Swissborg Review 7.65/10⭐

If you are interested in trying Swissborg out, have a read here and learn all you need to know to get started with the best possible offer.

Swissborg offers flexible staking yields, from a crypto platform with European license.

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Background & Overview

 

Swissborg started with nine employees, but now operates globally with thousands of employees. The platform lets you invest in cryptocurrency assets and manage them as you try to achieve financial breakthrough. They have many online resources that you can leverage to ensure that your investment goes in the right direction. Compared to other platforms that provide similar services, Swissborg has among the best exchange rates and lowest amount of fees for their major clients that invest over 10 000 EUR.

To make it possible to manage crypto investments on the go, they have a very useful app that you can download to your smartphone. Buying and selling crypto has never been easier. The same applies to staking. It's never been easier to earn attractive yields.

The company works with trusted organizations to ensure that their customers have an easy time leveraging the features available. Suppose you're looking to invest in cryptos, then this website got everything you need to become a happy investor. Visit Swissborg now!

›› Not a customer yet? Register with Swissborg today, it's quick and simple!
 

Advantages at Swissborg

+Unique crypto platform, developed to simplify crypto investments.
+Swissborg offers the crypto markets' fastest transfer speeds from one wallet to another one.
+Among the lowest trading fees, when you own 50 000 CHSB tokens.
+Straightforward features for both novice and seasoned traders.
+EU licensed platform means safe and secure to use.
+Available to users in all parts of the world.
+Friendly terms of use ensure amazing user experience.
 

Disadvantages

-45 days cool off period for any funds deposited into your Swissborg account. So you cannot take it out or transfer it to other wallets, within 45 days.
-The website is only available in English and French so far, even if it's been around for 4 years.
-Swissborg's support team could have more knowledge and be faster to respond. Personally, I had to wait for almost 6 months to get one 2000 USDT transfer issue solves - and that is way longer than what you would hope..
-Have lowered the yield for stablecoins significantly. Used to be exceptionally high.
-0.1% service fee for all withdrawals in fiat currency.
-Been waiting for crypto venture capital investment opportunities for premium investors in about 10 months, without any serious updates. They tend to promise a lot, and don't always deliver.  

KYC & Registration

We had seen that Swissborg adheres to the KYC policy. This is a policy that states that each broker must use the right efforts when collecting information about customers and maintaining the same. Once the records about clients have been acquired, they must be maintained as such without any form of alteration. Also, the same owner of the account must be the only one to access the platform, and if someone must do it on their behalf, they must officially grant them access and Swissborg must know about it.

The KYC policy is put in place to ensure the safety of the customers when registering with Swissborg. To open an account, you should provide your email address and phone number for proper validation. You'll then key in your official name as they appear in your government-issued ID or passport as well as your date of birth. You'll then upload your identification documents to finalize the registration process. It's a fairly quick process and they are taking the registration and KYC process seriously.

 

Company Account

SwissBorg offers corporate accounts as well as personal accounts. Corporate accounts have a minimum threshold of 100,000 EUR and give you the ability access wealth management features. Sign up is more extensive than for individual traders, which is to be expected from a reputable exchange.

 

Leverage

There is no leverage at Swissborg, but who needs that on volatile cryptocurrencies?

 

Costs

▪ Rated at 8/10

When trading on any platform, you want to save as much money as possible. While service fee is, most of the time, inevitable, you shouldn't spend an arm and a leg just to transact on a platform. This is a fact that Swissborg seems to perfectly understand. When withdrawing or exchanging funds on the website, you'll realize that some of the money is used to cover the service fees.

It's imperative, however, to understand that Swissborg won't charge you any fees to deposit money. The withdrawal and exchange fees are there, but they only charge you a maximum of 0.1% of the entire amount for withdrawals. That's fair, compared to what you might have to pay on other sites. The spread between the withdrawal and exchange fees is low, so you don't have to worry about crazy fees while using the platform.

The fees varies depending on if you opt for a standard or some type of premium account. In order to get the optimal fees, you have to invest about 10 000 EUR/USD in the Swissborg token (CHSB) and stake it for one year. You can expect many flexible staking yields, even if we seen that APR for many stablecoins have fallen in the last few months. Hopefully, they increase soon again.

 

Deposit Methods

▪ Rated at 6/10
Below you can see a list of the deposit methods available on Swissborg. Some of them may not be available in United States as it depends on regional regulation, but normally the most common payment methods are available across numerous countries.

Fiat deposits can only be made with help of bank transfer. Few other crypto platforms got so few options when it comes to fiat deposits. However, when it comes to deposit cryptocurrencies into your newly created Swissborg account, there are quite a few options. At the moment, only the Ethereum blockchain and BSC are supported - which makes transfer costs rather high. Hopefully, Swissborg will extend their offering to support more blockchains over time, such as the TRON (TRX) network.

