Users of the SwissBorg app are given access to the greatest liquidity and exchange rates available at any moment on the larger crypto marketplaces thanks to the Smart Engine. The lack of inflated exchange rates, hidden fees, or spreads is one of SwissBorg’s customer favourites. SwissBorg takes pleasure in offering a low-cost platform; all fees are clear and modest, and all proceeds are invested back into the SwissBorg ecosystem.
By connecting to and searching popular cryptocurrency exchanges like Binance, Kraken, LMAX, HitBTC, and Bitfinex, the Smart Engine evaluates hundreds of trade pairings in seconds, determining the best path to execute customer orders in milliseconds. This spares you the trouble of having to shop around for the best exchange rates and enables the app to find the cheapest prices for buying or selling in any of the supported fiat or cryptocurrencies.
What is SwissBorg?
Anthony Lesoismer and Cyrus Fazel, the project’s founders, are the minds behind SwissBorg. At the height of the 2017 cryptocurrency boom in December, the two announced the project after initially raising $53 million to support it. With strong growth in 2021, SwissBorg rose to the top of the European cryptocurrency exchanges, with its native CHSB coin achieving “Unicorn Status” and surpassing the coveted $1 billion market value milestone.
SwissBorg, a well-known cryptocurrency exchange in Europe, has its headquarters there. It has employees all over the world, with its multi-cultural and multi-disciplinary staff, which currently numbers about 300 people, including people from more than 20 different nations.
SwissBorg is a safe wealth management tool for bitcoin investments built on the blockchain. It is the first of its type, and its goal is to make investing in cryptocurrencies simpler. It accomplishes this via a variety of techniques, including as integration with the main cryptocurrency exchanges, DeFi protocols, and a community-based ownership model.
The award-winning SwissBorg App, which is accessible for iOS and Android smartphones in addition to the PC platform, makes it much simpler to access the platform. The awards won by the SwissBorg team are extremely outstanding, not just in terms of growth and adoption, but also when you consider the 4.5-star reviews for the app and other recognitions like the Top Swiss Fintech Startups award and the Mass Adoption Project of the Year award.
The project’s top accomplishments include raising $53 million in funding successfully, building a sizable community, reaching a $1 billion valuation, releasing two successful apps, developing the hugely well-liked Smart Yield wallets, initiating community-led projects, establishing the SwissBorg DAO, and seeing significant adoption of both the platform and the native SwissBorg token (CHSB).
There are already over 115 countries where SwissBorg can be utilised, and there are plans to include many more in the future. One thing to keep in mind is that citizens of some nations are unable to use all of SwissBorg’s capabilities. Visit the Swissborg Supported Countries page to find out if your nation is included and what is supported.
The United States stands out as one noticeable omission from the list. Due to the strict financial restrictions in the U.S., investors are unable to sign up for a SwissBorg account or use their Wealth App.
SwissBorg Team
“A team of finance and technology specialists dedicated to improving the cryptocurrency business by making it interesting, fair, and meaningful for all,” claims SwissBorg.
The SwissBorg website states that the entire team is made up of 20 different nationalities, but only displays the team’s top nine members, including its two founders Anthony Lesoismer and Cyrus Fazel. Many members of the SwissBorg team have extensive backgrounds in financial consulting services and portfolio management. Many of them are also alumni of some of Europe’s best business schools.
One of SwissBorg’s founders, Cyrus Fazel serves as the company’s CEO. Cyrus is a multiracial fintech expert with more than ten years of experience in algorithmic trading and asset management. He was Senior Hedge Fund Advisor and Head of the Investment Management Platform at SEQUOIA Asset Management SA before to creating SwissBorg.
In addition to hi
s position at SwissBorg, Cyrus is the co-founder and co-leader of Disruption Disciples, a decentralised worldwide collective of innovators and technology enthusiasts drawn together by a common set of principles and a desire to use exponential technologies to create a better world. Through regional and international get-togethers, ongoing dialogue, and teamwork, they investigate and develop innovative answers to urgent problems.
The other co-founder of SwissBorg and its CSO is Anthony Lesoismer. Anthony served as JFD Brokers’ Head of Financial Market Digital-Advisory before to starting SwissBorg.
