Category Archive : Blogs

Purpose of business bank account

Are you going to start your own business? Are you willing to start the freelance work? The problem comes in selection of bank account type. Many people are confused about selection of either personal bank account or business bank account. In this article, we are going to explain to you that who needs a business account for finance management.

Working for yourself or for company.

If you are working as a sole trader of the business, then you don’t need a business account. Swissblock personal account will work fine. If you own a LTD or LLC company, it’s better sign up for business account in order to fulfill the emerging needs of business and cash settlements.

Also some of the sole traders dealing with multiple sectors need business bank account. So we will suggest that if you want to sign up for it than just go for it. Because business bank accounts are easy to create, free and a great way to deal with finances. Also for the tax settlements, it makes it easy to calculate the tax numbers.

Easy setup of business bank accounts

First, you need to look for the business bank account providers that give you free setup and good plans. Initial setup as per swissblock business bank account should be free. If your business grow, you can upgrade it to premium features with minimal fees but it should be free for the start.

Also keep this thing in mind that if the business bank account is not working for you than you can simply close it and move on. There is no reason to stick to it without getting any benefit.

Types of finances

There are two types of financial transactions basically: Money inflow and money outflow.

Money inflow

Always encourage your customers to pay you in your business bank account rather than sending money in personal bank account. Also comply some invoice matching software with your account like Quickbooks intuit. This will give you clear idea about the money inflow by customers.

Swissblock also gives you the complete detailed money management and invoices reconciliation through simple clicks without any headache of buying some paid softwares.

Money outflow

It is preferred to use Business bank account while sending money from bank account. Business bank account comes with mastercard or visa from where you can easily spend money.

You can be able to classify your business expenses in one place and this gives you clear idea about money outflow and taxation. Its easy to get distracted and confused if you use same account for all personal and business transactions. That is why by setting up a business account you can learn and get idea about your finances much better.

Taxation on business bank account

If you proceed all your transactions through business bank account, then you its easy to file tax at the end of the year because you will know the actual money in and out from your account and the earned profit. It is also advisable to keep a certain amount of profit in account in order to cope with the taxes.

Sign up today on swissblock and get detailed idea on business bank account and much more.


Swissblock july updates with amazing digital banking features

Digital banking is need of the hour because swift and easy payments is basic necessity of ecommerce and online dealings. This july we have updated our systems and introduced new exciting features to ease money transfers and online dealings. July updates are packed up with more products and service upgradations that will escalate your day to day banking.

Are you ready? Let’s dive in and get the idea of new digital banking features

Invest your idle cash in crypto through easy and in app conversions

Are you ready to explore a new frontier of business and want to invest the idle cash? Meet crypto and invest in your favourite currency by simple clicks. Swissblock exchange provides you with long lasting and easy crypto investment approach that is helpful in transferring funds and buying crypto through fiat without involving any third party.

The account owner just need to unlock the crypto features without any hectic KYC.

Cryptocurrencies are volatile and the price can go lower too. Trade at your own risk and avoid trading without strategy.

Fast payments by upgradation of system and card management

By swissblock, payments can be processed in 5 seconds with 24/7 support and low fee. Also now you can search cards in ‘cards’ section buy just putting the card holder name or last digits of the card. Apply filters and bulk actions and enjoy the ease of searching cards.

We just rolled in the improvements in card management and details. Now see the apple pay and google pay details easily and clearly. Just click the card details and copy them. We told you, it’s easier than ever.

That’s all for now. These are the updates for the July month. We will meet you after a month for more updates and products that will help in digital banking.

What are altcoins and why are they important?

So we have learned about cryptocurrency and its basics. You can find that blog by clicking here. Now we are moving towards Altcoins and its importance. You must have heard about cryptocurrencies other than bitcoin. Ethereum, we can bet that you must have heard about this coin because of its potential and You must have watched memes about SHIBA and DOGE. These cryptocurrencies other than Bitcoin are called altcoins.

