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What is Swan Bitcoin and how does it work?

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When someone wants to buy Bitcoin (BTC), they usually go the cryptocurrency exchange route. Newbies may buy BTC on any exchange they come across, while those with some kind of experience may choose a reputable one. Although this exercise does not pay off most exchanges operate almost identically as centralized entities, often acting as custodians of cryptocurrency assets for buyers.

The security factor is generally limited to passwords and Two-factor authentication (For buyers who choose to do so). Customer support, wallet support, and ease of use are other factors that buyers may consider when focusing on an exchange to buy Bitcoin.

The exchanges have a disadvantage when it comes to supporting customers who want to buy Bitcoin. With an array of cryptocurrencies on their platforms, it simply cannot be for them to focus exclusively on Bitcoin buyers. They lack Bitcoin experts who can optimally analyze how Bitcoin will appear in a buyer’s wallet, taking into account macro factors in crypto and mainstream economics along with the buyers’ financial situation.

The scenario illustrates the need for a Bitcoin-specific platform that not only enables anyone to purchase the first decentralized cryptocurrency but also provides them with expert advice and handholding. This is where Swan Bitcoin is ahead. As a bitcoin accumulator only platform, it caters to regular clients as well as high net worth individuals and companies. This article will help potential investors understand what Swan Bitcoin is and how it works.

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What is a Bitcoin Swann?

Swan Bitcoin helps a person to save value in Bitcoin, using a The dollar cost averaging method To stimulate saving over spending. For a fee, it allows buyers to register for one-time and repeat purchases of Bitcoin. It doesn’t make a difference when you buy either. Spread refers to the difference between the buy (bid) and sell (offer) prices of an asset.

To purchase Bitcoin, all users need to do is link their bank accounts to Prime Trust, an institutional-grade custodian that works with Swan Bitcoin. The platform allows users to automate the withdrawal of funds from their bank accounts to Swan accounts and also set a Bitcoin address to set up a withdrawal schedule. Users can also select any amount and time period.

Use the dollar cost average to buy bitcoin

Dollar cost averaging is a strategy of investing a fixed dollar amount at regular, predetermined intervals to spread out purchases and lower the average cost per share. This approach helps develop a disciplined investment habit and reduces costs.

An example will help the investor to better understand the dollar cost average. Let’s say one invests $500 every month. In a booming market, $500 will get you fewer cryptocurrencies, but when the market goes down, an investor can buy more cryptocurrencies with the same amount. The strategy can reduce the average cost per coin, compared to what one would have paid if they had bought all the cryptocurrencies at once when they were very expensive.

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To buy Bitcoin, one can consider waiting for an opportune moment when the price is low. However, at the moment, the market is practically not accessible to anyone. Alternatively, investors can choose daily, weekly or monthly savings to convert their dollars steadily into savings in Bitcoin.

How does Swan Bitcoin work?

Swan gives customers the freedom to automatically withdraw Bitcoin to their own self-booking address or place them with the platform’s institutional level custodian set up in their name. They can access Bitcoin at will.

Besides the consumer-centric facet, the platform also offers Swan Private to high net worth companies and individuals. One can seek expert advice regarding keeping Bitcoin in custody, buying a large amount of BTC or adding Bitcoin to a company’s balance sheet. Swan Private helps institutions and high net worth individuals build generational wealth with BTC.

Swan has experts on board with extensive experience in the Bitcoin ecosystem to help private clients put together a customized plan to save in BTC. Investors get to talk to a knowledgeable resource rather than an ignorant customer service person, as one is more likely to exchange emails with a less experienced professional.

Swan’s advisor services make it easy to integrate Bitcoin into clients’ portfolios, including reporting and rebalancing. Reporting provides users with a detailed overview of their accounts. Portfolio rebalancing refers to the realignment of the asset components within an investment portfolio to adjust the risks associated with them. Rebalancing involves buying or selling Bitcoin to reach a target level of asset allocation.

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Swan also offers a suite of open source products for Bitcoin custody and use, along with multi-signature software. Members can give Bitcoin to colleagues, friends and family as well.

How Swan helps “save” in Bitcoin

With their approach to giving away altcoins, Swan enables customers to “save” in Bitcoin rather than “trading” the cryptocurrency. Bitcoin is among the few digital assets in existence It is not considered safe But ownership is in the jurisdiction of the United States due to the fact that it does not raise capital and does not have a central marketing organization.

The decentralized nature of Bitcoin It became evident in 2017, when several BTC mining companies, mining equipment manufacturers, large exchanges, and a group of major Bitcoin developers joined hands. Change the size of the blockchain blockHowever, the globally distributed network of nodes thwarted their plans. Bitcoin has proven to be sufficiently decentralized and immutable in real world testing.

With Swan, one can set up a daily, weekly or monthly recurring purchase plan for Bitcoin. Most regulatory authorities regard such a plan as savings. After making purchases, investors can manually withdraw BTC or set up an automated withdrawal plan that transfers Bitcoin to their own wallet. They can also pause or cancel Swan plans any time they want.

Contrary to the mainstream approach to cryptocurrency investments, Swan is mindful bear markets Also. Most investors buy bitcoin with the hope that its price will continue to rise, which is simply not possible because bear markets will always be present. Taking into account bear markets helps flatten potential shocks when a currency is in a downward spiral.

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How Swan Bitcoin Reduces Expenses

As a type of savings account, Swan Bitcoin automates BTC buying and provides users with an easy-to-access, frictionless way to acquire Bitcoin. For a competitive fee, users can sign up for recurring Bitcoin purchases. Focusing exclusively on BTC, Swan is able to make buying Bitcoin easy and cut costs dramatically.

Swan published a dollar-cost averaging method to motivate Bitcoin overspending or selling. What Swan brings to the table is very different from regular exchanges that have to deal with a range of altcoins as well, which makes the process more complicated and increases the costs associated with it. Swan, as a platform for Bitcoin, is inherently designed to solve these problems.

As a Bitcoin-only platform, Swan does not have to do this Run a node to check for altcoins, unlike exchange, which enables it to get rid of expensive hardware, bandwidth, and human resource expenses and pass the benefits on to users. It is designed for long-term savings plans and users can save money on the fees they would normally incur when making a series of small Bitcoin purchases.

Multi-currency platforms must also run a huge compliance department. Having too many coins on one platform complicates the security situation, which none of the stakeholders can afford. All of these factors translate into higher trading fees. When one buys Bitcoin on an exchange, they are simply subsidizing these expenses for the exchange.

Is Swan Bitcoin safe?

The Bitcoin one he buys via Swan is located with the Prime Trust, which is famous for owning billions of dollars worth of cryptocurrency. This is in contrast to exchange-based buying where Bitcoin directly controls the exchange and not the user.

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Furthermore, the Bitcoin is stored in the Prime Trust under the user’s name, making the user the sole legal owner. The cryptocurrency lies offline cold storage wallets. To improve the security of accounts, Swan uses one-time passcodes that are emailed to the user instead of username and password registrations.

Even in the event of extreme Swan termination, users will still have legal control over the funds stored in the Prime Trust. Swan keeps minimum user data to be in compliance with regulations. It encrypts all of this data with military-grade AES-256 and traffic with industry standard TLSv1.2 encryption. Bitcoin and fiat transfer cannot happen without the permission of the users.