Welcome to my SwissBorg review.
The first thing I want to talk about is the SwissBorg ICO.
If you’re looking for a successful ICO that’s managed to raise an impressive $53 million within almost the first hour of its launch, then SwissBorg is it.
The reason for this success? It seems that the project’s team has been masterful at tapping into crypto enthusiasts’ concerns about security and investments in them by marketing themselves as a secure wealth management platform with community-based ownership.
This has clearly caught investor interest, judging by how fast they’ve managed to raise their target fund ($55 million) (now with only 10% of tokens left).
So, what is SwissBorg, why is it gaining so much popularity, and is it the right cryptocurrency lending platform for you?
This is what we are going to discuss in my SwissBorg review, so, let’s dig in and get started.
What Is SwissBorg?
SwissBorg is an innovative new cryptocurrency investment platform that has been designed to be user-friendly and safe for investing in a wide range of assets, from traditional crypto dinosaurs to newer coins.
The company has created its own native currency called SwissBorg Credit (SWBC), which their holders can use to invest in various cryptocurrencies without having the complexity of transferring them back and forth between exchanges.
This is just one of the successful endeavors that SwissBorg has achieved so far, but it is not where they are headed.
They have set their sights on becoming the first blockchain-based secure wealth management platform, aimed at simplifying the process of crypto investments for everyone, integrating with major digital asset exchanges and featuring community-based ownership.
SwissBorg Company Overview
SwissBorg launched in 2017 when they were able to raise $10 million in a single day and went on to reach an amazing $52 million to meet their target for launch.
Originally, Anthony Lesoismer and Cyrus Fazel were the 2 guys that started SwissBorg out in Switzerland.
They have since expanded their team from starting the company to having members in over 200 countries.
Here is a quick list of their current management team:
- Anthony Lesoismer – CEO and Founder
- Cyrus Fazel – Founder & Partner at SwissBorg.
- Oliver Bussmann – CEO
- Natalie Baxter – CFO at SwissBorg Wealth Mgt Ltd.
- Tom Zillig – CFO, SwissBorg Bank AG, Switzerland. Chief Information Officer (CIO) at SwissBorg Bank AG, Switzerland.
- Maxime Bernasconi-Mottart – General Counsel & Secretary General of SwissBorg Group AG. Senior Vice President and Legal Affairs with the Deutsche Bahn Group and Senior Legal Counsel in Switzerland at Deutsche Bahn AG and DB AG.
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The SwissBorg Network Token ($CHSB)
The native currency of the SwissBorg network is the SwissBorg Network Token (CHSB). Each CHSB token represents a unit of value on the platform.
Holders can use SWBC to invest in other cryptocurrencies without needing to exchange them back and forth between exchanges.
What’s more, SWBC holders will get exclusive access to extra services through their membership in an internal community-based cryptocurrency exchange called Exchange Alliance.
This alliance will be on a mission to access preferential fees on various exchanges. There is no doubt that this will invariably save investors lots of money in the long run by cutting down costs significantly.
How Is The SwissBorg token used?
The SwissBorg network token (CHSB) will be implemented as follows:
- To reward the community for contributing to the growth of the network.
- To ensure that only members can be part of internal and external exchanges.
- To allow holders to benefit from the revenue generated on the exchange by acquiring new coins.
- To incentivize holders to turn their tokens into credit, thereby earning interest on their holdings.
Holders of CHSB tokens will also enjoy several benefits from being part of a community with its own internal Exchange Alliance, which we will explore below.
SwissBorg calls this Community Credit (CC).
Current Interest Rates For SwissBorg
Here is a list of the current “average” interest rates that SwissBorg offers for their various cryptocurrencies:
- Bitcoin: 5.61% per month
- BNB: 9.99% per month
- Ethereum: 7.09% per month
- CHSB: 9.21% per month
- USDC: 14.98.75% per month
These are the current interest rates for May 2021.
These interest rates are subject to change depending on the market.
What Is SwissBorg DAO?
The DAO (Decentralized Autonomous Organization) is an organization that enables the community to exercise control over the platform and, in turn, maximize its return on investment.
The DAO will own and operate the SwissBorg platform directly.
In this way, it will be able to operate autonomously and manage all of its operations without external oversight or funding.
This is a great way to minimize regulatory risks since SwissBorg will not be required to follow any external regulations or licensing requirements.
How Does The SwissBorg Platform Work?
