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    Swan Bitcoin Review 2022: Features, Fees & Limits

    Updated: Nov 10th, 2022
    Kevin Groves
    Kevin Groves
    Swan Bitcoin Review 2022: Features, Fees & Limits

    Swan Bitcoin is a top online cryptocurrency exchange that is like a traditional bank savings account. It allows users to set up recurring purchases to convert USD into Bitcoin regularly. Swan Bitcoin seeks to make it easy for people to invest in Bitcoin (BTC) using a dollar-cost averaging strategy. The exchange believes Bitcoin to be “the best savings vehicle that exists” and has built a platform to deliver on this vision and capitalize on a surge in the value of Bitcoin in the next few years.

    Swan Bitcoin is a suitable exchange for beginners that offers a place to learn about the latest topics on Bitcoin, as well as a way to set up personalized recurring purchases of Bitcoin with little hassle. These features make it an attractive option for investors interested in dabbling in the cryptocurrency space without having to do any active trading themselves. This review will dive into the features and abilities of Swan Bitcoin’s platform, as well as what to expect when choosing to invest in Bitcoin on the platform for the first time.

    Swan Bitcoin
    Trading Fees:1.19% - 2.29%
    Country:United States
    Currency:USD
    Promotion:None available at this time
    Key Features
    • Great option in the USA for recurring Bitcoin purchases
    • Competitive buying and selling fees
    • Automatically buy Bitcoin at the best price
    • Coins held by Prime Trust, a reliable holding company
    • FDIC insurance coverage for USD
    • Swan Private offers personalized investment coaching
    • Entity purchasing available to hold stock in an IRA, Roth, 401k, or trust fund
    • Purchases of up to $10 million enabled with no annual limit

    Swan Bitcoin makes it relatively simple for new investors to get their feet wet in crypto savings, and is available to residents of the U.S., UK, Australia, Mexico, Germany, France, and many other countries. This exchange seeks to make Bitcoin investment accessible for newcomers by removing many of the barriers to entry, such as large fees and complex processes in finding the right investment opportunity.

    Swan Bitcoin’s application is only available online. The company is working to produce dedicated iOS and Android apps as well. Upon creating an account and verifying identity, Swan Bitcoin is a safe place to invest in Bitcoin without all of the complexity of an advanced trading platform.

    Ease of useStarStarStarStarEmpty Star
    ReputationStarStarStarStarEmpty Star
    Deposit methodsStarStarStarEmpty StarEmpty Star
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    This post contains affiliate links with our partners who may compensate us. Read our disclaimer for further information.

    What Is Swan Bitcoin?

    Swan Bitcoin is a stable and trustworthy Bitcoin exchange that was established in 2019 and is headquartered in Los Angeles, California. The exchange is geared for beginner investors to convert USD into Bitcoin. Swan Bitcoin has refrained from supporting altcoins and therefore does not have a wide selection of cryptocurrencies available. A regulated exchange in the US, Swan Bitcoin is a premium exchange with a different business model that focuses on recurring Bitcoin purchases with US Dollars (USD).

    Swan Bitcoin websiteSwan Bitcoin websiteSwan Bitcoin website.

    Quick Overview

    Exchange NameSwan Bitcoin
    Fiat CurrencyUS Dollars
    CryptocurrencyBitcoin only
    SupportedMarketsSpot trading
    Deposit MethodBank transfer (ACH), wire transfer, DCA
    Trading Fees1.19% - 2.29% (one-off purchases)
    Mobile AppNo

    Is Swan Bitcoin Regulated?

    Swan Bitcoin relies on a third party for regulation-compliance practices and storage of its users’ coins. Swan Bitcoin is partnered with the Nevada chartered Prime Trust, which has reliably secured both fiat and cryptocurrencies for some of the biggest names in the industry. Prime Trust ensures reliable protection of assets such as fiat currencies, as well as for cryptocurrencies, and holds an ISO/IEC 27001:2013 certification.

    What Are The Pros & Cons?

