May 5, 2021
5 min read

7 Things You May Not Know About CryptoSpend

Kevin J. Balighot

1. CryptoSpend is supported by the UTS Startups incubator hub

Andrew Grech and Richard Voice, two friends that met at University of Technology Sydney, co-founded CryptoSpend with a mission to bridge the gap between traditional fiat currency and cryptocurrency by reshaping the future of payments and helping accelerate mass adoption of crypto.

2. You can send crypto to your mates for free

You can send crypto to other CryptoSpend users in real time using a personalised handle, such as "@johndoe". The best part about this is that it all happens off-chain, meaning that there are no fees for the sender! So if a friend needs to pay you back for dinner, they can pay you in crypto through CryptoSpend!

3. We are popular with day traders

Many of our users love to HODL (Hold On for Dear Life) their crypto in our app as a long term investment and store of wealth, but we also have many users who are actually day traders that frequently use our app to cash out their crypto profits into Australian dollars. They tell us that they choose CryptoSpend over other similar services because we process payments faster (within seconds), we have a convenient, easy-to-use app that allows crypto payments on the go and we have responsive live-chat support. PLUS... we have an exciting new card coming soon!

4. Our app has a dark mode

You'll find that not every crypto app has a dark mode, but ours does! Dark mode was the highest requested feature during the first few months after launching the app, so we wanted to prioritise it for our users in the next major update. We are happy to say that this new feature has since been praised and welcomed with open arms.

5. CryptoSpend has some of Australia's largest backers as investors

We may have a relatively young team but we're not short on knowledge and expertise. We are also happy to have many great, accomplished investors and advisors who are very experienced in cryptocurrency, finance, fintech and business. They have been incredibly helpful in getting us to this point.

6. We are releasing a crypto payments card

Our long-awaited CryptoSpend Card is almost here... the card will allow users to spend their crypto on fuel, groceries, online shopping, etc. Basically any point-of-sale that accepts card payments.  This product launch will be the result of two-and-a-half years of hard work, and it'll help us achieve our goal of simplifying crypto payments for regular, everyday Aussies. Upon launch, we will become the first Australian homegrown company to release a crypto payments card that allows users to spend their crypto-to-AUD straight from their crypto wallet!

7. We're not stopping there. More features and cryptocurrencies coming soon!

The CryptoSpend Card will be our main product, but it will be far from our last product. We have a long list of new, innovative features lined up that we'll be implementing in the future. We are also planning to support many more currencies as we continue to scale and establish ourselves in the market. So keep an eye out for much, much more!

**All information in this article is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by CryptoSpend to invest, buy, or sell any coins, tokens, or other crypto assets. Any descriptions of CryptoSpend products or features are merely for illustrative purposes. Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. It is essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.

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On 17 April 2024, Cryptospend Pty Ltd commenced operating under the name of “Wayex”. This is a change in the business name of Cryptospend Pty Ltd and the entity remains the same. References to “Cryptospend” in the Product Disclosure Statement dated 18 October 2023 have been updated to “Wayex”.