Altcoins are very much similar to bitcoin in the sense that they are also peer to peer digital Money but they have some significant differences in their working mechanism as well. The main reason altcoins are important is because they provide a decentralized and secure Alternative to government-issued fiat currencies. They provide a way for users to bypass Banks and other financial institutions.

Unlike traditional currencies like the U.S. dollar (USD) or the Australian dollar (AUD), altcoins offer a number of benefits over traditional Currencies. For example, altcoins are not subject to government control or inflation. They also tend to be more secure than traditional currencies. Since they are traded independently of any government or bank, they also allow users and holders to remain Anonymous. This makes them perfect for making purchases online and avoiding fraud. In addition to providing anonymity and security, altcoins also tend to be much cheaper than Traditional currencies.

Types of altcoins

You are a crypto trader then you should know about each and every type of altcoins that exist in the market right now but we are sure that you don’t have sufficient time to research on all those cryptocurrencies. So, why not we focus on some of the major types of altcoins there are out there in the crypto world right now.

Protocol tokens, App tokens and meme tokens are major categories of altcoins.

Protocol coins are similar to bitcoin in that they are digital tokens that use a blockchain technology. They can be used to pay for transactions on the blockchain. The biggest difference between bitcoin and protocol coins is that protocol coins can be used to pay for transaction fees within the system.

In most cases, protocol coins cannot be used for any other financial transactions outside of the network in which they are used. There are some exceptions to this rule though. These coins are rewarded to the miners who provide the computing power to run the blockchain. While protocol coins are not as popular as bitcoin, they still play an important role in the

App tokens are tokens that are used to power applications on the blockchain. App tokens are similar to appcoins which are used to power apps on mobile devices. Example of app tokens is AAVE coin used to power AAVE app cryptocurrency market.

Meme tokens are a type of cryptocurrency that is designed to represent a particular meme.They are typically created by users on social media platforms and are used to express ideas in a unique and creative way. SHIBA is a particularly popular example of a meme token issued by keeping in view the shiba in meme. Other examples of popular meme coins include Memetig Token, PepeCoin and Internet of Coins

Why altcoins are important?

Now we are left with the question that why these altcoins matter? Together they make up more than 45% of the cryptocurrency. Just like bitcoin, the volatility of altcoins is also very high. For reference just look at the SHIBA coin chart. But as more and more of these coins are generated, either for amusement or to address issues in the real world, another one can appear that fundamentally transforms a different area of our financial system.

The way we develop and use financial tools, applications, and services is being redefined by Ethereum. Thus, the options are essentially unlimited. Sadly, it is impossible to predict whether or when it may occur. Altcoins won’t disappear any time soon and that much is certain.

What is cryptocurrency? Encryption and p2p advantages.

What is cryptocurrency? It’s a basic question asked by almost every beginner. So we are here to explain you about its basics and how Swissblock makes it easy to buy and sale the cryptocurrency with zero fees. This is our first blog on cryptocurrency basics including encryption and p2p advantage. In this series you will learn about crypto buying, selling, deposits, withdrawals, risks and much more in next blogs. But basically what is cryptocurrency? Cryptocurrency is digital money where every transaction is verified and recorded on blockchain. This information is accessible by every person with a regular computer and internet connection. Cool, seems a simple thing, but isn’t all currencies being used today in form of ATM, debit cards, our phones are digital? Well, Yes but it is backed by fiat currency whether its $, £, or €. These are all fiat currencies controlled by governments in centralized system. A big attraction of cryptocurrency is that it’s decentralized and not controlled by any centralized authority like fiat. Let’s break the crypto part into 2 parts. Crypto is related to encryption and P2P related to peer to peer transactions without any third party involvement. what is cryptocurrency

What is cryptocurrency encryption?

Encryption of crypto is term used to define that every transaction is encrypted and can be traced back through blockchain. The transfers are trusted and secured. There is no way you lose your money or get it stuck until unless you put wrong address or forgot your seed phrase. Well, secure transfers cannot protect the value of cryptocurrency because it works on demand and supply system. This is the reason why the price can go that much higher and that much lower with bigger swings than fiat currency.

