SwissBorg is a mobile application to buy cryptocurrency, but it is also a premium service offering exclusive features. Like the "Smart Yield" the enhanced "Stacking" service in the SwissBorg way. The premium is relatively expensive, but it allows access to futuristic features and especially the abolition of transaction fees.
What is Stacking?
Staking is the process of holding funds in a crypto wallet to support the operations of a blockchain network. Basically, it involves locking up one's crypto assets to receive rewards. -Binance Research
Often, crypto projects use staking as a method to encourage users to become savers, while participating in the operation of the blockchain. The primary interest for users is of course profit. Historically, staking rewards have been tied to cryptocurrencies with some volatility and this can be risky for the investor. However, new assets are accessible and staking is becoming more common on stablecoins, those non-volatile currencies.
What is Smart Yield?
SwissBorg's Smart Yield is the ability to generate a return on your crypto balance. Simply choose the amount of an eligible asset (USDC, ETH, BTC) you wish to place in your Smart Yield account, and it will start earning daily interest. The Smart Yield system connects to the most robust financial solutions both centrally and decentrally to create a highly beneficial yield program.
You can of course take advantage of Smart Yield on your standard SwissBorg account, however to access the best rates of return, you will need to upgrade to premium.
The SwissBorg premium
To become premium, all you have to do is hold the required amount of CHSB for 12 months. This simply means that the chips are still in your account, but you cannot redeem or withdraw them for the first 12 months. After 12 months, you must keep your CHSBs locked to remain Premium, but you will be free to trade or withdraw your CHSBs and return to a standard account.
Let's take the example of a user wanting to become premium at SwissBorg. He can become Community Premium by investing €2,000 in CHSB (the cryptocurrency created by SwissBorg). The user will be rewarded with 6.44% return on his CHSB investment for one year. On top of that, the user will be able to stack USDC with a rate of 11.43%, ETH with a rate of 5.43% and BTC with a rate of 4.13%. Also, when trading in cryptocurrencies, the user will enjoy 0.25% less fees compared to standard users.
The withdrawal fee from the SwissBorg platform unfortunately remains unchanged at 0.10%, whether you are a standard or premium user.
If the user definitely does not want to pay any more fees on these transactions, he will have to switch to Genesis Premium and stack the equivalent of €50,000 of CHSB on his SwissBorg account for one year.
Community Premium arrived in May 2021, which will surely promote a wider adoption of its protocol. Thanks to a relevant and rich offer, between optimized market place and generous smart yields, the Swiss firm has already managed to become one of the favorite applications of crypto lovers and high yields.
To become premium at SwissBorg, you need to fund your account in CHSB, you can find our article on how to buy cryptocurrency on SwissBorg.
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