Wealth management platforms founded in blockchain technology now abound. But few make providing users with the infrastructure and tools to manage their crypto investments a primary focus.
That's where SwissBorg is different. This innovative and intuitive platform assists customers in navigating crypto investing. What's more, SwissBorg seeks to provide clarity when it comes to scattered infrastructure and tools that have yet to become standardized. In this SwissBorg review, we'll take a closer look at the platform and whether it has achieved this vision.
Keep reading for a full breakdown of this wealth management platform.
What Is SwissBorg?
The brainchild of founders Cyrus Fazel and Anthony Lesoismer, the SwissBorg project is headquartered in Switzerland. The company's multi-disciplinary and multi-cultural team members are located worldwide, with members in more than 20 nations.
When the company launched in 2017, it entered the market at the height of the crypto rally in December. Before its launch, the company raised more than $50 million to back the project.
There's an obvious reason for the enthusiasm that came with the start of SwissBorg. This blockchain-based secure wealth management platform for crypto investments is the first of its kind.
So, how does the company achieve its goal of simplifying the process of investing in digital currencies? There are several ways that Swissborg is going about this. They include integrating with the major cryptocurrency exchanges while offering a community-based ownership model.
The SwissBorg Team
SwissBorg's team members boast years of experience in portfolio management and financial advisory services. What's more, many of these team members graduated from the top business schools in Europe.
While employees have investment and finance experience, many could use a deeper foundation in blockchain technology. Fortunately, SwissBorg is not an overly sophisticated blockchain project. So, this limited blockchain experience might not prove a massive issue in the long run.
SwissBorg: Two Mobile Applications
To help users gain a handle on crypto investing, Swissborg offers two mobile applications:
- The Wealth App
- The Community App
Both apps are available for iOS and Android devices. They make accessing and using the platform streamlined and simple.
To date, the company has many impressive achievements under its belt. These include the increasing usage of a gamified Bitcoin (BTC) prediction app, a high-performing native token (CHSB), and the creation of a large community.
Interested in learning more about crypto-assets? Explore various crypto coins to gain a better handle on the market.
Benefits of Using the SwissBorg Wealth App
At the centre of the platform is the SwissBorg Wealth App. This app permits users to manage and create their crypto portfolios. This app makes managing crypto-assets a cinch.
When you download and start using it, you'll be impressed by the dashboard, which proves highly intuitive. SwissBorg takes the guesswork out of digital currency investing.
What can you do with this app? It proves highly flexible and permits consumers to fund their SwissBorg accounts in a variety of fiat currencies. These include:
Besides access to these fiat currencies, SwissBorg also makes bank transfers a breeze. Because SwissBorg banking partners belong to the Faster Payments network and Single Euro Payments Area (SEPA), you'll enjoy bank transfers in as little as five minutes!
What's more, the Wealth App continues to add new assets regularly. Now that you've got an overview of the Wealth App, let's deep dive into some of its details.
Wealth App: Smart Engine and Other Tools
When you use the Wealth App, the Smart Engine ensures that you gain access to the best exchange and liquidity rates at any given time across the full range of crypto markets.
How does this work? The Smart Engine analyzes trading pairs by the hundreds in real-time while searching and connecting with all major digital currency exchanges. In the process, users gain access to the best selling and buying rates in supported crypto or fiat currencies.
You'll also feel excited to hear that the Wealth App continuously analyzes supported assets gaining better insight into portfolios through deep learning algorithms. These tools include analyzing performance, providing real-time advice, and offering users with a weak understanding of some aspects of investing assistance.
By harnessing the benefits of artificial intelligence (AI), the Wealth App allows investors to predict the direction of trends. What's more, it permits them to help users hone their timing and decision-making skills when investing in digital currencies supported by the app.
The Wealth App Crypto Bundle
Besides the tools listed above, you can also take advantage of the Wealth App by using its crypto bundle to diversify and take the guesswork out of investing. These crypto bundles refer to pre-selected groups of cryptos bundled together similarly to how a fund operates.
As a result, this can help improve performance and lower risk. These crypto bundles often get rebalanced as funds shift into the most optimally performing assets and out of the most poorly performing ones.
As you can see, SwissBorg relies on sophisticated techniques for portfolio management, making investment more streamlined and intuitive than ever before.
The Smart Yield Account
What else do you need to know? The Wealth App also includes a Smart Yield account, a new addition that permits customers to earn annual returns for depositing various digital currencies.
Due to the program's newness, SwissBorg is accepting requests to go on a waiting list for this feature. Over time, the company is slowly transitioning more and more users into the program.
A Smart Yield account connects users with selected counterparties, providing access to a full range of decentralized financial applications. The result? A best-in-class yield program.
This program guarantees customers take full advantage of the best market opportunities, resulting in optimal returns for the most acceptable risk levels.
Right now, the only asset supported in a Smart Yield account is the USDC coin. It comes with an APY of 10.35% for standard Wealth App users. If you're a premium user, you'll receive 20.69%.
Stay posted for future developments. Why? Because the team at SwissBorg is in the process of adding Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and SwissBorg Token (CHSB) to the Smart Yield mix.
What to Know About SwissBorg's Community App
What about the SwissBorg Community App? This exciting concept permits users to speculate on the future price of Bitcoin. If their speculations prove right, they can even earn Bitcoin.
In other words, the Community App gamifies learning about Bitcoin. Available in both iOS and Android versions, it's easy to install and start using. You can be up and running in 90 seconds or less.
SwissBorg: Safety and Security
It's hard to go a day without hearing about an attempted or successful hacking event in the crypto world. As digital currencies continue to grow in value, they've become more attractive targets for cybercriminals.
