SwissBorg Review 2024: Crypto Wealth Management Solution

Last updated: Nov 01, 2023
38 Min Read
AI Generated Summary
Summary
Summary
Swissborg.svg
SwissBorg
Deposit €50 and get up to €100 Free!
Swissborg Inline
Merch Inline
Swissborg.svg
SwissBorg
Deposit €50 and get up to €100 Free!
Swissborg Inline
Merch Inline
Swissborg.svg
SwissBorg
Deposit €50 and get up to €100 Free!
Our Take :

SwissBorg is a crypto wealth management platform that utilizes blockchain technology to provide a secure and transparent place for buying, selling, and managing digital assets. With its unique Smart Yield account, Thematics bundles, and incredibly user-friendly mobile app, SwissBorg empowers users to take control of their financial future and join the growing crypto revolution.

Pros
Easy to use
Attractive Yields
Strong community and community-centric
Innovative products not available anywhere else
Good customer support
Cons
Higher tiers unattainable for average users
BORG tokens need to be locked for 1yr and earn no yield for higher-tier access
Swissborg.svg
SwissBorg
Deposit €50 and get up to €100 Free!
4.6

SwissBorg is a blockchain-based wealth management platform that provides its users with the infrastructure and tools to manage their cryptocurrency investments more efficiently. It is a platform that we have been fans of for a while and are looking forward to providing our readers with this SwissBorg review to show you what a powerful crypto investment platform this is.

The project’s aim in creating this easy-to-use platform is to assist users in navigating the new financial field of cryptocurrencies. The founders of SwissBorg saw a need for such a platform in order to overcome the sometimes complex nature of cryptocurrencies and the scattered infrastructure and tools that haven’t found any standardization yet.

In the following SwissBorg review, we will take a deep dive into the SwissBorg Exchange, the SwissBorg token, and investigate what problems it attempts to solve, how it is going about doing that, and the pros and cons of the platform, among other things.

Disclaimer: I use SwissBorg and hold the BORG Token as part of my personal crypto investment strategy.

If you want to find out Guy’s take on the SwissBorg crypto exchange, you can check out why SwissBorg makes his top 5 picks as a great regulated European crypto exchange.

SwissBorg Exchange Summary:

Headquarters:Lausanne, Switzerland with subsidiaries in Canada, Estonia and the United Kingdom.
Year Established:2017
Regulation + Licenses:

Virtual Currency Service License-Estonia

Registered as a PSAN by the AMF- France

Regulated by VQF- Switzerland

2 licenses for GDPR requirements on data protection

Spot Cryptocurrencies Listed:50+
Native TokenSwissBorg Token. Previously CHSB, now BORG
Fees:

Deposit Fees: None

Withdrawal Fees from your account are subject to an execution fee of 0.1%, with a minimum fee per currency, here are a few examples:

BTC- 0.00006

ETH- 0.0005

BORG- 17

Exchange fees range from 0%-1%

Fiat and crypto withdrawal fees are highly variable, See the SwissBorg Fees page for a detailed breakdown.

Security:High: Cold storage best practices, MPC cryptography, stress tests, Fireblocks partnership.
Beginner-Friendly:Yes
KYC/AML Verification:Required
Fiat Currency SupportEUR, CHF, GBP, CAD, CZK, DKK, HKD, HUF, ILS, NOK, PLN, RON, SGD, ZAR, SEK, AED
Deposit/Withdrawal Methods:

Fiat Deposits/Withdrawals: Bank card, Bank Transfers (SEPA/ SWIFT)

Crypto deposits/Withdrawals

Review: What is SwissBorg?

The SwissBorg project is the brainchild of founders Anthony Lesoismer and Cyrus Fazel. The two initially raised $53 million to back the project and then launched at the height of the 2017 cryptocurrency rally in December. SwissBorg became one of the top European crypto exchanges with impressive growth in 2021, with their native BORG token reaching “Unicorn Status,” hitting the coveted 1 Billion dollar market cap milestone.

SwissBorg is so much more than a crypto exchange. It is a multi-utility powerhouse of a crypto investing platform that provides users with everything they need to invest in digital assets and manage their crypto portfolios with ease, which is why it was also featured in our Top 5 CeFi Platforms for Earning Yield article.

SwissBorg is headquartered in Switzerland, making it a popular European crypto exchange. It has team members spread all across the globe, counting members from over 20 countries as part of its multi-cultural and multi-disciplinary team which is currently made up of thousands of employees from all walks of life.

SwissBorg Homepage
A Look at the SwissBorg Homepage

SwissBorg is a blockchain-based secure wealth management platform for cryptocurrency investments. It is the very first of its kind, and its aim is to simplify the process of investing in cryptocurrencies. It does this in a number of ways, including integrating with the major cryptocurrency exchanges, DeFi protocols, and featuring a community-based ownership model.

