Cryptocurrency wallet WireX has announced that it has added support for Nano (Nano) to its list of cryptocurrencies that can be used to add funds to the WireX card. WireX is one of the most famous names in cryptocurrency enabled Debit cards; the WireX card can be used to make payments via cryptocurrency through VISA enabled cards. Hence, it can be used globally on POS (Point of Sale) machined to make crypto-payments.
The Card can be recharged using any of the following currencies USD, GBP, EUR, and Cryptocurrency. It is currently available to the users of the EEA (European Economic Area) only. They offer zero fee transactions and payments. The company has its offices in London, Singapore, Tokyo, Delaware, Toronto, and Kiev.
Wirex has introduced support for Nano (NANO) to make a purchase using the VISA enabled card. Bitcoin, Litecoin, XRP, Ether, WAVES, Wollo and DAI are the cryptocurrencies currently supported by the card. The company reported that NANO's technical prowess influenced the decision to add Nano.
Nano (NANO) was initially launched in 2014 by co-founder Colin LeMahieu. LeMahieu, an experienced developer from AMD and Qualcomm, identified the inefficacies in the design of Bitcoin and other popular cryptocurrencies. He introduced Railblocks, which was later rebranded as Nano to address the inefficiencies in the existing payment systems.
Nano is the only cryptocurrency to incorporate the concept of Block Lattice. In Block Lattice, unlike Bitcoin, every address/account records transactions in its chain of blocks instead of being filed on a single chain. This allows Nano to scale indefinitely and facilitate almost instantaneous low-cost transactions. Nano cryptocurrency is also eco-friendlier and more efficient than Bitcoin or Litecoin because it follows the DPOS (Delegated Proof of Stake) protocol instead of the energy-intensive mining process.
WireX also offers a reward system to retain the users on their platform by giving incentives. The incentives are provided in Bitcoins or other altcoins which is also the first of its kind Cryptocurrency-based reward scheme. WireX has also introduced a cashback scheme for all in-store purchases made in Nano with the Wirex Visa card. A pay back of 0.5% of the purchase will be reimbursed in crypto to accelerate the use of Nano.
The vision of most companies in the cryptocurrency sphere is to reduce the transaction cost and speed up the transfer of value; collaborations like these can create a healthy environment for cryptocurrency adoption.