Fortunately, SwissBorg understands the threats created by hackers. They've made the security of their users’ funds and the Wealth App a number one priority. For this reason, they've invested in robust security protocols.
These include platform stress tests, MPC cryptography, and the creation and implementation of advanced security software. For this reason, the Wealth App is strong and stable.
It proves safe from glitches, bugs, and hackers. What's more, it ensures user funds always remain secure.
What You Need to Know About Fees
Some entities and platforms in the crypto industry promise low or even no fees. But these companies have no transparency supporting their claims.
Unlike these platforms, SwissBorg has created one of the most transparent fee structures in the crypto-industry. It's focused 100% on offering users no hidden fees and the best exchange rates.
Of course, this doesn't mean there are no fees at all. But SwissBorg makes these fees completely transparent.
Transparent fees permit users to feel confident about what they're paying. What's more, they let customers compare the best exchange rates available at all times in a concrete manner.
Which Countries Are Supported by SwissBorg?
You can use SwissBorg in more than 115 nations worldwide. They have plans to add many more countries moving forward. Residents of some countries, even those listed as supported, will not be able to access the full range of SwissBorg features, though.
When you verify whether your country is included on the list of supported nations, make sure you double-check on all of the services available, too.
Unfortunately, SwissBorg's supported list doesn't include the United States. Investors in America aren't able to open an account with the company. And they can't use the Wealth App because of the stringent financial regulations present stateside.
How Has the CHSB Token's Price Performed Over Time?
How does the CHSB token rate in terms of price-performance? In 2020, the CHSB token exploded in value. What do we mean by this? Let's take a quick walk down Memory Lane.
In February of 2018, the CHSB token sat at little more than $0.10 before nosediving to less than $0.01 by August of that year. The price didn't budge again until January 2020. At this point, it doubled, rising to more than $0.02.
The price stayed steady from there until May 2020. Then, it skyrocketed, hitting $0.15 within one month. It retreated to $0.07 by late October 2020 before climbing again. As of January of 2021, a single CHSB token costs more than $0.26.
|Coin||Platform||5 Star Rating||Interest Rate (APY)||Visit|
|USDC||Nexo||5||10%||Go to site|
|BTC||Nexo||5||6%||Go to site|
|USDC||BlockFi||4||8.6%||Go to site|
|BTC||BlockFi||4||5%||Go to site|
|USDC||Celsius||4.5||8.88%||Go to site|
|BTC||Celsius||4.5||6.2%||Go to site|
|USDC||Hodlnaut||3.5||10.5%||Go to site|
|BTC||Hodlnaut||3.5||6.2%||Go to site|
|USDC||CoinLoan||3.5||12.3%||Go to site|
|BTC||CoinLoan||3.5||7.2%||Go to site|
|GUSD||Gemini||1.5||7.4%||Go to site|
|BTC||Gemini||1.5||2.05%||Go to site|
|USDC||Crypto.com||4.5||12%||Go to site|
|BTC||Crypto.com||4.5||6.5%||Go to site|
|USDC||Ledn||2||9.5%||Go to site|
|BTC||Ledn||2||6.1%||Go to site|
The Pros and Cons of Swissborg
- That the app is open to everyone and is very well designed
- Transparent fees when buying or selling crypto
- Smart Yield, which allows for earning interest on crypto deposits
- The benefits gained by holding the CHSB token
- Premium membership with very competitive exchange rates and zero fees (a.k.a. “staking” on the wealth app)
- Access to future exclusive wealth management products and services in the app
- Earning amazing rewards for investing in the SwissBorg Ecosystem
- Voting rights on the referendums and future of the SwissBorg Platform
- Misrepresentation concerning the referral system, which rarely yields more than €2 and €6
- High fees of one percent for most transactions
- Premium staking requirements of €50,000
- Circulating coins (CHSB) have jumped twice by 100M and 200M for no real valuable reason, which proves questionable
- CHSB is only available on low-volume exchanges
- Customer support is poor
Swissborg Review: Frequently Asked Questions (FAQs)
Before deciding to invest money in a new platform, it can help to look at customers' most frequently asked questions (FAQs). What are users talking about when it comes to SwissBorg? Here's what they want to know.
Which Assets Are Supported by SwissBorg?
As of January 2021, SwissBorg supports 15 different cryptocurrencies and 15 fiat currencies. That said, the team is adding new assets regularly to their Wealth App.
What Do You Need to Know About the SwissBorg Network Token (CHSB)?
The SwissBorg platform uses the native token CHSB. An ERC-20 token, it has a total supply of one billion and a circulating supply of 933 million.
What about the remaining tokens? They're held in reserve for further promotion and development of the project.
Most CHSB tokens get traded at HitBTC. That said, some small volume trades happen at Uniswap and KuCoin. Many major exchanges (e.g., Bittrex and Binance) don't currently support trading the CHSB token.
What Is Protect and Burn?
The CHSB token has a feature called Protect and Burn. It protects the price of CHSB by burning tokens to decrease the circulating supply. This feature protects the token from devaluation and flash crashes.
Protect and Burn provides constant upward pressure on the price of CHSB. At the moment, 20 percent of the fees generated by the Wealth App get burned to reduce supply and protect its worth.
SwissBorg Review: Wealth Management Platform
In 2017, SwissBorg's $50 million+ fundraiser proved one of the most successful in the blockchain industry. The founders used these funds to deliver an amazing product that solves many of the problems associated with private wealth management in the context of cryptocurrency.
Is the project right for everyone? Not necessarily.
But as discussed in this SwissBorg review, the company has made significant headway towards realizing its mission of rendering digital currency wealth management more accessible and streamlined.
Are you ready to explore cryptocurrency investing further? Check out the leading CeFi and DeFi platforms offering crypto loans, lending, debit cards, credit cards, and more.