How to make withdrawals?
There are two ways to withdraw money from Swan Bitcoin's account: manual or auto.
In order to withdraw Bitcoin from Swan manually, users have to:
- Set up two-factor authentication for an account on the Swan Bitcoin web page;
- Acquire a Bitcoin wallet;
- Save an address from your Bitcoin wallet to Swan Bitcoin. Go to Swan dashboard and scroll down to the withdrawal section. Click the "Withdraw Now";
- Select "Connect Single Address". Enter wallet information. Then click "Receive Bitcoin" or "Deposit Bitcoin";
- Confirm the address via the 6-digit code;
- Navigate to Swan's home screen and initiate a new withdrawal;
- Confirm the email from Prime Trust within 24 hours. If the withdrawal lapses, trigger another withdrawal from your Dashboard by selecting the "Resend Verification" button in Swan's withdrawal history section.
To make an auto withdrawal:
- Navigate to Swan Bitcoin's Dashboard and scroll down to the withdrawal section, then past your transaction list. Find the auto withdrawal setup;
- Choose how often to withdraw your Bitcoin;
- Choose the wallet address to get your Bitcoin.
Fees and penalties
Compared to other companies, Swan Bitcoin charges no inactivity, withdrawal, overdraft, custody, or trading fees. Nonetheless, the purchase fee makes up 99%. If wire settles into Swan Bitcoin as USD and customers prepay annually to buy at least $50 per week or $5,000 per year, Swan has a 0.99% fee. Purchasing Bitcoin under this threshold incurs fees ranging from 1.19% to 2.29%.