    Using Swan Bitcoin will bring with it certain advantages over other exchanges, but this platform also falls short in certain ways. It is always best to look at the best and worst things about each option before deciding about where to spend US dollars. Swan Bitcoin’s main draws lie in the ability to take away much of the guesswork for new crypto investors by allowing them to schedule recurring payments and allowing the application to determine the best time to buy.

    Additionally, Swan Private offers personalized Bitcoin coaching to high-net-worth individuals and enables users to hold Bitcoin in their IRA, Roth, 401k, or trust fund. Exact pricing for Swan Private is not available, but with a market leaning towards high-net-worth individuals, it is assumed availability is reserved for those with large deposit amounts. In addition to personalized coaching, additional incentives for Swan Private include private group sessions and insights about the crypto market.

    Swan Bitcoin Pros:
    • Bitcoin only exchange that is regulated in the United States
    • Easy-to-use exchange for beginner investors
    • Offers recurring and automatic exchange of USD to BTC upon creation of an account
    • Competitive fees at 0.99% per transaction
    • Funds and coins are held by a trusted organization with insurance
    Swan Bitcoin Cons:
    • Lack of diversity in terms of supported cryptocurrency assets
    • Limited deposit methods with ACH transfers only
    • US dollars is the only fiat currency supported
    • Does not offer a wide range of features such as margin trading, staking or NFTs
    • No mobile app to buy Bitcoin

    The main disadvantage of Swan Bitcoin is expensive fees between 1.19% and 2.29% for individual purchases. Moreover, there are limited payment methods with ACH transfers that are the only option to deposit USD. Swan Bitcoin is also a U.S-focused exchange, making it more difficult for users without U.S, bank accounts to add funds and transfer money into their accounts.

    Furthermore, Swan Bitcoin supports USD to Bitcoin transactions only, limiting the diversity of assets that users can experience in one place. If U.S. residents are looking to steadily accrue savings in Bitcoin, Swan might be a good option for them. However, if users are looking for diversity and more control over their crypto portfolios, they may prefer another exchange.

    Swan Bitcoin Compared

    Swan Bitcoin is different from other exchanges as it focuses on a single type of cryptocurrency and supports only USD as fiat currency. Swan Bitcoin also boasts the lowest fees for recurring buys in the United States, however, for one-off purchases the fees are quite high. Furthermore, Swan Bitcoin charges users no withdrawal fees. Swan’s biggest offerings are its ability to accumulate Bitcoin passively to build up an investment portfolio. These well-known exchanges are regulated in the USA and offers a greater range of products and features.

    ExchangeCrypto AssetsTrading FeesRatingPromotionWebsiteReview
    Coinbase Logo

    Coinbase

    250+0.5%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.7/5
    StarStarStarStarEmpty Star
    $5 BTC bonus (USA only)Visit CoinbaseCoinbase Review
    ftx us logo

    FTX.US

    60+0.1% / 0.4%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.6/5
    StarStarStarStarEmpty Star
    5% off trading feesVisit FTX.USFTX.US Review
    eToro

    eToro

    70+1%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.6/5
    StarStarStarStarEmpty Star
    None available at this timeVisit eToro

    eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Archived, "Virtual currencies are highly volatile. Your capital is at risk."

    eToro Review

    Top Features on Swan Bitcoin

    Recurring Investments

    Swan Bitcoin seeks to automate and maximize the potential for Bitcoin investors. These recurring payments allow users to choose the right amount of investment and the frequency. Users get the choice between making weekly, bi-weekly, or monthly payments into the platform. The advantage of dollar-cost averaging is the long-term strategy that hedges against price volatility and price swings. It also removes the emotion out of trading and encourages a buy and hold mentality which can end up being more profitable in a trending market. Over time, the Bitcoin investment cost price averages out and allows the buyer to make steady gains in the long term.

    Swan Bitcoin DCA featuresSwan Bitcoin DCA featuresFeatures available on Swan Bitcoin such as recurring purchases.

