Wirex Credit Review

Wirex Credit is a Bitcoin backed loan feature that allows you to borrow up to $100,000 without selling your Bitcoin.



Wirex, a popular payment platform, offers Wirex Credit, a unique product that allows you to access credit in the form of stablecoins. This essentially means you can borrow up to $100,000 without selling your Bitcoin.

How Wirex Credit Works

To qualify for Wirex Credit, you’ll need an existing Wirex account with an active balance. This balance, for instance in Bitcoin, acts as collateral for your loan.

Opening a Wirex Credit line is a simple process:

  • Navigate to the “Wirex Credit” tab and click “Borrow.”
  • Choose the credit account you want to use.
  • Select your preferred loan-to-value ratio (LTV), collateral account, and desired borrowing amount.
  • Review and accept the terms and conditions before confirming the loan details.
  • Once approved, you’ll see your new credit reflected in your chosen stablecoin account.

Wirex Credit offers flexibility. You can use the borrowed stablecoins with your Wirex card, transfer them to an external wallet, or even use them for Wirex’s X-account, a high-interest savings account for Bitcoin.

Another perk is that you only pay interest for the days the credit line is active. You can close the credit anytime before the maturity date without penalty.

Wirex Loan-to-Value (LTV)

The LTV ratio is crucial for Wirex Credit. It determines the amount of credit you can borrow based on the value of your collateral. It’s calculated by dividing the borrowed amount by the value of your collateral, expressed as a percentage.

For example, if you borrow $100 in USDC and your Bitcoin collateral is worth $1,000, your LTV is 10% ($100 / $1,000 = 10%).

Wirex Credit allows you to repay the loan in full at any time or add more collateral to lower your LTV. There are no fixed monthly repayments; you simply repay the borrowed capital and any accrued interest whenever you’re ready.

Wirex Credit Limits

When opening a new Wirex Credit line, the maximum LTV you can qualify for is 70%. It’s important to stay informed about current market rates, as the LTV can fluctuate. If your LTV reaches 70%, Wirex will liquidate your collateral to close the credit line and recover their loaned amount.

Wirex Credit Alternatives

Wirex Credit isn’t the only option for Bitcoin-backed loans. Consider exploring other platforms that offer similar services to compare interest rates, LTV ratios, and other features before making a decision.

Wirex Credit competitors include the following:

Additional information

Bitcoin Only




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