Wirex Cryptocurrency Terms

1 These Terms
1.1 These terms and conditions relating to Wirex’s cryptocurrency offering (“Cryptocurrency Terms”) are between you (the “User”, “you” or “your”) and Wirex Limited (“Wirex”, “we”, “us” or “our”), a company incorporated in England and Wales with company number 09334596 and whose registered office is at 5th Floor, Tower 42, 25 Old Broad Street, London, United Kingdom, EC2N 1HN.

1.2 These terms should be read in accordance with our General Terms of Service. Any capitalised terms used in these Cryptocurrency terms but which are not defined in these Cryptocurrency Terms are defined in our General Terms of Service.

1.3 These Terms set out the basis on which Wirex will provide you with the option of gaining exposure to certain cryptocurrencies (the “Cryptocurrency Services”). Before you can obtain such exposure you are required to read these Cryptocurrency Terms and the various associated risk warnings contained herein. By proceeding to use the Wirex Services, you accept and acknowledge the associated risks in dealing with cryptocurrencies and your agreement with these Cryptocurrency Terms.

1.4 It is important to note that the Cryptocurrency Services we provide in relation to these Cryptocurrency Terms, as with the majority of cryptocurrency services in the United Kingdom, are presently unregulated in the United Kingdom. Cryptocurrencies are not regulated by the FCA (and the UK’s money laundering authority) on this basis they do not fall within the scope of the UK’s adopted measures for implementing the Payments Services Directive, the second Electronic Money Directive or the third Money Laundering Directive.

1.5 These Terms are separate and independent from the Wirex Cardholder Terms which govern your use of your Wirex Card – see the General Terms of Service.

1.6 If you do not accept these Cryptocurrency Terms you are not permitted to use our Cryptocurrency Services. In the event of any conflict or inconsistency between:
A. our General Terms of Service; and
B. these Cryptocurrency Terms,

these Cryptocurrency Terms will prevail and take precedence.

2. Risk Warnings
Please read the following risk warnings carefully.

2.1 The trading and exchange of real or virtual currencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency – virtual or not – may be subject to large movements in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or exchanging any cryptocurrency.

2.2 Cryptocurrency exchanges also carry special risks not generally shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, cryptocurrency is a unique type of currency, backed by technology and trust. There is no central bank that can take corrective measure to protect the value of cryptocurrency in a crisis, or issue more currency.

2.3 The price or value of cryptocurrency can rapidly increase or decrease at any time and may even fall to zero. The risk of loss in trading or holding cryptocurrencies can be substantial and can result in the loss of your entire exposure.

2.4 There may be additional risks that we have not foreseen or identified in these Cryptocurrency Terms or our other risk warnings.

2.5 You should carefully assess whether your financial situation and tolerance for risk is suitable for any form of exposure to cryptocurrencies.

2.6 Our banking providers do not transfer cryptocurrencies, exchange cryptocurrencies, or provide any services in connection with cryptocurrencies.

2.7 The information on the Website is provided for information purposes only and is not intended to be and does not constitute financial advice or any other advice. It is general in nature and not specific to you and it has not and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment, nor is it a recommendation, endorsement, or sponsorship of any security, company, or fund. Wirex is not responsible for any investment decision made by you. You are responsible for conducting your own research and before using the Wirex’s information to make any decision, you should undertake your own due diligence and seek independent advice from an appropriately qualified third party. The information provided on the Website or in any communication containing a link to the Website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Wirex or its Affiliates to any registration requirement within such jurisdiction or country.

3 Registration Process
3.1 By opening a Cryptocurrency account within your Wirex Account and using the Cryptocurrency Services, you expressly represent and warrant that:
A. you have accepted these Cryptocurrency Terms and our Privacy Policy which can be found HERE;
B. you have the full capacity to accept these Cryptocurrency Terms and enter into a transaction involving cryptocurrencies;
C. you are a resident within the European Economic Area;
D. you will not use the Cryptocurrency Services except for their intended purpose and not contrary to the general prohibitions regarding your Wirex Account according to our General Terms of Use; and
E. you are familiar with the nature and workings of the technology behind cryptocurrency, and in particular, the irreversibility of transactions and the apparent risks associated with exposure to cryptocurrencies.