    Beginner-Friendly

    Swan Bitcoin is a suitable exchange for individuals that do not have significant trading or investing experience. The saving plan options takes the stress out of investing which is made simple using an easy-to-use platform without complicated charting or advanced orders. While there isn't a dedicated mobile app available, the exchange is designed with a set-and-forget model for investors to gradually build a Bitcoin stack.

    Bitcoin Gifts

    Swan Bitcoin allows users to purchase and share Bitcoin with others through their application. By sending a gift to another user, Swan will walk them through the process of creating an account and convert the dollar value of the gift into Bitcoin.

    Active Support

    Swan Bitcoin offers consistent support across multiple communication platforms. Swan Bitcoin’s support team is reachable through email or phone. Users can also submit a ticket, with a promise to solve your issue within 24 hours. Swan Bitcoin has been frequently praised for its responsive and concise support system with many users who have experienced problems leaving great reviews and praising Swan Bitcoin for their understanding and solving their problems promptly.

    Is Swan Bitcoin Safe?

    Swan Bitcoin is a safe place to purchase and acquire Bitcoin that uses industry-standard security measures to protect customer funds and information using an encrypted database and Two-Factor Authentication (2FA). Swan Bitcoin is partnered with Prime Trust to manage customer funds in offline cold wallets and comes with a standard insurance coverage limit of $250,000 per depositor. The advantage of this arrangement is that the exchange must obtain confirmation from each user to transfer their funds.

    Swan Bitcoin Verification Requirements

    Swan Bitcoin is a regulated exchange that has a mandatory Know Your Customer (KYC) process as per international anti-money-laundering (AML) and counter-terrorism financing (CTF) laws.

    Before being able to deposit funds, users must complete the identity verification process which takes around 10-15 minutes to complete. The approval of the submitted documents takes about 5 minutes. There are instances where it has taken up to 7 business days excluding public holidays and weekends.

    Funding & Limits

    Upon creation of an account and approval of identity verification, users with valid U.S. bank accounts can connect their accounts to begin the process of acquiring Bitcoin using ACH. Users outside the U.S. have the option to place funds into their accounts with an international bank account that supports wire transfers. Swan Bitcoin is prepared for investments of all sizes, offering a specialized service for individuals or businesses that seek to purchase larger volumes of Bitcoin.

    Purchase MethodMinimum AmountMaximum Amount
    Buy Instantly$100$10,000 per trade or $50,000 per day
    Recurring Buys$10$1,428 per day, $10,000 per week and month
    Covert Now$10$50,000 per tranche

    Swan Bitcoin does impose a minimum buy limit that is $10 (recurring buy) or $100 (instant buy) depending on the purchase method. There is a maximum limit of up to $50,000 per day for instant purchases of Bitcoin. Users can choose to instantly convert their stored fiat currency into Bitcoin rather than waiting for the best moment to buy in maximum chunks of $50,000 at a time. For higher limits, there is the option of Swan Private that allows one-time purchases up to $10 million with no annual limit.

    Supported Coins

    Swan Bitcoin is an exchange with a specific focus on helping individuals to acquire and hold Bitcoin only like a savings account. Rather than offering various trades on options and futures, Swan simply offers the ability to exchange USD for Bitcoin, either through instant purchases or recurring payments. As such, Bitcoin is the only supported coin that can be acquired through Swan’s application. Users that prefer to diversify a cryptocurrency investment portfolio will therefore need to use another platform to obtain altcoins which is a negative.

    Using Swan Bitcoin

    Swan Bitcoin’s focus is on recurring buys and the user interface has been purpose-designed that simplifies the buying Bitcoin process for beginners. The user is not confronted with a complex trading platform, charts and technical indicators. Instead, the user can simply purchase a recurring plan and make changes as necessary on a mobile-optimized interface.

    Users can see their purchase history and the current funds in their account, view the amount of Bitcoin they have earned, edit their savings plan and purchase Bitcoin instantly either for themselves or as gifts for others all in one place. The only downside with using Swan Bitcoin is there is no mobile app offered. This is a major limitation as it prevents individuals from quickly making a 1-off Bitcoin purchase from their phone while on the go.

