Introducing the WXK Digital Token by Wirex: Boost your Profits and Secure your Future
- Discover the WXK digital token by Wirex and how it can boost your profits in Wirex Multiply
- Buy WXK at a reduced price to earn a guranteed profit
- Find out how to use and sell WXK as an investment opportunity
We’re excited to announce that we’re launching a brand new token within the Wirex app, WXK! Not only is it a great investment opportunity, but it can also be used to boost your Multiply profits!
What is WXK?
WXK is a new token that we’ve launched and is only available to buy in the Wirex app. It will be available to users worldwide, except the US, Singapore and Australia.
WXK presents a new digital investment opportunity within the Wirex ecosystem, and fuses the passive income generation of X-Accounts with the flexibility and high potential returns of liquid staking in DeFi. The token has a life of two years, which means you can’t return it for the 1000 WXT until after this period, and the price after this date is fixed at a higher value than when you initially bought. This means that the value of WXK is guaranteed to increase over this period, offering the potential for high returns!
What’s more is that you can also use the token to boost your Wirex Multiply profits by 10% as soon as you buy it.
How can I buy WXK?
WXK will go on sale from 1st June 2023, and will be available for sale exclusively on the Wirex app. You can purchase it using any currency. 1 WXK is normally priced at 1000 WXT, but for a limited period after launch, we’re giving you the chance to buy WXK at a lower price than at the end of its two-year life.
From the 1st June 2023, you can purchase WXK at 800 WXT for 1 WXK*. The price of WXK (calculated in WXT) will increase over time until the end of the two years, as per the chart below:
This means that there’s the potential for high returns by buying them at a reduced priced. The WXK tokens have a life of two years, at which point they are exchangable for more WXT than you initially paid, and the sooner the buy, the more yield you could earn!
Think of it in terms of our X-Accounts product. In many ways, WXK embodies the essence of X-Accounts, allowing you to earn passive income, but with a twist. With X-Accounts Plus, you can deposit your funds for 30 days to earn up to 20% APR; by initially locking 800 WXT, you’ll accumulate guaranteed interest daily which is paid weekly and you can withdraw after 30 days. WXK is a tokenised version of our X-Accounts that mirrors the concept of a baked-in return concept in the crypto space, so there is no interest. Here you can purchase WXK at a price of 800 WXT:1 WXK on the 1st June 2023, which you can redeem after the two-year period for a larger amount at a ratio of 1000 WXT:1 WXK.
NOTE: if 3 million WXK are sold within the two-year period, the sale may be closed early. At this point, users won’t be able to buy more from Wirex but can still send WXK to/from other users before it reaches the end of the two-year life, so make sure you get in there before they sell out!
What can I do with WXK?
As mentioned, the exchange of WXK into 1000 WXT is locked for the next two years until 1st June 2025, but there’s plenty of things you can do with it up until that point!
- Hold it in the Wirex app until the end of the two-year period, after which you will receive back a higher amount of WXT than what you initially paid for it
- Transfer it to other Wirex users (supported networks Ethereum, Avalanche, Polygon), who can also hold it or use it to boost their profits in Multiply. These can be transferred by sending it to their blockchain address or the send money to contacts feature
- Use it to boost your Wirex Multiply profits by 10%
How can I use WXK to boost my profits in Wirex Multiply?
Another great perk is that you can use WXK to boost your profits in Wirex Multiply, our trading product allowing users to loan a portion of their assets to predict the future price of a currency, with the potential for high returns and high risk.
For a payment of 1 WXK token, users can boost their Wirex Multiply profit (and profit only), by 10% for deals up to USDT 1000 equivalent, whilst 2 WXK tokens can be used for Multiply’s of USDT 1000-2000 equivalent etc. You can also allocate additional WXK tokens to multiple Multiply trades if you want to use Multiply over $1000 at the same time to boost your potential profits even more!
Please note the boost will apply to the profit generated only, the WXK payment will not make a diffference if you don’t generate a profit on the Multiply trade, and the WXK payment is non-refundable regardless of profit or loss on the Multiply.
How can I sell WXK?
Once your WXK reaches the end of the two-year period, you will have the option to exchange your WXK for WXT, with a fixed price of 1 WXK = 1000 WXT. This means you’ll be trading WXK back to Wirex for a larger amount of WXT than you initially paid!**
Ready to join the future of digital investment? Head to the Wirex app today and purchase some WXK!
* You can purchase this using any currency, but Wirex will automatically first convert the currency used to buy WXK into WXT
** Please note that at the end date, if WXT’s market rate is more than $0.01 per WXT, Wirex will not give back the full WXT and instead will keep the 1000WXT and pay you $10 USD stablecoins per WXK.