The chief technology officer (CTO), Nicolas Remond, is a qualified software engineer. He went on to work in a number of software development and design professions after earning his Master of Science in Computer Science from the Ecole Nationale Supérieure des Mines de Paris.
The staff as a whole has a wealth of financial and investing expertise, and judging by their expansion and performance, not to mention their amazing roadmap rollouts and future developments, it would seem that they have the right people in the right positions. On the About us page of SwissBorg, you can read more about the crew.
SwissBorg Exchange Key Features
The platform’s hub is the SwissBorg Exchange app, which enables users to build and manage their cryptocurrency portfolios as well as purchase, sell, earn income, and more. It is a simple and clear approach to manage your cryptocurrency wealth.
SwissBorg Thematics- Crypto Portfolio Bundles
With its great design and diversified crypto portfolio exposure, SwissBorg Thematics makes investing in cryptocurrencies simple. This “coming soon” feature has the potential to completely alter the investing landscape for cryptocurrency. I’m very excited for this one!
Investing in cryptocurrencies might occasionally like trying to throw darts at a moving dartboard while wearing blinders. Allow SwissBorg to take the uncertainty out of it for you by letting their expertly constructed bundles offer the kind of exposure and diversification to the crypto market that every crypto investor needs.
The bundles that investors can select will be organised around topics. Investors can choose a theme they have faith in for the long term, and the SwissBorg app will automatically expose them to the best projects within that theme while rebalancing allocation and adjusting as needed based on market conditions to maintain ongoing diversification and exposure.
This is merely an illustration since we are unsure of the themes that will be offered, but I imagine you could choose options like layer one themes that would include a collection of layer one protocols like Ethereum, Cardano, Solana, Avalanche, etc., or metaverse themes that would expose you to projects like Decentraland and the Sandbox.
This is particularly revolutionary because active portfolio management, which is frequent in traditional finance, is carried out by Portfolio Managers and Financial Planners, who are often only accessible to the wealthy. This amazing feature just serves to emphasise my love for the cryptocurrency sector. In the conventional financial sector, services like these are not accessible to the typical retail investor.
SwissBorg Smart Yield Account
One of the main draws to the SwissBorg platform is the Smart Yield accounts. Who doesn’t enjoy receiving a passive income from their cryptocurrency investments?
With SwissBorg’s Smart Yield Accounts, users can deposit a variety of cryptocurrencies and stablecoins and merely hoard them while earning a competitive APY. Behind the scenes, DeFi protocols are used by Smart Yield accounts to help them create returns. I love Smart Yield accounts because they give regular crypto users fast access to DeFi’s advantages without requiring them to understand its intricacies or get bogged down in its numerous intricate procedures.
The yield rates for SwissBorg’s more than 20 assets now range from 0.2% for Bitcoin, 3.8% for ETH, 14% for SushiSwap, and the maximum 25% APY for SwissBorg Token. The SwissBorg Smart Yield Rates page has the most recent rates.
SwissBorg Benefits Plans
Similar to CeFi platforms like Nexo and Celsius, as well as exchanges like Binance and KuCoin, SwissBorg provides a tiered membership system that unlocks particular bonuses and advantages on the site.
The number of SwissBorg Tokens (CHSB) that a user stakes will determine which plan they are under. The yield and costs decrease when more tokens are staked, increasing the yield. The needed CHSB must be bought and held for a full year before you can upgrade your plan. After the initial 12 months, users can withdraw or trade their tokens if they want to lower their plan. During the first 12 months, the tokens cannot be exchanged or withdrawn because they are locked for the term.
The premium tier rewards schemes are out of reach for the common person, and the requirement to retain 2,000 to 20,000 to 50,000 CHSB tokens seemed a bit absurd; there was no indication of a step-by-step progression plan, as I had previously highlighted in my SwissBorg review.
Since SwissBorg recently announced the creation of two additional tiers, “Explorer” and “Pioneer,” I suppose I wasn’t the only one who had issues with the tier system. This was fantastic to see because it reduces the jumps and gives the community a realistic path to higher tier levels to climb through because they can hodl and earn better APYs at each level, which aids in the climb through the lower tier levels.
SwissBorg outlines the rationale behind the additional tiers’ implementation in this blog article, along with all the extra perks that benefit the community. shrewd move
However, before jumping into the premium tiers, I do have another complaint and something to take into account for those looking to join SwissBorg.
