Out with ICOs, in with IEOs
The new fad in the cryptosphere is ‘Initial Exchanfe Offerings’. Basically, these are ICOs given by exchanges to help raise funds for growth. Owning these tokens gives users benefits - we will discuss the benefits Wirex's IEO will offer in a bit.
Wirex's IEO is formally going on the 26th June, but current users will have access on the 13th of June. Only 1% is going up for sale so I imagine it will be going quick.
So for those of you who haven’t heard of Wirex, it’s a crypto solution that aims to bridge you’re cryptocurrency and the ability to pay in stores. With their own (quite cool) green Visa card you can spend the bitcoin you own. If you want to HODL your bitcoin and spend fiat, you can - although Wirex only has limited fiat accounts.
What many people find attractive about Wirex however, is it’s unique CryptoBack scheme. You can earn 0.5% BTC back on every in-store transaction you make - pretty cool right ?
WXT - a stellar based token
WXT is the token that Wirex is offering. At $0.01 per WXT, we will be given the opportunity to buy via the OKEx platform. The benefits of holding WXT will be reduced transaction fees (currently there is a £1 monthly charge for the account) and reduced exchange fees. Furthermore, you will get enhanced CryptoBack. The amount of discount and cryptoback you benefit from is dependent on the amount of WXT you hold. The minimum for benefit is 50,000 WXT.
Wirex seems to be integrating more with IBM and Stellar to offer more services. They are building 26 different stablecoins on the Stellar blockchain, which can help propel the business case for cryptocurrencies. This is promising and may really help wide-use of cryptocurrencies.
If you would like to sign up to Wirex, please feel free to use my referral code. We both get some $5 bitcoin when you spend $100.
**Referral code: **https://wirexapp.com/r/yk101