In this article, we will review SwissBorg, a cryptocurrency investment platform based out of Switzerland.
Table of contents
- What is SwissBorg?
- How to get started with SwissBorg?
- SwissBorg Wealth App
- SwissBorg CHSB Token
- SwissBorg Review: Smart Yield Account
- SwissBorg Fees Structure
- SwissBorg Review: Security
- SwissBorg Review: Bonus
- SwissBorg Community App
- SwissBorg Review: Supported Currency
- SwissBorg Review: Customer Support
- SwissBorg Review: Pros and Cons
- Frequently Asked Questions
What is SwissBorg?
SwissBorg is a cryptocurrency investment. It was launched in 2017 during a cryptocurrency rally in December. Anthony Lesoismer and Cyrus Fazel raised $53 million to back this project, whose headquarter is in Switzerland. However, the team members are from over 20 different countries.
SwissBorg’s exchange purpose is to create a platform to provide a more accessible, safer, and faster way to trade and invest in crypto assets. According to Anthony, they want to allow ordinary individuals to work on their Wealth without any experts. They do so in several ways, including integrating with the major cryptocurrency exchanges.
This platform’s significant achievements include:
- Successfully creating a large community.
- Increasing the usage of the Bitcoin SwissBorg prediction app.
- CHSB (native token).
- It has more than 75 employers from all around the world.
- SwissBorg successfully raised $53 million in 2017.
- It supports two different gamified apps that are available both for Android and iOS version smartphones.
- The SwissBorg coin CHSB has more than 60,000 token holders.
- Seventeen fiat currencies are available for users to withdraw and trade.
How to get started with SwissBorg?
- Download and install the SwissBorg app.
- After installation, register your account and verify it by entering your phone number and email address.
- You will also have to provide your identity documents and your nationality.
Before registering yourself, check whether the app is available for your country or not. Click here to find the list of countries that can download it.
SwissBorg Account Types
SwissBorg has two different types of accounts: Standard and Premium. Even though both versions have great features, the premium one holds more convenience and benefits for investors. Users with a premium account enjoy the benefits like 0% exchange fees on CHSB, stable coin, and BTC and no hidden costs. They also get a boost in their daily earnings.
To activate your premium account, follow the following steps:
- Download the app, and register yourself by following the above steps.
- Now, purchase a 50,000 CHSB token using your desired currency.
- The final step is to click on the premium tab to activate it.
Note that the users have to stake on the 50,000 CHSB for 12 months. During this period, the tokens will be locked, and users cannot withdraw or exchange them. However, after 12 months, users are free to withdraw or exchange them. To maintain their premium account, users have to keep them staked.
In general, SwissBorg has three levels of the verification process. Based on those levels, users have different options and limits.
Level 1: The level 1 verification is done after checking your identity document. At this level, you can deposit and withdraw funds up to 5000 euros.
Level 2: You reach this level after your home address verification. You can complete it by sending a document like a bank statement on which your address appears. At this level, you will be able to deposit and withdraw funds up to 50,000 euros.
Level 3: It is accessible after verifying the origin of your funds. You don’t have any limits at this level.
SwissBorg Wealth App
SwissBorg APK is the main selling point of this platform. Its intuitive and straightforward features have gained more than 100K users with an average rating of 4.5.
1. Smart Engine
The price difference that occurs in different platforms is due to market volatility, and smart engine takes advantage of this and finds the best route possible. This way, the users get the best price in a few seconds after searching through top exchange platforms like Binance, HitBTC, LMAX, and others.
2. Portfolio Analytics
According to SwissBorg, users can get a deeper insight into their portfolio performance with their analytical tools. This tool gives a quick overview of total deposits, withdrawals, profit/loss, and fees. With the help of this data, users can monitor their portfolio performance and can invest smartly. The Cyborg advisors also predict trend direction using deep learning algorithms to help users make better investment decisions.
3. Advanced Security
SwissBorg’s topmost priority is the user’s data and transactions security and safety. Therefore, to tighten and maintain their protection, they continuously invest in numerous stages like Platform stress testing, Advanced security software, and MPC cryptography. This speaks volumes about the safety of the user’s assets.
4. Transparent Fee Structure
Many exchange platforms are claiming that they offer low fees or no fees. But they don’t have any transparency to back up their claims. Whereas SwissBorg focuses on providing users best rates with no hidden fees. The transparency allows users to be sure about their costs and is free to compare whether they are getting the best rates or not.
5. Multiple Assets in One Bundle
You can exclude the guessing from the cryptocurrency market’s investments by investing in the SwissBorg wealth app’s crypto bundles. The bundles contain the pre-selected crypto assets grouped to mitigate risk and enhance the chances of profit.
SwissBorg CHSB Token
The SwissBorg platform has their native coin CHSB. Till now it has a total supply of 1 billion. While most CHSB tokens are traded at HitBTC, some small volume deals at KuCoin and Uniswap. The top crypto exchanges like Binance and Bittrex do not support it.
It was during 2020 that the SwissBorg token price saw a boost. Before that, it was just $0.10 in February 2018 and under $0.01 by August 2018. The price was the same until Jan 2020, when it increased twice the previous amount ( around $0.02). After May 2020, SwissBorg coin price again rose upwards to $0.15. In January 2021, the price of the CHSB token was around $0.26.
Benefits of CHSB Token
- Governance: Users can participate in the future of SwissBorg by getting voting rights on the referendums.
- Protect and Burn Mechanism: With this feature, you can benefit from a decrease in token supply. This mechanism helps support CHSB tokens’ price by buying back and burning the circulating tokens when the price tends to lower.
