The Wirex debit card offers 8% back on your spending, paid in crypto. But there's a catch - here's what you need to know!
00:00 - Intro
1:02 - Wirex Cryptoback Rewards Explained
2:29 - The Truth About 8% Back Rewards
3:52 - X-Points
5:09 - My Experience
7:21 - Is the Wirex Card Worth It?
9:04 - Watch This Next
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As usual, I jumped right into this card without reading the fine print and learned the hard way whether this card is actually worth it.
The good news is, that means I took all of the risk for you, and can now break down exactly what you need to know about the wirex card to determine if this card makes sense for you. And don’t get me wrong, for some people, this card can be an incredible deal.
But as we take a look at the Wirex Cryptoback rewards, you’ll see that this 8% back isn’t as open-ended as we’d probably like it to be.
While you do technically get 8% back, the actual rewards you get in your pocket end up being quite a bit less, and you have to jump through a few hoops to get them.
This includes the fact that all rewards and subscriptions are credited in the app’s x-points, which takes away a little bit of flexibility from us as the users.
I also had a few poor experiences with the card that you may want to consider before pulling the trigger on it yourself.
But in all, there is a sweet spot where the Wirex card could be worth it, and I’ll show you exactly where that is.
After all the costs, there is still the opportunity to earn $50 per month in cryptoback rewards at the elite tier. From my perspective, though, you have to spend as close to $1,000 per month as possible to maximize your rewards. Any more or less spending and your actual percentage back rewards can drop substantially.
For me, it’s a big headache to track every dollar I’m spending with this card and move things around to make sure I get as close to that $1,000 mark as I can. Especially because I have other cards that give me a guaranteed 5% back without any fees. In my case, I’d rather take the guaranteed 5% back in cash than hope everything works out perfectly for the Wirex card.
I was also hoping to use the card for things like tax payments, which are explicitly excluded from cryptoback rewards, and rent, which will be capped at a maximum of 2,000 cryptoback points per transaction, both reducing the utility of this card for me by a lot.
But this could still be worth it for the right person. If you’re looking for a flexible rewards card that works for almost all categories, you don’t want to use credit cards and you’re going to spend around $1,000 per month consistently, the Wirex card can be an awesome way to accumulate crypto every month. On the other hand, for casual spenders or big ticket items, this card just has too many conditions and limits to be ideal.
#Crypto #Wirex #DebitCard
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This video is meant for informational purposes only, and is not a recommendation to buy or sell any security or cryptocurrency. It is also not a research report and should not serve as the basis for any investment decision. Additionally, I earn commissions for purchases and sign-ups made through the links above.
14 июл 2024