In addition to the desktop platform, there is also the award-winning SwissBorg App, which is available for iOS and Android devices, making the process of accessing the platform far easier. The accolades achieved by the SwissBorg team are quite impressive, not just in terms of growth and adoption, but take a look at the 4.5-star ratings for the app, along with receiving the Mass Adoption Project of the Year award, and the Top Swiss Fintech Startups award.

swissborg awards
SwissBorg Puts my Participation and "Thanks for Trying," Trophies to Shame. Image via SwissBorg 

The top achievements of the project include its successful $53 million fund-raising effort, the creation of a large community, hitting a $1B valuation, the launch of two successful apps, the creation of the massively popular Smart Yield wallets, the rollout of the first-of-their-kind Thematics bundles and equity raising Launchpad, the community-led initiatives, and the high adoption of both the platform and the native SwissBorg token (BORG).

Currently, SwissBorg can be used in over 115 countries around the world, and they have plans for the inclusion of many more in the future. One thing to consider is that residents of some countries cannot access the full range of SwissBorg features. You can see if your country is included and what is supported by visiting the Swissborg Supported Countries page.

SwissBorg Supported Assets
A Good List of Diverse Asset Support. Image via SwissBorg 

One notable exclusion from the list is the United States. Investors in the U.S. are unable to open an account with SwissBorg or use their Wealth App due to the stringent financial regulations in the U.S.

SwissBorg Team

SwissBorg calls itself “a team of finance and technology experts dedicated to improving the crypto industry by making it fun, fair and meaningful for all.”

While the SwissBorg website only shows the nine top members of the team, including its two founders Anthony Lesoismer and Cyrus Fazel, it goes on to say that the full team spans 20 different countries. Many of the SwissBorg team members bring years of experience in portfolio management and financial advisory services to the table. Many of them have also graduated from some of the top business schools in Europe.

SwissBorg Team
Part of SwissBorg's global team. Image via SwissBorg.com 

Cyrus Fazel is one of the founders of SwissBorg and acts as its CEO. Cyrus is a multicultural fintech professional with more than a decade of experience in asset management and algorithmic trading. Prior to founding SwissBorg, he was Head of Investment Management platform & Senior Hedge Fund Advisor at SEQUOIA Asset Management SA.

In addition to his role at SwissBorg, Cyrus is also the co-head of Disruption Disciples, a decentralized global collective of innovators and technology enthusiasts united by shared values and the desire to build a better world together with the help of exponential technologies. Via local meetups and international gatherings, continued thought exchange and collaborations, they explore and develop creative solutions to pressing issues.

Anthony Lesoismer is the other co-founder of SwissBorg and its CSO. Prior to founding SwissBorg Anthony was Head of Financial Market Digital-Advisory at JFD Brokers.

Swissborg Review
SwissBorg's Senior Staff Members Image via SwissBorg 

On the technical side of things, the CTO is Nicolas Remond, an experienced software engineer. After obtaining his Masters of Science in Computer Science from Ecole Nationale supérieure des Mines de Paris he went on to several roles in creating and designing software.

Looking at the overall team it’s clear they have extensive experience in finance and investing, and considering their growth and success, not to mention impressive roadmap rollouts and features to come, it would appear that they have the right talent in the right places. You can learn more about the team on SwissBorg’s About us page.

SwissBorg Exchange Key Features

The SwissBorg Exchange app is the center of the platform, allowing users to create and manage their crypto portfolios, buy and sell crypto, earn yield, and more. It is an easy and intuitive way to manage your crypto-wealth.

SwissBorg Thematics- Crypto Portfolio Bundles

One of the newest additions to SwissBorg is the Thematics section. I have been looking forward to this release for quite some time as this is something truly unique in the crypto industry, an investment product that can only be found on SwissBorg.

swissborg thematics
Invest in Theme-Based Bundles with Thematics. 

Crypto investing can sometimes feel like being blindfolded while trying to throw darts at a moving dartboard. Let SwissBorg do the guesswork for you and let their expert-designed bundles provide the type of crypto exposure and diversification that is important for every crypto investor.

The bundles that investors can choose from will follow themes, providing investors with "one-click" diversified exposure to trends in Web3. Investors can simply select a theme that they have long-term belief in, and the SwissBorg app will automatically provide exposure to the top projects in that niche. And that isn't even the best part, the Thematics portfolio will also automatically rebalance allocation and adjust depending on market conditions to ensure continual proper diversification and exposure.

SwissBorg Thematics
Choose From Pre Selected Crypto Bundles Image via SwissBorg 

The first Thematic available is the Web3 bundle, providing investment allocation to projects like Eth, Matic, Polkadot, Mina, Secret, and others. In July 2023, SwissBorg launched their second, the Golden Thematic, which provides investors with the upside potential of Bitcoin, and the protection provided by gold during times of volatility to the downside.  

