If you're a Wirex user, you may be familiar with X-Accounts - a feature that allows you to earn interest on your holdings. But did you know that you have the option to receive your interest in WXT, Wirex's native token? In this article, we'll explore the differences between receiving interest in-kind vs in-WXT and the benefits of choosing interest in WXT.
Interest in-kind means that you receive interest in the same currency that you opened your X-Account in. For example, if you opened a BTC X-Account, you will earn interest in BTC. This interest is then added to your X-Account balance every week.
On the other hand, interest in WXT means that regardless of the currency you opened your X-Account in, you will receive interest in WXT - Wirex's native token. This interest will be paid directly into your X-tras account.
So why choose interest in WXT? One of the main benefits is that it allows you to earn additional rewards with your WXT balance. Premium and Elite users will continue to earn an annual Savings Bonus on any funds held in their WXT accounts, which can help grow your balance even further.
Interest in WXT is calculated and paid out in the same way as interest in-kind - acculuated a daily basis and paid on a weekly basis. However, instead of being added to your X-Account balance, the interest is credited to your X-tras WXT account.
With WXT, you can continue to benefit from market price changes, use it to pay for things in real life with your Wirex card, or send it to one of your contacts in a matter of seconds. Plus, earning interest in WXT can help you maximise the rewards you earn with Wirex by upgrading your X-tras membership.