Holding 20,000 or 50,000 CHSB coins is no easy task, and before investing so much money, you better be darn sure about the token’s exchange and price potential. The CHSB token reached a record high of almost $1.50. I don’t know about you, but I don’t want to own a platform utility token valued at $75,000 in my possession.
The fact that the tokens cannot earn a yield when they are locked up makes it much worse because they are essentially sitting around doing nothing when it comes to CHSB. For $75,000 there are better things I could do. When compared to locking it away to unlock the premium plans and earning nothing on it, if I wanted to hold $75,000 worth of CHSB, I could put it in the yield account on one of the lower plans and get 12.54% interest, which is rather great. Hmm… 🤔
The higher memberships may be useful if you are a serious whale and invest much more than the required amount of CHSB tokens, as you will then have access to much greater yield rates and reduced costs. The good news is that SwissBorg is still very competitive and a fantastic way to manage your cryptocurrency fortune even at its lowest plans, which are easily achievable and still offer a tonne of value.
SwissBorg Exchange AI Portfolio Analytics
Users of the SwissBorg app may better understand their own portfolios and the tokens they are interested in thanks to the deep learning algorithms that the app uses to continuously examine the supported assets. A user’s entire performance is analysed, and their personal ROI for both realised and unrealized benefits is highlighted. I appreciate how the fees section is transparent and shows how much money you have spent on fees in detail.
The app also offers hourly asset analysis, which is useful for traders since it displays sentiment and technical analysis metrics and indicators via the SwissBorg indicator, the SwissBorg indicator’s Cyborg Predictor, community sentiment, and support and resistance levels.
The Cyborg Predictor combines historical data with technical indications to apply machine learning to forecast the movement of an asset. The SwissBorg indicator, which includes the most well-liked technical indicators, complements this by assisting traders in quickly assessing the strength of a market.
The support and resistance indicator automatically flags important levels to pay attention to, and the community sentiment indicator is based on the amount of transactions in the SwissBorg app during a 24-hour period.
SwissBorg Rewards Program
A referral scheme, the SwissBorg Rewards Program enables users to suggest friends and gain CHSB in the process. A Rewards Ticket worth between €1 and €100 in SwissBorg tokens is awarded to the user and their friend for each successful invite. The procedure is fairly easy:
Open the Rewards Tab in the SwissBorg App and share the special rewards link to share your invitation link.
Step 2 is having your friend download the SwissBorg app and deposit at least €50. (or equivalent in their currency).
STEP 3: After receiving a rewards ticket, the user and their friends can each redeem their CHSB prize. Continue sharing to accumulate more tickets and benefits.
SwissBorg Fees
In the cryptocurrency sector, it appears that practically every platform makes a fee-free or fee-low promise, but they hardly ever offer any transparency to support those claims. In the cryptocurrency business, SwissBorg fees rank among the most transparent. The team offers a thorough explanation of SwissBorg’s fees, which is freely accessible on their website. All fees are clearly indicated at the time of exchange.
Users may compare prices to ensure they are always obtaining the greatest conversion rates and are always confident of their costs thanks to this. SwissBorg does not charge a spread, which is amazing, and there are no artificially inflated exchange rates, which is also fantastic, as was noted in the Smart Engine section.
Anyone who is active in the cryptocurrency market can attest to how annoying it can be when certain platforms use inflated exchange rates and floating spreads that appear to conveniently and suspiciously surge as soon as you make a buy. One of the reasons I started using SwissBorg was because I had purchased X amount of cryptocurrency on other platforms, paid the expected fees, and received much less each time.
For deposits, SwissBorg does not charge any fees; nevertheless, for withdrawals of cryptocurrency, SwissBorg charges the following withdrawal fees in addition to the network fees:
BTC- 0.10%
ETH- 0.10%
CHSB- 0.10%
Exchange fees are assessed on pairs, and the fee is determined by using the higher rate of the two currencies in the pair. SwissBorg automatically modifies the gas amount to guarantee that transactions are carried out without interruption or error. Although the costs on SwissBorg are generally minimal, they can vary substantially based on factors like loyalty level and type of fiat or cryptocurrency asset. A thorough summary is available on the SwissBorg Fees page.
