To perform an exchange in the SwissBorg app, simply follow these steps:
1. From the Portfolio screen, tap on "Exchange".
2. Select the crypto or fiat currency you want to exchange.
3. Select the crypto or fiat currency you would like to exchange it for. If you don't have funds in your account yet, please refer to this article to learn how to make a deposit.
4. Type the amount or select the % of your balance that 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.
5. After you tap “Next”, our innovative Smart Engine will calculate the optimal path to provide you with the best execution price. *The amount displayed is calculated based on the live rates, obtained from various exchanges. Before tapping on "Confirm", please make sure that all details are correct, because once you confirm there is no way to cancel the exchange.
6. After tapping on "Confirm", the exchange is executed and you'll see a confirmation screen that it was successful.
*Slide bar to the right for more screenshots
Of course we cannot fix the price, but we can guarantee the best execution for you. This is the reason that your final execution price might differ slightly from the indication that was given in the confirmation screen (step 5).
To execute an order, there are minimum and maximum amounts that need to be considered. These amounts can
vary per assets, and if the exchange you want to make is below the minimum or above the maximum amount, a pop-up will appear to inform you about this and to show you the minimum/maximum amount needed for this order.
Once an order (exchange/deposit/withdraw) is placed and executed on the blockchain, there is no way to cancel or reverse the transaction anymore. Orders may get rejected by the system due to insufficient funds, security risks or technical issues on the blockchain, but it is not possible to manually intervene with a processed transaction.