This article is written in partnership with SwissBorg(read more)
- SwissBorg, an all-in-one application for your cryptocurrencies
- Download SwissBorg and create an account
- Deposit funds to your portfolio
- Buy and sell cryptocurrencies on SwissBorg
- Smart Yield and its passive returns
- The SwissBorg rewards program
- Our opinion on the SwissBorg platform
SwissBorg, an all-in-one app for your cryptocurrencies
A Swiss-based startup in the city of Lausanne, SwissBorg was founded in 2017 by Anthony Lesoismier and Cyrus Fazel. After raising 50 million Swiss francs via an ICO shortly after its creation, the team begins the development of an app dedicated to cryptocurrency trading.
This accessible and easy-to-use app incorporates a plethora of interesting features for cryptocurrency investors, which we will explore in this SwissBorg presentation.
A comprehensive tool for any cryptocurrency investor, SwissBorg’s primary role is to provide a gateway for buying crypto-currencies, namely Bitcoin (BTC), Ether (ETH), BNB and many others.
The cryptocurrencies supported by SwissBorg are connected to the Smart Engine, an aggregation system that scans multiple third-party platforms to get the best price for each transaction, whether buying or selling.
Often described as the “Skyscanner of digital assets,” this tool goes through numerous trading pairs to find the most optimal route and complete the transaction for the user.
Available on iOS and Android, the SwissBorg app supports 15 fiat currencies including Euro, Swiss Franc and Canadian Dollar for fund deposits.
Another major feature that we introduce in more detail next is Smart Yield. This is an option that connects users’ funds to a full range of decentralized finance (DeFi) protocols, selected by SwissBorg to reward users in a passive and transparent way.
SwissBorg has its own token, the CHSB. This token is the engine of the application and offers a multitude of advantages. In particular, users can lock CHSB tokens to obtain exclusive premium benefits that we will discuss in the rest of this presentation.
Let’s now take an in-depth look at how SwissBorg and these many tools work. How to buy crypto currencies with SwissBorg? How to generate passive income from the app? What are the roles of the CHSB token? Let’s find out all about it together.
Download SwissBorg and create an account
Note that by going through the button above, you will receive a ticket worth €3-300 in CHSB, SwissBorg’s cryptocurrency. This ticket will be offered as soon as the KYC process is completed and you have deposited the equivalent of €150 on the platform.
First step of your registration, fill in your phone number and then confirm that it is your device by filling in the code received by SMS.
Then, simply click on the “Download Now” button to download the application to your phone. Launch the application and enter your phone number and email again for validation.
The next step is to verify your identity: the KYC. SwissBorg asks you to fill in some information about your identity, before redirecting you to a short questionnaire required for AML-FT measures.
As SwissBorg is a regulated company, the last step is to provide an identity document. You will need to take a photo of your ID (ID card, passport, or driver’s license).
Completing this process is relatively simple and the application guides you step by step. Note that this procedure is done via Onfido, a specialized tool that verifies your information in a few minutes.
Once you have completed this step, the entire SwissBorg application will be available to you! Now let’s find out how to deposit funds.
Depositing funds to your wallet
Before you can buy cryptocurrencies on SwissBorg, you need to deposit funds to it via a bank transfer. SwissBorg does not charge fees for deposits, although your bank may charge you a fee when you deposit fiat assets into your account.
To do this, start by clicking on the “Deposit” button in the “Portfolio” tab:
Select the currency associated with your personal bank account, in this case Euro. You can select another currency by clicking on “Add Currency”:
Before going any further, please note that you must deposit funds to SwissBorg from a bank account in your name. If you deposit from other accounts, SwissBorg will return your funds to you, but you will have to pay the withdrawal fee.
There are two ways to deposit funds to SwissBorg: either via SEPA transfer to a personal account number generated by the application, or via SWIFT transfer to SwissBorg’s partner bank. For ease of use, this tutorial focuses on the use of the SEPA transfer.
Select the “Local” tab and wait until your personal IBAN has been created. Then, in the same way as a classic money transfer from your account If your bank requires additional information for the transfer, please click on “Show More”: the transfer will be made to the bank account of your choice. If your bank requires additional information to proceed with the transfer, click on “Show More”:
If the “Local” tab is not available and only the “SWIFT” tab appears, the method is similar, except that you must absolutely fill in the payment reference, otherwise the sent funds cannot be credited to your SwissBorg wallet. Therefore, you must indicate your reference number in the “Comment” tab of your bank transfer, sometimes called “Reason” or “Wording”.
Once the transfer has been made, the arrival of your funds on SwissBorg can take from a few hours to several days depending on the internal banking processes. As soon as your euros are available on SwissBorg, you can buy cryptocurrencies. Now let’s take a look at how to go about it.
Buying and selling cryptocurrencies on SwissBorg
As mentioned in the introduction of this tutorial, SwissBorg incorporates a system that simplifies and optimizes crypto asset trading by aggregating the order books of several platforms: Binance, Kraken, HitBTC and LMAX. Dubbed the Smart Engine, this tool notably allows access to more liquidity than a single platform and ensures that the transaction is executed at the best price.
In this example, Euros will be used to buy Bitcoin via SwissBorg, but the process is the same for any other exchange. Go to the “Portfolio” tab and click on the “Exchange” button. Then select the currency that will be exchanged (in this case Euro) and the desired cryptocurrency (in this case BTC):
Fill in the desired amount before getting a summary of your purchase, with the amount of BTC purchased as well as SwissBorg’s fees :
Here, buying €100 of BTC, I would receive 0.00368315 BTC, equivalent to €98.86. Indeed, SwissBorg applies by default a 1% fee on exchanges. Fees that can be reduced if you are the holder of one of the premiums, which will be discussed in the next part.
