Most cryptocurrency exchanges don’t allow you to spend more than a certain amount per day, week, or month. Some exchanges also limit the total amount of bitcoin you can hold at any time.
Once your Wirex account is verified, you can deposit up to £7500 (or €8000, or $10,000) in one go. But you are free to deposit multiple times per day, and hold your money as fiat or exchange it for bitcoin.
For instance, if you’re looking to exchange £10,000 for bitcoin, you can do this in two goes. Just deposit the maximum of £7500 and instantly convert it into bitcoin. Then, deposit a further £2500 and convert that too. There is no limit on the number of transactions you can make in 24 hours or on the total value.
If you’re looking to exchange currencies from bitcoin, you can exchange up to £10,000 and make up to 5 transactions per day. The minimum spend is just £1 so you can get started with even a small amount of money.
What are the other spend limits on Wirex accounts?
The limits on your verified Wirex account can be different for alternative payment methods or other types of transaction. Bank transfer is your best option, but here’s what you should know about other limits.
When you buy bitcoin with an external local card, there is no limit on how many transactions you make in a day. However, the minimum transaction value is £25 and you won’t be able to spend more than £250 per week. The same goes for funding your Wirex account with an external local card – £250 per week is the limit.Payment services like PayPal and Alipay limit you to adding up to £400 per day to your Wirex account.
These options are perfect if you are investing as and when you can afford it, and not buying huge amounts of bitcoin in one go. Many Wirex users find this to be a helpful way to keep track of their spending and ensure they don’t get carried away during moments of FOMO (fear of missing out), or FUD (fear, uncertainty & doubt.)
Investors looking to spend more can enjoy the much higher limits Wirex gives you when you connect a bank account.
If you’ve dreamt of using bitcoin for everything from buying coffee to paying rent, you’ll be happy to hear that there is no limit on online and offline transactions. Spend as much as you want, however many times per day you like.
Wirex has much higher limits on ATM transactions than most crypto payment cards. Withdraw up to £800 in one go and up to £1600 per day. Never get left stranded without cash when you find yourself somewhere that doesn’t accept cards.
All of these limits are carefully calculated to give you as much flexibility as possible while making sure Wirex follows the necessary regulations and protects you from financial crime.
The benefits of higher spend limits
Pro investors find that Wirex’s high spend limits let them take advantage of investment opportunities. If there is a price dip, for instance, they’ll want to jump on it while they can get more bitcoin for their money.
Higher limits on ATM withdrawals and no limits on transactions let you use Wirex just like your regular bank and payment card. Spend as you would normally, all without the typical bank fees.
Another big benefit is that Wirex can help protect you and your family if there’s a financial crisis. You can quickly transfer money from your bank to your Wirex account to keep it safe. For instance, if your country’s inflation rate is skyrocketing, you can convert your savings into crypto as a secure store of value.
There are lots of benefits to having a higher spend limit. Most importantly, it gives you as much control as possible over your money without restricting your options too much. We also make sure we offer options for those of you who want to buy small amounts of crypto.