In this article, we will take you step by step through the SwissBorg platform (CHSB). Indeed, this “made in Switzerland” exchange, as its name suggests, is the product of a superb ICO carried out in 2017. SwissBorg provides multiple benefits for all those who are interested in investing in cryptocurrencies. Indeed, SwissBorg has developed unique solutions to allow both beginners and more experienced to have the best tools and indicators to invest in the crypto market. SwissBorg is also the issuer of the CHSB utility token, which has many advantages for its holders on the platform. So let’s take a look at all these elements that make this project a very serious exchange that is gaining momentum.
The story of SwissBorg
First, let’s quickly review the history of SwissBorg. Indeed, this made in Switzerland project is a real success on the international crypto scene. Today the teams are made up of more than 75 engineers, finance experts and entrepreneurs. SwissBorg has also opened offices in London but also in Toronto to complete its headquarters located in Lausanne in the Swiss mountains.. As you may know if you follow our articles on Thecointribune, the Swiss community is an environment conducive to the development of projects around cryptocurrency and blockchain technology. It is an understatement to say that what has been accomplished by SwissBorg and the teams around Cyrus Fazel and Anthony Losoismier command respect, see what they have already accomplished:
- One of the Top ICOs : a value of $ 53 million raised in 2017, a success made possible thanks to the regrouping of a community of more than 24,000 investors in 149 countries around the world.
- Building a strong community around the token CHSB which turned out to be one of the type tokens ERC-20 the most efficient on the market with more than 60,000 token holders.
- The development not of one application but of two mobile apps: the first the Wealth App allows you to invest and manage your cryptocurrency investment in an ergonomic, transparent way and by benefiting from professional traders’ tools made accessible to the most beginners in the market. The second application, the SwissBorg community App is based around a game of predicting the evolution of the price of Bitcoin that allows you to earn points every day and ultimately earn rewards if you prove to be a pro at prediction Bitcoin (BTC) !
And we won’t dwell on more than 100 events in which the teams of SwissBorg, the awards won during the Blockchain World Forum and their series Youtube worthy of a Netflix series worth watching: Cryptonites TV.
In short, the project SwissBorg is a pleasure to see and its success seems obvious as its values are those that have made the strength of the crypto community since the beginning of the growth of the Bitcoin. Namely: the pursuit of the objective of make financial instruments accessible to all, guarantee the impartiality and inclusiveness of investors, provide the means and tools to invest without being in a control posture, all while playing on innovation, transparency and meritocracy .
With all this, we understand better why this “Made in Switzerland” exchange has a bright future ahead of it. From Thecointribune, we have tested it for you to help you get started with this platform that really deserves to be discovered whether you are new to it or more experienced. So, ready to join the SwissBorg ship to join the crypto galaxy? We take you with us in the following lines.
The SwissBorg ecosystem
When you download the Wealth App of SwissBorg, you gain access to a complete ecosystem of essential and free features for all users. It should be noted that these features are innovative, indeed, you will not find them, for the most part not on other platforms, and even less for free. By observing these multiple functionalities, we understand that SwissBorg did not lie to us when they say they want to offer the best offer on the market without charging a high price to its users. Now let’s take a look at the said features.
The smart engine
This tool developed by the teams of SwissBorg allows you to carry out transactions that allow you to obtain the best rates. The smart Engine allows, behind a simple transaction in front of perform consecutive cryptocurrency transactions that a human simply could not perform. On the one hand, the smart engine compares rates on different platforms and executes orders to maximize your investment. On the other hand, the smart exchange report, shows you, in complete transparency, the various transactions carried out. All this allowsincrease the transparency of transactions carried out on SwissBorg which differentiates itself from other platforms that may apply hidden fees.
This tool for analyzing your portfolio included directly in the Wealth App mobile application is a real advantage for any investor in the crypto market. Indeed, thanks to a very clear visualization you can observe:
- The evolution of your “Libra” in order to see at a glance the evolution of the value of your investment over time.
- The total profit and loss of your investment, realized and unrealized profits and losses as well as a summary of your costs. This last element further proves SwissBorg’s desire for transparency, it is an element that you will not find on other platforms.
- The allocation of your investment in the various cryptocurrencies in which you can invest from SwissBorg. An important element to see if your portfolio is well balanced between several crypto-assets or if, on the contrary, it leans a lot towards a particular crypto.