I am not sure what future bundles will be available yet, but I imagine you could select things like metaverse themes which would give you exposure to projects like Decentraland and the Sandbox, or perhaps bundles that are focused on digital identities, blockchain storage space, or web3 hosting. I guess we will wait and see. 

Personally, I'd like to see a bundle of layer one protocols that would contain a basket of layer one networks like Ethereum, Cardano, Solana, Avalanche etc. that would automatically rebalance and reallocate. That would make my life as a crypto investor so much easier.

SwissBorg Thematics
Image via SwissBorg 

One of the reasons that this product is so revolutionary, is that in traditional finance, active portfolio management is common practice and is done through Portfolio Managers and Financial Planners that can generally only be afforded by the wealthy. This is an incredible feature and just highlights further why I love the crypto industry. Services like these are not available to the average retail investor in the traditional financial industry.

If you're interested to know more about SwissBorg's Thematics products, as well as future plans, head over to our full Thematics review.

SwissBorg Smart Yield Account

The Smart Yield accounts are one of the biggest attractions to the SwissBorg platform. Who doesn’t love earning some passive income on their crypto holdings?

SwissBorg’s Smart Yield Accounts allow users to earn a competitive APY for depositing various cryptocurrencies and stablecoins and simply hodling. Smart Yield accounts leverage DeFi protocols behind the scenes which enable the accounts to generate returns. I am a big fan of the Smart Yield accounts as it provides the average crypto user with convenient and easy access to the benefits of DeFi without them having to learn the complexities of DeFi and get lost in various complicated DeFi protocols.

Smart Yield Process
DeFi Benefits Are Easily Accessed Through SwissBorg's Simple Interface Image via SwissBorg.com 

SwissBorg currently has over 20 assets that are available to earn a yield on, the rates range from 0.05% for the likes of Bitcoin, 2.5-5% for ETH, up to 2% for SushiSwap, to the highest 18.28% APY for SwissBorg Token. You can find the current rates on the SwissBorg Smart Yield Rates page.

SwissBorg Earn

SwissBorg Earn was released as an expansion to the Smart Yields section of the app, and is responsible for the heavy lifting when it comes to staking, lending, and yield farming.

swissborg earn
Put Your Crypto to Work with SwissBorg Earn. 

SwissBorg Earn executes a multi-pronged approach to passive crypto earnings by providing users with access to a variety of products with varying degrees of interest rates and risks, with something suitable for all risk appetites. Users can access DeFi protocols like Aave, Curve, and perform liquid staking on Lido, or can simply stake or lend. 

If you aren't sure which Earn product is right for you, SwissBorg's Cyborg Mood can help you determine a suitable balance between risk and reward for you. The Earn products are broken down into three categories:

Core- The "Core" strategy can be considered more reliable and safe, basically less adventurous and risky. As the name implies, the core strategy should be considered for the core of your funds.

Adventurous- As the name implies, the adventurous strategy is suited for those who are keen to add a little more spice to their life and expose funds to a higher level of risk for higher APYs.

Brave- Adventurous and Brave are referred to as "Satellite Strategies" in SwissBorg, as they fall outside of the realm of the more conservative Smart Yield and Core strategies. Brave is similar to Adventurous but kicks it up a notch, allowing investors to devote 5-10% of their funds to higher-risk strategies.

 Swissborg Inline 

SwissBorg Launchpad

SwissBorg has had a busy past year, not only launching the first-of-its-kind Thematics, but also a first-of-its-kind multi-asset launchpad.

Swissborg Launchpad
Image via Swissborg launchpad 

The SwissBorg Launchpad is democratizing wealth management and providing the average retail investor with opportunities that were traditionally only reserved for the wealthy elite and those with deep pockets or friends in high places. It is too early to tell the impact that this could have on the future of investing, but I would not be surprised if the SwissBorg's Launchpad goes down in the history books as potentially the first real "stake in the ground" moment that created a fair and equal platform for early round investing.

Is Swissborg a good exchange
Image via SwissBorg

Not only is SwissBorg "talking the talk" by offering this launchpad, but they also "walked the walk," with the first launchpad product going live being their very own Series A Equity round, inviting SwissBorg users to invest and share in the future success of SwissBorg.

I think SwissBorg themselves capture the idea of the Launchpad the best with the following statement:

We are proudly breaking up the entry barriers of venture capital firms, investment banks and accredited investors. We are reimagining the investment landscape of the future and placing the power of ownership back in the hands of individuals. This is the next step in our Web3 revolution.

Definitely could not have said that better myself. Isn't that one of the main drivers that brought us all into the world of crypto in the first place?

