- Official Website: https://www.swanbitcoin.com/
- HQ: Los Angeles, CA with a partnership with Prime Trust, located in Nevada
- Buy bitcoin with recurring purchases on schedule
- Licensed and regulated (a USA based company)
Swanbitcoin is not like your traditional exchange in that you’re not going to go there and peruse the different buying options for different types of crypto. Instead, Swanbitcoin offers you one type. Bitcoin.
Now, the average person is more than welcome to go to Swanbitcoin and buy themselves some bitcoin, but that’s not really the model that Swanbitcoin is truly after. Rather, the idea is for the user, (you) to open a Swanbitcoin account and make bitcoin purchases on a recurring basis almost on a “set-it-and-forget-it” program which is automatically transferred to the wallet of your choice.
The user is able to set up a purchasing program for investing starting at $10 per day, (you are also able to choose week, month purchases). The largest recurring purchase is currently $1428 per day, or $10,000 for both weekly and monthly purchases. If one is looking to do a one-time bitcoin purchase, Swanbitcoin will accept wire transfers up to $10 million USD.
It is also possible to set up an account to invest in your IRA, Roth, or 401k. Depositing and investing on behalf of a company can be done as well.
Thoughts on Swanbitcoin
Almost a two weeks ago (longer now) I opened an account at Swanbitcoin going with a low recurring investment amount to test out the service. In that time I have watched $70.00 be taken from one of my bank accounts via a weekly transfer and get turned into $10.00 of bitcoin daily. My deposits versus my value have gone up just a little bit with the value of bitcoin. 7.85% to be exact at the time I first drafted this review.
If you have the need or the feeling to buy yourself a good chunk of bitcoin with the hopes of it’s value rising, this is not the way to do it. For that you would be better off visiting one of the fiat exchanges and buying from their trading platform. May we recommend Coinbase, Gemini, Kraken, or Binance. You really cannot go wrong with any of those choices.
Swan is for people looking to buy small bits of bitcoin over time with an automated purchases on a schedule. This is for the users that are looking for a longer investment, perhaps ones that can make bitcoin purchases without really noticing the money is gone while slowly building your stash of bitcoin up over time. This is for those people who want to buy on a schedule but are too busy or not disciplined enough to do so robot-like on their own. Swan does it for you.
As for the company itself, there are no complaints coming from this direction. I set up my account just the way I like it and Swanbitcoin has just been going along doing their thing and doing exactly what they said they would. As long as this continues, Swan bitcoin may really be on to something here, providing a legit service to people like me who slowly want to accumulate bitcoin.
Pros & Cons
Types of Verification
Government ID and “selfie” required. During this process you will not only be uploading a selfie, but a “live” one at that. What this means is that you will be taking your cell phone and taking a live selfie while moving your head in the direction that the app will ask of you.
Swanbitcoin will automatically transfer your bitcoin to your wallet of choice at your predetermined intervals.
If you would really like to cash out before this time for any reason, you are more than welcome to do so. Once again, this will just be going to the wallet of your choice which you should have already set up.