The visitors had no answer to the pace and elusiveness of the 20-year-old wing, who must surely be in the future thoughts of the national selectors, having been omitted from the recently announced squad for the autumn internationals.
Tom Varndell also impressed with two tries but Wasps should have won by a far greater margin. They were careless at times and it didn't help that Nicky Robinson missed five from his six attempts.
Wasps suffered a blow before the match when England squad member, James Haskell, withdrew with an illness.
The home side made a dream start opening the scoring in the third minute. Welsh wing, Phil Mackenzie, carelessly knocked on allowing the hosts a scrum on the 22 metre line. Wasps won the ball and moved the ball sweetly along the line for Wade to speed past the cover defence for the try.
Robinson missed the conversion but soon afterwards was successful with a 35 metre penalty.
Gavin Henson had Welsh's first opportunity for points with a 45 metre penalty attempt but he lost his footing as he made contact resulting in his kick falling short.
However he made amends with his next effort, this time from 20 metres out, to leave Welsh 8-3 behind.
Wasps dominated the first half hour in terms of possession and territory and they deservedly extended their lead when Lee Thomas and Wade worked Varndell in the clear on half-way.
The wing took his chance by outflanking the cover for an excellent individual try.
Henson attempted an ambitious 60 metre penalty but his kick fell comfortably short but when Marco Wentzel was offside, the outside half fired over a 50 metre kick.
On the stroke of half-time an alert Lee Thomas dropped a wide-angled goal in impressive style to give Wasps a 16-6 lead but that success was tempered when the influential Joe Simpson was stretchered off with a leg injury after the players had left the field for the break.
Early in the second half Welsh missed a chance to reduce the arrears when Henson was off target with a 45 metre penalty and they were made to pay when Wade scored a breathtaking second try.
Robinson fielded a clearance kick just inside his own half and fed Wade. The wing's brilliant footwork evaded two defenders before accelerating away from Tyson Keats for a stunning score. Robinson missed his third conversion attempt.
From their first attack of note, the Welsh collected their first try when following a quick dart from Keats and a neat pass from Alfie To'oala, Mckenzie was able to force his way over in the corner.
Henson and Robinson both missed penalties so Wasps held a 21-11 advantage going into the final quarter but it wasn't long before Wasps sealed victory with their bonus point try when Varndell was presented with an easy run in.
The spirited Welsh responded with their second try when prop Franck Montanella drove over from close range and two minutes from the end, a penalty from Gordon Ross gave them hope of a bonus point but that was almost immediately extinguished when Lee Thomas responded with a 30 metre effort.
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