The entire SwissBorg platform is based on a single token, the CHSB. Token holders will enjoy exclusive privileges in a number of ways.
The platform is built in the Ethereum blockchain.
This means that the CHSB token can be stored safely in any Ethereum wallet, as well as on cryptocurrency exchanges with CHSB/ETH trading pairs.
SwissBorg Network (CHSB) tokens are required for membership and participation within SwissBorg Network: Members of the community are not only shareholders but also active participants by providing valuable data on investment opportunities and developing new investment techniques, providing ratings and risk-management procedures that help to guide other community members, etc.
SwissBorg supports over 10 cryptocurrencies that include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Dash (DASH)
There are more supported cryptocurrencies that are not on the list above that can be found on their website.
To learn more about the coins they support and to open an account with SwissBorg, click here.
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What Is The SwissBorg Wealth App?
The SwissBorg Wealth App is a free mobile app available for both iOS and Android devices.
The app was developed to allow users to invest in cryptocurrency by making trades, viewing trading history, product information, and more.
SwissBorg has become an interesting candidate recently for some of the most interesting blockchain-related movements in the industry (especially thanks to its own coin).
Their proactive approach has enabled them to launch several successful referendums with regard to how particular developments should be handled. These include:
- Referendum #1: Creating a second layer on the network to unlock unsold CHSB tokens.
- Referendum #2: Changing the SwissBorg trading fee in order to improve the volume of trades and reward token holders.
- Referendum #3: A change in exchange policy to enable users to easily withdraw tokens they acquired through referrals. The referendum passed, and there is now a new withdrawal option for members that allows them to withdraw tokens acquired through referrals.
Key Features of The SwissBorg Platform
The core features of this platform include decentralized storage, high-performance transactions, real-time trading analysis, among several others which are neatly detailed here in this review.
Is SwissBorg Safe?
The quick answer is yes, SwissBorg is safe.
For users looking to learn more about how safe an ICO is, SwissBorg provides a very detailed overview of their security features.
Here are key aspects of the SwissBorg security model:
- SwissBorg will never access customer information stored in the cloud, except to comply with applicable laws and regulations.
- The platform automatically stops selling securities on the second the company notices that some of its customers have been hacked in the past.
- The company has built an auditing system that monitors all activity on the platform 24/7 to ensure transparency and security.
How To Create An Account With SwissBorg
The first thing you are going to have to do is download the SwissBorg app from the Google Play Store or Apple Apps.
Once you have it, then open it and follow the prompts.
It will ask you to create your account using your email and phone number to verify you are creating a legitimate account, this will also serve as a recovery method and a future verification process.
Then you will get asked your place of residence that will be proceeded with questions about your investment experience, cryptos, and source of income.
The last step to register your account is a Proof of Identity process, or another name for this process is called KYC.
Once this is done, you are all set to get started with SwissBorg.
Pros About SwissBorg?
Here is a list of some of the things that I feel are good or great about the SwissBorg cryptocurrency lending platform.
- Well-known backing and proven track record.
- The Largest community of users in the blockchain industry.
- The CHSB token can be stored on any Ethereum wallet.
Below are some of the best pros about SwissBorg:
- SwissBorg offers users access to trading opportunities equivalent to 3x more than traditional exchanges, with lower fees (and no fee at all for SWBC holders).
- SwissBorg will become the first blockchain-based secure wealth management platform, making it possible for everyone to invest in cryptocurrencies without needing to transfer them between exchanges between times!
- SwissBorg has been marketed as “a new way to invest in cryptocurrencies”.
Cons About SwissBorg?
Here are some of the things that I feel can be improved on or a con in my opinion, with the SwissBorg crypto lending platform.
- There is no legal entity behind the token.
- The company is not registered with any government agency.
- Not available in the US
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Conclusion: How Does SwissBorg Work? Is It Safe? Full Review
SwissBorg is a great example of what the blockchain industry can be, and how we can look forward to a better future.
The company has years of experience in the field, and they have developed a proven track record by operating successfully on several continents.
The SwissBorg platform is not only an interesting idea for investors, but also an unusual one that offers unique solutions to various problems that many users face in the cryptocurrency world.
The company’s initiative with regard to changing their exchange fees from time to time shows just how committed they are to continuing delivering value for their community of users while also ensuring their own viability in the long run as well.
With that said, I hope you enjoyed my SwissBorg review.
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