3.2 In order to access the Cryptocurrency Services you will need to access the accounts tab in the Wirex Dashboard and select the relevant cryptocurrency account.

3.3 Subject to clause 3.2, once your account has been activated you will be able to gain access to cryptocurrency exposure.

4. Cryptocurrency Services
4.1 Wirex offers you cryptocurrency exposure as part of the Cryptocurrency Services, enabling you to use certain of the Electronic Money held in your Wirex Account (i.e. standard, non-virtual currency that is issued by a central bank, otherwise known as “fiat currency”) to obtain exposure to certain supported cryptocurrencies as Wirex may support from time to time (each a “Cryptocurrency”).

4.2 Wirex may from time to time notify you of additional Cryptocurrencies to which we will offer exposure and functionality within the Website, the Wirex App, your Account and/ or the Card.

4.3 When you wish to gain or cease exposure to Cryptocurrency you instruct Wirex to effect a buy or sell order on your behalf via one of our partnered cryptocurrency exchanges (each a “Cryptocurrency Exchange”)

4.4 As a User your will have no relationship, contractual or otherwise, with the Cryptocurrency Exchange. Wirex will be the contracting party with the Cryptocurrency Exchange and will carry out such exchanges in relation to your transaction.


4.6. Subject to clause 7 below, once Wirex has completed a successful exchange, you will have a beneficial interest in the requested cryptocurrency that Wirex has exchanged and which the Cryptocurrency Custodian holds on your behalf.

4.7. You will not have a personal cryptocurrency wallet. User cryptocurrency will be stored in a pooled virtual currency account administered by Wirex, held by the Cryptocurrency Custodian. Wirex will maintain a record of the amount of each User’s interest which will be displayed in each User’s Wirex Account alongside other fiat balances.

5. Transfers and Spending
5.1. You will be able to transfer cryptocurrencies to other Wirex Users within the Wirex App.

5.2. If a User (“A”) wishes to transfer their cryptocurrency exposure to another User (“B”), Wirex will action this transfer by assigning A’s right to the cryptocurrency in the pooled account (see clause 4 above) to B. Wirex will adjust your records of the cryptocurrency exposure held by each of A and B in the pooled account accordingly.

5.3. You cannot spend cryptocurrency directly using your Wirex Card.

5.4. If you want to spend any part of your cryptocurrency exposure, which is recorded in your Wirex Account, Wirex will, subject to clause 7, you will be required to exchange any cryptocurrency exposure into fiat currency, settling the transaction in the respective fiat currency in order to make payment using your Wirex Card.

6. Restrictions relating to the Cryptocurrency Services
6.1. We will apply limits to the amount of cryptocurrency that a User will be able to gain exposure to per transaction. These limits will be determined at Wirex’s sole discretion and may be amended and adjusted from time to time.

6.2. Any limits as described in clause 6.1 above will be outlined whilst using the Cryptocurrency Services and before any proposed transaction is accepted.

7. Availability of Services
7.1. We make no guarantee that you will be able to gain your requested exposure to a cryptocurrency at the time of your request. Wirex will only enact an exchange to a Cryptocurrency on your behalf if the related exchange has been successfully carried out with the relevant Cryptocurrency Exchange.

7.2. Wirex cannot guarantee the value of any cryptocurrency at the point of your request for exposure.

7.3. In the event that a ‘fork’ occurs within the underlying Cryptocurrency’s protocol, we will liaise with the relevant Cryptocurrency Exchange in order to determine the best approach for Users in relation to such event. Any decision made on behalf of Users will be made at Wirex’s sole discretion. For more information about forks please see our FAQs.

7.4. We will use reasonable endeavours to ensure that the Cryptocurrency Services can normally be accessed by you in accordance with these Cryptocurrency Terms. However, the Cryptocurrency Services are provided without warranty of any kind, either express or implied. We do not represent that the Cryptocurrency Service will be available 100% of the time to meet your needs. We will use reasonable endeavours to provide you with the Cryptocurrency Service as soon as possible but there are no guarantees that access will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information.