This is arguably one of the most remarkable tools that has been developed SwissBorg. Indeed, once again, from your Wealth App mobile application you will be able to access a bunch of indicators that will allow you in a simple and readable way to understand the elements to take into account before investing in a particular crypto asset. There are therefore 7 elements of analysis on the app:
The “Cyborg Predictor” based on a machine learning algorithm is the formidable robot from SwissBorg which analyzes massive amounts of data to give you its opinion on the evolution of the price of cryptos.
The “SwissBorg indicator” gives you real-time trends in the markets, this indicator actually brings together several key elements of analysis that are the RSI, MACD lines, Bollinger bands, the market trend over the last ten days. Whether you are a pro or not, you have a summary with this indicator.
The “Community Sentiment” shows the trend of SwissBorg investors in real time, so you can see if other users are instead buying or selling the cryptocurrency you want.
The “LiveChart” allows you to follow the evolution of the price of cryptos by revealing additional elements of analysis which are the MACD lines as well as the Bollinger lines.
Automatic calculation of “Support & Resistance” allows you to directly see the price range within which the cryptoasset you are following will potentially move.
The “Technical analysis” indicator is a summary written in a few lines of the situation of the market trend in relation to an asset. This analysis is particularly valuable for getting a quick idea of a potential investment.
Finally the “Market Stats” Brings you a summary of the key elements of the cryptocurrency rank on the MarketCap rankings, the marketcap’s percentage of assets in the cryptocurrency market as well as the volume of cryptoassets you are looking at.
In short, you will understand, with such a toolbox within everyone’s reach, no more excuses for not investing in the market at the right time!
Multi Currency Account
This feature allows you to invest using multiple Fiat type currencies. SwissBorg thus supports more than 18 Fiat currencies on its platform. So you can for example invest in Euro, Dollar, British Pound etc … . This gives you the possibility to diversify your Fiat currencies to invest in the Crypto market. Being able to use several currencies allows you to:
Get the most attractive exchange rate by investing in a stronger Fiat currency.
The possibility of carrying out transactions with large volumes via the dollar exchanges which have the most important liquidity.
The possibility of investing with a stable Fiat currency if your local currency is unstable with high volatility in particular.
In order to grow your cryptocurrency investments, SwissBorg has developed this so-called Smart Yielding offer. The goal is to earn you interest on your cryptocurrency investments with a turnkey offer. Indeed, we know the difficulty and the risks involved in the decentralized finance sectors, the various yield farming programs, cefi lending or even defi lending. It is quickly possible to get confused even with some experience in cryptocurrency. Thus, with Swissborg’s Smart Yielding, you will be able to benefit from very attractive returns while minimizing the risks induced by the products of the decentralized finance market but also the risks of default present on certain platforms. To find out more about this offer, we advise you to go for a ride on a article that we had dedicated to this subject.
The CHSB – token with multiple uses
The token CHSB is the token issued by SwissBorg at the time of the ICO which raised a value of $ 52 million. At the time of the ICO the token was sold at a price of 0.1 USD for a quantity of CHSB in circulation of 683,742,882.
The CHSB token is an ERC-20 type token, these tokens are based on technology Ethereum. In the case of the CHSB, this is what is called a “Utility Token” in practice, this means that holding it gives you access to advantages and rewards on the SwissBorg platform. This is the same principle that can be found on other platforms like Binance (BNB) with his BNB token.
All the statistics of the CHSB token are shared in a completely transparent way and can be consulted online.
When you hold tokens CHSB, you have access to several advantages which are in particular:
- Being able to access status Premium on SwissBorg and thus benefit from 0% transaction fees on BTC, CHSB and stable coins (USDC, PaxG & DAI) and reduced fees on all available cryptos.
- Have a voting rights to choose strategic developments upcoming project SwissBorg.
- Earn rewards to thank you for your participation in the SwissBorg ecosystem.
- The “Yield Boost” option will double the earnings of the “Smart Yield Account”
- Take advantage of the “Buy Back & Burn Mechanism” SwissBorg devotes 20% of the income generated to buy back CHSB tokens in order to protect the price and then destroy these tokens which reinforces the scarcity and increases the value in the long term.
Regarding the CHSB, it is interesting to note that the token performed very well, thanks to the Buy Back & Burn Mechanism. The token has also reappeared in the top 100 in terms of Market Cap in the cryptocurrency market.
Register and secure your SwissBorg account
The first step is obviously to register after downloading the application Wealth App from SwissBorg. The ergonomics are very fluid in terms of registration on the application, this corresponds to the latest market standards in terms of UX and UI design.
In order to validate your registration and to be able to start using the platform SwissBorg, you’ll need send an identity document. This process is essential in order to guarantee the security of your account, it should be noted that SwissBorg makes the security of its application as well as of its users’ data one of its priorities. The verification of this part is done very quickly compared to what can be found on other platforms where it can sometimes be overwhelming and frustrating.
