When someone wants to buy Bitcoin (BTC), they usually take the route of a cryptocurrency exchange. Newbies may buy BTC on just any exchange they come
When someone wants to buy Bitcoin (BTC), they usually take the route of a cryptocurrency exchange. Newbies may buy BTC on just any exchange they come across, while those with some sort of experience may opt for a reputable one. The exercise though bears little fruit as most exchanges function almost identically as centralized entities, often working as custodians of the crypto assets of the buyers.
The security factor is generally limited to passwords and 2-factor authentication (for the buyers who have opted for it). Customer support, wallet support and ease of use are other factors that buyers might consider when zeroing in on an exchange to buy Bitcoin.
Exchanges have a drawback when it comes to supporting customers who want to buy Bitcoin. With an array of digital coins on their platforms, it is simply not possible for them to focus exclusively on Bitcoin buyers. They lack Bitcoin experts who could analyze how Bitcoin should optimally feature in the portfolio of the buyer, factoring in macro factors in crypto and mainstream economy along with buyers’ own financial status.
The scenario pronounces the need for a Bitcoin-specific platform that would not only enable anyone to buy the first decentralized cryptocurrency but also provide them with expert advice and hand-holding. This is where Swan Bitcoin rolls in. As a Bitcoin-only accumulation platform, it caters to regular customers as well as high-net-worth individuals and businesses. This article will help potential investors understand what Swan Bitcoin is and how it works.
What is Swan Bitcoin
Swan Bitcoin helps one save value in Bitcoin, using the method of dollar-cost averaging to incentivize saving over spending. In return for a fee, it allows buyers to sign up for both one-time and recurring Bitcoin purchases. It doesn’t take a spread on the purchase, as well. A spread refers to the difference between the buy (offer) and sell (bid) prices of an asset.
To buy Bitcoin, all users need to do is connect their bank accounts with Prime Trust, an institutional-grade custodian working with Swan Bitcoin. The platform enables users to automate the withdrawal of funds from their bank accounts to Swan accounts and assign a Bitcoin address as well to set up a withdrawal schedule. The users may also select any amount and time period.
Using dollar-cost averaging in buying Bitcoin
Dollar-cost averaging is a strategy of investing a fixed dollar amount at predetermined regular intervals to spread out purchases and bring down the average cost of each share. The approach helps in developing a disciplined investing habit and brings down the costs.
An example will help an investor understand dollar-cost averaging better. Suppose one invests $500 every month. In a buoyant market, $500 will get fewer cryptocurrency, but when the market goes down, an investor can buy more cryptocurrency with the same amount. The strategy could pare down the average cost per coin, compared with what one would have ended up paying if they had bought all the cryptocurrency in one go when they were more expensive.
For purchasing Bitcoin, one could think of waiting for an opportune moment when the price is low. However, to time the market is practically not possible for anyone. Rather, investors could opt for daily, weekly or monthly savings to steadily transform their dollars into savings in Bitcoin.
How Swan Bitcoin works
Swan puts customers at liberty to auto-withdraw Bitcoin to its own self-custody address or places it with the platform’s institutional-grade custodian set up in their own name. They can access Bitcoin at will.
Along with the consumer-focused face, the platform also offers Swan Private for high-net-worth businesses and individuals. One could seek expert advice regarding keeping Bitcoin in custody, buy a large amount of BTC or add Bitcoin to a company balance sheet. Swan Private helps enterprises and high-net-worth individuals build generational wealth with BTC.
Swan has on-board experts with extensive experience in the Bitcoin ecosystem to assist private clients in making a customized plan for saving in BTC. Investors get to talk to a knowledgeable resource rather than a clueless customer service, where one is more likely to exchange emails with a less experienced professional.
Adviser services of Swan facilitate the integration of Bitcoin into client 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 associated risks. Rebalancing involves buying or selling Bitcoin to reach the target level of asset allocation.
Swan also brings along an open-source product suite for Bitcoin custody and usage, along with multisignature software. The members can give Bitcoin to colleagues, friends and family as well.
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