Swan is a bitcoin only exchange that allows you to purchase bitcoin so how can they be such a widely used exchange if they only allow you to buy bitcoin and not sell it with them i'm darren recently a swan user and in this video i'm going to review swann bitcoin it'sFeatures fees how you can get started who is it right for and at the end i'm going to show you how you can get 10 in free bitcoin for getting started it is a unique service it's not really an exchange it's more of an otc brokerage so the selling points of swanIs that it is really easy to set up recurring buys you don't even have to press any of the buttons you just set it up once and forget it when purchasing large amounts you have that support of swan private so you're not just yoloing into an exchange based in singapore with150 000 wire that you have no idea if they have a support team or not they have free withdrawals of bitcoin and even pay the network fees this is pretty rare as a lot of exchanges do not offer this they allow corporations entities trusts to purchase bitcoin and they areBitcoin only which means they don't waste any resources time on any of the other coins tokens out there in which recently we saw you know ust just take an absolute dive along with luna and exchanges out there that list them have resources with them have to do brandRecovery stop trading so it's really a lot of liability when you work with other coins now to get started on swan bitcoin it is all done through your email and make sure your email is secure because for some reason there is no passwords on swan bitcoin when you logIn they will just give you a code directly to your email to access your account so do not use an email from when you are you know eight years old and have a four digit password because this is the way to get in it there's no passwords on swan bitcoin they have toFollow kyc aml rules so you're gonna have to give your id and your information this is all you upload all of this yourself and then wait for approval if you're good with that did all those steps you're ready to get started so logging into the dashboard this is a new account for meThat i just created for this video so this is your bitcoin section this is what is currently available this is your total purchases overtime etc now the first thing we need to do is deposit money to purchase bitcoin number one question you shouldAsk is your bank in the usa if it is you should set up to connect your bank with swann or you can send an ach if you have an international account you need to set up a wire it gives you all of the directions to do so for achs there is aClearing time of 10 days so you cannot purchase bitcoin until your money hits the account after 10 days push ach gives the ability for you to purchase after 24 hours for wires they can only accept usd so if you have an international account you have to convert your moneyInto usd before wiring it into swan there is a 250 minimum and your funds are available 24 hours after a wire once our money is in there we're going to be moving on to purchasing bitcoin and the first thing they walk you through is what's called the savings plan so thisIs an option where you can set up a recurring dollar cost averaging into bitcoin once your funds are cleared you can set up a purchase of bitcoin either daily monthly or weekly it'll automatically default to the weekly purchase but you can also buy bitcoin instantly so you don't have to followThis specific timeline so once you've purchased it you'll see it on your purchase bitcoin there will be another section for your cleared bitcoin available to be withdrawn unfortunately you have to wait 24 hours to withdraw your bitcoin after a purchase this is one of the negatives with swan theySay it is due to fraud because achs have a window of dispute that is longer than anything else like a wire transfer when they are sending a hard asset like bitcoin there's no way to get it back but in the financial world you can argue and get your money back soThey're really just covering themselves here and taking on less risk scrolling down you'll see a gifting section this is kind of a cool feature that i don't really see in other exchanges so if you ever thought about how do i gift bitcoin well the minimum you canGift is 21 dollars and the maximum is 9 900 recipient has to have a different email and be a different person than you if they do not already have a swan account it will have an email prompt where they can log in and then sign up to a swan account and acceptTheir gift if they do have a swan account it will automatically be in there within the next day or so so if you want to withdraw your bitcoin into your own wallet you can create a threshold to withdraw it weekly monthly whatever you want because if your dollarCost averaging you don't want to go in there and do it manually all the time you can have it do it automatically they do have instant withdrawal so you can go in there and withdraw any time you want however again it is 24 hours after you've made a purchase that you canWithdraw it you can put in your address and all of your withdrawals will go to that address or another recommended way would be putting in an x-pub this changes all of your addresses each time swan sends it to you so any chain analysis company would have a harderTime connecting it back to you so on bitcoin has a lot of good rapports for accounting purposes tax purposes um all very easily accessible for download now the fees on swan when you purchase they take point nine nine percent which is almost one percent of everything andThat is on all purchases so if you deposited a hundred thousand dollars to purchase bitcoin you will receive ninety nine thousand dollars in bitcoin back now this is a little bit more expensive than those large worldwide shitkohen exchanges like finance gemini or coinbase but it is aLot cheaper than atms cash app venmo or many otc brokerages so it kind of puts it in the middle of that but the fees for withdrawing your bitcoin are zero and they even pay the network fee many exchanges will have a fee on top of the network fee to withdraw your bitcoinSo that's always good you get to keep more bitcoin when it comes into your own wallet if you like what you saw here you can get started with swan um you get 10 in bitcoin for getting started so that's it with swam bitcoin it makes it simpleEasy to set it and forget it there's not much to go wrong on the app very intuitive very easy to use you're not gonna be falling into other coins other trading leverage situations pretty disappointing to see all the wait times for withdrawals on the app but swann isReally for a bitcoiner who has conviction in bitcoin for the future and is in no rush to trade market swings number one because you can't sell on swan and number two as you do have to wait to withdrawal to your own wallet it's really ideal for anyone with a u.sBank account ach in to connect your bank account and make daily purchases or someone who wants to purchase large amounts of bitcoin via wire transfer now if i was trying to buy bitcoin via wire transfer with usd swan would be the place that i would go to doIt again you can get started by using my link below and see if it's right for you let me know if you've had any experience with swan questions i'll help answer them for you and thanks for watching