BORG is the native and renamed cryptocurrency of the SwissBorg crypto exchange since 19th of October, 2023. The token was originally launched in 2017 under the name SwissBorg Token (CHSB), along with the exchange, and it has posted a decent growth over the years. It uses the Ethereum blockchain. With this token, you will be able to use the crypto exchange and can also contribute to the ecosystem and benefit from its growth. But the biggest advantage of using BORG is that you get better exchange fees on Swissborg's own app when you lock it. It's a way for Swissborg to artificially increase the value of their token and still - this type of behaviour is very common in the cryptocurrency industry.
A Bit About Borg Token
The native altcoin of Swissborg was developed jointly by Cyrus Fazel and Anthony Lesoismier-Geniaux. According to the founders of the token, the project is supposed to fix the obsolete banking system. It gives individuals control over their portfolios and investments. The SwissBorg network aims at becoming completely decentralized, meaning holders of the token will be able to vote on governance issues. They are slowly working in the direction of becoming a token that's not connected with Swissborg - since there might be issues with regulation if they are seen as the same business.
By holding and staking BORG, you can enjoy Swissborg benefits such as way lower exchange fees, high yield and full voting rights.CryptoLists.com
The maximum supply of this token is 1 billion coins, and these were all minted during the initial coin offering (ICO). That means the total circulating supply of the token is 1 billion. However, less than 200 million tokens are currently in circulation since many have been locked for premium benefits or yield-earning.
Utility of Borg Token?
Holders of BORG tokens can participate in referendums and can offer their opinions on how the network should work. The end goal of the network is to become completely decentralized, and that would require more people to hold the tokens.
You can also enrol in the BORG Yield 2.0 program and earn interest of up to 17.2% on your holdings. In this program, smaller holders of the token will be able to grow their income rapidly, but larger holders will get better interest rates. This design is meant to promote commitment to the community and grow the ecosystem. You should note that the interest rates change every week, and this can make it harder to calculate your expected yearly earnings.
Users of the network can also stake their tokens and enjoy premium benefits. Since you would have to lock your tokens for a pre-defined period, staking will lower the available supply and increase scarcity. This helps to control the value of the token. Some premium benefits you can get from staking BORG tokens include lower transaction fees and yield boosts.
Borg Token Price details
ERC20 Contract address: 0xba9d4199fab4f26efe3551d490e3821486f135ba
›› Details & Tokenomics
Advantages of Borg Token
+ The coin is compatible with many crypto wallets.+ You can earn rather generous staking rewards by holding the BORG token.
+ It is backed by a strong team with headquarters in Switzerland.
+ BORG token gives holders voting rights on the network.
+ Holding Swissborg's token gives higher yield.
Disadvantages
- BORG Token faces stiff competition from other exchange tokens.- The gas fees are very high, unless using the Swissborg app.
- You won’t find BORG on many crypto exchanges.
- Volatility can make it harder to use the BORG token.
- Government regulation can affect the Swissborg Token significantly.
Costs
▪ Rated at 9/10As an ERC-20 token, SwissBorg has to be transferred over the Ethereum network. The transfer fees vary depending on the traffic, but they average at around $0.5-2 USD when using the Swissborg app.
It is worth noting that Ethereum has some of the highest fees in the crypto world, so you can schedule your transactions for periods when there is little network traffic. However, when using Swissborg´s plattform it doesn't matter what time a day you make the transaction. All that matters is which membership level you reached. For the highest membership level, there are zero fees when doing BORG exchanges at Swissborg.
Reputation and Buzz
▪ Reputation rated at 10/10▪ Buzz rated at 9/10
BORG token has developed a fair reputation among long term crypto traders and enthusiasts, even if many that bought the token rather late been disappointed by the long decline. Lots of people like the crypto exchange because it has a transparent fee system, and its charges are generally very low. Investors also appreciate the generous interests offered in the Yield 2.0 program. The Twitter page of the company has more than 111,000 followers. You can sign up on the social media site to participate in discussions about the project.
FAQ
How many SwissBorg tokens are there in circulation?
The maximum number of BORG tokens that can exist is 1 billion, and these were all mined during the ICO. However, at the moment, about 200 million tokens are in circulation. The rest have been locked for staking or yield-earning.
What are the benefits of the SwissBorg Premium membership?
Premium membership will allow you to pay very low fees when exchanging tokens on the site. This program also doubles the yield earned on Smart Yield accounts. In order to get Premium membership, you have to stake BORG tokens.
Where can I purchase BORG tokens?
You can buy this altcoin on Huobi, Bitfinex, KuCoin, Uniswap, and Swissborg.
Which crypto wallets can I use to store my BORG tokens?
You can store these tokens in popular crypto wallets like Ledger Nano S, Atomic Wallet, Ledger Nano X, and Trezor. When picking a wallet for these tokens, make sure you consider their security features, level of privacy, customer support, and convenience.
What is Yield 2.0?
Yield 2.0 is a program that allows holders of BORG tokens to earn interests of up to 17.2%. The interests in this program are paid out from the treasury of SwissBorg, so no external transfers will be made.
Screenshots from Borg Token
Related crypto site? Learn more about Swissborg
BORG is a utility token for the platform Swissborg, so it's worth reading more about the company behind below.The Swissborg team came up with a website to make it fun and easier for people like you to purchase and invest in crypto. The system works seamlessly, so you can make purchases and withdraw any time you want at amazing rates. From our tests, it's also the fastest crypto platform to make transfer to or from - which is important if using multiple platforms. For many transactions to other platforms, it takes less than 30 seconds, while a wide range of other crypto platforms might take 5-20 minutes in the worst case...
›› Read our full Swissborg review here or more directly at their website here.
Swissborg offers flexible staking yields, from a crypto platform with European license.
›› Sign up at Swissborg here
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