7.5. We may suspend use of the Cryptocurrency Services for maintenance and we will make reasonable efforts to give you notice. You acknowledge that this may not be possible in all cases and that Wirex shall not be liable for any losses whatsoever incurred or purportedly incurred by you arising from the same, whether direct, indirect or consequential.

7.6 To comply with applicable laws, Wirex may require you, by written notice, to exchange your balance of one or more Supported Cryptocurrencies within a period to be defined within that notice. Where you fail to comply with such requirement, Wirex may, at its sole discretion, exchange your balance to a Supported Fiat Currency at the prevailing Exchange Rate and deduct any applicable Fees.

8. Fees
8.1. The fees we charge for the Cryptocurrency Services are set out in the Fees section of our General Terms and Conditions. We may from time to time change our fees, and introduce new fees, in accordance with clause 13.3 of these Cryptocurrency Terms.

8.2. Users will pay a fee on each transaction which has been derived from the relevant Cryptocurrency Exchange plus a mark-up as is outlined (if any) in the Fees section of our General Terms and Conditions, to account for volatility.

8.3. The cost of the fees will be included in the price of your cryptocurrency transaction and therefore taken in your pre-selected fiat currency.

8.4. There are no other additional fees for signing up or using the Cryptocurrency Service.

8.5. For more information about our fees in relation to the Cryptocurrency Service, please see our Fees section on the Website.

9. Termination and Erasure of Data
9.1. You may terminate these Terms immediately at any time by closing your Wirex Account and ceasing to use the Wirex Services.

9.2. We may immediately terminate these Cryptocurrency Terms by giving written notice, either through the Website, or by email.

9.3. Termination of these Cryptocurrency Terms results in the withdrawal of your access to the Cryptocurrency Services and, depending on the nature of termination, the closing of your Wirex Electronic Money Account and the termination of all Wirex Cards and the associated Wirex Cardholder Terms or the Paysafe Prepaid Card Terms and Conditions (as applicable). In such instances, Wirex will, in conjunction with the Wirex Card Issuer, deal with your remaining balance in accordance with the General Terms of Service and the Wirex Cardholder Terms or the Paysafe Prepaid Card Terms and Conditions (as applicable).

9.4 In the event these Cryptocurrency Terms are terminated by you, you may request the erasure of your personal data by contacting Please note that Wirex will only comply with such requests to the extent it is legally obligated to and depending on your account activity until that date, certain personal data may be maintained in accordance with anti-money laundering and counter-terrorist financing legislation to which Wirex is subject.

10. Financial Advice
10.1. For the avoidance of doubt, we do not provide any investment advice in connection with the Cryptocurrency Services contemplated by these Cryptocurrency Terms. We may provide information on the price, range, volatility of certain cryptocurrencies and events that have affected the price of cryptocurrencies but this is not considered investment advice and should not be construed as such. Any decision to obtain exposure to cryptocurrencies offered as part of the Cryptocurrency Services is your decision and we will not be liable for any loss suffered. If you are unsure about whether an exposure to cryptocurrency is suitable you should contact an independent financial adviser.

11. Limitation of Liability
11.1. Nothing in these Cryptocurrency Terms excludes or limits your liability for fraud (including fraudulent misrepresentation or concealment), breach of contract, wilful default, negligence or any other liability which cannot be lawfully excluded or limited (including any liability with respect to death and personal injury resulting from our negligence, or that of our employees, agents or subcontractors).

11.2. Wirex’s liability to you under these terms shall be limited to the fees paid by you to Wirex in the 3 months preceding the breach claimed.

11.3. Any liability arising out of a breach of these Cryptocurrency Terms will be limited to any loss or damage that is a reasonably foreseeable consequence of such a breach and which arises directly from the actions of the defaulting party. Neither party shall be liable for any indirect or consequential losses, including but not limited to loss of profits, sales business or revenue.

