SwissBorg an easy way to get in the crypto world

Hello all!
This is my 1st post even though I’ve been a mustachian for a while :wink:

I have been using the SwissBorg app for aime time to buy the cryptos that I am interested in. For those who do not know it is a Swiss app that exists since 2019 it seems to me, quite young. But the team is young and seems to have great projects. They recently did a live on YouTube describing them.

What interests me the most is their “smart yield” basically you can stake cryptos and get a substantial reward “without too much risk”.

They even offer their own money (CHSB) a bit like the binance token and this one, by staking, a certain number of this token allows you to become first and reduce or even eliminate fees. Normally it is 1% per trade.

I really feel that this “new” platform will make cryptos accessible to everyone. What I like is that everything is easy and transparent for the user. Especially since the headquarters are in Switzerland, in Lausanne, which personally reassures me a little.

For me it’s an excellent investment complement after the bible of Mr. MP :wink:

Finally they even have a sponsorship system. One clicks on a link, by creating a valid account one has then the possibility to scratch a ticket and win up to 100.- chf on his SwissBorg account

Thank you very much for reading and have a nice evening !

Unless it’s … not.

1 Like

The headquarters are if you look directly on their website

No doubt.

Now comes the salient question(s):

  • With which of the two (or three) entities do I actually enter into a contract, as a customer?
  • By which country’s laws will my client relationship be governed?

I mean… you did say it was all beautifully transparent, didn’t you?

Thats the kind of question that you can ask on their Support

By transparent I meant that they clearly indicated the fees and that you have a clear view of your portfolio for example.
For me, all the operations are easy to carry out contrary to other platforms that I have tested.

The link pointed above has this:

The Terms shall be governed by the laws of Estonia. Any dispute regarding these Terms shall be subject to the exclusive jurisdiction of the courts of Estonia. The Execution-Only Mandate Agreement applicable to you shall be subject to its own applicable law and jurisdiction clause.

I am a bit wary of claims of earning “up to 37.55 % p.a.” on my assets.

I saw that you did edit your initial wording from the original post (that I quoted above). :slight_smile:

They are for sure advertising and trading on their “Swissness” - though their legal and contractual structure seems abit convoluted and messy. Especially with regards to Swiss users and their execution-only mandate agreement with the Swiss representative company. And I haven’t even looked into their yield program yet.

But to be fair, they do seem rather upfront and transparent about their legal and holding structure. Especially if you know where exactly in their FAQ to look on their web site.

Compared to many of their peers (see my the discussion on Binance earlier today), they’re also almost a model in transparency in how they’re indicating both their entities with physical addresses on their web site. So to be fair, you have to give them credit for that.

I just wouldn’t consider or present them as a fully (and “transparently”) Swiss operation.

I removed your referral link. We keep them out of here, otherwise people only want to post this.

1 Like

There is another thread (or a few) w.r.t. Swissborg already.

Pls fix. (Merge :slight_smile:)

Ok thank you.
The nice thing about this rewards program is that both get something, kind of like with ViAC. If anyone wants my link they can always ask me privately.

FYI it’s not good etiquette to post referral links in your first post. Best to try to first contributing to the community before trying to gain something from it. (Just a matter of optics)

3 Likes

Have you seen the Crypto Cash & Carry Trade thread? It does indeed seem possible to have a relatively low risk gain with those numbers by doing such trades.

But generally +1 on this thread being suspicous for advertising Swissborg with a new account. I personally don’t want anything to do with Estonian registered companies anymore after my P2P investing experiment.

I’m onboard since the ICO that happenend during the bull run of 2017 (damn, i feel like a fake war veteran saying it like that !).

At first i thought the money was gone : no product to deliver, a lot of the cryptobullshit from the moment (AI, deep-learning, user-based community, etc). Then the carsh of early 2018 happened, lots of coin disappeared into thin air, leaving bagholder with only their diamond-hands to cry (insert random PTSD noises).

Fast forward to 01/2021, I realised they did have a product, which is basically a fancy wallet to buy mainstreams crypto, without basic trade order (you can only market-buy/sell). Tracking the performance of your portfolio is very basic (you can only see hom much $ you gained since a day/week/month, there’s no way to track your relative performance or ROI). They do capitalize on the swiss aspect of the brand a lot. They also say they have an AI-based algorithm, but it is not easy to see whether it efficient or not (in a bull market, everyone is a genius, even an AI) and there is no way to profit from it, at least from a customer point of view. The fees are somewhat high, around 0,5-1%, but you can lessen them to 0-0.25% with their home token CHSB, which will of course appraise in value with the number of hodlers (from which i am).

tl;dr : In my opinion, the advantage are that it accepts CHF wire transfer, that it will be easier to declare gains in chf for the dreaded 2021 tax declaration and that it may evolve into something more useful than a swiss coinbase in the future. i’m still doubtfull about the efficience of their algorithm, which is supposed to be the main product of their wealth management app…

3 Likes

And i forgot about the reddit community, so full of shillers it’s tiring. But that’s how cryptos work, isn’t it ?

I saw the ico days from close too and it is hard to trust them for that reason (I never invested nor owned their token). That being said, the product and the team are progressing, so who knows, maybe something good will come out of it in the future.