The Launchpad will give SwissBorg users access to exclusive investment opportunities such as private equity raises to IDOs, ICOs, etc. I don't know if you have ever tried participating in an IDO, but it isn't easy. Having a simple platform to access multiple opportunities is fantastic.

SwissBorg Benefits Plans

Similar to exchanges like Binance and KuCoin, or CeFi platforms like Nexo, SwissBorg has a tiered membership structure which unlocks certain perks and benefits on the platform.

Swissborg fees
A Look at the SwissBorg Tiers

The plan that SwissBorg users fall under will depend on how many SwissBorg Tokens (BORG) they stake. The more tokens staked, the higher the yield, and the lower the fees. In order to upgrade your plan, the required amount of BORG will need to be purchased and held for 12 months. The tokens cannot be exchanged or withdrawn for the first 12 months as they are locked for the duration, after the initial 12 months, users can then withdraw or exchange if they choose to lower their plan.

In my previous SwissBorg review, I had mentioned that my one complaint about the SwissBorg plan structure was that the premium tier rewards plans were unattainable for the average person, and the jump from needing to hold 2,000 to 20,000 to 50,000 BORG tokens was a bit nuts, no sign of a gradual progression plan.

I guess I wasn’t the only one criticising the tier structure as fortunately, SwissBorg later announced the addition of two new tiers, “Explorer,” and “Pioneer.” This was great to see as it breaks up the jumps and provides the community with a realistic path to reach higher tier levels to climb through as they can hodl and earn better APYs at each level, which helps in the climb through the ranks.

SwissBorg Plans
SwissBorg Introduces New Tier Levels. Image via SwissBorg Blog. 

In this blog post, SwissBorg explains the reason for the additional tiers being put in place and all the additional benefits which serve to help the community. Smart move 🤓

Though, I do have another criticism and something to consider for those looking to sign up for SwissBorg, before they yolo into the premium tiers.

Holding 20,000 or 50,000 BORG tokens is no small feat, and you better be darn confident in the exchange and the price potential of the token before dropping that kind of cash. BORG token hit an all-time high of around $1.50. I don’t know about you, but I don’t want to hold $75,000 worth of a platform utility token.

It isn’t just the amount of BORG that is a kicker either, it is that when the tokens are locked up, they are not eligible to earn a yield, meaning the tokens are essentially collecting dust. I can think of better uses for $75,000. I mean, if I wanted to hold 75k worth of BORG, I could put it in the yield account on one of the lower plans and earn a decent rate of interest which is pretty sweet, vs locking it away to unlock the premium plans and earn nothing on it. Hmm… 🤔

I guess where the higher memberships come in handy is if you are a serious whale and investing far more than just the BORG tokens needed to unlock the higher membership plan as you do unlock significantly better yield rates and lower fees. The plus side about all this is even the standard and community plans which are easily attainable still provide plenty of value, and even at its base plans, SwissBorg is still highly competitive and a great place to manage your crypto wealth.

SwissBorg Exchange Smart Engine

The Smart Engine ensures that users of the SwissBorg app are given access to the best liquidity and exchange rates available at any time in the broader crypto markets. One of the fan favourite features of SwissBorg are the zero spreads and no inflated exchange rates or hidden fees. SwissBorg prides itself on providing a low-fee platform, only charging a small transparent fee which is reinvested back into the SwissBorg ecosystem.

The Smart Engine analyzes hundreds of trading pairs in seconds by connecting to and searching major cryptocurrency exchanges such as Binance, Kraken, LMAX, HitBTC and Bitfinex, finding the best route to execute customer orders in milliseconds. This allows the app to discover the best rates for buying or selling in any of the supported fiat or cryptocurrencies and saves you the time of having to scout around for the best exchange rates.

SwissBorg Exchange AI Portfolio Analytics

The SwissBorg app continuously analyzes the assets supported, and through its deep learning algorithms, users are able to gain a better insight into their own portfolios and the tokens they are interested in. This includes analyzing a user’s overall performance, and highlighting personal ROI for unrealized and realized gains. I like the transparency of the fees section which breaks down exactly how much you have spent on fees as well.

Powerful Analysis Capabilities Built Right Into the App. Image via SwissBorg.com
Powerful Analysis Capabilities Built Right Into the App. Image via SwissBorg.com 

The app also provides users with hourly asset analysis which is great for traders as it shows sentiment and technical analysis metrics and indicators via SwissBorg’s Cyborg Predictor, the SwissBorg indicator, community sentiment, and support and resistance.

Swissborg analysis
Make Better Informed Decisions With SwissBorg's AI Cyborg Predictor. Image via SwissBorg 

The Cyborg Predictor uses machine learning that can help forecast an asset’s movement, combining a mix of historical data and technical indicators. This is complemented by the SwissBorg indicator which combines the most popular technical indicators, helping traders understand the strength of a market at a glance.