SwissBorg KYC and Account Verification
Regarding KYC and AML, SwissBorg complies with laws and standards. SwissBorg offers a variety of account tiers with various transaction thresholds and degrees of KYC/AML certification. The levels are as follows:
Level 1 Identification Proof: Deposits and withdrawals are both capped at EUR 5,000.
Level 2 Proof of Residency: EUR 50,000 maximum deposit; EUR 1,000,000 maximum withdrawal
Level 3 Proof of Funds: Unlimited Deposits and Unlimited Withdrawals
When a user presents identification documentation, level 1 approval occurs. Levels 2 and 3 approval will be requested when the user reaches the deposit and withdrawal limits.
The actions users must take to fulfil KYC are listed below:
In the SwissBorg app, click the profile icon in the upper-left corner.
Select Account Level.
Click the Verify button.
Send in the needed paperwork to finish your verification.
A passport, a government-issued ID card, a residency card, or a driver’s licence are all acceptable level 1 identity documents. Usually automatic, account verification takes two minutes to complete. According to statistics, more than 60% of accounts have the KYC automatically approved within a few minutes, while manual verification is required in other situations within 24-48 hours.
SwissBorg Security
SwissBorg prioritises the security of the platform and the protection of users’ funds since they are aware of the risks posed by hackers. As a result, they have made significant investments in security procedures such as MPC cryptography, platform stress tests, and the development of cutting-edge security software.
Keyless Multi-Party Computation (MPC) technology is regarded as being extremely safe because it does not need to generate a secret key, making it impossible to compromise. This improves the platform’s security by removing a single point of failure. MPC functions by allowing many parties to work together to conduct mathematical calculations without giving any information to the other parties. In this situation, Fireblocks are useful.
Fireblocks has been picked by SwissBorg as a security partner because they are regarded as the most secure and adaptable platform that leverages multiparty computation technology to secure digital assets. As a result, the SwissBorg Wealth App is dependable, resilient, and immune to bugs and hackers, guaranteeing the security of user cash.
On the SwissBorg exchange, there haven’t been any known successful hacks as of yet.
Cryptocurrencies Available on SwissBorg
SwissBorg currently supports 16 different fiat currencies and 43 different cryptocurrencies (as of June 2022).
They constantly add new assets, and they vote on which further assets should be included to their Wealth App. For a detailed overview, visit the SwissBorg supported assets page.
SwissBorg Exchange Platform Design and Usability
The dashboard is not only incredibly powerful but also very user-friendly. It is highly user-friendly for beginners, well designed, and easy to navigate, which truly takes the guesswork out of the cryptocurrency investment process.
The company also did a fantastic job with the token descriptions; every token displayed on the app has a thorough explanation of the token, the project, and its eco-friendliness so that cryptocurrency investors may learn a lot about a token before investing in it.
The simplicity and beginner-friendliness of SwissBorg is one of its main selling factors. I frequently believed that a well-functioning UI/UX was the key to onboarding the masses, and the SwissBorg app accomplished that perfectly. The software is so intuitive and simple to use.
The SwissBorg team is incredibly inventive, and they frequently add new assets and features. You can find everything that is presently under development on the SwissBorg Roadmap. Looking forward to those developmen
ts that appear to be making way for even more passive income and yield opportunities!
Deposits and Withdrawals at SwissBorg
Due to the platform’s flexibility, users can fund their SwissBorg accounts with 16 different fiat currencies, including the US dollar, the euro, and the pound. Bank transfers can be processed in as little as five minutes, and withdrawals are simple because the SwissBorg financial partners are members of the SEPA and the Faster Payments network. The only methods now enabled are bank transfers (SEPA/ACH) and cryptocurrency deposits and withdrawals, with intentions to add card support soon.
SwissBorg Token (CHSB): Uses and Performance
The ticker symbol for the SwissBorg crypto utility token, which is utilised on the SwissBorg network, is CHSB. With a 1 billion token supply overall, it is an ERC-20 coin. Over 55% of the CHSB tokens in circulation are currently held in Yield accounts, which has a large impact on supply. Currently, little under 30% of the CHSB circulating supply is staked.
Better than others, SwissBorg has done a great job developing diverse demand drivers for the CHSB token, which naturally helps to promote the asset’s price growth. Naturally, there are incentives to keep the CHSB token in order to earn yield, to stake and open higher reward levels, and to access premium features, to mention a few. Additionally, SwissBorg buys back CHSB every week using fees from the Smart Yield programme, and 20% of all exchange fee revenue is used to purchase CHSB tokens that are burnt at the end of each quarter.
