25 bucks per month
They never told us
Anyone else use Swan?
Edit: I guess we can avoid the fee with auto withdrawal enabled. I guess I will find out in September
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25 bucks per month
They never told us
Anyone else use Swan?
Edit: I guess we can avoid the fee with auto withdrawal enabled. I guess I will find out in September
Hahahahah yup it’s true WTF swan! This is absolutely ridiculous
Imagine keeping 1 bitcoin on Swan😀
They have lost all credibility. Klippsten is a grifter.
Hahahaha
This is Swan Private access
Yeah but to avoid the fee you need to be a swan vault customer and turn on auto withdrawals or be swan private and open an IRA or have 1 BTC with them
I think they are desperate to raise revenues to command a higher valuation. They were trying to IPO right around the time they sued tether. Plus I got a feeling they are trying to compete with Unchained who clearly targets a higher net worth customer
They can’t compete with Unchained because it’s a completely different business imo
This must be for the Vault (multisig) product, which Unchained charges $250/yr for. Their original service is still free if you auto-withdraw, which is the only reason many went with Swan to begin with. They're bitcoin only and they encourage self-custody. Where did you clip that from?
App start up
Just updated iOS version and didn't see it. I'll definitely close my account if they start charging people without their knowledge.
I don't think Swan's a bad company. They've just made some bad decisions choosing partners, afaik.
They seem disorganized. Strategically what is their unique selling proposition?
Maybe I should ditch them for River and Strike?
I have never had a problem with River.
Occasionally I send messages to support at strike because of an exchange rate discrepancy. Once they double charged me for a single deposit. That took 10 days to resolve. Fortunately no major issues since
Very disorganized. They lost a lot of customers by fooling around.
apparently they sent an email with the new fee structure but I don't remember receiving this email in June or whenever
ChatGPT…
Yes — Swan’s own announcement says you can opt out of Swan Private entirely.
If you do nothing and stay in Swan Private after July 1, 2025, you will be charged $25/month, unless you meet one of the fee-waiver conditions (Swan IRA, Swan Vault, or ≥1 BTC in Swan Safe).
If you opt out:
• You drop down to the Swan Premium tier, which has no monthly platform fee.
• You’ll lose the dedicated advisor, priority support, and concierge-style service that Swan Private offers.
• Your core account features, custody, and purchase capabilities remain intact.
It is basically a downgrade from “white-glove” to “self-service,” but avoids the $25 monthly charge.
If you want, I can give you the exact steps in your Swan dashboard to switch from Private to Premium before the fee kicks in.
Yeah they are trying to sweep all customers into their swan vault product and charge you 3 basis points for holding your UTXOs for you. Guess it make sense I know most savvy bitcoiners wait to hit a certain UTXO threshold before withdrawing
The Swan Private access is bs. Apparently I signed up for it in July when I accepted new terms and conditions. Once a year swan 🦢 sends this email. I am very close to closing my account. Maybe I will do nothing. Maybe I will lock my account.
so many better options than swan
just dump them for any other exchange
Maybe I should play around with Kraken
River is Swan like
@BlokchainB
@siggy47
Swan banned me from withdrawing for some reason two years ago. I forget the details. I did finally manage to free my bitcoin. Then they stopped accepting NY resident accounts. A few months ago they sent me a friendly note saying that I could still buy bitcoin, but withdrawals are barred in my state.
I guess my account with zero balance still exists, but I will never use them again.
I saw this on Telegram:
Same shit I would be dealing with. They sent me a "please come back " email that said I could buy bitcoin and that they hoped they would let me withdraw it soon. I agree the bitlicense is bullshit, but don't insult me.
Can't blame you for that at all.
I know you have answered this question before. What are KYC options in NY? River? Kraken?
One thing I should have learned about Swan is ignore their calls to action such as signing their new rushed terms and conditions because their compliance team is playing catch up
I haven't checked for a while. It feels good to be out of that world. I think only coinbase and Gemini have a bit license.
This is what I got back in June:
But they don’t mention Swan Private which I accidentally opted into for 25 bucks per month
I must have ignored this email
Are you serious? Let me check my app