After each purchase, your Bitcoin is being held at a licensed and regulated Nevada-charted trust company, Prime Trust, in your name, with you as the sole legal owner. If you have never withdrawn Bitcoin, your Bitcoin resides in Prime Trust's cold storage wallets for extra security.
As soon as you decide to withdraw Bitcoin for the first time, your Bitcoin is sent to a hot-wallet at Prime Trust. That transition is processed manually and may take up to 48 hours. Thereafter, your Bitcoin is stored in hot wallets, so any succeeding withdrawal can be processed instantly.
When you confirm these Bitcoin withdrawals, the transaction is broadcast to the network at a fee rate that should get the transaction included in the next few Bitcoin blocks. Thus, your Bitcoin should be sent to your wallet within the next hour.
You are not required to withdraw your Bitcoin to your own wallet, but we do highly recommend learning how to use a Bitcoin wallet and withdrawing your coins for maximum security. If you're not comfortable setting up a wallet, take your time and do your research on wallets.
Bitcoin withdrawals are free of charge for Swan customers. Your Bitcoin can be withdrawn immediately after purchase unless it is locked due to a high value plan.
We are auto-locking large trades funded by wires for your protection, to prevent unauthorized withdrawals of large amounts of Bitcoin. The locks enable our support team to review each withdrawal request for you as a service, and optionally ask for face verification. You can always request an immediate unlock via support for all purchases funded with wires. We will soon have a policy on your account that allows you to opt-in or opt-out of auto-locking if you like
You may withdraw from Swan to any standard Bitcoin public address type. Your addresses can begin with a "1", a "3", or Native SegWit addresses that start with "bc1."