The Community Sentiment indicator is based on volume of transactions in the SwissBorg app over a 24-hour period, and the support and resistance indicator automatically highlights key levels to watch out for.

SwissBorg Rewards Program

The SwissBorg Rewards Program is a referral program that allows users to invite their friends and earn BORG in the process. Every successful invite earns the user and their friend a Rewards Ticket valued from €1 to €100 in SwissBorg tokens. The process is quite simple:

SwissBorg Rewards
SwissBorg Rewards Program. Image via SwissBorg 
  • STEP 1: Share your invitation link by opening the Rewards Tab in the SwissBorg App and sharing the unique rewards link.
  • STEP 2: Your friend downloads the SwissBorg app and makes a deposit of €50 or more (or equivalent in their currency).
  • STEP 3: Both the user and the friends receive a rewards ticket and can claim their BORG reward. Then keep sharing to earn more tickets and rewards.

SwissBorg Fees

It seems that almost every platform in the crypto industry promises no fees or low fees, but they rarely provide any transparency to back up their claims. SwissBorg fees are among the most transparent in the crypto industry. The team provides a comprehensive breakdown of SwissBorg’s fees which can be found easily on their site, and all fees are well highlighted at the moment of exchange.

This allows users to always be certain of their costs and allows them to compare to be sure they are getting the best exchange rates available at all times. As mentioned in the Smart Engine section, SwissBorg does not charge a spread which is awesome, and there are no inflated exchange rates which is also fantastic.

Anyone in the crypto game can tell you how frustrating it can be when some platforms use inflated exchange rates and floating spreads that seem to conveniently and suspiciously spike at the very second you make a purchase… The number of times I’ve purchased X amount of crypto on other platforms, pay the expected fees and receive significantly less is one of the reasons I started using SwissBorg.

Swissborg fees
Image via SwissBorg 

SwissBorg fees are non-existent for deposits, but crypto withdrawals will see fees in the form of network fees, and SwissBorg charges the following withdrawal fees on top of the network fees for some of the major cryptocurrencies:

SwissBorg Withdraw Fees.jpg
Image via SwissBorg

Here is a look at SwissBorg fees for fiat withdrawals:

Swissborg withdrawal fees
SwissBorg's Fiat Withdrawal Fees. Image via Swissborg

The fee structure provided by Swissborg in 2023 is an improvement over the last time we covered their platform as there are now more fiat currencies supported and crypto withdrawals could only be made in Bitcoin, Ethereum, or SwissBorg Token. 👌 

Exchange fees are charged on pairs where the higher fee of the 2 currencies in a pair is used to calculate the fee. SwissBorg automatically adjusts the gas amount to ensure transactions are executed without delays or failure. The fees on SwissBorg are relatively low, but vary greatly depending on things like loyalty tier, and which fiat or crypto asset is being used. You can find a full detailed breakdown on the SwissBorg Fees page.

SwissBorg KYC and Account Verification

SwissBorg follows rules and regulations with regards to KYC and AML. SwissBorg has several account levels with different transaction limits, these levels require different levels of KYC/AML approval. The following levels are:

  • Level 1- Proof of Identity: Deposit limited to EUR 5,000, withdrawals limited to EUR 5,000
  • Level 2- Proof of Residence: Deposits limited to EUR 50,000, withdrawals limited to EUR 1,000,000
  • Level 3- Proof of Funds: Deposits unlimited, withdrawals unlimited

Level 1 approval takes place when a user submits proof of identity, while levels 2 and 3 will be prompted when the user hits the deposit and withdrawal limits.

Here are the steps users will need to follow to complete KYC:

  1. Tap the profile icon in the top-left corner of the SwissBorg app
  2. Tap Account Level
  3. Tap the Verify button
  4. Submit the required documents to complete your verification.

For level 1, identity documents can be a passport, government-issued ID card, residence card, or driver’s license. Account verification is normally automatic and can be done in about two minutes. Stats show that over 60% of accounts have the KYC automatically approved within a few minutes, with other cases taking between 24-48 hours for manual verification.

As these limits and levels can change periodically, be sure to check the SwissBorg KYC page for the most up-to-date information.

SwissBorg Security

Because SwissBorg understands the dangers presented by hackers, they place the security of the platform and the safety of users’ funds as a top priority. Because of this, they have invested heavily in security practices, including MPC cryptography, platform stress tests, and the creation of advanced security software.

Multi-Party Computation (MPC) keyless technology is considered highly secure as it does not require a private key to be created, therefore, it cannot be compromised. This eliminates a single point of failure, enhancing the security of the platform. MPC works by multiple parties jointly performing mathematical computations, without one party revealing its information to another party. This is where Fireblocks comes in.

