Swan Bitcoin Review 2022: Is It Secure App?

what is bitcoin swan?

swan bitcoin is a cryptocurrency exchange app that helps automate bitcoin purchases, specifically acting as a savings account. is a platform through which merchants can purchase bitcoins and safeguard their respective bitcoin holdings. swan bitcoin aims to make bitcoin investments easier and more feasible for people (especially new traders) hoping to enter the crypto sphere with a desire to trade on a secure platform. Swan’s focus is on bringing the next 10 million active users into bitcoin investing. the team behind swan is constantly trying to educate bitcoiners at all experience levels to make bitcoin investing easy.

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What makes this built-in algorithm unique is its unique recurring purchase system that allows individual traders to purchase bitcoins in their preferred amounts on a daily, weekly, bi-weekly or monthly basis. Users can set up their Swan Account to automatically withdraw funds from their individual bank account. Once the bitcoins are purchased, users can also set their preferred withdrawal schedule by assigning a bitcoin address to their Swan account. a swan user can select any number of bitcoins for any period of time. This method, called dollar cost averaging, incentivizes merchants to save well above their spending or selling limits.

The interesting part about swan above all is that the app ensures that one’s dollars are effectively converted to the cheapest bitcoin price possible. therefore, it has become one of the most accessible and user-friendly platforms for acquiring bitcoin by allowing users to sign up for a recurring bitcoin purchase while simultaneously enjoying competitive rates.

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how does bitcoin swan work?

the swan bitcoin team makes it cheaper and easier for merchants to acquire bitcoin. merchants can decide to make a one-time purchase financed through bank or instant transfers. Alternatively, the Swan Bitcoin team allows merchants to sign up for the ‘Swan Bitcoin Automatic’ recurring plan and select the amount of money they wish to save in Bitcoin. It can be daily, weekly or monthly. The Swan Bitcoin app constantly converts merchant dollars into bitcoin savings and automatically acquires more bitcoins when the price drops. When users give their bank account details to Swan Bitcoin, the amount is automatically transferred to a Nevada licensed and regulated trust company called Prime Trust. users can also create a legally registered account in their name. once the funds are cleared, prime trust executes an instant transaction to exchange your fiat money to buy bitcoin at the existing market price.

prime trust boasts of securing billions of dollars in fiat currencies and cryptocurrencies for some of the biggest players in the industry. the platform also ensures that bitcoins do not move out of the user’s account. users also get a direct confirmation from prime trust every time they withdraw their small bitcoin purchases. This protocol and security standard complies with the Internet Security Reference Center.

therefore, swan bitcoin automatically withdraws funds from the merchants linked bank account and constantly buys bitcoins for them. merchants can choose to withdraw their bitcoins manually or set up an “automatic withdrawal plan” to automatically withdraw bitcoins to the bitcoin wallet as soon as they complete their purchases.

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what is swan private?

swan private is a dedicated service launched by swan bitcoin to meet the business needs of high net worth individuals and corporations towards creating “generational wealth with bitcoin”. High net worth individuals looking to buy at least $100,000 worth of bitcoin benefit greatly from this dedicated service. helps clients establish their bitcoin position over time by allowing them direct access to the private swan team.

also supports unlimited bank transfers on purchases made by users. provides excellent guidance to users on how they should maintain self-custody of their private keys for their bitcoin addresses, in retirement accounts, and also regarding tax assistance. In addition, their brokerage and custody services are backed by a master escrow, allowing customers to withdraw their bitcoin holdings to their own custody, or they can also choose to keep bitcoins in cold storage wallets offline through from a legal trust account you own.

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bitcoin swan features

See also: 11 Ways to Buy Large Amounts of Bitcoin in Bulk (2022)

swan private offers the following advanced features to its registered users:-

automatic recurring purchases

A unique feature of this platform is that it allows users to select “automatic recurring bitcoin purchase” plans. they can choose between the weekly, fortnightly or monthly purchase options program.

referral program

If a user refers or introduces other users to the swan bitcoin platform, they will earn a percentage of their referral’s total purchase amount in bitcoins. Users can join the “Swan Force Referral Affiliate Program”, which is available to anyone worldwide. swan bitcoin will pay a flat fee of 0.25% of what merchants buy from the referral to the person who hires them.

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automatic withdrawals

Users can set their preferred withdrawal times to transfer a specific amount of bitcoins. these funds can also be sent to the user’s preferred bitcoin wallets or top crypto wallets.

swan bitcoin review: pros and cons

how to start with swan bitcoin?

US residents must meet the following requirements to sign up for a bitcoin swan account.

  • You must be 18 years of age or older.
  • You must have proof of valid US photo identification. such as a driver’s license or passport.
  • must have a valid social security number (social security number).
  • must be able to show a valid US address or a bill address-linked utility if requested.
  • You must have a valid US phone number connected to the smartphone that will be used to access the swan bitcoin cash app.
  • must have an active US bank account.

bitcoin swan registration process

account creation

The first step to get started with swan bitcoin and buy bitcoins automatically is to create an account on the platform which requires users to fill out a registration form with some required fields such as email address, a unique access code and then continue. the suggested steps. After this, individual traders will be asked to select the amount they intend to invest in bitcoin, how often they would like to make purchases, etc. bank account with swan bitcoin cash app.

