To perform an exchange you need to follow these steps:
1. Go to the Portfolio tab and click on Exchange
2. Select the Crypto/Fiat you want to exchange
and what you would like to exchange it with
If you don't have funds in your account yet, please refer to this article to learn how to make a deposit
3. Type or select the amount you wish to exchange
The number in grey is an estimate based on the Mid price, which is an indicative rate. The mid price is the average of the Best Bid and Ask*
4. After you click “Next” the Smart Engine will calculate the optimal path to provide you the best execution price
The amount displayed is calculated based on the live rate obtain form the different exchanges and is constantly obtained**.
Before clicking "Confirm Exchange", please make sure that all the information is correct, because once you confirm there is no way to cancel the exchange.
5. After the exchange, you will find all the details of the execution: the path taken, the rate at every step, the date, the service fee
SwissBorg is one of the few crypto wealth management solutions that offer full transparency on the execution. For more information about the smart exchange report, please check this article.
Of course we cannot fix the price, but we can guarantee the best execution. This is the reason why your execution price might differ slightly from indication given in the confirmation screen (step 4.)
*The Bid price represents the maximum price that a buyer is willing to pay, the Ask price represents the minimum price that a seller is willing to take and the Mid price is the average between the Bid and Ask prices.
This Mid price is used throughout the SwissBorg app, to calculate the value of your portfolio, the draw the charts.
** the amount displayed in confirmation screen (4.) will always be lower than the one given in the estimate screen (3.) because in the confirmation screen we use the best bid/ask and not the mid-price.
Example:
-
You want to sell 1000 CHSB;
Bid = 0.038$ Ask = 0.042$ => Mid =0.040$- In the estimate screen you will see: 1000 CHSB ~> 40$ (1000 x 0.040$ / Mid price)
- In the confirmation screen you will see: 1000 CHSB ~> 38$ (1000 x 0.038$ / Bid price - price the buyer is willing to pay)
-
You want to buy 1000 CHSB;
Bid = 0.038$ Ask = 0.042$ => Mid = 0.040- In the estimate screen you will see: 1000 CHSB ~> 40$ (1000 x 0.040$ / Mid price)
- In the confirmation screen you will see: 1000 CHSB ~> 42$ (1000 x 0.042$ / Ask price - price the seller is willing to take)
To execute an order, there are minimum and maximum amounts of assets that need to be considered.
Minimum amounts: 5 USD / EUR / GDP / CAD or the equivalent of it in digital assets or CHSB tokens;
Maximum amounts: 20’000 USD / EUR / GDP / CAD or the equivalent of it in digital assets or 5000 CHSB Tokens.
If you have any questions regarding the SwissBorg app, please make sure to check out the other articles here in our Help Center; we cover all aspects of the application, from basic functionality to legal matters and security related topics.
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