    Swan Bitcoin Fees

    Swan Bitcoin charges differing fees that depend on the purchase method and the amount. Fees are lower if users choose to prepay their purchases annually. Prepaid purchases of small amounts, such as $10, would incur a 1.99% fee, while larger purchases, such as $50 and up, would only suffer a 0.99% fee.

    Fees are higher for more spur-of-the-moment transactions. If a user does not prepay their purchases, the same $10 purchase has a 2.29% fee on each recurring buy and a 1.19% fee on $50 or higher amount. When compared to other exchanges in the USA, the fees on Swan Bitcoin are high and do not offer great-value-for-money. In contrast, a user could purchase Bitcoin on Coinbase that has a maximum 0.5% trading fee and also reduces with higher monthly volumes.

    Swan Bitcoin trading feesSwan Bitcoin trading feesSwan Bitcoin trading fees for pre-paid (annually) and one-off purchases.

    Security Of Assets

    Swan Bitcoin partners with Prime Trust to ensure the security of its users’ assets with a standard insurance coverage limit of $250,000 per depositor. Prime Trust holds any Bitcoin acquired through Swan in each users’ name within secure cold storage wallets until transferred to an external wallet. Swan Bitcoin’s policies ensure that the exchange cannot access the coins placed into a user's account with Prime Trust.

    Moreover, whenever a withdrawal is requested the users will receive a direct confirmation from Prime Trust themselves rather than only going through Swan Bitcoin. That is, Swan Bitcoin cannot move a customer's Bitcoin without authorization. Once received, the user must approve the transaction for Bitcoin to be moved out of their Prime Trust account. For more information, read the Security page on the website.

    Accepted Countries

    Swan Bitcoin serves a majority of countries, including the U.S. and UK, Australia, Spain, South Africa, and more. Unfortunately, Swan is currently unable to accept new users whose residence is in the state of New York. Swan Bitcoin does not serve users in countries such as:

    Frequently Asked Questions

    The maximum purchase on Swan Bitcoin varies by purchase method. Instant buys are capped to $50,000 per day at the highest level. Limits on recurring purchases vary by purchase period.

    Swan Bitcoin is available in all U.S. States, but cannot currently accept new users whose residence is based in New York. For availability in other countries, view Swan Bitcoin’s extensive list of supported and restricted countries.

    Swan Bitcoin offers a more personalized service for larger organizations and high net-worth investors who are seeking to acquire Bitcoin. Swan Private gives these users more direct access to Bitcoin guides, as well as ready guidance and support for their Bitcoin ventures.

    Swan Bitcoin does not currently offer a mobile app that is dedicated for iOS and Android applications. While the website is optimized for mobile devices, the user-experience is challenging to navigate. The website does state a mobile app is coming in 2021, however, has not been released at the time of writing.

    Final Verdict

    Swan Bitcoin is a great place for new or experienced crypto traders to go all-in on Bitcoin, however, this platform may not be ideal for those who wish to diversify their portfolios or spend large amounts. For investors that want to automatically purchase Bitcoin only using an easy-to-use platform, Swan Bitcoin is a great option

    In short, Swan Bitcoin is a safe and easy way to acquire Bitcoin by regularly converting a set amount of earnings into Bitcoin with recurring purchases. For purchasing large amounts, the high fees may start to add up and a lower-fee exchange should be considered that offers better value-for-money.

    How We Rated Swan Bitcoin

    HedgewithCrypto strives to provide independent, factual and unbiased reviews of cryptocurrency exchanges and trading platforms to help readers make an informed decision about picking the right crypto exchange. The review process includes examining the website and external sources, creating and funding an account, demonstrating and experiencing the features of the platform and calculating an overall weight-average rating.

    A rating between poor (1 star) and best (5 stars) with 0.1 increments is given. For further information on the criteria and categories that are evaluated, read our rating process.

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    Kevin GrovesKevin GrovesKevin Groves

    Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. In 2019, he started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.

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