SwissBorg adds 5th exchange to Smart Engine!

We are thrilled to share that we have added a new exchange to the SwissBorg Smart Engine - Bitfinex!

Bitfinex will be the fifth crypto exchange to be added to our Smart Engine, alongside Binance, HitBTC, LMAX and Kraken, and the first new crypto exchange we’ve added since we launched the SwissBorg app in March 2020. This will open up more order routes and deeper liquidity for our users, allowing them to make larger exchanges faster for even better rates.

What is the Smart Engine?

At SwissBorg, our mission has always been to democratise wealth management by making investing in cryptocurrencies accessible to all. 

Unfortunately, historically crypto investing was not accessible in the past - new investors had to search multiple exchanges to find the best price for their cryptos, and often had to exchange between multiple assets to invest in those cryptos, which is both time consuming and expensive.

This is where the Smart Engine comes in. The Smart Engine is our order management system, or the system that allows users to exchange between different fiat and crypto assets in the SwissBorg app.

What makes the Smart Engine different to other exchanges is that it is a metaexchange, and scans multiple exchanges on every trade to ensure our users are getting their cryptos at the best price. 

Think of it as the Skyscanner for cryptos. If you were booking a flight, you could go directly to your preferred airline, or you could go to an aggregator like Skyscanner, which will review multiple websites for your planned route and propose the best options.’

In crypto, you can check multiple exchanges to find the best rate for your exchange, or you can use the Smart Engine in the SwissBorg app, which automatically scans Binance, HitBTC, LMAX and Kraken on every exchange to make your trade at the best price.

Beyond the price benefits, the other benefit of the Smart Engine is being able to trade directly between any assets in the SwissBorg app. If you’ve tried trading on other exchanges, you might have noticed that you need to take multiple steps to invest in the asset you want. For example, if you want to buy CHSB with CHF, you might first need to exchange your CHF for USD, then exchange your USD for BTC, and then exchange your BTC for CHSB. 

The Smart Engine takes care of this for you in a single step, so you can exchange any of the 15 fiat currencies in the SwissBorg app to any of the 17 cryptos in seconds.

So why are we so excited about adding Bitfinex to the Smart Engine? Keep reading to find out!

Why Bitfinex?

Bitfinex is a tier 1 exchange that offers its users high liquidity and minimal slippage on some of our favourite crypto assets, including Bitcoin, Ethereum, Tether, and now CHSB! 

Adding Bitfinex to the Smart Engine will lead to more liquidity for users of the SwissBorg app, resulting in better prices when you buy and sell your crypto.

Bitfinex’s orderbook also benefits from robust technology, which will mean more stability for our users during volatile periods, which are some of the most sought-after investing opportunities.