What is cryptocurrency and p2p relation?

Transactions between wallets work on p2p principle. In this era, world moves faster while the money still follows the same old rule of slow progressing between traditional banks. Cryptocurrency has the potential to solve these problems due to fast movement of crypto. Thus crypto has the potential due to cheap, fast and secure system. This includes international transfers as well without any requirement of IBAN. Here is the good news that Swissblock also gives you the option to choose either to pay via crypto or bank (IBAN) without any headache of downloading two different apps and making accounts of different apps. According to a report by brink news, 1.7 billion people don’t have a bank account or cannot access bank. So having a crypto wallet can solve this problem and provide this huge number of people with modern financial technology. As this currency is not controlled by governments or banks so we can deduce that crypto is also a great way to combat issues resulting from centralization issues like hyperinflation and corruption-but proper assessment of these issues are important before implementation. If this seems good to you as it seems to us, you can understand the importance of crypto and its problem solving power. So we are striving hard to make it accessible to every person by introducing easy sign up features of Swissblock exchange. We also suggest to first undergoing its risks before getting into it. Here are the potential risks. We will be up with more basics of crypto and its working. Stay tuned for further understanding of what is cryptocurrency.

Take profit/stop loss orders relation with risk management.

Take profit/stop loss option is given by crypto exchanges as a trading feature to manage the volatility issues. To tackle the volatility of cryptocurrency, take profit/stop loss trade is implemented in trading that minimizes the chances of loss. We know that any winning trade can become losing one in matter of seconds. So you need a proper plan to make profit and excel in this field.

Swissblock futures trading encourage users to use take profit/stop loss to protect their capital by trading wisely in this volatile market. Self-discipline, strong mind is the main thing that a trader needs to develop in order to make money from crypto trading. If you find that you are losing every trade and the streak is continuous, then you can also disable your futures trading for some time.

But what can help you to in trading psychology and prevent the most unfortunate events? The only answer is to find out the right time for entering and exiting the trade. Analyzing the situation and finding out the right time to exit a losing trade is also an art.

Still your emotions are not in control while trading? Simply set up take profit/stop loss orders

This will lower your chances of getting stressed out and also this will protect your decision from emotional influences.

What are take profit/stop loss orders and it will help in trading?

Make it as part of exit strategy for every trade. These orders will be executed when the price reach the set value. Once the take profit got hit, the stop loss position will be nullified and the trade will be closed. On the contrary, if stop loss got hit, trade will close and this will cut down your further loss. In plain English, Take profit, let you have profit at your set point and Stop loss let you have your investment set to a particular loss and if the price of crypto goes further down, the trade will be automatically stopped and only a specific percentage will be deducted as loss.

If you are trading with proper technical analysis, using indicators on charts, trend lines setup with TP/SL, then there is no need to worry about your running trades and emotions coming in your way of decisions. Each trade you execute, you just need to be sure about your strategy beforehand. No one knows what will happen in the crypto world but what a trader can do is proper analysis of the technical proportions to make proper trades and exit points.

Benefits of Take profit/Stop loss

  • It mitigates the loss
  • Take profit can let you have profits locked at your required price
  • Stop loss will cut down your losses and save your money
  • Lowers stress
  • You can engage yourself with other works while the trade goes on

How to setup TP/SL 

Before setting up take profit/stop loss, identify the proper trade setup and determine your position. On swissblock app, it is easy to setup while setting up the trade. Go to the futures trading section and select the TP/SL option. Input the numerical values of Take profit/ stop loss and it’s done.

Proper risk assessment before trading:

Due to high volatility and risk, you should only invest in those projects which have strong fundamental basis. Carefully assess your trading experience, investment goals, profit/loss assessment and risk tolerance. The information listed in the blogs section shall not be used to formulate financial advice. It can be used to understand better about the cryptocurrency and banking. You should keep this thing in mind that any investment can go in profit as well as in loss. So swissblock always advise to trade with risk management.

How to send money with Swissblock banking app?