There are thus 3 levels of verification of your account on SwissBorg:
- Level 1 : is accessible after checking your identity document. At this stage you can deposit funds up to the limit of 5000 euros and withdraw funds within the same limit.
- Level 2 : is accessible after verifying your home address, this is done by sending a document such as your bank statement or your electricity bill on which your address appears. This level allows you to deposit and withdraw funds up to a limit of 100,000 euros.
- Level 3 : is accessible after verifying the origin of your funds. With this level there is no longer a deposit and withdrawal limit on the platform.
Once you have validated your account according to one of these 3 levels, you still have to secure access to the application SwissBorg on your smartphone using a pin code or by faceid if you are on iPhone.
What can I buy on SwissBorg?
On SwissBorg, you can buy cryptocurrencies using the Fiat currency of your choice thanks to the multi-currency account, you can also sell your cryptocurrencies to convert them into one of the many Fiats currencies available on SwissBorg. These transactions are possible via the tool “Smart engine” discussed earlier in the article. Below we have listed the Fiat currencies as well as the available cryptocurrencies.
Buy cryptocurrencies on SwissBorg
In order to buy cryptocurrency on SwissBorg you need to either deposit funds via a bank transfer, or transfer cryptocurrencies that you have to another crypto wallet.
Regarding the bank transfer, you must make a transfer, in one of the 18 currencies available on SwissBorg. Once you have chosen the Fiat currency in which you wish to make the transfer, you must retrieve the banking information present on the application (IBAN, BIC etc …) which allows you to credit your account on SwissBorg. It is important to note that you cannot make a transfer from an account other than your own. The account from which you make the transfer must therefore be in the same name as your account on SwissBorg. Of course, in the context of a bank transfer, you will have to wait about 2 to 3 working days for your funds to be available on the application SwissBorg.
Then, to purchase cryptocurrency on SwissBorg, go to the “Marketplace” tab of the application. Choose the cryptocurrency that interests you, click on “Buy”; finally choose the Fiat or Crypto account you want to use to make the purchase, validate the amount and you’re done!
Withdraw your funds from the platform
In order to withdraw your funds from SwissBorg to recover them in your bank account, you have two steps to perform: the first is to sell your cryptocurrencies against the Fiat currency of your choice. Once your balance is credited in Fiat currency on SwissBorg, click on your balance and choose the option “Withdraw”; then fill in the bank account you want the funds to be sent to. Once again the option of “Withdraw” is one click away from the application.
Transfer cryptocurrency from or to another platform
The other solution available to you to deposit funds on the application is therefore to directly deposit cryptocurrencies that you already own in one of your crypto wallets. Choose the option deposit, then choose the crypto you want to transfer to your SwissBorg account to obtain the address to which you must complete the transaction from your other wallet. By opting for this solution your account will be credited faster than by bank transfer. It is still necessary to already own cryptocurrencies elsewhere. In both cases, the SwissBorg application is very intuitive and you easily access the information you need to carry out deposit transactions.
Protect your cryptocurrencies with SwissBorg?
An essential point when you want to invest in cryptocurrencies is the fact of Make sure that the platform through which you make the purchase and transactions ensure the security of your cryptocurrencies to the highest degree.
A weak point in the security of cryptocurrency wallets often stems from the private key. This key most often takes the form of a series of words that form a 24-word sentence. This private key is therefore the only way to recover your cryptoassets in the event of loss of your wallet.
In order to further secure your cryptocurrencies there are several options on the market today. SwissBorg has chosen to ensure the security of cryptocurrencies on its platform by using “MPC Technology” for “Multi-Party Computation”. This technology was developed by the company “Curv”, she permits eliminate the problem of the private key and thus guarantees a very high level of security for your cryptocurrencies when you use SwissBorg.
SwissBorg and its wealth app, a real gem that will convince you ! Switzerland is known for its chocolates, its banks and Lake Geneva. Now we also know that the Swiss region is positioning itself on the international crypto scene and the emergence of SwissBorg is a very good example of crypto success today. If you want to have a simple, intuitive and ergonomic experience for making and monitoring your investments in active crypto, go for it, you will not be disappointed by the product developed by SwissBorg. To get started, you can download the Wealth App and register.
Guillaume has been passionate about Blockchain technologies and cryptocurrencies for several years now. He strongly believes in mass adoption of these in the years to come. Eager for crisp news and always on the lookout for the latest trends in the cryptocurrency market, he takes pleasure in sharing all their secrets with you!