SwissBorg is a decentralized cryptocurrency financing and management platform operated by the community of its users, much like a blockchain. This platform allows you to buy and sell cryptocurrencies.
However, there are several platforms that do that. SwissBorg is different and sparked a discussion within the crypto world. There are many investors who wonder whether using the Swissborg platform is a good idea.
In this article, we explain what Swissborg is, how it works and where you could buy the CHSB token. Of course we will also tell you whether it is wise to buy CHSB!
- 1 What is Swissborg?
- 2 SwissBorg is a DeFi project, but what is it?
- 3 How does Swissborg work?
- 4 The main features of Swissborg
- 5 What cryptocurrencies are available on Swissborg?
- 6 Which countries are allowed on SwissBorg?
- 7 The advantages and disadvantages of Swissborg
- 8 How can I buy the SwissBorg token (CHSB)?
- 9 CHSB Token Price
- 10 Is it smart to buy SwissBorg (CHSB)?
- 11 Conclusion
What is Swissborg?
The SwissBorg platform was founded in 2017 in Lausanne, Switzerland. It is a wealth management platform. The main aim is to enable the users to manage their money in a more simple and independent way. It is available on both the website and the Swissborg application.
SwissBorg is decentralized and works thanks to an automated algorithm. This prevents interference from companies that often try to influence things in their favor. This can be the case with a centralized exchange. For example, a company can make more profit by increasing the transaction costs, so that users pay extra money to the intermediate company.
Creator Cyrus Fazel wants to revolutionize the financial world by offering a fun way of investing that allows investors to earn money in a relaxed way. SwissBorg currently has more than 200,000 users worldwide. It is a competitor to platforms such as Nexo . See a video about SwissBorg below.
SwissBorg is a DeFi project, but what is it?
We come across the term DeFi more and more when it comes to blockchains. It is becoming more popular every day, which is why it is important to know what DeFi is. With DeFi, current financial services and programs are transformed into decentralized services and applications. At the moment this is all still done centrally. For example, an insurance company or bank is centrally located. Data is stored on its own server, and no one else but you and the bank can access it. Even when you want to carry out a transaction, this is done via the bank. Or if you want to report a damage, you must do this via the insurance company.
DeFi wants to ensure that this can all happen via the blockchain . Payments can already be made via the blockchain, with cryptocurrencies such as Bitcoin and Ethereum . It is also increasingly possible to perform other financial transactions via the blockchain. Contracts can be set up and executed by means of smart contracts . These are pre-programmed contracts, which are automatically executed when certain conditions are met.
For example, you no longer need a notary. Suppose you buy something, a smart contract can check whether the product has actually been shipped. At that point, the money is automatically transferred to the beneficiaries. Distrust is a thing of the past with this application.
How does Swissborg work?
The definition of what SwissBorg is can be complicated for those with little knowledge of blockchains and crypto. However, the way it works is quite clear. To use the platform, you must have one (or both) of the various software released by SwissBorg. You cannot invest through Swissborg without using these applications.
The main application of this project is called SwissBorg Wealth App. This app makes all services available on the ecosystem. Which means:
- Checking and performing a market analysis
- Buying and selling crypto coins
- The storage of currencies in high-quality wallets
- The exchange of crypto
To use these different services, you must register yourself and choose from the two investment accounts allowed on the site. These are the standard account and the premium account. These two modules offer the same features, with the major difference that the premium account does not charge commission for investments. See what the design of this app looks like below.
The main features of Swissborg
In terms of trading, Swissborg is very fast and efficient, especially since you have a whole host of features at your disposal. First of all, you have the Cyborg Predictor, a robot that analyzes thousands of bits of market information that allows you to anticipate the price of an asset.
SwissBorg’s indicator function is in the same context. It gives you graphical data showing the state of the market in real time. Finally, the platform gives you a meter that illustrates the frequency of buying and selling on the platform. You can use these tools to make the best investment decision.
SwissBorg gives you the opportunity to buy crypto coins with fiat currencies such as USD, EUR, GBP, CHF and many others.
The second important feature is the SwissBorg Community App. This is what allows you to participate in the game to win Bitcoin. It has the same features as the previous one.
While the SwissBorg app’s exclusive forecasting services and indicators may sound interesting to help beginners make trading decisions, you should know that there is an easier alternative: eToro ‘s CopyTrading service , which allows you to automatically copy the positions of the best traders. that have proven themselves over time.
What cryptocurrencies are available on Swissborg?
SwissBorg does not currently support all cryptocurrencies. Nevertheless, the major coins are on the list. However, you will not be able to take advantage of the exotic and new crypto coins and tokens in development such as Tezos yet . Here are the coins supported by SwissBorg:
- Bitcoin (BTC)
- Ethereum (ETH)
- Swissborg Token (CHSB)
- USD Coin (USDC)
- Binance token ( BNB )
- PAX Gold (PAXG)
- Enjin Coin (ENJ)
- Aave (AAVE)
- KNC Legacy (KNC)
- Dai (DAI)
- Compound ( COMP )
- Run (REN)
- Uni swap (UNI)
- Utrust (UTK)
- Chiliz (CHZ)
- Polka Dot (POL)
These are the crypto coins that will be added soon:
- Stellar (XLM)
- Hedera Hashgraph (HBAR)
- Tezos (XTZ)
- Cardano (ADA)
- Ziliqa ( ZIL )
- Maker (MKR)
- Basic Attention Token (BAT)
- chain link (LINK)
Which countries are allowed on SwissBorg?
