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Swan Bitcoin review 2023
By Frank Corva
- Fiat currencies
- 1
- Supported assets
- 1
This is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Our verdict
Swan Bitcoin is a Bitcoin-only exchange, which lets you buy Bitcoin with USD for low fees. Here's our review.
Swan Bitcoin provides a service that streamlines Bitcoin investing, but it offers very little else. You can get your fiat into Swan Bitcoin, buy Bitcoin inexpensively and withdraw your Bitcoin in a very efficient manner – saving on time and fees. You aren’t going to get much else from Swan Bitcoin, but Bitcoin purchasing will be optimized.
Swan Bitcoin is a secure and trusted platform that provides automated Bitcoin purchasing at very competitive rates and on automated withdrawals of your Bitcoin. It also offers great customer service. Swan Bitcoin does not offer access to other cryptocurrencies or any trading or earning opportunities on your Bitcoin.
Pros
- Trade with multiple fiat currencies. Swan Bitcoin allows you to trade with USD.
- Deposit and withdraw USD directly to your bank account in the US. With Swan Bitcoin you can deposit cash from your American bank account and cash out back into the same account.
- Supports a range of payment methods. Swan Bitcoin supports several popular payment methods including USD deposits via Bank transfer, Wire transfer, Osko and SEPA.
Cons
- Only 1 cryptocurrencies supported. Swan Bitcoin supports a smaller variety of assets than some of its competitors. This isn't necessarily a bad thing, but if you're looking for a large range of altcoins you may want to compare other platforms.
- No live chat or phone-based customer support. Swan Bitcoin does not have a live customer support service. Instead you will need to consult the FAQ or contact Swan Bitcoin via email, which may take several days to receive a reply.
- No mobile app available. Swan Bitcoin does not have a dedicated mobile app. You can still use the platform on your phone, but the experience may not be as smooth as other platforms that have smartphone apps.
Details
Product details
| Product Name | Swan Bitcoin |
| Fiat Currencies | USD |
| Cryptocurrencies | BTC |
| Deposit Methods |
Bank transfer Cryptocurrency Wire transfer Osko SEPA SWIFT |
| Trading Fee | Free |
| Deposit Fees | Free |
| Withdrawal Fees | Free |
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Finder Score
★★★★★Listed Swan Bitcoin crypto exchange assets
Swan Bitcoin supports 1 cryptocurrency, but some notable assets are missing. Namely, Ethereum, Tether and BNB, which are in the top 20 cryptos by market cap. In total, 1 of the top 20 cryptos are available on Swan Bitcoin.
Popular assets on Swan Bitcoin supports
Bitcoin (BTC) does not support
Ethereum (ETH) does not support
Tether (USDT) does not support
BNB (BNB) does not support
XRP (XRP) does not support
Solana (SOL) does not support
USDC (USDC) does not support
Lido Staked Ether (STETH) does not support
Cardano (ADA) does not support
Dogecoin (DOGE) does not support
TRON (TRX) does not support
Toncoin (TON) does not support
Chainlink (LINK) does not support
Avalanche (AVAX) does not support
Polkadot (DOT) does not support
Polygon (MATIC) does not support
Wrapped Bitcoin (WBTC) does not support
Dai (DAI) does not support
Litecoin (LTC) does not support
Shiba Inu (SHIB)Swan Bitcoin fees
Swan Bitcoin charges a fee for free deposits.
Swan Bitcoin deposit methods
- Bank transfer
- Cryptocurrency
- Wire transfer
- Osko
- SEPA
- SWIFT
How to sign up on Swan Bitcoin exchange
Before you can even get started trading on Swan Bitcoin, you have to go through the rigorous verification process (which usually involves proof of identification). This can take quite a long time. The reason for this is Swan Bitcoin's commitment to certifications, and compliance with regulations and insurers.
- Get started
After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your Swan Bitcoin account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on Swan Bitcoin.
Is Swan Bitcoin safe?
Swan Bitcoin does not take direct custody of your Bitcoin. Instead, it outsources custody of your Bitcoin to Prime Trust, which follows secure digital asset storage best practices.
Past hacks
There have been no major hacks to the Swan Bitcoin platform.
Security audits
Swan has no history of security audits of its own platform because it outsources custody to Prime Trust. Prime Trust is a financial infrastructure fintech company that undergoes regular auditing. Prime Trust stores its Bitcoin in offline cold storage wallets using best-in-class security practices and technologies.
Insurance
Swan Bitcoin doesn’t maintain a fund to insure against loss of Bitcoin, but US dollars are FDIC insured. Its standard deposit insurance coverage limit is $250,000.
Keeping your crypto secure
All centralized exchanges, including Swan Bitcoin, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,456+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $219 |
Price (USD) $49.99 |
See more of the best crypto wallets
Swan Bitcoin customer support
Swan Bitcoin’s customer service is quick and efficient. The “contact us” form can be accessed via the chat help button that hovers in the bottom-right corner. The FAQ section of its website is filled with answers to many relevant questions.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
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