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after completing the information required for account opening, now is the time to verify the account. the verification process can take between 30 seconds and 5 days. Merchants should make sure to carefully follow the leaked instructions and upload clear documents so that the verification process is completed quickly.

start acquiring bitcoins

As soon as the verification process is complete, the swan team will automatically withdraw funds from the users linked bank account and start making bitcoin purchases on their behalf. Normally, a bitcoin holding period is set to buy at ideal bitcoin prices. once the purchase is made with a cost in dollars, users can withdraw their bitcoin holdings manually or through the exclusive “automatic withdrawal plan” directly into their preferred bitcoin wallet.

swan bitcoin bonuses & reference

swan offers a $5 bitcoin bonus every time a user successfully refers a friend to the automatic bitcoin savings plan. each of the referrals gets a minimum bonus of $10 bitcoin. In this way, Swan makes investing in bitcoins much easier by automatically buying bitcoins for users every week/month or paycheck, starting with as little as $5. The service is available in about 50 states and all US territories, including Guam and Puerto Rico.

swan bitcoin rates & limit

swan bitcoin offers the cheapest way to accumulate bitcoins. Fees are charged on the amount of USD that is converted to Bitcoin, and there are also no storage fees or performance fees on the platform. The platform has the lowest rates for recurring purchases in the US. USA, and no withdrawal fees are charged to registered merchants on the platform. Depending on the size of the recurring plan, Swan Bitcoin trading fees are between 23% and 80% cheaper compared to other leading platforms. Additionally, Swan Bitcoin fees are based on weekly amounts saved.

for instant purchases

Instant purchases are charged at a rate of 0.99% when merchants are on a weekly $50 per week prepaid plan or have purchased $5,000 worth of bitcoin per year. otherwise, the fee is charged at a flat rate of 1.49%.

for bank transfers

See also: Should You Buy Things With Crypto? Here&039s Why You Shouldn&039t | NextAdvisor with TIME

For bank transfers, swan bitcoin charges a flat fee of 0.99%. however, no fees are charged for executing transactions on the platform.

for recurring purchases

as soon as merchants sign up for a savings plan with swan, they are free to choose their fee payment schedule; they can choose to prepay the fees annually, that is, a one-time lump-sum payment, or they can choose the pay-as-you-go option, which is a small fee paid for each transaction. recurring purchases in a swan savings plan allow merchants to choose how often they want to buy bitcoins. the swan savings plan for recurring purchases are:-

  • prepaid annual fee

    having a savings plan with swan allows merchants to prepay their fees annually. for purchases in the range of $5-$24/week, the fee charged is 1.99%, for a range of $25-$49/week, the fee is 1.49%, and for $50/week or more, merchants they must pay a fee of 0.99%. .

    • pay-as-you-go rate

      Purchases between $5 and $24 per week are charged a flat rate of 2.29%, between $25 and $49 per week of purchases a rate of 1.79% is charged, and for purchases of $50 per week or more , a fee of 1.19% is charged. for more details on their fee structure, click here.

      accepted payment methods

      swan bitcoin only accepts ach transfers in the united states and wire transfers for international merchants. Merchants should link their bank checking account to Swan Bitcoin and set up their bank to allow frequent ACH transfers and also allow Prime Trust to make individual ACH pull transfers. In the meantime, if traders have trouble connecting their bank account to swan, they can try linking another bank account to the platform (swan bitcoin), preferably a bank account registered with a large national bank rather than a regional bank or credit union. small credit.

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      supported currencies and countries

      traders living in the usa. uu. (including Puerto Rico and Guam), the UK, France, Mexico, Canada, Germany, Australia and any other country not on the OFAC list can invest in Bitcoin through the Swan Bitcoin platform. Citizens residing outside of the United States should use ‘swan bitcoin international’ to register on the swan bitcoin platform and use wire transfers only to make payments on the platform.

      however, swan bitcoin cannot send text messages to countries like australia, finland, saudi arabia, new zealand, china, dubai and namibia, which means the platform cannot connect with users by phone at this time . In addition, the company has announced that it will not expand its services to countries such as North Korea, Cuba, Nigeria and Iran.

      swan does not allow users to buy, store or trade any other cryptocurrency except bitcoin. Additionally, only USD is accepted to purchase Bitcoin, and trading fees depend on the total amount of USD being converted to BTC.

      bitcoin swan customer support

      According to numerous swan bitcoin reviews available online, users have always used phrases like “pretty awesome”, “responsive”, “fast”, etc. when describing swan’s customer support services. In our review, we would like to emphasize that the customer support team is quite responsive and prompt. Customers can submit their queries either by email, by phone or through the ticketing system itself, which resolves incidents within a maximum period of 24 hours. the customer service team is also available through social platforms such as twitter and instagram.

      swan bitcoin review: conclusion

      According to our bitcoin swan review, it is the most trusted crypto exchange platform and appears to be very secure and reliable. It allows merchants to buy, sell and store bitcoins quite easily and cheaply. Merchants just need to connect their primary US bank account. UU., set the limit they want to operate and choose their savings option. the rest will be done automatically by swan – it will easily convert dollars into bitcoin savings.

      frequently asked questions

      what are the swan bitcoin fees?

      bitcoin swan fees are calculated based on weekly amounts saved by merchants, such as saving $50 per week with prepaid fees annually puts merchants at the lowest fee tier of 0, 99%. additionally, swan fees are charged on the amount of usd that merchants wish to convert to bitcoin, and merchants do not charge storage or throughput fees.

      is bitcoin swan safe?

      yes, swan bitcoin is a secure platform that stores bitcoins purchased by merchants in a nevada licensed and regulated trust company called prime trust. stores minimal personal data of users on swan servers. In addition, the platform has an encrypted database to guarantee the protection of customer data.

      where is the bitcoin swan?

      swan bitcoin is located in california and is headquartered in los angeles.

      does bitcoin swan offer margin trading?

      no, swan bitcoin does not allow margin trading as of now; Traders may not purchase bitcoin on margin or leverage nor may they purchase bitcoin derivative products such as futures or options.

      See also: 40 Bitcoin Games to Earn Cryptocurrency Playing Online in 2022 | PokerNews

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