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Wirex One review

Wirex One pairs a self-custody crypto wallet with a Visa card, multi-currency accounts and cashback paid in dollars. Here is what it does well, and what to weigh up first.

By Hamish Webb · Last reviewed 30 September 2026

Referral disclosure: links to Wirex One on this page are referral links. If you sign up through them, WalletExchange may receive a referral reward. It doesn’t change what we say here, and Wirex hasn’t reviewed or approved this page. See our affiliate disclosure.

At a glance

  • What it is Wirex’s new flagship app, launched publicly on 16 September 2026. It replaces the old Wirex app.
  • Custody Your crypto wallet is self-custody. The card, IBAN and bank-style accounts are run by Wirex and its partners.
  • Card Visa card, virtual on the free tier, plastic or metal on higher tiers. No foreign transaction fee.
  • Cashback 0.5% to 8% on eligible card spending, paid in US dollars, depending on your membership tier.
  • Where The UK, the EU/EEA, Australia and New Zealand are on Wirex’s supported card list. The US is not.
  • Verification Photo ID and a selfie are needed for the card and Earn. Sending and receiving crypto doesn’t need them.

What Wirex One is

Wirex One is Wirex’s rebuild of its app as what it calls a “stablecoin neobank”: your balances sit onchain, mainly in stablecoins, on Arc, the blockchain Circle launched for stablecoin payments. After a closed beta with more than 20,000 users, it opened to the public in September 2026.

If you already use the old Wirex app, you upgrade into Wirex One. Your verification, balances and card carry over, with the same card number. One thing to watch: your crypto deposit addresses change when you upgrade, and Wirex warns that funds sent to old addresses may be lost. Update any saved addresses in the exchanges and wallets you send from.

Our experience

We use Wirex One ourselves. The standout for us has been Earn: the interest rates on stablecoins have been strong, better than we’ve seen from most alternatives. Rates are variable and shown in the app, so check the current figure rather than relying on any number quoted online, including ours.

Two things to keep in mind. Interest on stablecoins isn’t a bank deposit: no deposit-protection scheme covers it. And Earn requires identity verification, so, as with any regulated service, it’s linked to your name and the interest may be taxable where you live.

The benefits

  • Self-custody without a seed phrase Your wallet’s key is split into encrypted shares, handled by the wallet provider Privy, and never stored whole. Wirex says neither it nor Privy can move your funds. You log in with email and a passkey, and you can export your private key to another wallet such as MetaMask or Phantom. So your crypto doesn’t depend on Wirex staying in business.
  • Spend crypto with a Visa card The card spends from your balance anywhere Visa is accepted, with no foreign transaction fee on the card.
  • Cashback in dollars, not tokens Eligible purchases earn 0.5% (Base), 1% (Premium), 3% (Elite), 5% (Private) or 8% (Bespoke), paid in USD. Wirex’s older app paid rewards in its own WXT token.
  • No subscription fee Tiers are set by what you hold, not by a monthly plan, and there’s no lock-up period.
  • Bank-style accounts A personal IBAN and USD, EUR and GBP accounts, with SEPA, ACH and Faster Payments transfers in.
  • Fee-free trading allowances Higher tiers include a monthly allowance of trades without Wirex’s fee, from $2,500 on Premium to unlimited on Bespoke.
  • Modern security Passkeys (phishing-resistant sign-in), authenticator-app 2FA, and an app lock that’s on by default.

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Where it fits a privacy-first approach

For privacy, the wallet side of Wirex One is what matters. Your keys are yours, there’s no seed phrase to leak or lose, and you can send and receive crypto in the wallet without verifying your identity. That’s close to how we think about privacy at WalletExchange: control over your own funds, and sharing only what a service actually needs.

The card, bank accounts and Earn are different. They require photo ID, they’re run by regulated companies that monitor activity and can share information with authorities where the law requires it, and crypto platforms are increasingly required to report customer transactions to tax authorities. Treat Wirex One as a well-built self-custody wallet with regulated extras, not as an anonymity tool.

What to weigh up

  • The best rewards need Wirex’s own token Tiers depend on your portfolio value and on keeping a minimum share of it in WPAY, Wirex’s token. The headline 8% cashback means holding a volatile token issued by the same company. Monthly cashback you can redeem is also capped: $25 on Base, up to $2,000 on Bespoke.
  • Only part of it is self-custody The crypto wallet is yours. The card, IBAN and fiat accounts are regulated services that Wirex and its partners run, and Wirex’s terms let it restrict them for compliance, fraud or risk reasons.
  • Trading costs aren’t published Wirex shows the fee on the review screen before you trade, but doesn’t publish its spreads. Compare the amount you’d receive before converting larger sums.
  • You pay network fees Gas on networks such as Ethereum, Tron and Solana is paid by you, not sponsored by Wirex.
  • ATM perks depend on tier Unlimited fee-free ATM withdrawals are a top-tier benefit, card limits apply, and ATM operators may add their own charges.
  • Support and reputation Wirex’s Trustpilot rating was 2.4 out of 5 across 17,652 reviews when we checked on 30 September 2026. Recent complaints focus on the upgrade to Wirex One, delayed deposits and slow support.
  • Protection and regulation No deposit insurance or compensation scheme covers your crypto. In the UK, Wirex Limited is authorised by the FCA for e-money (FRN 902025), not crypto; crypto services are provided by an Italian-registered Wirex company. Check the entity that serves your country in the app before you sign up.

Before you send crypto to it

Wirex One shows the networks it accepts for each asset in the app. Match the network exactly when you send from an exchange or a swap. Sending USDC on the wrong network is the classic way to lose funds, and it’s easy to do when an app is new and its addresses have just changed. Our guide to native vs. wrapped crypto explains what to check.

Our verdict

Wirex One suits people in the UK, Europe, Australia or New Zealand who want to spend stablecoins with a card, keep control of their own keys without juggling a seed phrase, and are comfortable holding some WPAY to reach the better cashback tiers. Its self-custody wallet is a real improvement on the old custodial Wirex app.

It suits you less if you’re in the US, want rewards without buying an issuer’s token, expect published trading spreads, or put reliable customer support first. The card and fiat side still involves full verification and a company that can freeze those services, so it isn’t a privacy tool.

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