Additionally, CHSB holders have the chance to take part in polls where users can voice their ideas on the direction the SwissBorg app should go. SwissBorg eventually hopes to see the app run entirely decentralised, in line with the true spirit of crypto and decentralisation. In the next part, we’ll go into greater detail about the use cases and advantages of owning the CHSB token.
The CHSB token’s price was roughly $0.07 when it first went on sale in 2018, and it increased extremely slowly until around June 2020. Until the bull market of 2021, when the token experienced an exponential, nearly vertical rise to an ATH of $1.52, CHSB saw a respectable increase as platform use increased and there were more use cases for the token. Wow, that is an increase of 2,071%!
Obviously, such price movement is unsustainable, and the CHSB coin fell back to earth along with the rest of the cryptocurrency market. For the entire cryptocurrency market, the second half of 2021 and the first quarter and second quarter of 2022 saw some pretty brutal bear market conditions, but impressively, the CHSB token is holding up better than many, down just under 60% over the past year while many other tokens have lost over 80% of their value. We witnessed exchange tokens perform among the best of any asset in prior bull runs, so they are absolutely worth watching for the upcoming bull run.
The CSHB cryptocurrency is available on Bitfinex, SwissBorg, Uniswap, KuCoin, and so forth.
Benefits of the CHSB SwissBorg Token
Holding the SwissBorg crypto token has a number of demand drivers and advantages in addition to the price appreciation possibility described above. These advantages consist of:
future use of the app’s exclusive wealth management products and services.
Premium membership with no fees and extremely competitive exchange rates. The wealth app refers to this as “Staking.”
voting privileges over the future of the SwissBorg Platform and referendums.
Profit greatly from your investment in the SwissBorg Ecosystem.
Speaking of price growth, the CHSB token also features a feature called Protect & Burn that works to keep the price of CHSB stable by destroying tokens to lower the total amount in circulation. This feature is designed to shield the token from devaluation and flash crashes, and it is anticipated to aid in maintaining stability and steady upward pressure on the price of CHSB. Currently, 20% of the Wealth App’s revenues go toward buying CHSB, which are burnt to lower supply and maintain price.
The SwissBorg token has enormous utility since it underpins the whole SwissBorg ecosystem. Users can stake CHSB to partially offset platform costs, but they can also use it to cast votes and take part in the platform’s governance. Additionally, it is incorporated into the Proof of Meritocracy concept’s reward distributions.
Protect and Choose
When the price of CHSB tokens was moving lower, SwissBorg used to have a Protect and Burn policy that helped sustain it by purchasing and destroying existing tokens. This has developed into the Protect and Choose feature it is now in the effort to be a truly community-centric platform.
In March 2022, SwissBorg decided to purchase back the CHSB tokens and place them into a pool where devoted token holders could vote on how the tokens should be used at the end of each quarter, as opposed to purchasing the tokens and burning them. The SwissBorg team noticed that the Protect and Burn procedures were insufficient to free CHSB from trends where the entire market was crashing or ranging, which was one of the factors that led to the switch.
Following is how the Protect and Choose model will operate:
In order to support the price, SwissBorg will continue to do buybacks with 20% of fees when the market is at its best.
The community will vote on what should be done with the token pool once every three months.
When the time comes for them to participate in the vote if they so desire, token holders are informed via the app and email. The choice is made regarding how many tokens should be burned overall and in what proportion. If the community decides against burning the tokens, they can vote on what should be done with them. Options include increasing CHSB yield, providing a yield for premium tokens, and developing the ecosystem in the
SwissBorg Customer Support
The SwissBorg Support Service appears to have received positive feedback for their prompt responses and excellent support around the web. Although there is a request form on the SwissBorg website, using the in-app chat feature is the more popular method of communication.
I contacted the support service via the in-app chat three or four times for this review and since I am a SwissBorg customer myself. I was pleased to receive a response within minutes to a half-hour at the most, which is amazing. Respect to their support staff! In the crypto world, I am typically content any time I get support within a day. Anyone who has spent enough time playing the crypto game will be familiar with how typical it is to be kept waiting for days or even weeks for assistance response.
