My Wispay

Wispay FAQ

Wispay is a free and easy-to-use Cryptocurrency transfer and payment service.

Through Wispay, we hope Cryptocurrencies can benifit everyone. After signing up, Wispay users can start receiving Cryptocurrencies from anyone by sharing their own Wispay links.

Anyone (Whether they are Wispay members or not) can send Cryptocurrencies through a Wispay Link to the its owner.

Registered Wispay member can generate different Wispay Links for different circumstances. For example, you can generate one link to accept USDT from your fans group, and another link to accept ETH from your friends.

You can specify two things when generating a Wispay Link:

  • Preferred Coin: Which Cryptocurrency you would like to receive through this link. By specifying 'Preferred Coin', all the transactions through this link will be automatically converted into the specified coin, if the amount exceeds the minimum exchange rate. If you leave it 'unspecifed', you will receive exactly the same type of coin from the sender.
  • Tag: Tag is an unique name (e.g. 'For Customers', 'For Twitch Community') you can give to each link, so that you can track down and monitor the performance from different channels.

Wispay is not here to replace your Paypal, but as a supplement to increase your income.

Under certain circumstances, Wispay / Cryptocurrencies might be a better and more cost-efficient way to accept payment compare to Paypal:

  • If your potential payers are from different parts of the world: You don't need to worry about foreign exchange rate any more when using Cryptocurrencies. Let’s say you want to transfer $10,000 to France. Your $10,000 may actually be worth 9,400 euros, but a bank may convert your $10,000 to 9,000 euros instead. This means you’ve effectively lost 400 euros. On the other hand, when you transfer 2 bitcoins (whose estimated value is $10,000 as well) from one address to another, you only need to pay for the network fee for the blockchain, which is around $0.1 per transaction.
  • If your potential payers don't want to leak their personal information like credit card number and billing address: As there is no centralized bank who controls your Cryptocurrency account, you don't need to give out any personal related information when make the transaction.

Wispay suits you the best if you belong to any of the following categories:

  • If your potential payers are from different parts of the world
  • If you get paid mostly online
  • If you are running your own blog or stream and want to make money from them
  • If you are running a nonprofit organization and want to get donations globally
  • If you or your potential payers don't want to give out your personal information when getting paid

Compare to Paypal's 3% transaction fee for every transaction, Wispay only charges 0.5% on transactions who need coin conversions

Which means if you don't set the 'Preferred Coin To Receive', Wispay does not take any cut on transactions through that link. And No, there is NO fees on withdrawal as well.

But some other fees might be charged by blockchains and third party partners:

  • Network fees: Network fees are charged when transfering coins inside blockchains. Network fee amount on different blockchains may vary, but it's generally pretty low. Take Litecoin as an example, the network fee is around $0.02 for each transaction.
  • Exchange fees: Exchange fees are only applied when the coin exchange is needed (e.g. if the receiver specified a different kind of Cryptocurrency than the sender sent.). Wispay has partnered with few third party exchange services like Changelly to automatically convert the coins. Exchange fees charged by our partners is generally around 1%, and Wispay takes 0.5% in addition to that.

No, not really

Wispay will waive the network fees for transactions between registered Wispay members, if they send coins directly from their balances.

For example, if you have 1 pre-deposited (or received) ETH in your balance, and you send it to another Wispay user, he or she will receive 1 ETH (instead of 0.993, where network fee was deducted) instantly without waiting for blockchain confirmations.

We all know the Crypto market is volatile, but don't worry, we got your back

Wispay supports 4 different stable coins (USDT, USDC, TUSD and DAI), whose value is always ~$1USD per coin.

If you don't want to take the risk, you can specify one of the stable coins for your Wispay Link. All the transfers through the link will be automatically converted into it. Which makes sure your account balance will never shrink.

Wispay support 60+ Cryptocurrencies

Which covers most of the main stream coins on the market.

No, you don't need to

You can send coins through a Wispay link as long as you own Cryptocurrencies, despite you are a registered Wispay member or not.

You need to register Wispay before you can receive Cryptocurrencies with Wispay Link

Other than being able to receive Cryptocurrencies, there are several other benefits by becoming a Wispay member:

  • Free and instant transfers between Wispay members send from their balances.
  • Pre-generated 'get donation' button code for your website or blog.
  • Real-time messaging with other Wispay users. (coming soon)

You can buy coins from any of the following exchanges.

These exchanges are proven to be trustworthy through our careful selection from thousands of exchanges around the world.

There are many Crypto wallet services around the world that you can choose from

Here is a list of Crypto wallet services that our staff's been using:

  • Cobo Wallet (All coins supported). Use invite code 4ODL65 if you want to get a sign up reward.
  • imToken (supports mainly ERC20 tokens)
  • Trust Wallet (supports mainly ERC20 tokens)