Wirex Help Centre
What is Wirex Credit?

Wirex Credit is our way to provide a credit line in stablecoins, based on the cryptocurrency you hold. This allows you to unlock the value of your crypto holding without the need to spend them. We offer low-interest rates, instant funding and your choice of the amount and currency. 

  

Simple to set up and easy to use, you can open a credit line with us based on the cryptocurrency you hold as collateral. Depending on your loan-to-value (LTV), you will get credit into your stablecoin account. You can then spend your stablecoins with your Wirex Card, or stake them into dApps such as Nereus. You can also close the credit anytime you want before the maturity date ends, and you only pay interest for the days the credit line was active. 

  

When I open a Wirex Credit account, how do I access my funds? 

As soon as you open a Wirex Credit line, your funds will be instantly available in your chosen stablecoin wallet. This means that you can link this account to your Wirex Card and spend them in over 150m retailers worldwide, you can stake them within a DeFi protocol like Nereus or you can exchange for any other currency within the Wirex App 

What are the benefits of Wirex Credit? 

Wirex Credit allows you to unlock the value of your crypto holdings without having to sell them. This means you do not have to buy them back at a potentially higher rate later. With Wirex Credit, you can secure a stablecoins up to the value of 80%* of your crypto and spend it instantly on your Wirex Card or exchange / transfer within the Wirex App. That means the bill you need to pay, the home renovation you are doing or dApp staking can be done instantly. Once you’re ready to pay it back, the original cryptocurrency will be released back to you 

*up to 80% LTV available with NXUSD, otherwise maximum is 60% 

What currencies can I use as collateral? 

You can use BTC or ETH as collateral, with more options coming soon! 

What stablecoins can I borrow with Wirex Credit? 

The stablecoins available to borrow within Wirex Credit vary by region 

If you are in the UK, you can borrow DAI 

If you are in EEA, APAC, you can borrow NXUSD, USDT, USDC.  

If you are in Rest of World region, Please check you Wirex App to see what stablecoins are available in your country for Wirex Credit 

Wirex Credit is not currently available within the United States 

Are my funds secure? 

All crypto / stablecoins within Wirex App are held with Fireblocks, an industry-leading digital asset custodian with over $30m insurance coverage 

How many lines of Wirex Credit can I open? 

You can have up to 5 lines of Wirex Credit active at any one time 

  

What is the interest rate for Wirex Credit? 

The interest rate for credit lines in USDC, USDT or DAI are charged at 2% APR. The interest is calculated daily and applied to the outstanding balance monthly. Wirex Credit lines opened in NXUSD are 0% APR 

Do I have to pay a fee to open Wirex Credit? 

No – there are no set up or origination fees for any Wirex Credit lines 


Do I need to make monthly repayments? 

No – Wirex Credit is completely flexible. This means you can repay at any time by adding collateral to bring the LTV down or repay the stablecoins borrowed. There are no fixed monthly repayments. Whenever you’re ready before the 12-month maturity date, simply pay the outstanding balance which is made up of the capital borrowed + any interest accrued 

What if I do not make a repayment before the maturity date? 

If you do not make any repayment before the maturity date the original collateral will be liquidated, meaning we do not return this to you. Be sure you can repay the credit before deciding to open one 

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