But then, you have all the guys posting their referral codes everywhere, and again I find it weird and difficult to trust. I know a few happy users, just proceed with caution.

Just to made it a bit clearer about Swissborg :slight_smile:

Terms of Use | SwissBorg

24. GOVERNING LAW AND JURISDICTION

These Terms and your use of the Website, as well as all matters arising out of or in relation to them (including non-contractual disputes or claims and their interpretation), shall be governed by the laws of Switzerland, with the exclusion of conflicts of laws rules.Any claim or dispute regarding these Terms or in relation to them shall (including for non-contractual disputes or claims and their interpretation) be subject to the exclusive jurisdiction of the Courts of Lausanne, Switzerland, subject to an appeal at the Swiss Federal Court.

Last modification: 26 February 2021

Privacy Policy | SwissBorg

18. JURISDICTION AND GOVERNING LAW

This Notice and any questions relating thereto shall be governed by the laws of Switzerland, to the exclusion of any rules of conflict resulting from private international law.

Any dispute relating to this Notice must exclusively be brought before the courts of Lausanne, subject to an appeal to the Swiss Federal Court.

Last modification: 26 February 2021

Terms of Use - SwissBorg app | SwissBorg

45. GOVERNING LAW AND JURISDICTION

The Terms shall be governed by the laws of Estonia. Any dispute regarding these Terms shall be subject to the exclusive jurisdiction of the courts of Estonia. The Execution-Only Mandate Agreement applicable to you shall be subject to its own applicable law and jurisdiction clause.

ANNEX 6 - EXECUTION-ONLY MANDATE AGREEMENT

17. Applicable Law

The interpretation and enforcement of this Agreement will be governed by, construed, and enforced in accordance with the laws of Switzerland, without regard to conflict of law rules and principles that would cause the application of the laws of any other jurisdiction. Any dispute regarding this Agreement shall be subject to the exclusive jurisdiction of the Courts of Lausanne, Switzerland.

Last modification: 26 April 2021

Privacy Policy - SwissBorg app | SwissBorg

22. JURISDICTION AND GOVERNING LAW

For non-Swiss Users, this Privacy Notice and any questions relating thereto shall be governed by the laws of Estonia, to the exclusion of any rules of conflict resulting from private international law. Any dispute relating to this Privacy Notice must exclusively be brought before the courts of Estonia.

For Swiss Users, this Privacy Notice and any questions relating thereto shall be governed by the laws of Switzerland, to the exclusion of any rules of conflict resulting from private international law. Any dispute relating to this Privacy Notice must exclusively be brought before the courts of Lausanne, Switzerland.

Last modification: 26 April 2021

From what I understand, if you have a problem regarding the app, you will be subject to estonian law, however, if the problem is against the company itself, you will be eligible to claim it in Switzerland. Moreover, everything regarding transaction made with their app, as it is purely “execution-only mandate” should be governed by swiss laws.

I guess that if the app doesn’t work, you will have to claim it in Estonia.

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I actually put some money into the IPO. After a long desert walk (it was down 90%) and I thought it was gone, they released the community app. and then the real app. to buy crypto.

It’s not anything revolutionary and still basic as of now, but they actually put in place several actions that put some value into their token.

I cashed in half of the gains now that I am 2000+% over initial investment. Now the dilemma is cash in the rest and might miss further upside, or hold and risk it to crash and burn.

Because, not matter what press, influencers and fintweet might say… this time is not different!

And by the way, the yield they offer for the crypto is made with a partner company that is based in British Virgin Islands (or some equivalent dodgy place). From what I understand you a placing your coins in their hands, so they can borrow it (who knows to whom). Even if Swissborg claims they have a burn protection program, I find all this very shaddy… It works well, until maybe it doesn’t.

3 Likes

After hearing about them in 2017, I didn’t understood what they had to offer and didn’t step in. Now I was looking to understand the DeFi and CeFi platform for personal interest and find out about SwissBorg app again. If I understand well they offer the same or similar services at BlockFi, Crypto.com, Celsius Network, Abra, Aave, Curve, DefiSaver and some more. They are centralized, it means you loose control of your coins as soon as it reach their wallet, like all centralized exchange.
I did create an account to have a look (and found out 1h later about the referral offer…), didn’t send found yet and not sure if I will and when.

I have already test to get some stablecoin (DAI from MakerDAO) and end up liquidated by a 1h local price drop in a middle of a bear run during my holiday and then I was never able to buy back below or even close to the liquidation price. Then I test liquidity provider in DEX, still didn’t made enough to cover the transactions fees of the process. So I’m cautious.

I’m still learning as much as possible on this business, I cannot believe the sustainability of these 10-20% PA advertised all over the place, even more if the money is invested in DeFi, were you struggle to get any significant gain as an individual but I can guess that with huge volume and automation to do arbritrage between the platforms you can get much better profit, but you are not alone to fight for these profits and in long term if fee are minimized on the user side, profit will be minimal on investor side as well. So I might try with a little but still not convinced to relay on such platform, even decentralized ones, to get a stable long term income, with luck you can profit a little for being still early in the space but then competition will be rough and profit back to be very close to just holding 2-3 of the main cryptocurrencies and waiting for your day of glory.

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