Send money with swissblock without any hassle of waiting for days for your payment to arrive. You have signed up for Swissblock banking but still worried about the ways to send money abroad? Don’t worry. Here is the complete beginners guide to sending money abroad with Swissblock. International money transfers with Swissblock are easy. Let’s have a detailed and step-by-step look.

What is the time frame of transfers to send money with swissblock? 

Money Transfer is fast when you are doing it with Swissblock. We have integrated fiat and blockchain in our system which makes the transfers fast and secure.

Most of our transfers are done in the same date of making the transaction. Sometimes it may take 2-5days depending upon the route. But don’t worry; we are always here to keep you updated about your funds and transactions. From Swissblock tracker feature, you have complete record and you can easily locate your money. Check this feature when you are making the transfer next time.

In which regions i can send money with swissblock?

Currently with Swissblock, you can send money in all regions of UK and EU (Single Euro Payments Area) .You can also check the list of supported countries/regions on our website main page. We are supporting GBP, EUR and USD.

send money with swissblock

 Safety of sending money with Swissblock app

Our first priority is to keep your money safe and secure. We have security experts on board in app and available to answer any query regarding safety of your money. That is why people trust us and keep sending money abroad with Swissblock.

How to sign up with Swissblock:

Check out the Swissblock updates section to get detailed information about signing up on Swissblock app. It is simple with an easy verification procedure. 

“Payments” option to send money with Swissblock:

Simply you need to add money in your Swissblock bank account and after this you are all set to send money. Check the “payments” tab and send money anywhere. Add the beneficiary details and rest is on us.

Beware of online scams. A complete informational guide by swissblock.

Online scams are increasing day by day due to mass adoption of online purchasing by people. We all think that we know enough about online frauds and we will not fall for these scams .But while dealing digitally we might face some situations where the third sense is masked by the savvy talks of fraudsters and the right pressure given by them makes us fall for it.

Swissblock believes that the best way to get rid of these scams is to be informed about all these hacks. This will save your money and savings so you can invest them in right way .So for this reason; we are sharing some common online scams that we encounter online.

Stop. First of all keep this thing in mind that all if it seems to be a too good deal, there are chances that it will be fake. We are not saying that every “too good” deal is a red flag because we are not here to kill your good vibes but we are saying that you need to be conscious when such situation prevails.

No-one sells a good PS5 on half the market price.  These offers make you rush. Hold on. Stop and ask yourself that what’s the rush?  If you feel that deal/offer is pushing you than it is another red flag. What is the purpose of financial Institution asking you to pay money through private numbers? If such situation occurs, go to their respective website and call the institution. Tell them about these online scams and it will reduce your chances of being scammed. Don’t call back the number as you will be contacting the fraudster directly if you do that.

“Say NO and move on”. This is the real way to get away from the things you don’t want. Just ask yourself that what is the profit of that seller if he is selling in this low price? Do you really need that? Did you seek this deal? If the answer is NO, then you need to go for safer way.

As discussed before, let’s discuss some common online scams now.

Potential online investment scams.

One common red flag is “High returns”. They promise a huge return for the investment and make you do the money transfer as soon as possible. They include cryptocurrency scams, gold property etc. You will see the ads on social media regarding these that look fascinating and you will be told that this opportunity is exclusively for you. You will be pressurized in making decision as soon as possible.

online scams

What you need to do?

Reject their calls. Verify the company. Don’t feel pressurized in making decision and check the company online with their reviews. 

Sale and purchase online scams :

 Now according to a report by The Economic Times, the online scams ratio is down to 74% in current year as compared to 78% in 2020. Online shopping is gaining strength and this has led the criminals to land in this field to scam innocent people. They take photos of goods from real sellers and clone the real website with little change in URL. They also ask for some advance payment before shipping and give you huge discounts that will mask your thinking activity.

What you need to do?

Read online reviews. Double check the website. Check the transcript. Check the authorized sellers of the respective brand from the brand website.

