Interest fee

Mobile crypto platform, SwissBorg, announces environmental and fee reduction plans

The first mobile crypto platform, SwissBorg, held its annual meeting on Tuesday evening where it distributed a limited number of commemorative NFTs via Enjin and explained what it is working on. Although it announced several new ways to allow users to earn interest on their crypto holdings, two things that particularly stood out were the plans to waive fees for peer-to-peer payments between SwissBorg users. and to neutralize the carbon part of the platform. emissions.

On the first point, the SwissBorg team said that all supported crypto assets will be able to be sent to other SwissBorg users without incurring gas fees and other charges. Fees for both Ethereum and Bitcoin have been a huge pain in recent years as demand for cryptos has increased, as has the cost of transferring them between wallets. Once SwissBorg introduces these free P2P transfers, people will be able to keep more of their money and the platform should be more beginner-friendly.

Screenshots of the SwissBorg keynote

During the keynote, the SwissBorg team emphasized democratization. As it stands, you need to make a bank transfer if you want to load your SwissBorg account with fiat to trade cryptocurrencies. The team announced that debit and credit cards will soon be added as payment options to top up accounts and that this integration will include 3D secure verification to protect users – 3D secure verification means you will need to validate all attempts of transactions.

Screenshots of the SwissBorg keynote

Another main feature of SwissBorg is Smart Yielding, basically you can start a yield subscription with any of the supported cryptos you hold to earn interest daily. So far, cryptos that support Smart Yield include Bitcoin, Ethereum, SwissBorg, USD Coin, Binance Coin, Tether USD, Ripple, Polygon, and Tether EUR. During the announcement, the team said more would be added soon, including Aave, Aavegotchi, Curve DAO Token, and Dai. Additionally, the way users will be able to invest their crypto will change to give people more control over the level of risk and rewards.

Screenshots of the SwissBorg keynote

SwissBorg has also said it wants to clean up the emissions it is responsible for in the crypto world, to do so it will use Renewable Energy Certificates (RECs) to neutralize the 17,500 MWh consumed by its internal SwissBorg token (CHSB), then he wants to get into green bitcoin mining in the European Union and later in other regions. Finally, it will neutralize emissions from other cryptos traded on its platform via RECs and tree planting.

Screenshots of the SwissBorg keynote

With all the new buzzwords coming out of the crypto space on an almost monthly basis, it’s a bit difficult to keep track of what’s going on. For cryptocurrencies and the services they provide, such as Smart Yielding, to succeed, the products must be easy to use. It will be interesting to see in the future if the changes described above make crypto more accessible.