If you are keeping up with the advancements in cryptocurrency then you might have come across the term SwissBorg. But before adding this option to your crypto-related activities it’s better to know all the ins and outs of SwissBorg.
This detailed guide offers a complete breakdown of the key aspects of SwissBorg exchange. With a better understanding and background knowledge, you will be in a better position to decide whether to pursue it in more depth or not.
SwissBorg is a dynamic wealth management program that delivers unique tools and features for managing cryptocurrency trades efficiently. The purpose of this exchange is to offer a lower learning curve, assisting traders to navigate a popular and new financial field of cryptocurrencies.
What is SwissBorg?
This exchange was introduced by Anthony Lesoismer and Cyrus Fazel. In 2017, they raised a capital of $53 million to back the project and then launched during the 2017 cryptocurrency rally. The headquarters of this platform is based in Switzerland while its team works from all around the globe. It comprises of a multi-cultural and multi-disciplinary team from over 20 different countries.
SwissBorg is a first-of-a-kind blockchain-based secure wealth management platform for cryptocurrency trading. It simplifies the entire trading process in cryptocurrencies by integrating with the major cryptocurrency exchanges, and by featuring a community-based ownership model.
What Makes SwissBorg Unique?
At the time of devising SwissBorg, its founders thought that the current banking system was obsolete, and they designed this platform as the best possible solution to that problem. They implemented blockchain technology in personal finance, giving traders complete control over their financial investments and portfolios. This platform is based on blockchain decentralization to make sure that user data is secure, and traders can control their funds without any restrictions.
Private Wealth Management
In the past few months, the private SwissBorg wealth management industry has evolved significantly against the increasing affluence around the globe. In the United States alone, the number of millionaires has doubled since 2010, following the same trend around the rest of the world, particularly in China and other emerging economies.
Another factor that is playing a key role in driving growth in affluence and the need for private wealth management is the decentralized finance revolution and cryptocurrency. Eventually, this results in making millionaires out of many more people.
The traditional wealth management industry has not developed much despite the urgent need for wealth management to become more transparent and accessible to all. A private wealth management platform like SwissBorg is considered Fintech private wealth management as it is based on blockchain.
SwissBorg (CHSB) Coins
The utility token used on the SwissBorg platform has the ticker CHSB. It is an ERC-20 token. In the time of the initial coin offering (ICO), SwissBorg issued the maximum supply of 1 billion CHSB tokens. As all these CHSB tokens were released, that means the total circulation of SwissBorg tokens is also 1 billion. The recent circulating supply is just shy of that number at 933 million.
Approx. 38% of all CHBS tokens were assigned to community sales. Nearly 10% of the total supply was given to strategic investors, while another 15% was dedicated to the second round of funding for the project. Whereas another 20% of these tokens were distributed among the team as a reward for creating the platform. Finally, SwissBorg distributed about 14% of its remaining CHBS tokens to experienced traders, who approached already and stated their interest in the project.
Network Security of SwissBorg
With the increased digitization the threat of cybercrimes has also increased and because of that SwissBorg realizes the risks presented by hackers, thus it puts network security of user’s funds and wealth platforms as a top priority. It has invested a huge amount of money to devise and implement top-notch security practices such as platform stress tests, MPC cryptography, and the instigation of advanced security software. As a result, the platform is strong, stable, and remains protected from both bugs and hackers, assuring user funds and investments are always secure.
SwissBorg has evolved to be fully compliant with all the standardized frameworks for over 115 countries that can enjoy the benefits of Wealth App. This means traders can take part in cryptocurrency trading without worrying about the legality of their actions. Taking it all together, it appears that the SwissBorg wealth management platform is meeting the mission of the project in making cryptocurrency wealth management accessible and easy to use. Moreover, traders still tend to invest given the huge price surge seen in the CHSB token in 2020. If SwissBorg continues achieving the determined objectives, then this could result as one of the foundational blockchain projects that will continue to set the pace for wealth management in the future.