“Pay Advance fee and get work done” online scams:

Another way of doing online scams is that they entice you to pay upfront money for any service, goods transport or for any huge loan/ prize money. “Lottery scam” is also a kind of advance fee scam as they also demand upfront payment for work.

They will say that this fee is for verification and it is 100 % refundable. This is another red flag.  They put you under pressure and demand money via cryptocurrency or bank transfer.

It is very unlikely that you win huge prize without participating .Confirm the organization and double check the “LinkedIn” pages and hirers of the company.

We have covered almost all major common scams and to facilitate the secure transfers swissblock escrow system can easily be used for money transfer for online deals. 

Crypto and stocks : where and how you should invest ?

Crypto and stocks are a way to get filthy rich but you can also lose all of your money if its not been done by proper management and understanding. A potentially profitable as well as risk thing but you can use the same crypto to pay for your everyday expenses through swissblock but here will discuss how to and where to invest in crypto and stocks.

Crypto and stocks market prices overview

Crypto and stocks market has been facing a hard time from the start of 2022,  but there are also some signs of recovery. Between 2019-2021, it seemed that bitcoin is going to be the future of economy because the price rose from  $6900 to $68990  in time frame of 3 years

But in 2022, cryptocurrency crashed with bitcoin dropping more than 50% to the price upto $19000 in June 2022. From ethereum to polkadot, every currency faced loss. Several factors were involved in this bloodbath that ranges from rising inflation, FED interest rates hike to Russia’s war. But it is obvious that there is always uptrend after downward movement.

.Here are the tips on investing in crypto and stocks through swissblock. After speculating the above mentioned factors, one should be prepared in order to invest in cryptocurrency. Swissblock analysis section help you in seeing the major trends in market.

Institutions are adopting crypto

Despite all the risks, cryptocurrency market is being adopted by a lot of institutions. It is being used as a framework to build financial structures. Famous names including MICROSTRATEGY (NASDAQ:MSTR) and PAYPAL ( NASDAQ : PAYPAL) are giving options to buy cryptocurrency on their platform. Meanwhile other giant tech and financial companies have poured millions of their assets in cryptocurrency. Although it still involves risk but this mass adoption shows the maturing and growing nature of modern industry. Investors and other giant companies are also investing in crypto considering it safe enough for their large sums of money.

Where should you invest ?

You should invest where you are satisfied technically and fundamentally. You cannot keep cryptocurrency in your hands but you can use it to pay for services and goods online through swissblock without paying any high loads of fees.  Keeping crypto in digital wallets is also a doable thing and swissblock crypto exchange offers you digital wallets to store cryptocurrency of your choice. On the other hand, if you want to exchange crypto with fiat, swissblock banking also provides you with that feature. 

So we can deduce that if you want a full fledge exchange to invest in crypto, swissblock exchange and banking is for you to fulfill your cryptocurrency investment needs.

How to buy cryptocurrency through swissblock.

 You just need to open account in swissblock crypto exchange through simple steps without doing any major KYC verification. After this, simply buy crypto and stocks from the exchange and store it in your wallet . We still don’t charge any fee on buying and selling of crypto. Keep crypto in your wallet for as long as you want and keep yourself updated regarding the financial markets through swissblock updates section.

Investing in crypto and stocks is risky ,but you feel good to tip your toes in this market to feel about this futuristic market. Getting started with swissblock is easy and secure in terms of securing of funds and your money. Also you can buy crypto of your choice either it be ether or ripple with only a small fraction of money.

Only invest the amount that you can afford to lose to protect your finances. Also you must consider investing for long term rather than panicking and consequently pulling out your investment during a downtrend. Bitcoin has taught us that if the price goes down, it will come up again.

Shine everywhere with swissblock debit card

Swissblock debit cards with limitless banking feature is what we are offering to make your finance management easy. Cards are necessary now for online transactions as well as for business payments. But boring look of cards is a major turnoff towards money transactions. We always want to add value in your financial system through up to date features inclusion in swissblock banking system and therefore we have come up with new cards with shiny look and improved features. 

