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Stellar

What is the WXT coin used for?

How Wirex uses WXT coin. Wirex is a digital payment platform and app where users can bank crypto and fiat currencies together. Launched in 2014, the platform has over 3 million users across 130 countries.

WXT coin


The WXT coin is a stellar-based utility coin and native cryptocurrency that affords Wirex customers discounts on the following services:

  • Exchange fees, bank transfer fees, crypto transfer fees.
  • External debit/credit card top-up fees.
  • Monthly management fees.
  • ATM charges.
  • Swift transfer fees.

WXT holders also benefit from enhanced Cryptoback™ rewards on in-store purchases as well as a host of other projected perks for the future.

Wirex features


  • Multi-currency Wirex card – Spend your crypto and fiat currencies wherever Visa and Mastercard are accepted.
  • Rewards – Up to 2% in Bitcoin.
  • Zero exchange fees
  • Free multicurrency IBANs

What is Wirex


Wirex is a digital payment platform and app where users can bank crypto and fiat currencies together. Launched in 2014, the platform has over 3 million users across 130 countries.

WXT coin issuance


Total supply: 10,000,000,000

  • 4,900,000,000 – platform reserve for security and platform flexibility (49% of total).
  • 1,700,000,000 – team supply with 20-36 month lockup periods (17%).
  • 1,400,000,000 – R&D including infrastructure, integrations, and enterprise services (14%).
  • 1,100,000,000 – partnerships (11%).
  • 500,000,000 – private sale to investors and Wirex users with 1-24 month lockup periods (5%).
  • 400,000,000 – public sale without vesting or lockup periods (4%).

Wirex runs a token burn mechanism that will see up to 25% of total supply burned over 5 years. This theoretically drives deflation, causing the value of surviving currency to rise.

There are several WXT exchanges where tokens can be bought, sold and traded. These include OKEx, Huobi Global, Exmo and Kucoin.

Docs


Paper

WXT coin price


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