What Is Wirex Token?
Wirex Token (WXT) is an internal token of the Wirex platform, which is a universal unit of bonuses and commissions. The main purpose of the WXT token is to help users save on commissions and earn unique bonuses. Users receive exclusive discounts (up to 100 percent) on a range of fees. These include exchange fees, bank transfer fees, withdrawal fees, credit/debit card top-ups, monthly administration fees, ATM fees, and SWIFT transfer fees. The aim of this token is, among other things, to reduce transaction fees, introduce a cashback system, and incentivize retailers.
The company's internal token gives customers the opportunity to receive various bonuses when working with the product, having access to fast and efficient payments. The main goal of WXT is to help the growing communities of B2C and B2B users save on fees. The entire volume of tokens is clearly distributed taking into account risks. This provides protection against any unforeseen interference.
Pros and Cons of Wirex Token
Advantages of Wirex Token
Wirex has made significant headway in the cryptocurrency market following the UK Financial Conduct Authority's approval to issue debit cards in Europe. The team has developed a solution that can be used to pay with both conventional currencies (dollar, euro, etc.) and cryptocurrencies. The application allows you to transfer money to different countries in a matter of minutes without any fuss with documents, without sky-high commissions and losses on the difference in exchange rates. The development of its own token allowed to increase the value of the entire company and attract more customers.
Disadvantages of Wirex Token
However, the functions and purpose of the token do not sound too innovative. Since Wirex Token belongs to currencies, the market value of which is relatively low, there may be greater price fluctuations compared to established cryptocurrencies. Bitcoin/Ethereum price also has a significant influence on WXT value.