SwissBorg has chosen Fireblocks as a partner in security as they are widely respected and known for being the most secure and flexible platform that uses multiparty computation technology to secure digital assets. As a result, the SwissBorg Wealth App is stable and strong, and remains safe from both hackers and bugs, ensuring user funds are secure.

There have been no known successful hacks on the SwissBorg exchange to date.

Cryptocurrencies Available on SwissBorg

SwissBorg has support for 54 different cryptocurrencies and 16 different fiat currencies.

SwissBorg Withdraw Fees.jpg
A Good Mix of Supported Assets. Image via SwissBorg

They are adding new assets all the time and have ongoing votes on which other assets should be included in their Wealth App. Take a look at the SwissBorg supported assets page for a full breakdown.

SwissBorg Exchange Platform Design and Usability

Users will find the dashboard to be quite intuitive, but also extremely powerful. It is incredibly beginner-friendly, well laid out, and simple to navigate, really taking the guesswork out of the process of cryptocurrency investing.

The team also did a great job in the token descriptions, each token listed on the app has a well-built-out explanation of the token itself, the project, and its eco-friendliness so crypto investors can find out a lot about a token before investing in it.

swissborg app
A Look at the SwissBorg App Image via Google Play 

One of the top attraction points to SwissBorg is just the ease of use and beginner-friendliness. The app is so intuitive and easy to use, I’ve often felt that the key to onboarding the masses lies in a well-functioning UI/UX and the SwissBorg app does that brilliantly.

New assets and features are added regularly, the SwissBorg team is quite innovative; you can find everything that is currently in development on the SwissBorg Roadmap.

Deposits and Withdrawals at SwissBorg

The platform is quite flexible, allowing users to fund their SwissBorg accounts using 16 different fiat currencies, including USD, EUR, and GBP. Withdrawals are easy and since the SwissBorg banking partners belong to the SEPA and the Faster Payments network, bank transfers can be completed in as little as 5 minutes. Bank transfers (SEPA/ACH), bank card, and crypto deposits/withdrawals are currently supported.

SwissBorg Token BORG (Previously CHSB): Uses and Performance

The SwissBorg crypto utility token that is used on the SwissBorg platform has the ticker BORG. BORG token is based on the OpenZeppelin ERC-20 standard on Ethereum, with a total supply of 1 billion tokens. Just under 30% of BORG circulating supply is currently staked, with over 55% of tokens currently held in Yield accounts, which has a pretty significant impact on supply.

In Q4 of 2023, SwissBorg announced it would be migrating its previous CHSB token to BORG at a rate of 1:1. The tokenomics and supply remained unchanged. Users who held CHSB in the SwissBorg app did not need to do anything as the migration was automatic, and CHSB held outside the app can be migrated at migration.swissborg.com.

The migration was done with the intention of enhancing multi-chain compatibility and improving the BORG token's utility in DeFi ecosystems.

Our primary objective is to provide substantial utility to CHSB holders by enabling the on-chain generation of true organic yield with the BORG token in the DeFi ecosystem. This move aims to provide an authentic yield resulting from active participation in the decentralised finance ecosystem. The anticipated timeline for unveiling this yield is around late Q4 2023 to Q1 2024. (Source)

SwissBorg Tokenomics.jpg
A Look at BORG's Circulating Supply. Image via SwissBorg

SwissBorg has done a fantastic job, better than most, at creating multi-faceted demand drivers for the BORG token, which of course, aids in encouraging price appreciation of the asset. There are, of course, incentives to hold the BORG token to earn yield and to stake and unlock higher reward tiers and premium benefits to name a couple. SwissBorg also buys back BORG every week using fees generated by the Smart Yield program and 20% of all revenue earned from exchange fees buys BORG tokens which are then burned at the end of each quarter.

There is also the opportunity for BORG holders to participate in referendums, where users can give their opinions on where the future of the SwissBorg app should go. Eventually, SwissBorg would like to see the app be run by a fully decentralized governance model, speaking to the true spirit of crypto and decentralization. 

The original CHSB token launched with a price of around $0.07 in 2018 and did very little for a while, seeing very little increase until about June 2020. As adoption of the platform grew, and there were more use cases for the token, CHSB saw a decent increase until the bull market of 2021 when the token saw an astronomical, near-vertical rise to an ATH of $1.40. That is a growth of 2,070%, wowza!

swissborg token chsb.jpg
SwissBorg's Token at a Glance. Image via CoinGecko

Of course, that type of price action is not sustainable, and the now BORG token came back down to earth with the rest of the crypto market. The back half of 2021 and 2022 wasn't good for the token, as we experienced pretty brutal bear market conditions for the broader crypto market, but impressively, the BORG token is holding up better than most as we venture into 2023, down just 54% on the 1yr while many other tokens have fallen over 80% in value. Exchange tokens are definitely worth watching for the next bull run as we saw them perform among the best of any asset in previous bull runs.

