new to bitcoin and just found wirex

← Back to articles

“I’m New to Bitcoin & just found Wirex — now what?!”

July 21, 2017 2:05 pm Published by

Oh, you lucky thing! You’re in the right place at the exact right time in history…

And here’s why:

(plus exactly what to do for a dramatic lifestyle change that could impact your financial future in incredible ways)

First, bitcoin is just the beginning

Sure, it’s hard enough to get our heads around ‘digital cash’, ‘blockchain technology’ and ‘bitcoin wallets’, but rest assured just a few weeks from now you’ll be so savvy about bitcoin that you’ll be educating your friends and family — and they’ll be listening with rapt attention!

But bitcoin really is just the beginning.

The world is going through such a shift in lifestyle opportunities, banking systems, computer technologies, and even government structures.

And bitcoin brings it all together. No more middle man.

No more high banking fees, or money transfer fees. No more inflation caused by meddling governments or central banks.

For people who just want a higher standard of living, for their money to go further, for their savings to be worth MORE in the future, bitcoin is a blessing.

I remember when I first heard about it —‘magic Internet money’ they said. Used for buying computer game upgrades they said. Part of the ‘dark web’, they whispered…

But today, bitcoin is quickly going mainstream.

  • Japan’s government recently recognised bitcoin as legal tender (nationally recognised money) and more governments will soon follow.
  • More and more retailers now accept bitcoin (Subway, Microsoft, Expedia, Virgin Galactic, Whole Foods, and many others)
  • Even the mainstream media and big banks are starting to admit what a good idea bitcoin is for global commerce!

In essence, it’s simply a currency created by cryptographic computer code, rather than money ‘printed out of thin air’ by central banks or government agencies. I think of it simply as ‘digital cash’.


With a big bonus:

The value of it is going up (…and up & up…) and it will continue to go up as more and more people and organisations take advantage of its key benefits:

  • Cheap money transfers (good for individual people and for hedge funds, banks, and large companies)
  • Traceable and immutable (the cryptography features allow transactions to instantly be distributed throughout the blockchain system so there are no chargebacks, transactions are locked in place, and there’s no ‘paperwork’ prone to mistakes)
  • Easily stored as long-term savings in encrypted digital wallets…

And that last one is really important if (like myself) you want to profit from the rise in the value of bitcoin. 

I’ll give my thoughts on bitcoin wallets on another blog, but for now, suffice it to say that owning a single bitcoin (I admit to having a few) just might set you up for uber wealth in the not too distant future.

And that means:

Your bitcoin security should be top priority

So before you buy bitcoin, you need to know how to secure your bitcoin.

And that’s part of the reason why opening a Wirex account requires email and phone verification. That way we can help retrieve your bitcoin access stored in your Wirex BTC wallet even if you drop your phone in the punch bowl at Aunt Susie’s 4th wedding…

Because your Wirex BTC wallet isn’t only kept on your mobile. It’s secured online via 2-Factor Authentication and accessible only by you via mobile or desktop computer.

Some companies that provide BTC wallets only have a mobile version. That is a hassle and potential risk if you end up losing the phone!

Wirex verifies your account with the first layer of security using Email and Phone Verification.

That gives you full access to the online account and mobile app.

Mission Accomplished — you now have a safe and secure bitcoin wallet!

…but hold on…

It’s like an empty cookie jar until you add some bitcoin

There are dozens of places to buy bitcoin. Some are dodgy, some are complicated, some are expensive, some are… well, let’s just say you need a lot of money to gain access to Liquidity Providers that sell bitcoin ‘over the counter’ (OTC) at volume discounts for bulk orders.

We’re talking tens of thousands of dollars or more.

And that’s where Wirex comes in…

Because of our huge global customer base (Wirex is the global leader in bitcoin-powered payment card providers), we have ‘on tap’ a network of liquidity providers with whom we trade every day, buying and selling bitcoin to provide our customers not only with an easy way to buy bitcoin, but a cost effective and safe way too.

Admittedly, getting started buying bitcoin is not the easiest thing in the world.

The regulatory environment currently requires us to do something called KYC verification (Know Your Customer) which means we need your account to be legit. We need a couple of verification documents (bank statement, passport, things like that).

Then, we submit those documents to a 3rd party verifier and wait to hear back from them. Sometimes it can take a week but it’s a crucial part of securing your Bitcoin long term!

With verified documents,  Wirex customers are able to order their bitcoin-powered plastic payment card and work their way through some of our educational material (User Guides, Help Center, and Blogs). I invite you to do the same.

Not only are you joining a community that cares about your financial future, you’re also getting access to what I believe is the best opportunity for joining the bitcoin lifestyle:

  • Virtual and plastic bitcoin-powered payment cards that run on the Visa network (and work just like any other Visa prepaid debit card). Shop in stores, use at restaurants to pay the bill, withdraw cash at the ATM.
  • Once you have bitcoin in your account, easily transfer money (bitcoin) to anyone, anywhere in the world. And if they have a Wirex account (free), they can get their own Wirex virtual card (first one’s free), and then they can exchange the bitcoin you sent them (now theirs), into local currency onto their Wirex virtual card — and shop online with it. And they can upgrade to a plastic payment card anytime they like too.

That might sound a bit complicated, but believe me, you’ll soon get the hang of it by tapping around the Wirex app and getting the ball rolling.

Order your own first virtual card (remember, first one’s free) and submit your verification documents. As I mentioned, this is a crucial part of our security layers. Once that’s gone through, you’ll need to be a little patient while KYC verification is done.

Then, you can use one of our funding options to get some cash onto your virtual card, and then use it to pay for a plastic card or exchange it for some bitcoin. Makes sense?

Over the next few weeks (if you’re a new Wirex account holder) you’ll receive some emails from our team that will help make bitcoin crystal clear.

And I really look forward to your first photo submission in our fun customer contest of creative lifestyle photos showing your Wirex plastic card or the Wirex mobile app screen.

I’m Gavriel. I work at Wirex (lucky me). And I love bitcoin.

Notable Replies

The Benefits of Transparency: How Bitcoin & Blockchains Could Change The World

Like most people, you probably have a lot of unanswered (or unanswerable) questions about the financial system. How do we set the price of gold if we don’t know how big the supply is? What’s the point of saving money for the future when inflation will devalue it with each passing year? Why are we… View Article

Why Do Banks Exist? Do We Still Need Them?

Banks are one of the most polarising topics around. Like any business, banks exist to make money- and they’re good at it. The fact they do this using our hard earned money is a sore point. Most people view traditional banks as faintly villainous and we’re quick to blame them for economic issues. Despite this… View Article

Bitcoin Vs The Dotcom Bubble

There has been a lot of debate lately about how Bitcoin compares to the dotcom bubble. Both involve new technology and rapidly increasing prices, so it’s no surprise comparisons are being drawn. Let’s take a look at exactly what bubbles are, and the similarities and differences between Bitcoin and the dotcom bubble. What is a… View Article

Why Customer Verification Is Super Important

There’s a common misconception that Bitcoin is fully anonymous, so many people are surprised when they sign up for a Wirex account or crypto exchange and are asked to provide proof of their identity. There’s a good reason for that – it’s part of KYC. What is KYC? KYC (‘know your customer‘) verification is how businesses find… View Article

Hi! New to Bitcoin? Get The Wirex Bitcoin Confidence eBook