Currently, the SwissBorg website is spread over almost all 5 continents of the world. It is therefore difficult to list all countries where this platform is available. Nevertheless, we will mention the countries where Swissborg can be used legally:
- United Arab Emirates
- South Korea
- Ivory Coast
- The Netherlands
- Costa Rica
The advantages and disadvantages of Swissborg
The SwissBorg project managed to raise $52 million in its ICO several years ago. This is proof that this project was a harbinger of success from its birth. However, the results have not always been consistent with SwissBorg’s claims. So it is a multi-service platform that has both advantages and disadvantages.
First, you can buy and even store crypto coins there. The crypto wallet provided by this project is very secure. The range of cryptos is relatively varied and fun, allowing you to buy and store the most important coins in the wallet.
SwissBorg adds some innovative features that really make it easier for you to invest. Just like an exchange, you can also trade cryptocurrencies online on this site.
The commissions charged on SwissBorg are also very low. If you use a premium account, your transactions will be completely free.
Investing on the SwissBorg website or app is also done in a smart way. The platform provides users with research data that helps you understand the market. That way you can estimate whether a crypto will take a high price, or whether its price will plummet.
Other benefits include:
- Governance : Users can participate in the future of SwissBorg by getting voting rights in referendums. This is done through RSB tokens.
- Protection and Combustion Mechanism : This feature allows you to take advantage of a reduction in the token supply. This mechanism supports the price of CHSB tokens by buying back and burning the outstanding tokens when the price tends to fall. As a result, the price will eventually rise in the future.
- Staking : Staking allows users to contribute to the SwissBorg platform to earn rewards. When you hold a CHSB coin, RSB coins are generated. These RSB tokens allow users to vote.
However, the range of cryptocurrencies allowed on Swissborg is far from adequate. You only have access to the main digital currencies. That is why you cannot think ahead and take positions in newer cryptocurrencies that are for sale at other exchanges.
In addition, SwissBorg does not really support all trading features. There is no leverage and no actual trading. All you can do is buy or sell assets right away.
How can I buy the SwissBorg token (CHSB)?
The CHSB token are both available for purchase and exchange on a wide variety of cryptocurrency exchanges, including platforms such as Coinbase , Binance, CoinMerce , and Bitvavo , as well as the popular decentralized exchange Uniswap. Of course, you can also buy the CHSB token on the SwissBorg exchange itself.
Despite the fact that it is for sale on many exchanges, it is not always wise to buy this on any arbitrary exchange. We recommend using Binance or Bitvavo. Why? Because these two crypto exchanges have high liquidity, which allows you to buy and sell CHSB tokens at the best price. In addition, these two exchanges have already proven themselves in terms of security.
Of course it is also possible to buy CHSB on a decentralized crypto exchange , such as Uniswap or Sushiswap . However, this is not always wise. You have to go through many more steps when you use a DEX. This means that the chance of things going wrong is many times greater. So it is safer to opt for a centralized crypto exchange.
CHSB Token Price
When you consider investing in SwissBorg tokens, it is good to keep an eye on the price. This way you can determine when the best time has come to buy and sell the tokens. After all, you probably want to make as much profit as possible with your investment.
At the time of writing (June 2021), CHSB tokens are worth an average of $0.77432. You can track the price of CHSB tokens on CoinMarketcap’s website:
Is it smart to buy SwissBorg (CHSB)?
Now let’s explore whether SwissBorg can be a profitable investment. To talk about this, there are a number of points that must be taken into account.
First of all, you will have to look at how much you want to invest. This also determines the profit you could get with your investment. It is possible to invest in the Swissborg token from as little as a few tens.
The profitability of SwissBorg strongly depends on the type of investment you make, the exchange you use and at what price you buy the token. When you buy CHSB tokens for a cheap price, and sell them for a higher price, you can make nice profits from the investment you make in SwissBorg. For example, many people have already made a lot of money on this project.
However, there are also situations where the outcome may be different. If you take a position when the opening price is lower than the closing price for example. You then end up with a negative profit, meaning you owe money.
Fortunately, the chance of this happening with Swissborg’s applications is very small, because the site offers you the most modern analysis tools. This allows you to determine for yourself when it is a good time to enter and exit the token.
SwissBorg has succeeded in creating a unique product that has solved many problems associated with wealth management. In addition, this project has made investing in cryptocurrencies easy, fun and accessible to anyone with or without experience. The community app has more than 350,000 users to date, which speaks volumes about the support and preference of the people who operate within this world.
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com