SwissBorg is a Switzerland-based crypto investing app that lets you trade and earn interest on more than 2 dozen cryptocurrencies. It offers low fees and a user-friendly interface to make crypto investing as convenient as possible.
This sounds fantastic. But how does SwissBorg compare to other crypto trading apps?
In this SwissBorg review, I’ll run through what this crypto app has to offer. I’ll talk about the app’s pros, cons, features, and fees to help you decide if it’s worth signing up.
Advantages & Disadvantages
- No limits on how much crypto you can trade.
- Competitive trading fees (1%).
- User-friendly interface and mobile app (iOS and Android).
- Registered and regulated in many European countries.
- Opportunity to earn high interest on certain cryptocurrencies.
- New cryptocurrency broker with a limited track record.
- Charges withdrawal fees on all currencies.
- Requires SwissBorg Token (CHSB) staking for access to premium features.
What is SwissBorg?
SwissBorg is a crypto trading and investing app developed by the Switzerland-based fintech company SBorg SA. It was founded in 2017 by former hedge fund managers Cyrus Fazel and Anthony Lesoismier-Geniaux.
The company’s mission is to accelerate “the world’s translation to decentralised nations”. SwissBorg states that it hopes to democratise finance by making it “fun, fair, and community-centric”.
SwissBorg is a highly regulated Swiss fintech company that’s registered to operate in multiple European countries.
However, SwissBorg is not registered as a cryptoassset firm with the Financial Conduct Authority (FCA) in the UK. As the company doesn’t have headquarters in the UK, FCA registration isn’t legally required – but it’s something to consider before signing up.
Safety-wise, SwissBorg has never experienced a successful platform-wide attack. However, this is no guarantee of future account security.
SwissBorg currently has a 4* rating (1,000+ reviews) on Trustpilot. This is a high rating by cryptoasset firm standards and more than 70% of reviewers give the company 5*.
Although some of the reviews aren’t that helpful, the more detailed 5* reviews indicate that people like its fee transparency and that the platform is easy to use.
But nearly 20% of reviewers gave SwissBorg 1*. Most of these critical reviews mention holds placed on user accounts and that the company’s onboarding process can be slow.
Neither of these situations are ideal, though they’re common among regulated cryptoasset firms. Plus, SwissBorg’s customer service team seems to follow up with negative reviews left on their Trustpilot page to clear up any potential account issues – which is more than we can say for lots of alternatives out there.
Getting started with SwissBorg is a multi-step process. To create a SwissBorg account:
- Download the SwissBorg app.
- Enter and verify an email address and phone number.
- Provide your legal name, date of birth, and country of residence.
- Answer questions about your investing experience.
- Upload proof of your identity.
SwissBorg has multiple verification levels, each of which requires different identity-related information. These include:
- Level 1. Proof of Identity (passport, national identity card, driving licence, etc.)
- Level 2. Proof of Residence (bank statement, utility, bill, lease agreement, etc.)
- Level 3. Proof of Funds (employment, investment, inheritance, and/or business ownership documents)
At a minimum, all new SwissBorg users need to provide proof of identity to use the app. You’re required to take both a photo of your identity document and a selfie when creating an account.
Documents are normally verified within a few minutes, but it can take a couple of days to get your account up and running.
SwissBorg is primarily a crypto trading app. You can use SwissBorg to buy and sell more than two dozen cryptocurrencies using a streamlined trading interface.
Since SwissBorg is a broker, not an exchange, the app uses Smart Engine technology to automatically detect the best cryptocurrency prices on major exchanges whenever you want to place a trade. The app then routes your order to that exchange and deposits your crypto in your SwissBorg account.
To buy crypto in the SwissBorg app using British Pounds (GBP):
- Open the SwissBorg app and log in.
- Navigate to the in-app Exchange.
- Select British Pounds (GBP) from the list of available fiat currencies.
- Choose the cryptocurrency you want to buy.
- Press ‘Exchange’.
- Type in the amount of crypto you want to buy.
- Click ‘Next’.
- Review your trade quote and fees.
- Press ‘Confirm Exchange’ if you’re happy with the trade.
- Tap ‘Finish’ to exit the trading terminal.
All SwissBorg trades are processed as market orders, so your funds should be available in your account within seconds.
