Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Swan Bitcoin PayOff

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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%.

Swan Bitcoin withdrawals

FAQ

Do I need to pay taxes with Swan Bitcoin?

Yes, Swan Bitcoin charges taxes.

How do I deposit Bitcoins into Swan?

To deposit Bitcoins into Swan, when completing an online form, enter the amount purchased, select the date acquired, and point out the label for personal use. After getting a Bitcoin deposit address, copy-paste it into a wallet or third-party custodian. You need to request them to send the funds to the Swan deposit address. When a transaction is confirmed, your funds will show up in the Swan Bitcoin account. Consider that only Swan Private customers can deposit Bitcoins into Swan Bitcoin.

Can I change my Bitcoin withdrawal address?

Yes, to do that, you will need to go to Dashboard and scroll down to the lower blue section. Click on the white box that shows your current withdrawal address name. A pop-up screen will direct you to enter the new withdrawal address and a pet name or some mnemonic. The last step implies confirming that change in your browser or over email.

Financial products
Swan Bitcoin
Buying, selling and holding Bitcoin
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

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