The horrible thoughts associated  with card either comes from its low balance or old look. Low balance can be managed by swissblock financial management tips . But the old look should be renewed. To tackle this issue we have rolled our personalized charismatic debit cards to make your wallet look classy.

Shiny and classy swissblock debit card

Its more good if card shines in every shade. Isn’t it ? Swissblock new debit card with shiny film shines in everywhere and fits in every personality. But its not only about looks, its about the perks that swissblock is offering with the card. Our belief is that our customers should always get something extra while banking or during taking out the card from their wallet . 

So take out  card at every place and show off your swissblock card’s chromatic look.

How I can upgrade my card ?

  • Update your swissblock app
  • Click the swissblock cards section
  • Select your plan
  • Upgrade your plan if you are on basic plan
  • If you are already above basic than simply click the physical card option and get your dream card.

Fund your crypto accounts with swissblock debit card

According to a report by finder, Americans spend an average of $1003 in crypto. Now we don’t know whether its entire portfolio of a minor fraction but we know that many people are using swissblock accounts to fund their crypto accounts with different cryptocurrencies.

There are several exchanges that are recognizing swissblock bank and its quite easy to fund your crypto accounts with swissblock debit card. Swissblock crypto exchange also gives you the opportunity to buy and sale crypto currency of your own choice without paying any commission fee. Yes it is true that we still don’t charge anything on buying and selling.

So its now time to sign up for swissblock exchange and bank and get your swissblock debit card to pave your way towards financial freedom., Swissblock is always looking forward to provide you with best financial features in crypto and fiat.

2 simple ways to open swissblock business account with your smartphone.

Swissblock business account offers you great ways to manage your business payments and remittances. Now opening your business account can be done through 2 ways. Either you convert the personal account into swissblock business account or setup the account from the start. In this article we are going to tell you the ways to open your swissblock business account through swissblock app.

Starting a business needs research as well as easy payment options. If you have decided to open a business and struggling with banking option to select , you are at right place. Bank that really works is a bank that really cares about your business. With swissblock business account you get easy, fast payment options and clear view of your money in all currencies. Tracking is easy with swissblock because our 24/7 customer support is here to give you insight and solve your issues timely.

According to report by business standard, almost 4.5 million UK families are under financial stress and to overcome this there should be some measures that can help them in reducing the financial problems. One of major thing to do is to provide them with a platform that can manage and analyze their expenses so they can send, spend and track easily. That is where swissblock stands out and we are striving to provide them easy banking platform. Below is the way to open swissblock business account and make your way towards limitless banking.

Setting up swissblock business account

Got a personal account and want to switch? You can easily do that by clicking on “switch to business” feature. We just need a bit documents for verification and after that you are good to start your business payments from business account. 

What documents you need to submit ?

Verifications are essential.  To provide users, a safe system and to eradicate scams/ corruption from the world, we do keen verification of our every worthy customer. Having a proof of business address, the company number, name of the company is the major things which we need to convert your previous account into business.

What if I don’t have personal account with swissblock?

Don’t worry, its so easy to create one, All  you need is a verified ID, a driving license or a passport .By this way you don’t need to pause your application to get these things and we will be able to verify you in a matter of minutes.

Ready to apply for swissblock business account?

You can apply from your personal account if you have that for your personal finance management. Tap on your profile on the top of the screen and select the “ convert to business account ”  then you need to tap on the apply button and fill the details .

You need the email and phone number that you had put in your personal account. We don’t take it personally if you don’t have personal account. Its very easy to setup in just few clicks. Download the swissblock app from play store or apple store and start setting up your personal account. We always ask about what type of account you need to setup.

Verification and security measures

Once you are done with setting up account – we will start verifying your account through our latest and fast systems. We may also reach out to you if we need any further information and details about your business. Converting personal account into business account takes less time while setting up business account all the way from start will take some more hours . But as mentioned before ,our help and support section is active 24/7 to help you.

If you are approved, we will let you know and after this you will be able to manage your business easily with smart remittances plans and much more .