Wayex card review
- Deposit fee
- None
- Withdrawal Fee
- None
- Yield rate
- N/A
Our verdict
Want to spend your crypto like cash? Here’s what you need to know about the Wayex prepaid Visa card.
The Wayex card offers Aussie customers a simple and seamless way to spend their cryptocurrency holdings on everyday purchases.
The Wayex card is beginner-friendly and easy to set up. All you need is a verified Wayex account.
Once your account is verified, you can download the mobile app, link the card to your Google Pay or Apple Pay and start spending your crypto like any other debit card. You also have the option to order a physical Visa debit card.
The biggest drawback of the Wayex card is the limited number of coins and tokens available. Some similar products offer crypto spending on a much wider range of cryptos and altcoins.
Pros
-
Payments accepted at all Visa merchants
-
Supports Apple Pay and Google Pay
-
Physical and virtual card available
-
Manage your account and purchase crypto via the Wayex app
-
Pay bills and send money using crypto or AUD
Cons
-
Limited number of cryptocurrencies available
Details
Wayex Card
| Product Name | Wayex Card |
| Yield rate | N/A |
| Issuing card fee | $14.99 |
| Deposit fee | None |
| Supported cryptocurrencies | BTC, ETH, LTC, XRP, XLM, LINK, AAVE, UNI, ADA, SOL, DOT, MATIC, MANA, USDC, USDT, BCH |
| Withdrawal Fee | None |
| Funding methods | Bank transfer, Crypto wallet, PayID |
| Inactivity fee | $0 |
| More Info |
Wayex, formerly Cryptospend, lets you buy, sell and, most importantly, spend your crypto like cash anywhere that Visa is accepted. You can manage and spend more than a dozen cryptocurrencies, including Bitcoin, Ethereum and Solana.
How does the Wayex Visa card work?
The Wayex card works the same way as any regular Visa prepaid debit card.
You can pay for goods and services using a range of supported cryptocurrencies which are instantly converted to AUD at the time of purchase.
Simply select the cryptocurrency you wish to pay with at the time of the transaction.
Your crypto spending and cards can be tracked directly through the Wayex app.
Main features
- Spend crypto like cash. Make purchases in-store and online anywhere that Visa is accepted.
- Automatic conversions. Pay with cryptos, including BTC, ETH and XRP, and your Wayex card will manage the conversion to AUD during the payment process.
- Mobile-friendly. The Wayex app makes viewing your spending history and balance details easy.
- Fees. Wayex has zero annual or FX fees and no cost associated with applying for a debit card.
- Apple and Google Pay. All transactions are handled directly through your mobile device whether it's iOS or Android, you just need to have Apple Pay or Google Pay installed.
Is the Wayex Visa card safe? What are the risks?
Risks associated with the Wayex card are much the same as a normal Visa card. This means that your card should always be kept in a secure location and your PIN should not be shared with anyone.
Phishing scams are common in the crypto space, so make sure to always check your transfers and only transact through the official Wayex app that is linked to your Apple or Google Pay wallet.
Cryptocurrencies are volatile by nature; always keep an eye on the market and monitor your account balance, as your spending balance will fluctuate with market movements.
Take a look at the Wayex card
How does this compare to a traditional debit card?
The Wayex card is unlike traditional debit cards in that it is prepaid and cannot be linked to a personal bank account. Your spending balance must be topped up manually via the Wayex app.
How experienced with crypto do you need to be to use the Wayex prepaid debit card?
Wayex offers a beginner-friendly way to purchase cryptocurrencies. Spending via the Wayex card is simple and hassle-free. Tap and pay with Apple Pay or Google Pay means you don't have to worry about private keys or Web3 wallets.
What cryptocurrencies can I use with a Wayex card?
Purchases made with the Wayex card can be made using any cryptocurrencies held in your wallet or AUD.
Cryptos available for spending include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Solana (SOL)
- Polkadot (DOT)
- Stellar Lumens (XLM)
- Polygon (MATIC)
- Cardano (ADA)
- Chainlink (LINK)
- Bitcoin Cash (BCH)
- Decentraland (MANA)
- AAVE (AAVE)
- USD Coin (USDC)
- Tether (USDT)
- XRP (XRP)
- Uniswap (UNI)
Where can I use the Wayex card?
You can use your Wayex card anywhere you see a PayPass logo. This includes all traditional payment vendors that accept Visa.
The Wayex card can also be used to pay bills and send money. As long as you have a PayID or BSB and account number, you can send funds to friends, family or pay your bills. The crypto will instantly be converted to AUD and sent to the recipient.
Fees and exchange rates
There are no fees other than card issuance. Wayex makes money off the spread of crypto.
Eligibility and how to apply for a Wayex card
The Wayex card is available to Australian customers with a verified Wayex account.
Once your Wayex account has been verified you can apply for the Visa debit card in a few simple steps:
- Download the Wayex app on your selected mobile device.
- Verify your account by completing the KYC process.
- Fund your account with AUD or deposit cryptocurrencies directly into your Wayex wallet.
- Add the Wayex card to your Apple or Google Pay account and you're ready to start spending – you will also be given the option to order a physical card.
- Accept the terms and conditions.
- Start spending your crypto.
Alternatives to Wayex
Your reviews
Billy Finder
Cryptocurrency writer
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