SwissBorg Smart Yield Account
SwissBorg’s Smart Yield Account is an interest-bearing wallet that lets you earn rewards on certain cryptoassets held in your account.
When you use this feature, SwissBorg lends your funds to a variety of centralised and decentralised finance programmes, including decentralised exchange (DEX) liquidity pools and institutional investors. In exchange, you can earn up to 25% in interest on your assets without much hassle.
SwissBorg currently offers interest on the following cryptoassets:
- Bitcoin (BTC)
- Ethereum (ETH)
- USD Coin (USDC)
- Binance Coin (BNB)
- Tether (USDT)
- Ripple (XRP)
- Polygon (MATIC)
- Euro Tether (EURt)
- SwissBorg Token (CHSB)
You need to deposit at least €10 worth of assets in your Smart Yield Account in order to earn interest. Any interest you earn is paid out daily and you can withdraw your cryptoassets at any time.
SwissBorg pays substantially higher interest rates to Premium and Genesis Premium account holders than to Standard account holders. There are also risks involved with using this feature – including the potential to lose any deposited assets.
SwissBorg Token (CHSB) & SwissBorg Premium
SwissBorg Token (CHSB) is an ERC-20 reward and governance token for the SwissBorg investing ecosystem. It has a maximum supply of 1 billion tokens, all of which were released into circulation during its initial coin offering (ICO).
There’s an overview in this video of the CHSB token, but this image does a better job at summarising the features:
While you can use SwissBorg as a trading platform without ever owning CHSB tokens, these tokens offer a number of rewards and benefits to stakeholders.
Benefits of the token include:
- Interest Rewards: You can earn up to 28% interest on your SwissBorg Token (CHSB) holdings through the CHSB Yield 2.0
- Governance Votes: Holders of CHSB tokens can place governance votes on proposed changes to the platform through referendums.
CHSB tokens also power another important part of the SwissBorg ecosystem: SwissBorg Premium.
SwissBorg offers 3 different account types based on the quantity of CHSB tokens that you stake in your account. Each account type (Standard, Community Premium, and Genesis Premium) offers different fees, features, and interest yields on invested assets.
The following table offers a quick overview of this rewards system:
|Standard||Community Premium||Genesis Premium|
|Minimum Staked CHSB||0||2,000||50,000|
|Smart Yield Programme Yield Boost||None||1.5x||2x|
|Exchange Fees||1%||0.75%||0 - 0.25%|
The primary benefit of Community Premium and Genesis Premium is access to increased interest yields and lower exchange fees. Genesis Premium investors also get a 20 million CHSB insurance policy on account funds lost to security compromises and early access to new features.
Note that you need to stake your CHSB for at least 1 year to qualify for Community Premium or Genesis Premium status. The CHSB that you stake also isn’t eligible for rewards in the CHSB Yield 2.0 programme.
Residents of the UK, EU, Switzerland, and dozens of other countries can use all of SwissBorg’s features – including its crypto investing and fiat conversion platform.
Note that some SwissBorg features aren’t available in certain countries. For example, investors in some countries can trade crypto on SwissBorg but they can’t trade fiat pairs.
You can check out SwissBorg’s list of supported countries to see if the app is available in your region.
SwissBorg currently supports more than 25 cryptocurrencies including:
- Bitcoin (BTC)
- Ethereum (ETH)
- USD Coin (USDC)
- Binance Coin (BNB)
- Ripple (XRP)
- Tether (USDT)
- Polygon (MATIC)
- Pax Gold (PAXG)
- Compound (COMP)
Check out SwissBorg’s full list of supported assets to learn more.
Investors with SwissBorg can fund their accounts using the following payment methods:
- UK bank transfer (via FPS)
- SEPA bank transfer
- SWIFT wire transfer
- Crypto transfer
SwissBorg supports more than 15 fiat currencies including:
- British Pound (GBP)
- Euro (EUR)
- Swiss Franc (CHF)
- Canadian Dollar (CAD)
- Hong Kong Dollar (HKD)
You can exchange any of these supported fiat currencies in your SwissBorg dashboard. Then you can withdraw your exchanged funds to an external bank account as needed.
All things considered, SwissBorg is a transparent, low-fee crypto trading platform.
