Can Crypto be Environmentally Friendly?

Region: Europe
Apr 22, 2021, 10:00:00 AM Published By Wirex Team

Today is World Earth Day, an annual event first held in 1970, which brings people together from all over the world to help protect the environment. This year’s theme is ‘Restore our Earth’, and here at Wirex, we’re taking steps of our own to try and do just that.

Eco-friendly digital money

The world of crypto has come a long way since Bitcoin was launched in 2009, and there are now plenty of options for those who want a digital currency that’s also eco-friendly. This is where it’s Nano’s time to shine.  Nano is a sustainable digital currency with ultrafast transactions and zero fees over a secure, decentralized network.

Nano eliminates the mining process used to create new tokens altogether by using a unique block-lattice data structure in which each account has its own blockchain (known as an “account-chain”). This way, an unlimited number of transactions can be processed simultaneously, resulting in zero-fee, near-instantaneous transfers which require significantly less energy consumption

Even though the network processes around 7,000 transactions per second, the entire Nano network could be powered by a single wind turbine. We launched Nano on the Wirex platform in 2019 and World Earth Day could be the perfect opportunity to decide whether Nano is the perfect crypto for you.

Wirex card packaging

It can be frustrating when you purchase something only to realise its encased in multiple layers of unnecessary plastic and packaging. In the UK, plastic packaging accounts for nearly 70% of our plastic waste. Not only is not all plastic easily recyclable, resulting in it filling up landfills or littering the ocean, but also it often requires huge amounts of energy to produce.

You may have noticed your Wirex Mastercard arrive in some pretty swanky green packaging. But looking good isn’t all it does. Our stylish Burgopaks are not only recyclable, they’re stripped back to reduce material usage and water consumption.

Haven’t got yours yet? Order your card now from the Wirex app.

Online money platform

Packaging aside, using Wirex offers plenty of other eco-friendly perks. There’s no denying it - digital finance is the way forward. It eliminates the need for physical money, paper statements, car trips to the bank and much more.

Studies have shown that, even though they're made from plastic, cards are the most environmentally friendly means of in-person payment. They represent just 20.8g of CO2 production over 3 years, compared to the 8.77kg of CO2 produced by manufacturing a single polymer bank note. Cards offer more flexibility and are better for the environment - it's a no brainer!

Together we can make a difference. Go green with Wirex this World Earth Day!