Benefits of the BORG SwissBorg Token

As mentioned above, multiple demand drivers and benefits are gained by holding the SwissBorg crypto token. These benefits include:

  • Access to future exclusive wealth management products and services in the app.
  • Premium membership with very competitive exchange rates and zero fees. This is referred to as “Staking” on the wealth app.
  • Voting rights on the referendums and future of the SwissBorg Platform.
  • Earn amazing rewards for investing in the SwissBorg Ecosystem.
BORG token.jpg
BORG is a powerful utility token. Image via SwissBorg.com

The SwissBorg team also conduct periodic BORG token buybacks, removing them from circulating supply. This feature is meant to protect the token from flash crashes and devaluation and is expected to help provide upward pressure and stability for the price of the token.

 SwissBorg Buy Back.jpg

Because the SwissBorg token powers the entire SwissBorg ecosystem, it has great utility. Not only can users stake BORG to offset some of the platform fees, but the token also grants voting rights to participate in the governance of the platform. It is also used in the reward distributions set out by the Proof of Meritocracy concept.

Since the migration to BORG, we can also expect to see further demand drivers play out in the broader DeFi ecosystem and not just on the SwissBorg platform. 

Protect and Choose

SwissBorg used to have a Protect and Burn policy that helped support the price of BORG tokens by buying back and burning circulating tokens any time the price of BORG was trending lower. In the interest of being a true community-centric platform, this has evolved into the Protect and Choose feature that it is now.

Protect and choose.jpg
Image via SwissBorg

Instead of SwissBorg buying back and burning the BORG tokens, in March of 2022, the team switched to buying back the tokens and then putting them into a pool where loyal token holders can vote on how the tokens should be used at the end of each quarter. One of the reasons for the switch was that the SwissBorg team made the observation that the Protect and Burn mechanisms was not enough to break the token from trends where the entire market is crashing or ranging.

The Protect and Choose model will work as follows:

  1. SwissBorg will continue to perform the buyback with 20% of fees during optimal market conditions to help support the price.
  2. Every quarter, there will be a community vote on what should be done with the pool of tokens.

Token holders are notified via the app and email when the time comes to participate in the vote should they choose. The decision is made on whether or not the tokens should be burnt at all, and what percentage should be burnt. If the community chooses not to burn, they can vote on what should be done with the tokens, choosing between things like boosting yield, offering a yield for premium tokens, expanding the ecosystem in the DeFi space, boosting the SwissBorg app rewards program and more.

SwissBorg Customer Support

The SwissBorg Support team appear to have generally good reviews across the web for quick response times and helpful support. Questions and issues can be addressed via a request form on the SwissBorg website, though the more common way is to use the in-app chat function.

swissborg support
Submit a Request via the SwissBorg Website 

For this review and since being a SwissBorg user myself, I have reached out to the support team three or four times via the in-app chat and was impressed to have a response within minutes to a half an hour at the most, which is fantastic. Kudos to their support team! In the crypto space, I am generally happy any time I receive support within 24 hours. Anyone who has been kicking around the crypto game long enough knows how common it can be to be stuck waiting days, if not weeks, for support response.

SwissBorg also has a thorough help centre, complete with guides and tutorials to help answer many of the questions that users may have.

SwissBorg Top Benefits Reviewed

SwissBorg is a fantastic European crypto exchange that does so much more with its intuitive, easy-to-use, all-in-one wealth management features.

The platform is providing a service that is much needed in the crypto space, acting as a secure way to buy, sell, and swap crypto, providing valuable analytics, while also acting like a financial planner and portfolio manager for crypto, offering a fantastic investment platform for digital assets.

If you are familiar with traditional investing, what SwissBorg does for your crypto portfolio is the equivalent to what normally happens sitting in a private bank office with people in stuffy suits, signing papers, and let’s be honest, charging more for their services than the average person is able to afford.

SwissBorg feels like having the expertise of a Financial Planner and the attentiveness of a Portfolio Manager for free, right in your pocket. A powerful little app indeed. If you want to see for yourself why SwissBorg makes our list as one of the most user-friendly exchanges and why it made it on our list of Top Exchanges in 2024, using our SwissBorg sign-up link can earn you up $100 in free crypto. Nice 😎

You can see how SwissBorg stacks up against the competition in our following comparison articles:

 Merch Inline 

What can be Improved?

