As Wirex commemorates its 10th anniversary, we are excited to introduce you to X-Accounts—our revolutionary feature designed to help you earn interest on both cryptocurrency and traditional currency holdings. With X-Accounts, you can enjoy up to 15% Variable AER on selected currencies, providing a super-simple and secure way to maximize your earnings.
What is X-Accounts?
X-Accounts is a unique, DeFi-powered savings solution that allows you to generate interest on your account balances with minimal effort. This innovative tool is available in specific countries and provides a user-friendly method for accruing interest on your funds. With X-Accounts, you can open multiple accounts, each tailored to your financial goals, and start earning interest in as little as five minutes.
How X-Accounts Started
The concept of X-Accounts originated from Wirex’s mission to empower users with advanced financial tools that simplify the savings process. Recognizing the growing demand for competitive interest rates on crypto and fiat holdings, we launched X-Accounts to provide a straightforward solution that eliminates traditional complexities and barriers. This feature not only enhances the user experience but also helps customers grow their assets securely and efficiently.
Setting Up X-Accounts
Getting started with X-Accounts is incredibly easy. Here’s how you can open an X-Account in the Wirex app:
Ensure Account Funds: Verify that you have an active Wirex account with funds in a supported currency.
Navigate to the Grow Tab: Open the Wirex app and go to the "Grow" tab.
Select "Earn": Choose the "Earn" option under the Grow tab.
Create New X-Account: Tap "Create New X-Account" to initiate the process. You can create up to ten X-Accounts, customizing names to suit your savings goals.
Choose Currency: Select the currency for your X-Account from various options, including crypto, stablecoins, and traditional currencies.
Select X-Account Type: Opt for X-Account Plus for higher interest rates with a 30-day lock-up period or X-Account Flexible for more flexibility in withdrawals.
Choose Interest Payout: Indicate how you want to receive your interest—either in kind or in Wirex Token (WXT).
Add Funds: Transfer funds to your X-Account to start earning interest.
How X-Account Interest Works
X-Accounts offer competitive interest rates based on the currency held. Interest is calculated daily and paid weekly, providing a straightforward way to grow your savings. Wirex achieves these competitive rates by converting X-Account funds into DAI or another stablecoin, placing them into a DeFi protocol. This process simplifies traditional DeFi complexities, allowing you to enjoy high returns without unnecessary fees.
It's important to note that X-Accounts’ interest rates may fluctuate based on market conditions. Regularly monitoring the offered rates will help you optimize your investment strategy and ensure your funds are working as hard as possible for you.
Join the Celebration!
As we celebrate 10 years of innovation, X-Accounts stand as a testament to Wirex’s commitment to providing our users with exceptional financial tools. Start maximizing your earnings today with X-Accounts!
Disclaimer
The information contained herein has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for financial, legal, or investment advice. Wirex and any of its respective employees and affiliates do not provide financial, legal, or investment advice.