8 Essential Things to Know About the SwissBorg Exchange

Cryptocurrency Jun 25, 2021 0 1192 Add to Reading List

The SwissBorg crypto exchange is one of the best platforms you will come across in the crypto market. This exchange is based in Switzerland and was founded in 2017. The SwissBorg exchange was established to help people in investing in crypto assets at minimum risk and more quickly and easily.

Stepping into the crypto space for the first time can be intimidating and stressful as there are numerous aspects to consider and avoid. However, using an exchange that is reliable and has been designed for novice parties can make crypto investing or trading easier.

SwissBorg is one of the top crypto exchanges and is technologically advanced. It offers numerous features to the users, which you can read about in detail in this brief SwissBorg review.

What is the SwissBorg Crypto Exchange?

SwissBorg is a crypto investment and wealth management platform that has expanded to a great extent since it was launched. It has been established to offer a safer, easier and faster way for crypto enthusiasts to trade and invest in digital currencies.

As compared to its competitors, SwissBorg exchange prioritizes the safety and satisfaction of its users and offers several features.

Security Features on the SwissBorg Exchange

The safety of funds is one of the first things potential crypto investors and traders look for. A crypto exchange chosen by the investors and traders should be trustworthy since the platform will have their funds.

As mentioned earlier, SwissBorg focuses on the safety of its users’ funds to make sure they remain safe from any kind of scam or hack. It is one of the safest exchanges in the market at the moment, with a team of crypto experts. The SwissBorg crypto exchange has also been the recipient of numerous awards, thanks to its performance and excellence.

SwissBorg offers technologically advanced security systems mentioned as follows.

2-Factor Authentication feature
Account recovery
Leading-edge security software
MPC cryptography
Platform stress testing
Use of Cold wallet storage

Good Fee Structure

This brief SwissBorg review will also give you an insight into the fee structure offered by the crypto exchange. SwissBorg is one of the exchanges in the market that offers a transparent fee structure. Unlike some of its competitors in the crypto market, the SwissBorg crypto exchange does not charge any hidden or additional charges.

If you use SwissBorg then one type of fee you would have to pay is the Gas fee, which is applicable when you transfer your tokens from a crypto wallet.

If you make a direct deposit from your bank, you will be charged bank charges that vary from bank to bank.

You will also be charged 0.5% to 2.00% for converting funds from:

Fiat to fiat
Crypto to crypto
Fiat to stable coins
Fiat to crypto

SwissBorg exchange also charges withdrawal fees that vary according to the withdrawals and also depend on the wallet of the users. The average withdrawal fee charged by the exchange is 0.10% for withdrawing:

BTC
ETH
CHSB
Supported Fiat currencies

Exchange Wealth App

The SwissBorg crypto exchange has a Wealth app that makes crypto investing and trading easier for the users. The Wealth app has several features that offer a more intuitive user experience. The user interface of the application is also simple and easy to understand, even for novice parties.

Here are some features of the SwissBorg wealth app:

SwissBorg smart engine – it analyses hundreds of trading pairs across different exchanges to find the best rates.
Analytical tools and advisors – there is asset analysis and deep learning algorithms that can help you improve your portfolio and understand the cost and any weaknesses too.
Wealth app crypto bundle – it gives access to several digital assets in a single bundle to improve performance and reduce risk.

Currencies Supported by the Exchange

In this brief SwissBorg review you will also get to know about the currencies and digital assets that are supported by the crypto exchange. SwissBorg allows the users to create their own crypto-fiat pairs with the help of the Wealth app, depending on the fiat and cryptocurrencies the exchange supports.

The Wealth app supports 14 fiat pairs that include:

The digital currencies supported by the SwissBorg exchange include:

Bitcoin
Ethereum
Aave (LEND)
Binance Coin
CHSB
Compound
DAI
Enjin
KNC
Kyber Network (KNC)
LEND
PAX Gold
Ren
USD Coin

KYC Registration Process

You can start using the SwissBorg exchange and avail the benefits by completing a simple registration process. Every user is required to complete the KYC (know your customer) sign-up process. The potential users have to answer some security questions and also provide identity documents.

The registration process is comprised of a few basic steps that are mentioned below:

Download the app
Complete the account verification
Enter your email address and other contact information
Upload the identity documents
Verify your nationality

Every user is also required to answer a few security questions that are set to ensure the platform remains safe from scammers and hackers. The security questions include:

Do you have investment experience?
What is the origin of your funds?
What is the source of your current income?

Funding Methods on the SwissBorg Exchange

The process to fund a crypto wallet or your Wealth app is simple and easy if you use the SwissBorg crypto exchange. Every user is required to follow a few steps that are mentioned below:

You can fund your crypto wallet by following the process mentioned here:

Login to Wealth app
Click ‘deposit’ button on the main screen
Select the available digital assets to fund your account with
Copy/scan the SwissBorg wallet address where you will transfer the crypto
Add the copied address to the withdrawal field
Confirm the transaction
Wait for approval

The process to fund your account by using a direct bank transfer is easy but slightly different from the steps mentioned above. This is how you can fund your Wealth app by using direct bank transfers.

Login to the Wealth App
Click ‘deposit’ button on the main screen
Select the available fiat currency from the list
Copy the bank details of your Wealth app
Make the deposit
Wait for approval

Process of Exchanging on SwissBorg

The SwissBorg crypto exchange has been designed to ensure that every interested party, whether they are crypto investors or traders, can trade or invest in crypto easily and conveniently.

Similarly, executing an order on the SwissBorg Wealth app is also straightforward and requires the users to follow the steps mentioned here.

Go to the home screen on the Wealth app
Go to the portfolio tab and click on ‘Exchange’
Select the icon of crypto or fiat you want to exchange from
Select the asset you want to exchange to
Select the amount to exchange
Click ‘Next’ and place your order

If you follow the basic steps mentioned above you can successfully place an order, even if it is your first time using a crypto exchange app.

Final Verdict!

Buying, selling or trading cryptocurrencies can be somewhat complex and intimidating, especially for someone who has no prior experience. There are several factors to assess and look out for that can determine the kind of experience you have in trading or investing in crypto.

However, choosing a secure exchange such as SwissBorg crypto exchange can make a difference and can even help you buy, sell or trade digital currencies in a faster and easier way. Therefore, you should have the information mentioned above, whether you are a potential investor or trader.