SwissBorg also features an extensive help section with lessons and guidelines to help users with many of their questions.
SwissBorg Top Benefits Reviewed
SwissBorg is a superb European cryptocurrency exchange that offers a variety of other services thanks to its simple, user-friendly, all-in-one wealth management features.
The platform is offering a service that is greatly needed in the cryptocurrency industry. It serves as a safe and excellent way to purchase, sell, and swap cryptocurrency, offers insightful analytics, and serves as a financial advisor and portfolio manager for cryptocurrency.
If you are familiar with traditional investing, what SwissBorg does for your cryptocurrency portfolio is comparable to what typically occurs while you are sitting in a private bank office with people in stuffy suits signing documents and, let’s face it, charging more for their services than the average person can afford.
SwissBorg gives you the impression of carrying around in your pocket complimentary access to the knowledge of a Financial Planner and the care of a Portfolio Manager. Quite a potent little app
What can be Improved?
Naturally, even while the platform as a whole is wonderful, there are always room for development. More consistency and dedication to the release of new products and features, or at the very least updates to their articles, would be a tiny but welcome improvement. They introduced a Crypto Challenge app, which has since been removed, and changed the way their DAO model worked. While this isn’t always a bad thing as businesses need to be flexible and develop for improvement, it can be a little challenging for users to keep up with the changes, especially since out-of-date articles continue to refer to features and goods that no longer exist.
The other issue, which has already been brought up, is that platform benefits are mostly out of reach for the bulk of users due to the high standards needed to advance to higher levels. Although I had this as a complaint in my earlier evaluation of SwissBorg, I’m delighted to report that the SwissBorg team has now added two extra tiers, making this less of a problem. Although the requirement to lock CHSB tokens for a year is longer than those for most platforms, it is also quite harsh to not be able to earn a yield on the tokens kept to reach greater CHSB tokens. For instance, Crypto.com uses a similar tier structure and only requires tokens to be locked for six months before earning an annual percentage yield (APY).
SwissBorg Review Conclusion
One of the most prosperous fundraising efforts in the blockchain sector at the time was the $53 million campaign in 2017. Instead of wasting the money, SwissBorg produced an amazing product that addresses several issues with private asset management for cryptocurrencies. Additionally, it makes cryptocurrency investment easy and available to everyone.
The SwissBorg-created Wealth App is a potent yet user-friendly bitcoin investment tool. Within the same interface, users may purchase, sell, deposit, withdraw, earn, trade, and manage all of their crypto assets.
What’s even more impressive is that SwissBorg has fully complied with all legal requirements for the over 115 nations that can use the Wealth App. As a result, people can invest in cryptocurrencies without being concerned about breaking any laws.
The community SwissBorg is creating is also one of the most robust in the cryptocurrency sector. Since the success of any platform depends on the strength of its user base, and SwissBorg isn’t just building a userbase, but a true crypto community, it is encouraging to see that there is a DAO and that there are significant incentives to join the SwissBorg community and contribute to the ecosystem.
When everything is considered, it is clear that the SwissBorg Wealth App is accomplishing the project’s goal of making cryptocurrency wealth management easier to use and more accessible. Given the enormous price gain for the CHSB token seen in 2020–2021 and the surge in platform use, investors appear to be in agreement.
If SwissBorg can stay on the course they’ve charted for themselves, this might be one of the key blockchain initiatives that sets the standard for asset management for years to come.
SwissBorg FAQs
Is SwissBorg Legit?
Yes, SwissBorg has been in operation since 2017 and is used by millions of people worldwide. They adhere to best standards for KYC and AML and are controlled by VQF, a Swiss Self-Regulatory Organization. SwissBorg now possesses two licences for GDPR requirements after receiving two extra licences from Estonia.
Is SwissBorg Safe?
In addition to the rules and permits already indicated, SwissBorg adheres to security best practises. The group has made investments in strong security processes and practises, including stress testing, MPC cryptography use, and the use of cutting-edge security technologies.
Is SwissBorg available in the US?
Unfortunately, no; SwissBorg is accessible in more than 115 nations, but not in the United States.
What is the CHSB Token?
The SwissBorg Ecosystem is supported by the Ethereum ERC-20 multi-utility CHSB token. Members of the community can use the CHSB token to cast votes, stake coins, and engage in rewards programmes.