11.4. Wirex will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty or otherwise, whether direct, indirect, special, punitive, exemplary or otherwise, arising under or in connection with your: A. use of, or inability to use, the Website, Wirex App or Cryptocurrency Services; or B. use of or reliance on any content displayed on the Wirex App, except where such liability arises as a result of our breach of contract, negligence or fault or C. any theft, loss, hack or other depletion of value of any wallets holding Supported Cryptocurrency suffered by our Cryptocurrency Custodian(s).

11.5. We will not be liable for any loss or damage that you may suffer because of any abnormal or unforeseeable circumstances outside our reasonable control which would have been unavoidable despite all efforts to the contrary, for example, delays or failures caused by problems with another system or network, any breakdown or failure of transmission, communication, data processing or computer facilities, mechanical breakdown, an act of state or government, war, riot or terrorism, any act of God, the suspension of any market, postal or other strikes or similar industrial action or any prevention from or hindrance in obtaining any materials, energy or other supplies necessary for the performance of our obligations under these Cryptocurrency Terms.

11.6. We use industry standard techniques to protect our Website and Wirex App but cannot guarantee that either will be free from viruses or other malicious software, nor subject to any type of cyber attack. We will not be liable for any loss or damage caused by a virus, distributed denial-of-service attack, or other technologically harmful material that infects your computer equipment, computer programs, data or other proprietary material due to your use of our Website or Wirex App or due to your downloading of any content on it, or on any website linked to it.

11.7. We will have no liability for not displaying on the Website or Wirex App, for withdrawing or for not enacting a request to obtain or limit exposure which you submit to us.

11.8. For the avoidance of doubt, if your Wirex Account is subject to a fraud or an unauthorised transaction then Wirex’s liability will be in accordance with our General Terms of Service which can be found HERE;

12. Customer Support & Complaints
12.1. We take all complaints seriously. Any complaints about us or the services we provide should be addressed to Wirex Customer Support. Please clearly indicate that you are wishing to make a complaint to us. This helps us to distinguish a complaint from a mere query. Our complaints procedure (available on our Website) sets out the process for submitting and resolving any complaints. You may request a copy of our complaints procedure at any time by contacting customer services via the chat function on the Wirex Dashboard.

12.2. We’ll promptly acknowledge your complaint, keep you informed as to progress, and send you a final response within 8 weeks of your complaint having being made. If we can’t give you our final response within 4 weeks due to unforeseen circumstances or lack of information, we will contact you accordingly.

12.3. Please note that as cryptocurrency exposure is not regulated by the FCA (and the UK’s money laundering authority) you will not have any recourse with the Financial Ombudsman in the event of a complaint.

13. Miscellaneous
13.1. These Cryptocurrency Terms shall be governed by the laws of England & Wales and any claim or dispute under these Cryptocurrency Terms shall be subject to the exclusive jurisdiction of the Courts of England & Wales.

13.2. We may report any unlawful activity (or suspected unlawful activity) by you or another person to the police or other appropriate authorities, and cooperate with them in any investigation. We may also require your reasonable cooperation in any investigation we or an authority carries out about unauthorised use of your Wirex Electronic Money Account or Wirex Card.

13.3. We may make amendments to these terms in accordance with clause 32 of our General Terms of Service.

13.4. It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. We are not responsible for determining whether taxes apply to your Wirex Transactions, or for collecting, reporting or remitting any taxes arising from any Wirex Transactions. It is your responsibility to comply with any and all applicable tax laws in connection with your use of the Cryptocurrency Services, including without limitation, the reporting and payment of any taxes arising in connection with Cryptocurrency Services made through the Cryptocurrency Services.

13.5. You may not transfer any rights, interests or obligations you have under these Cryptocurrency Terms without Wirex’s prior written consent.

13.6. Wirex reserves the right, but shall have no responsibility, to edit, modify, refuse to post or remove any provider content, in whole or in part, that in its sole and absolute discretion is objectionable, erroneous, illegal, fraudulent or otherwise in violation of these Cryptocurrency Terms.

13.7. A reference to writing or written includes email and the chat function on the Wirex Dashboard.

13.8. These Cryptocurrency Terms shall be concluded and interpreted in the English language. If these Cryptocurrency Terms are translated into another language, it is for reference purposes only. All communications between the parties shall be in the English language.