The main problem with deposits at Swissborg is their 45 days cool off period. Anyone doing deposits with debit card, credit card or bank transfer are not allowed to take out their own money during the first 45 days. Not many crypto platforms has such restrictions, and it's a bit worrying for customers - and also very annoying to have such measures. Read more about the deposit methods at Swissborg here.

 

Platforms

▪ Rated at 9/10

Did you know that you can use the platform at any time of the day? That's right. Provided you have decided to use Swissborg, you won't be worried about any form of downtimes. They also have a highly intuitive website that's optimized for all types of websites. That means you can use it on your mobile devices on the go and still get to leverage all the features. Regardless of what you would like to do on the platform, you'll find all the features at your fingertips; you'll be unstoppable.

Many users also report that Swissborg is crafted to solve the problems faced on other similar platforms, such as weird terms of use and exorbitant fees. With Swissborg, you can purchase and sell digital currencies without spending an arm and a leg. Since they make use of blockcain technology, the information shared on the platform cannot be changed. Knowing that no one can alter the details, you'll be a happy investor on their platform. No one can stop you from withdrawing funds at will. Generally, it's a user-friendly platform that's worth your time and money, but the best exchange rates (0.25%) is only given to major clients that stake 20 000 CHSB tokens or more.

 

Automated Trading and Copy Trading

Swissborg has no autotrade or copy trade functionality at present.

 

Languages supported

The following languages are supported on Swissborg:

English and French and German

 

Broker Support

▪ Rated at 3/10

A platform is only as good as its support team. The good thing is that you can always reach out to Swissborg support team at any time you need something.

On the main website, you can use their live chat feature to talk to their dedicated agent. This feature comes in handy when you can't visit their local offices to have your matter tackled.

Unfortunately, we have noticed that you often get transferred to another team or division of the support team, which add to the waiting time. For quick and simply issues, you can expect to have your problem solved within 24 hours. For more advanced issues, it's not impossible to wait for over 10 days and that feels a bit longer than we would expect.

They also have a FAQs section where you can find answers to your problem without having to contact support. If you like, you can head to their contact page where you can retrieve their phone number and make direct calls to their offices. From our experience, it's slower than we would hope to get your issues solved by Swissborg's support and it's definitely an area where they can improve.

One of us at Crypto Lists had one support issue that was open over 6 months before it was solved. That was a transaction that was sent to an old address on Swissborg, which was finally recovered after a fee of 50 eur was paid, lots of email and lots of waiting time. When similar issues happened on other platforms and exchanges, the issue was solved within 24 hours. So more than 180 days extra waiting time was quite a surprise.

 

Other Names for Swissborg

Swissborg is or has also been known under the following names: Swissborg Solutions, Sborg SA

 

FAQ

Where can I register for Swissborg?

The best way is to open an account here and if you have any further questions you can get in touch with their support directly.

Is Swissborgs site reliable?

From the details above, it's accurate to mention that Swissborg is a reliable website that any aspiring investor can count on. They are just not very good at handling their wallet addresses, which are changing more frequently than others. If you of mistake transfer crypto into one of Swissborgs old token addresses, it may take months like it did for one of the founders of Crypto Lists - or you will never receive it. They keep changing their mind and thoughts about it, and don't answer questions about the USDT transfer that arrived in their "old" wallet, but they cannot be bothered to take it out within 3 months. Still waiting..

What is the main reason that people use Swissborg?

The main reason that people use this site is that it has some of the best rates. They also got the fastest transfers between crypto wallets that we experienced. Finally, Swissborg's app is very straight forward and user friendly.

Which languages are supported by Swissborg?

The website from Swissborg is only available in English, French and German. That is quite surprising, considering that Swissborg's founder got Persian heritage. But maybe his American upbringing and challenging rules in the Islamic world made it hard to implement support for Persian language. It's a shame that Swissborg is not available in Spanish, Russian and Italian - some of the most requested languages among our visitors.

 

History of Swissborg

2016 (12th of November) - Swissborg's website goes live with the slogan: "Everything you need to manage your absolute return portfolio". There are no mentions of cryptocurrencies, but favourite strategies can vary between market neutral, global macro, long & short or long only. Markets available include US, Japan and Europe.

2017 (September) - A new version of Swissborg's website is live. "The new era of Swiss private banking with smart contracts", is the new slogan.

2017 (21st of November) - The ICO for Swissborg went live on the 21st of November, 2017. Token sale of Swissborg ended the 10th of January, 2018. 50 million USD was raised.

2020 (November) - Swissborg support 18 different fiat currencies, including CHF, EUR, GBP and USD.

2021 (March) - Swissborg launch a premium feature, where you pay 0% fees on BTC, their own CHSB token and stablecoins. Requirement: You need to hold 50 000 CHSB for 12 months.

