The Bitcoin Benefit Plan is a simple yet effective way for employers to share the future of money with their teams. This is achieved by setting up a monthly benefit for your employees and sending Bitcoin straight to their Swan account with every pay cycle.
Employees will also receive a 5-week educational journey, ensuring they are looked after and provided with the information they need in order to understand the importance of Bitcoin.
We welcome both employers and employees to join the Swan community where you’ll find leading education and exceptional Swan service.
What is a fringe benefit? (US Employees & US Employers)
A fringe benefit is a form of pay (including property, services, cash or cash equivalent) in addition to stated pay for the performance of services. "Under Internal Revenue Code (IRC) Section 61, all income is taxable unless an exclusion applies.”
Is there a minimum I need to send?
Yes, the minimum amount is $20 per employee, per month. This is in line with Swan’s minimum purchase amounts.
How do I setup a Bitcoin Benefit Plan?
Head over to https://swan.com/benefit to get started with your Bitcoin Benefit Plan.
How do I add and remove employees from my BBP?
If you would like to add or remove employees from your Bitcoin Benefit Plan, simply contact mailto:firstname.lastname@example.org explaining the changes you would like to make.
How do I fund my account?
You will receive a funding email 10 days prior to your plan date with a line-by-line breakdown and information on whether or not your account has sufficient funds to cover the plan. If not, you will need to top up your entity account by wiring funds equivalent to the amount highlighted in your funding email.
Why do I need to KYC?
Swan collects information that is required to open a trust account at Prime Trust, our custodial partner. Prime Trust is a licensed and regulated Trust company located in the United States.
Your ID is verified by a third-party system called Persona and may be stored for up to 60 days following your verification. It is subsequently redacted.
Our ID verification system makes sure that you are who you say you are and helps us make sure that no one impersonates you to steal your identity, banking information, or your Bitcoin.
How can I buy more Bitcoin?
You can buy more Bitcoin from your personal Swan account providing you have a payment method setup.
Can I withdraw my Bitcoin to self custody?
I was signed up under a work email, can I change it to my personal email?