I am new to cryptos and this week I tried the SwissBorg app. I also happened to have tried Binance too, to have a point of comparison.
I think my opinion and the questions raised below could be useful for others. If I can get answers to some of them here, it would be great ! I have now about 100 euros in Swissborg and I don't really mind the risk of losing it all, I just wanted to try because it looked cool. Now I am a bit disappointed, see next. Otherwise the app is nice and it was easy to register.
**Bank transfer fees from Norwegian account**
First of all, I live in Norway and I transferred 600 NOK from my Norwegian account with bank transfer to my SwissBorg account. But 660 NOK was taken from my account and 600 NOK was added to the SwissBorg account. But 10% fee for a bank transfer is HUGE.
I don't understand what happened there and why I did not get any warning "there will be a 60 NOK fee, do you agree ?" . It will require 1 year of smart yield to compensate... If the rate of USDC smart yield keeps at about 10% per year for non-premium. I did not try EUR transfer yet, but I am interested to know what happened to others. Maybe the problem is only for NOK since Norway is outside the European Union (but NOT outside the economic area and the Schengen space… I did many transfer from my Norwegian NOK account to my French EUR bank and my Revolut account with only currency conversion fees, or no fee at all). So I do not recommend Swissborg for Norwegian users.
I must say that when I transferred from my NOK Norwegian account to Revolut or Degiro (for example), I did not have this problem, the amount withdrawn from my Norwegian bank account was exactly the amount credited to both.
For NOK transfer, the account to send the money to is in Estonia, and from a EUR transfer account, the account is in Malta, if I remember well. I don't have a strong opinion about it, but why ? I mean Estonia uses the EUR as well as Malta.
**Guarantees of funds ?**
I wonder if th...
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