13/9 2022 - As a safety measure, Swissborg is suspending all transfers of Ether, ERC-20, Avalanche-C and BSC tokens. Customers will be notified in around 48 hours when the service is back to normal.

6/10, 2022 - The first Swissborg Thematics dedicated to a web3 portfolio is now live for the highest membership tier.

26/10, 2022 - App users at Swissborg can now set price tags for all cryptocurrencies.

27/10, 2022 - Swissborg's app now accept funding with credit cards or debit cards such as VISA or Mastercard. Before the 27th of October this year, it was only possible to fund your account with either cryptocurrencies or bank transfers. Initially, Swissborg will support deposits in Euro (EUR), Swiss Franc (CHF), British Pounds (GBP), Polish Zloty (PLN) and Swedish Krona (SEK). The minimum deposit amount is 10 EUR or equal in other currencies. In less than one minute, your card deposit can be converted into crypto.

 

Instruments available

Find the full list of instruments available to trade at Swissborg here. Swissborg allow their users to select the next cryptocurrency to be launched on their site.

▪ Rated at 8/10

Crypto Currencies

AAVE, AVAX, AUDIO, BAT, BTC, CHSB, CHZ, COMP, CRV, DAI, DOT, ENJ, ETH, EURT, GHST, GRT, HBAR, IMX, KNC, LINK, LRC, MANA, MATIC, MIMO, OCC, PAR, PAXG, REN, SAND, SOL/USDT, SOL/USDC, SOL/USD, SOL/EUR, SOL/GBP, SOL/CHF, SOL/BTC, SOL/ETH, UNI, UOS, USDC, USDT, UST, UNI, UTK, XRP, AAVE/EUR, AAVE/USD, AAVE/ETH, APE/USD, APE/EUR, APE/GBP, APE/PLN, APE/HUF, APE/CHF, APE/BNB, APE/BTC, APE/CHSB, APE/ETH, APE/SOL, AUDIO/ETH, AUDIO/EUR, AUDIO/USD, BAT/EUR, BAT/CHSB, BAT/USD, BNB/EUR, BNB/USD, BNB/USDT, BTC/BNB, BTC/ETH, BTC/EUR, BTC/USDT, CHSB/EUR, CHSB/USD, CHSB/USDC, CHSB/USDT, CHZ/EUR, CHZ/USD, COMP/EUR, COMP/USD, CRV/EUR, CRV/USD, DAI/EUR, DAI/USD, DOT/EUR, DOT/USD, ENJ/EUR, ENJ/USD, ETH/EUR, ETH/USD, ETH/USDC, ETH/USDT, EURT/EUR, EURT/USD, EURT/USDT, GHST/EUR, GHST/USD, GRT/USD, GRT/EUR, IMX/BNB, IMX/ETH, IMX, IMX/EUR, IMX/USD, IMX/USDT, KNC/EUR, KNC/USD, LINK/EUR, LINK/USD, MANA/EUR, MANA/USD, MATIC/EUR, MATIC/USD, MIMO/EUR, MIMO/USD, NEAR/EUR, NEAR/USD, NEAR/ETH, NEAR/USDT, OCC/EUR, OCC/USD, PAXG/EUR, PAXG/USD, PAXG/USDC, PAXG/USDT, REN/EUR, REN/USD, SAND/EUR, SAND/USD, SWEAT/BNB, SWEAT/ETH, SWEAT/EUR, SWEAT/JPY, SWEAT/GBP, SWEAT/USD, SWEAT/USDT, UNI/EUR, UNI/USD, UOS/EUR, UOS/USD, UOS/USDC, UOS/USDT, USDC/EUR, USDC/USD, USDT/EUR, USDT/USD, UTK/EUR, UTK/USD, XRP/EUR, XRP/USD

Currencies

AED, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, NOK, PLN, RON, SEK, SGD, ZAR

›› Sign up at Swissborg here

Screenshots from Swissborg

Related coin? Learn more about BORG

The Borg Token is the coin that is used on Swissborg, so it's worth reading more about it on our review page.

›› Read our full Borg Token review here

By holding and staking BORG, you can enjoy Swissborg benefits such as way lower exchange fees, high yield and full voting rights.

Related blockchain? Learn more about Ethereum Network

Ethereum Network is the blockchain that Swissborg relates to, so it's worth reading more about it below.

Ethereum offers a blockchain that’s available to everyone. All you need is a wallet to participate. Ethereum offers open access to data-friendly services and digital money, no matter your location or background. More so, it’s a community-based tech behind thousands of applications that you can use today and the ETH cryptocurrency...

›› Read our full Ethereum Network review here

Ethereum Blockchain - The Internet of Assets.

Read the Swissborg Terms and Conditions here.
Swissborg Review Published: Wednesday, 25 Nov 2020 6:00 pm
Last Updated: Friday, 18 Oct 2024 4:39 pm