While most of the platform is fantastic, of course, there are always areas for improvement. One small thing that would be nice to see is more consistency and commitment to product and feature rollouts or at least updates to their articles. They launched a Crypto Challenge app which has been discontinued, and have restructured their DAO model. These aren't necessarily bad things, as businesses need to be adaptable and evolve for improvement, but from a user perspective, it can be a little difficult to keep up with the changes, especially as outdated articles still mention features and products that no longer exist.

The other thing has already been mentioned, and that is the steep requirements to reach higher tiers, making platform benefits largely unattainable for the vast majority of users. 

While this was a criticism in my previous SwissBorg review, I am happy to note that the SwissBorg team has implemented two new tiers, making this less of an issue. Though Needing to lock BORG tokens for a year is longer than the requirements on most platforms and not being able to earn a yield on the tokens held to reach higher membership tiers is also pretty harsh. Crypto.com, for example, has a similar tier structure, with tokens only needing to be locked for 6 months and those locked tokens earn APY, providing far more incentive to reach higher tiers.

SwissBorg Review Conclusion

The $53 million fundraiser in 2017 was one of the most successful in the blockchain industry at the time. SwissBorg didn’t squander the funds either but has delivered an impressive product that solves many of the problems associated with wealth management for cryptocurrency. It also makes investing in cryptocurrency simple and accessible for everyone.

The Wealth App that’s been developed by SwissBorg is a powerful yet simple solution to cryptocurrency investing. Users are able to buy and sell, deposit and withdraw, earn, trade, and manage all their crypto assets within the same interface.

Even more impressive is that SwissBorg has become fully compliant with all the regulatory frameworks for the more than 115 countries that can take advantage of the Wealth App. This means users can take part in cryptocurrency investing without worrying about the legality of their actions.

The community that SwissBorg is building is also among the strongest in the crypto industry. I like seeing all the incentives that encourage members to not only be users, but actively engage and be part of the SwissBorg community and contribute to the ecosystem. Thanks to things like the Launchpad and Protect and Choose, the SwissBorg community is one of the most vibrant in the industry, which is important as the strength of any platform relies on the strength of its user base.

Taken all together, it seems apparent that the SwissBorg Wealth App is realizing the mission of the project to make cryptocurrency wealth management simple and more accessible. Users and investors seem to agree given the huge price increase seen in the BORG token, and the fact that SwissBorg has been continuing to grow, thrive, build, and roll out some of the most innovative crypto products even as we are in the depths of this 2022/2023 crypto bear market.

If SwissBorg can continue on the path it has set for itself, this could be one of the foundational blockchain projects that will continue to set the pace for wealth management and Web3 innovation for decades to come.

Frequently Asked Questions

Is SwissBorg Legit?

Yes, SwissBorg has been operating since 2017 and is enjoyed by hundreds of thousands of users globally. They follow KYC and AML best practices and are regulated by VQF, a Swiss Self-Regulatory Organization. SwissBorg was granted two additional licenses by Estonia and holds two licenses for GDPR requirements.

Is SwissBorg Safe?

In addition to the regulation and licenses mentioned above, SwissBorg follows industry best practices in terms of security. The team has invested in robust security protocols and procedures such as stress testing, utilizing MPC cryptography, and the implementation of advanced security software.

Is SwissBorg available in the US?

Unfortunately not, SwissBorg is available in over 115 countries with the United States not being one.

What is the BORG Token?

The BORG token is a multi-utility token that is the backbone of the SwissBorg Ecosystem. The BORG token can be used by community members to participate in rewards programs and staking, it offers multi-chain utility in the broader DeFi space, and provides voting rights for the SwissBorg Platform.

Is SwissBorg a Crypto Exchange?

SwissBorg is a crypto investment platform where users can also exchange cryptocurrencies. Though users can exchange cryptocurrencies, SwissBorg is different to other exchanges as it offers a host of crypto investment products and features for crypto portfolio management that are not available anywhere else.

Why did CHSB Migrate to BORG?

In August 2023, the company announced that it would migrate CHSB to BORG, which will based on the OpenZeppelin ERC-20 standard on Ethereum. BORG will be multichain compatible right from the start. The primary objective is to provide substantial utility to CHSB holders by enabling the on-chain generation of true organic yield with the BORG token in the DeFi ecosystem. This move aims to provide an authentic yield resulting from active participation in the decentralised finance ecosystem

Tayler McCracken

Providing financial education to those who need it most has always been a passion of mine. While working as a Financial Advisor, I had my eyes opened to the world of crypto and its potential to help make the world a better place. I believe that blockchain technology can build a brighter future and am excited to be part of it. If you appreciate the work that I do and enjoy my content, you can find the links to all my socials at pip.me/TaylerTBM

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Previous article
Litecoin 101: The Ultimate Guide to Understanding LTC
next article
Elrond to MultiversX: Exploring the Leap in Crypto Technology