- Meritocracy: Under Meritocracy, users can contribute to the SwissBorg ecosystem to earn rewards. When you hold a CHSB token, RSB tokens are generated. By using these RSB tokens, users can vote.
- Premium Membership: If you buy and stake the 50,000 CHSB coins, you will enable the membership account for you.
SwissBorg Review: Smart Yield Account
This is a new feature of the SwissBorg exchange platform to the Wealth App. The SwissBorg yield wallets are secure and straightforward ways to earn yields on the users’ favorite crypto tokens. It offers two categories of yield wallets: smart yield and CHSB yield Program. Each of these has a different mechanism to calculate a yield. Users can earn up to 32% per annum on stablecoin.
As an update, SwissBorg also added Ethereum in the smart yield wallet in March 2021, and it offers a yield of up to 17.5% p.a. More than 50 million USDC generates returns every day in the SwissBorg Smart Yield wallet. At the same time, the premium users enjoy the leverage of receiving an average return of 20.77% p.a. over the past 90 days.
SwissBorg Fees Structure
There are no charges on depositing funds on fiat assets, virtual currencies, CHSB tokens, and stable coins. However, there are chances that users have to pay while they are using the intermediary banks.
SwissBorg charges a minimum withdrawal fee of 0.10% of the total amount of fiat assets and virtual currencies. As mentioned in the deposit fees, you may have to pay additional charges by the intermediary banks for the operation.
The transaction fee differs based on the type of account you hold: Standard or Premium. Check out the below table to get the fee structure’s whole idea or directly check from their website.
SwissBorg Review: Security
When it comes to security, speed, and stability, it’s hard to beat the SwissBorg wealth app. The security features that make it stands out are:
- Offline Cold Wallet Storage: This exchange platform uses a multi-signature offline cold wallet storage system to store the user’s assets. It makes sure to protect individuals from hackers and other risks.
- 2FA Security: The 2-factor Authentication feature of the Wealth app acts as an extra layer of security to protect users from any hazards. Users can enable the 2FA from their settings.
- Account Recovery: When the users change their gadgets, forget their passcodes, or loses their device, they could recover their account quickly. Click here to check the whole process of how to recover your account.
SwissBorg Review: Bonus
SwissBorg Bonus or Reward program is a referral program. Every user receives a bitcoin worthy of €100 when they enroll them into the App reward program.
You can use the SwissBorg referral code to invite your friends, and both of you can earn a Reward Ticket of value from €1 to €100. Follow the below steps to earn referral rewards:
- Share the unique reward link generated in the Reward Tab of your SwissBorg App.
- Let your friend downloads the SwissBorg App, and complete a minimum deposit of €50.
- Once your friend completes the second step, both of you will receive a reward ticket.
SwissBorg Community App
The community App of SwissBorg is an intriguing concept, which allows the users to guess the future price of Bitcoin. If the assumption is correct, they will earn Bitcoin. The SwissBorg made it to promote learning about Bitcoin using the gamified process. This application is also available both in the iOS and Android versions, and the whole installing and registering process only takes up to 90 seconds.
SwissBorg Review: Supported Currency
The SwissBorg Wealth app supports 15 different fiat currencies, including EUR, GBP, RON, HUF, CHF, USD, BGN, SEK, CZK, NOK, ILS, HKD, PLN, DKK, and CAD. With these fiat currencies, the app supports 15 crypto-fiat pairs. Users can also create their crypto-fiat pair on the app. They have to pick a fiat currency that it holds and merges with the available cryptocurrencies.
SwissBorg Review: Customer Support
To solve the queries of the customers, the SwissBorg website contains extensive articles on the help center. This section answers almost every question. However, if the user still has doubts, then they submit a request. Users can also join the different communities on different social platforms like Instagram, Reddit, Telegram, and others. This platform also maintains its physical offices in Switzerland, Canada, London, and Tokyo. So, people from these countries can directly contact them.
SwissBorg Review: Pros and Cons
- It supports both 15 fiat currencies and crypto deposits/withdrawals.
- It holds multiple cryptocurrencies.
- Users assets and data security is the top priority.
- The Fee is low compared to other platforms.
- It has an intriguing reward program.
- The app is available in both Android and iOS versions.
- Promotes learning while playing games.
- It does not have a desktop app.
- KYC is compulsory.
- It does not accept U.S. citizens.
The SwissBorg was successful in creating a unique product that solved many problems associated with Wealth management. Not only that, it made investing in cryptocurrency simple, fun, and accessible to everyone. It has more than 150,000 users on Community App, which speaks volumes about how people support and prefer it.
The Wealth App by SwissBorg is another powerful, innovative, and yet simple solution to cryptocurrency investing. With this app, users can perform operations quickly. The tools it provides help individuals to make their portfolios stronger and better without any experts.
Suppose SwissBorg keeps on updating and maintaining its features, customer support, and security. In that case, it wouldn’t be a surprise that it will become one of the foundational crypto projects that will continue to set the pace for wealth management for decades.
Frequently Asked Questions
is SwissBorg available for USA investment?
Due to financial regulations in the U.S., their citizens can not register themselves on the SwissBorg or can not use their app.
Is SwissBorg safe and legit?
Yes, SwissBorg is one of the trusted blockchain-based investment platforms, aiming to make it available for all. It is a fair, safe, and easy platform to invest in cryptocurrencies.
SwissBorg open to what countries?
You can check here to get the complete list of available countries, which can access SwissBorg.
How long do SwissBorg deposits take?
The fiat withdrawals and deposits can take from a few hours to days ( 1-5 business days). The exact time depends on the internal banking processes.