Quantifying Wirex’s Token Utility
Looking purely at the token utility model, the utility of WXT Token seems vastly superior to other exchange tokens such as Binance Coin (BNB).
Even without looking at the 1.5% cash back or the lounge perks, we can see that holding 500K WXT tokens will provide a whopping 100% discount on platform fees.
This includes everything from “exchange fees, bank transfer fees, withdrawal fees, credit/debit card top-up fees, monthly management fees, ATM fees and SWIFT charges”.
To put that into perspective, SWIFT fees on Wirex alone costs $15 USD per transaction (this is already twice as cheap as banks).
If you run two SWIFT transactions per month, you already save $360 USD per year.
Suppose you also trade on the exchange and run about $10,000 in monthly trading volume. If we assume a 0.1% exchange fee, that would be $10/month and $120 USD/year.
You might top up your card a few times a month, which’ll also save you another 1% per top up.
For the sake of simplicity, let’s assume you can save $1,000 USD in trading fees each year, which seems quite reasonable based on our calculations above. You would make back your initial investment of $5,000 in 5 years AND you wouldn’t lose a single WXT token.
And that’s not all.
The initial circulating supply is 200M tokens, which essentially means only 400 users in the beginning can reap the benefits of a 100% discount in fees.
That means there’s tremendous upside because if there are 400 users who find the fees saved to be worth their investment, you’ve essentially locked the circulating supply if the token price were to remain constant.
As you can see, just the fees saved and the upside potential is well worth the investment. The other perks, are just a bonus.
Wirex Token Presale – Starting June 13!
In case you’re already feeling the FOMO, we have some good news for you – Wirex is having a token presale for verified Wirex users starting June 13, 2019!
The token presale will be available to all verified Wirex users, which is simply a matter of signing up and going through their KYC process.
The token presale will be first come, first serve, with only 200 million tokens (2% of circulating supply) available. We highly recommend checking it out if you’re interested in the project.
However, note that any tokens purchased during the presale are subject to a 6 month token lock up period.
We recommend keeping an eye on Wirex Token (WXT), especially considering that recent IEOs have been performing extremely well.
To top it off, Wirex app already have registered users of over 2 million, and with the attractive utility model for the Wirex Token (WXT), there’s a good chance that Wirex may perform just as well as previous IEOs.
One takeaway is that with the current hype of IEOs, it’s looking very reminiscent to the 2017 ICO space. It’ll be very interesting to see whether the 2019 IEO space will perform just as well as the ICO space did in 2017.