SwissBorg charges different trading fees based on your account status. These fees are:
- Standard: 1%
- Community Premium: 75%
- Genesis Premium: 0 to 0.25%
Note that Genesis Premium investors get free trades of Bitcoin (BTC), SwissBorg Token (CHSB), Pax Gold (PAXG), all fiat currencies, and most stablecoins.
Deposit & Withdrawal Fees
All deposits to SwissBorg are fee-free.
The company charges a standard 0.10% withdrawal fee on all crypto and fiat withdrawals. However, SwissBorg has minimum and maximum withdrawal fees that vary from one currency to another.
As of the time of writing the minimum and maximum withdrawal fees for British Pound (GBP), Euro (EUR), Bitcoin (BTC), and Ethereum (ETH) are:
|Minimum Withdrawal Fee||Maximum Withdrawal Fee|
|British Pound (GBP)||£1||£85|
|Bitcoin (BTC)||0.0005 BTC||0.0023 BTC|
|Ethereum (ETH)||0.0050 ETH||0.0259 ETH|
Always double-check SwissBorg’s fee schedule for current pricing information before you withdraw from your account.
SwissBorg doesn’t limit how much you can trade on the platform. However, the company places limits on deposits and withdrawals based on your verification level, as seen in the table below:
|Level 1||Level 2||Level 3|
|Withdrawal Limit||€5,000||€1 million||Unlimited|
The only other restrictions to be aware of are a €5 minimum and a €120,000 maximum per-trade limit. But you can place as many trades as you’d like without any limitations on your total trading volume.
Security & Insurance
SwissBorg doesn’t provide a lot of information about its security features.
But the company partners with Curv, a leading digital asset security firm, to provide custodial services for its custodial wallets. Curv was recently acquired by PayPal, so it’s unclear how that might affect SwissBorg’s relationship with its custodian.
Other than that, the only major SwissBorg security feature is its Bitcoin (BTC) address changing system. SwissBorg automatically changes your account’s Bitcoin (BTC) address to make your “transactions harder to track by another third party”. This feature isn’t unique to SwissBorg (Coinbase has it, too), but it’s a good privacy-related addition.
SwissBorg doesn’t maintain a platform-wide insurance policy. However, the company has what it calls a “Safety Net” for Smart Yield Accounts, which protects you from financial loss in the event of a successful hacking attempt. SwissBorg also has a safety net for Genesis Premium accounts, but not for Community Premium or Standard accounts.
If SwissBorg isn’t the right crypto trading platform for your needs, you have other options to choose from.
For a way to easily buy, store, send, and receive just Bitcoin (BTC), Bottlepay is worth checking out.
Bottlepay is a UK-based and FCA-registered cryptoasset firm that provides a simple and affordable way to buy Bitcoin (BTC) with a UK bank transfer. The company’s trading fees are competitive (about 1.3%) and it even lets you send Bitcoin (BTC) payments via the Lightning Network and social media channels.
Want more advanced crypto trading features? One worthwhile option is CoinJar.
CoinJar is another FCA-registered cryptoasset firm that provides quick and low-cost crypto trades (max 1%) using a UK bank transfer. You can purchase more than 40 cryptocurrencies using CoinJar’s simplified instant buy feature or you can save money on transaction fees by using its crypto exchange (max 0.1%).
The Bottom Line
SwissBorg might be a new crypto trading app, but it offers a lot to love for convenience-focused investors.
Here are a few things I liked about SwissBorg:
- Transparency & Competitive Fees: SwissBorg is very transparent about its fee structure and it offers relatively low trading fees (1% or less) for a user-friendly platform.
- Highly Regulated: SwissBorg might not be FCA-registered (because it doesn’t have UK headquarters), but it’s regulated in Switzerland and a number of other European countries.
- No Trading Limits: While SwissBorg has some deposit and withdrawal restrictions based on your account verification level, you can trade as much crypto as you like on the app.
There aren’t too many drawbacks to SwissBorg, but the fact that the company charges fees on all withdrawals isn’t great. You also need to buy and stake SwissBorg Tokens (CHSB) to access premium features and lower fees on the app, which isn’t something I’m a fan of.
Learn more about the platform on the SwissBorg website.
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