When you purchase Bitcoin through Swan, your Bitcoin is stored by BitGo, a licensed and regulated trust company chartered in the United States. BitGo secures billions of dollars worth of fiat and cryptocurrency for some of the biggest companies in the industry.
Your Bitcoin and USD are stored under your name with BitGo, with you as the sole legal owner. Your Bitcoin is stored using best-in-class security practices and technologies.
BitGo cannot rehypothecate your Bitcoin, and Swan itself cannot move your funds without your authorization. Swan also has full on-chain visibility all of our customer's assets. In order to ensure that Swan cannot move Bitcoin out of your account, you will receive a direct confirmation of withdrawal from our custodian whenever you withdraw your Bitcoin. This email is delivered directly from our custodian and requires your authorization to move Bitcoin from our custodial wallets to your own.
Read more here to learn about Bitcoin custody risk and how you can assess it.
When you are ready to self-custody and reduce your counterparty risk, please read here.
If you are a Swan Private client and need assistance setting up your wallet, please reach out to your Swan Private representative.