Crypto, fast & affordableBuy, sell, store and spend your crypto in South Africa from one easy platform. Enjoy low fees, no hidden margins and instant access to your funds 24/7. Open your account
High Crypto adoption in South Africa
Club Swan recognises that South African residents are dealing with a highly volatile and unstable economy. With the South African Rand (ZAR) having lost 17% of its value to the US dollar since start of the year (to 15th Oct 2020), we understand how important it it to preserve the value of your money while having instant access to your funds.
The United States Federal Reserve, responsible for setting monetary policy in the US, targets an inflation level of 2% pa. In contrast, The South African Reserve Bank, targets 4.5%. Simply put, if the US maintains inflation at 2% pa and South Africa maintains inflation at 4.5% pa the rand would potentially continue to depreciate further in real terms against the US dollar by 2.5% per year.
South Africans are one of the highest adopters of Bitcoin and other cryptocurrencies in the world with 10.7% of the population holding it. To put this into perspective, only 3.8% (Source FCA) of the UK population hold crypto. Perhaps this enthusiasm can be attributed to the fact that crypto is a quick and cost-efficient way to transfer money globally, or potentially a safer option to hold funds, especially with experts predicting the Rand could hit R21 to $1 USD within a year.
Club Swan’s Crypto solution.
Club Swan has one simple platform for all of your traditional and crypto currency needs. The platform also integrates with a vast range of concierge services saving you time, money and enhances your lifestyle. Club Swan has nine cryptocurrency wallets allowing you to buy, sell and store your funds. You can sell your crypto for traditional currencies e.g. Bitcoin to USD or GBP, EUR, CNY, JPY. To date, we have changed over $1bn of crypto to traditional currencies on our platform.
Our flexable platform allows you to:
- Buy, sell and store nine of the most popular cryptocurrencies
- One simple buy and sell rate with no hidden fees built into the prices
- Sell your crypto for traditional currencies within the platform
- Quick and easy wallet to wallet transfer to anywhere in the world
We are 100% transparent with our fees (0.5% to a maximum of 3%) depending on your type of membership. This means that if you buy or sell Bitcoin, Ethereum, Tether, or any of the nine cryptocurrencies, this will be the only fee you pay. Furthermore, we do not hide margin within the currency spreads. We offer one simple low rate for buying or selling currencies within our platform, at rates often better than many exchanges.
Stablecoins: crypto without market volatility
What are stablecoins?
Cryptocurrencies can be volatile with wide price movements in both positive and negative territories. To address this, and to give peace of mind to our members, we have added stablecoins to our portfolio. Club Swan offers three different stablecoins (USDT, USDC and PAX). These stablecoins are all pegged to the value of the US dollar and as such, are not subject to the wide fluctuations we see in regular cryptocurrencies or the Rand. Although stablecoins can be pegged to many different assets, e.g. government bonds, metals, algorithms etc, all Club Swan stablecoins follow the movements of the US dollar and should always be on a 1 to 1 basis i.e. 1 USDT = $1.
Why use stablecoins?
Stablecoins allow you to quickly change traditional currencies to crypto without losing value. While all exchanges permit crypto to crypto transactions, very few allow you to change crypto directly to traditional currencies. Stablecoins allow you transfer funds between different exchange platforms quickly and at lower costs than traditional (swift) bank transfers.
Stablecoins through Club Swan
Club Swan stablecoins all have slightly different protocols, but essentially they are all a form of tokenised traditional USD currency, hence holding the same value. Stablecoins can also serve as a substitute for cash payments in transactions to buy or sell other goods or to send assets around the world quickly and cheaply.
Seamlessly spend your crypto
Holding funds in different currencies to boost your purchasing power, requires a platform that bridges the gap between digital and traditional currencies. Your Club Swan account facilitates this with access to all currencies, allowing you to seamlessly spend your crypto with the Club Swan card.
The Club Swan card features:
- Spend 150+ currencies anywhere in the world
- $15,000 (~R245,000) transaction limit
- $1,500 (~R24,500) per day ATM withdrawal
- Exhibit your limited edition Aluminium or Stainless Steel metal card
Can I transfer crypto to other people, wallets and exchanges?
Yes, transactions between Club Swan members are free for Premier, VIP and Chairman memberships. You can send your cryptocurrencies and stablecoins to any exchange or external wallet anywhere in the world almost instantly. All you need is the wallet address. If you need to send money to someone who does not have a crypto wallet, you can convert your crypro to a traditional currency and make the transfer.
Are crypto purchases instant?
Yes, the purchace goes through almost instantly. You can use money in your Club Swan account to purchase any of the nine cryptocurrencies or any traditional currencies. If you are buying currency with crypto using an external exchange, you need to transfer the crypto into your corresponding Club Swan cryptocurrency wallet that then can be used to buy any of the nine crypto or any traditional currency within the portal.
Can I change my crypto into traditional currency?
Yes, we have executed transactions worth over $1 bn to date. You can change your crypto currencies into any of the five traditional currency wallets (USD, EYU, GBP, CNY, JPY) held within Club Swan. All crypto and traditional currency transactions are within one platform for ease of use and the transaction is executed instanly. You can also spend these funds with your Club Swan debit card in South Africa or anywhere around the word.
What is the maximum fee I will pay when buying crypto through Club Swan?
The amount you pay depends on your membership level. Our membership level fees start at 0.5% for Chairman, 1% for VIP, 2% for Premier and 3% for Starter members. For example, If you purchased $1,000 of Bitcoin, a starter would only pay $30 in fees. Premier members would pay $20, VIP members would pay $10 and a Chairman members would pay $5.
Can I spend my crypto with the Club Swan card?
Yes, you can change your cryptocurrency to any of our five traditional currencies (USD, GBP, EUR,CNY, JPY) within the portal. You can load the funds onto your card account and spend the money all around the world anywhere Mastercard is accepted. You can spend the funds in over 150 different currencies in any retail or service outlet that accepts Mastercard.