Before you click the confirmation button, make sure that all the information is correct, because once you have clicked, there is no way to cancel the trade.
After the exchange, your wallet will be updated immediately and you will be able to access the other features of SwissBorg if you have just purchased CHSB or other cryptocurrencies.
Smart Yield, Premiums and CHSB
Passive income via Smart Yield
On SwissBorg, besides holding crypto-currencies, it is possible to generate earnings passively through Smart Yield Wallet. This tool uses your funds to invest them in an automated way in decentralized finance protocols (DeFi). </p> To date,
several crypto currencies are eligible for this process and initial yields vary (from low to high) from 4% for XRP to 20% for USDC. These rates are likely to increase or decrease depending on the state of the market.
It works as follows: SwissBorg aggregates its users’ funds and redirects them to DeFi protocols to generate a passive return. The earnings are then redistributed to users on a daily basis and a security mechanism ensures that the funds put into play are not affected in the event of a problem.
This feature is relatively simple to activate and covers Bitcoin (BTC), Ether (ETH), BNB, Ripple XRP as well as USDC and USDT stablecoins. To activate it, select one of the Smart Yield compatible cryptocurrencies and then allocate the desired amount to it.
course, you must have the funds in your portfolio:
Once your funds are allocated, they will start generating a daily return, without any further action required from you. Then, it is possible to withdraw your funds at any time.
Note that it is possible to generate earnings passively with your CHSB tokens, but this does not work via Smart Yield.
See this page
to learn more about Smart Yield
Premiums and the CHSB token
Premium users can increase their Smart Yield returns and reduce their platform fees. Each Premium gives similar benefits, but at different rates.
You can lock in 2,000 CHSB tokens for 12 months to get the Community Premium. This one offers a 1.5x return multiplier on Smart Yield and reduced exchange fees at 0.75% for all cryptocurrencies.
There is also Genesis Premium, but this one requires locking in 50,000 CHSB tokens for 12 months. The latter doubles the return on the Smart Yield and reduces the exchange fee to 0.25% for all tokens except CHSB, BTC, and stablecoins, which will now have 0% exchange fee.
As you might have guessed, one of the roles of CHSB, the native token of the SwissBorg ecosystem, is to become a Premium member.
Here is a summary table of the benefits offered by each status:
In addition to the benefits offered via being a Premium member, CHSB token holders can also participate in the future of SwissBorg through a decentralized governance mechanism.
In addition, CHSB is also eligible for passive returns, although the calculation of the return differs from that of Smart Yield. The CHSB’s rate of return is calculated on the basis of the Community Index, which establishes
a score based on the key figures of the SwissBorg ecosystem.
The SwissBorg reward system
SwissBorg has an integrated rewards program for its community. By inviting friends to SwissBorg via a personalized link, you can earn a ticket worth between €3 and €300 in CHSB. Each time someone is invited in this way, you will both be rewarded.
The only prerequisite is that your friend must pass the KYC process and then make a deposit to their SwissBorg wallet, equivalent to at least €150, whether in fiat currency or cryptocurrency.
Your personalized link can be found in the “Rewards” tab :
Note that people who have already downloaded the app are not eligible for the rewards program.
Our opinion on the SwissBorg platform
SwissBorg sets itself up as an ideal app for beginners. With an intuitive and relatively clear interface, any user can easily find their way around and is not lost in a constant stream of information. With the Smart Engine, buying cryptocurrencies on SwissBorg is smooth and accessible to anyone, where other platforms require some technical knowledge.
The team behind the development of SwissBorg wants anyone to have the ability to invest in cryptocurrencies, and the goal has been met. In addition, Smart Yield allows one to generate a passive return on their assets with a much higher interest rate than traditional investments. Where SwissBorg pulls out all the stops is that the use of this mechanism is automated.
The CHSB token, which is at the heart of the application’s operation, also offers important advantages to its holders. In addition to the possibility of becoming a Premium member, the particular tokenomics of the CHSB make time work in its favour. With the Protect & Burn mechanism, SwissBorg buys tokens when the CHSB price falls, in order to burn them later. In the long term, this reduces the number of CHSBs in circulation and contributes to the token becoming increasingly rare.
SwissBorg is a Swiss start-up with the potential to become a leading European platform. Due to its simplicity and accessibility, the app is highly appreciated in the crypto-community and acts as a gateway into the world of crypto-currencies.
Get a crypto news recap every Sunday And that’s it.
What you need to know about affiliate links. This page features assets, products or services related to investing. Some of the links in this article are affiliate links. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to provide you with original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in crypto-currencies are risky. Cryptoast is not responsible for the quality of the products or services featured on this page and could not be held responsible, directly or indirectly, by any damage or loss caused as a result of using any goods or services highlighted in this article. Crypto-asset related investments are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
This is a sponsored and paid article. Cryptoast has done prior research on the products or services featured on this page but could not be held responsible, directly or indirectly, by any damage or loss caused as a result of using any goods or services highlighted in this article. Crypto-asset related investments are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
About the author: Clement Wardzala
Editor-in-Chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I’ve been striving to share qualitative content so that the sector can be democratized to everyone.
All articles by Clement Wardzala.