As of today (Mon 18 Sep 23), we will be updating exchange fees for standard users to 1.49%. Exchange fees for Premium users will remain the same. We understand that changes like these can raise questions, so we want to provide you with a clear understanding of why this adjustment makes sense and how it benefits you and the entire community.
Mapping the crypto world in 2023
In 2022, after FTX, Celsius, Voyager and many other exchange collapses, we learned the hard way that apps can look the same but the backbone on which they are built actually matter the most. Pump & Dump, market manipulation, listing of scam tokens or usage of users' funds for proprietary trading, It was definitely the Cryptos’ darkest hours.
Ever since, the gap between regulated and non-regulated crypto entities has been widening, and it's showing no signs of slowing down. Regulatory authorities all over the globe are ramping up the pressure and requirements and we do not anticipate this trend to stop or fade. We clearly see two schools of thought: “grow fast and break rules” or “grow steady and get things done right”.
SwissBorg has always aimed to make the crypto journey fun, fair & community-centric for individuals from diverse backgrounds. We've been at the forefront of innovation, while never compromising on compliance. Right from the start, we've been committed to transparency about fees and have designed a range of offerings tailored to everyone, from beginners to advanced traders through Premium offering.
This is the map of the world as we seeing it today:
Fees vs Spread
Grasping the distinction between "fees" and "spread" is vital when evaluating exchange rates. While lower fees might appear attractive, they can conceal hidden spreads, where traders receive subpar rates and the exchange platform profits from the gap.
At SwissBorg, our Smart Engine connects to multiple exchanges to find you the best rates on the market, with no hidden fees, no spread, and full transparency on the price of each trade made.
Investing in Your Future
First and foremost, the fee update allows us to reinvest in growing the SwissBorg ecosystem. Every additional penny will be directed towards the continuation of enhancing the platform's offerings, improving your experience, and expanding our services. We're committed to ensuring that you have access to a robust and evolving suite of tools and features that cater to your needs as a digital asset enthusiast.
Keeping You Secure and Compliant
Regulations play a crucial role in the financial world, and we're dedicated to keeping pace with the latest standards. The fee adjustment enables us to allocate more resources to ensure that SwissBorg remains fully compliant with the ever-changing regulatory landscape. This commitment to regulatory adherence translates into a more secure and transparent environment for you to explore and invest in digital assets with confidence.
Fostering a Culture of Innovation
We understand that staying ahead of the curve is essential in the fast-paced world of digital assets. The updated fees empower us to continue our culture of innovation. We aim to bring you exciting new features, tools, and opportunities that keep you engaged and informed. Our goal is to ensure that SwissBorg remains at the forefront of the industry, delivering value that aligns with your evolving needs.
Nurturing the Community
As we grow and evolve, so does the SwissBorg community. The fee adjustment enables us to invest in educational initiatives that empower you with the knowledge needed to make informed decisions. We believe that education is key to unlocking the full potential of digital assets, and by providing you with valuable insights and resources, we're contributing to the collective growth of the community.
Premium tiers
The SwissBorg token (CHSB) will always sit at the heart of our ecosystem, and we encourage our community to hold CHSB to access certain benefits. As such, it's important to remember that when you lock CHSB you can start to benefit from lower fees and a higher yield. For example, by locking 500 CHSB (US$65 at the time of writing) for 12 months to upgrade to an Explorer Premium, you can experience 1% exchange fees and boost your yield earnings by 25%.
Conclusion
At SwissBorg, our mission is to provide you with a safe, innovative, and user-friendly platform for exploring and investing in digital assets. The fee adjustment from 1% to 1.49% is a reflection of our commitment to your success and the success of the broader digital asset community. With these additional resources, we'll reinvest in growing the ecosystem, ensuring regulatory compliance, and fueling innovation to bring you an even better SwissBorg experience. Thank you for being a part of our journey, and we're excited to continue building a brighter future together.
