The world is beginning to wake up to the fact that 0.1% annual interest rates just aren’t going to cut it anymore. The full spectrum of young, old, tech-savvy or computer illiterate, are all searching for new opportunities to put their hard-earned income to work.
These opportunities are abundant in the cryptocurrency space and this has never been more available thanks to the emergence of DeFi. As with all new technologies, it can often be confusing and the barrier to entry can sometimes be too high for the average user.
Some folks just want to be able to seamlessly deposit their funds, sit back, relax and safely watch their crypto work for them… so what is the solution?
SwissBorg is a one-stop-shop solution for buying, selling, holding and staking your cryptocurrency and letting them earn some impressive yields. Oh, and best of all, it is all done through a slick and simple mobile app.
The SwissBorg team have truly removed the confusion, broke down the barrier to entry and given over 360,000 verified users access to the returns that they have been searching for.
With the Staking Rewards Calculator, you can estimate your annual return on multiple different cryptocurrencies using the SwissBorg platform.
Before we start, let’s take a look at how the rewards are generated.
CHSB is the native token on the SwissBorg app. The token itself is at the heart of the ecosystem and comes with lots of cool features including increased staking rewards, reduced trading fees within the app, early access to new features, governance voting rights to holders and entrance into the community rewards program.
Users who hold CHSB inside the app can deposit it into the CHSB yield wallet. This is known as staking.
Once staked, users will receive daily rewards in the form of more CHSB tokens which are currently up to 8.8% annually!
There are 3 tiers within the app Standard, Community Premium and Genesis Premium which look like this.
As you would expect, the more CHSB you stake the better returns and more perks within the SwissBorg app.
The yield is calculated from the SwissBorg Community Index which takes into account multiple different parameters and generates a variable yield that is updated on a weekly basis.
Factors such as SwissBorg app volume, CHSB token score, SwissBorg app activity, community app score and DAO/social media score all play a part in generating the weekly yield.
In short, the better each of these factors performs the higher the weekly yield.
More on this can be found in our Staking Rewards Review.
Let’s take a look at how to start earning yield on CHSB using the SwissBorg app.
- SwissBorg app on ios or Android.
- Mobile banking app from the list of supported countries
- Identification for KYC
How to stake CHSB
Note: You will have to go through the KYC process so be sure to have your identification documents ready.
Next, you will need to deposit funds from your bank account in your local currency onto the app.
To do simply click “deposit”.
This will bring up your SwissBorg account details. Depending on your location and the local currency, you may be offered the faster payments option.
Whatever deposit options you have, follow the same process.
Head to your internet banking app or website and simply copy each of your SwissBorg account details.
This is the same as if you were sending money to a friend, family or a local business you trust.
Simple insert the Beneficiary, their account details and be sure to put your specific reference number in. This is key.
To ensure you are entering the correct details simply tap each detail and this will copy it to your clipboard on your mobile device.
Then you can paste the information using your mobile banking app. Using this function prevents any misspelt information from being inputted.
You will receive a notification following your funds arriving in your SwissBorg account.
Using faster payments, this was almost instant.
With your newly deposited fiat, you can now select which cryptocurrency you want to buy within the app. To continue with our tutorial we will choose CHSB, but if there are other cryptos you are looking to purchase and/or stake, the same process will apply.
So, scroll down and select CHSB.
From here, it couldn’t be easier, simply select “Buy SwissBorg”.
Input the amount of CHSB you wish to buy and click next.
Tip: If you wish to see the CHSB amount you can tap the CHSB button next to GBP to toggle between the two.
Ensure you are happy with the exchange rate and fee, then select “confirm exchange”.
This is where the SwissBorg app really excels. Their smart exchange will scan all the top exchanges to find you the best rate and execute the buy instantly.
For more information on the route your funds took, you can hit the arrow following the transaction.
Step 8 – Select “Finish” and your newly bought CHSB will be held in the in-app wallet.
Within the portfolio tab, you will see your CHSB holdings. Click on CHSB to see the options.
From here, you can select “Earn Yield”.
This will open your “Yield Wallet”, select “start now”.
Type in the amount of CHSB you want to stake and earn yield from, read and approve the terms and then select “subscribe”.
Once you have hit subscribe, you will see your CHSB Yield Wallet balance. After 24 hours you will begin to see your yield rewards.
Note: You can top up your deposit to earn more yield or withdraw your CHSB using the redeem button.
As discussed above, for additional rewards and reduced trading fees you can stake 2,000 or 50,000 CHSB for 12 months to be eligible for Community Premium or Genesis Premium rewards, respectively.
Sit back and enjoy the frictionless and passive yield being generated via the SwissBorg app.
It is important to note that SwissBorg offers staking on lots of other cryptocurrencies which can be found below.
Again, these are very impressive yields. You can purchase the below cryptocurrencies through the app or deposit them from your existing holdings.
From being a highly active DeFi user, I have to say honestly that the SwissBorg app is absolutely seamless. The whole process was fast, efficient and super simple. I can see why over 360,000 verified users utilise this app for their staking rewards.
The only issue I would have with the app is that the premium tier is 50,000 CHSB but, I suppose it is premium for a reason.
To combat this, the team have recently released the Community Premium tier, which allows users of all CHSB balances, to benefit from staking rewards within the app.
All in all, for those who want passive income, excellent yields without the hassle, the SwissBorg app is one of the best platforms I have used out there.