Swan Bitcoin Review (October 2026): Fees, US States and Licenses

Our verdict

Swan Bitcoin, operated by Electric Solidus, Inc., offers Bitcoin-only buying, IRAs, collaborative-custody vaults and private-client services to residents of all 50 states, including New York. Standard buy and sell fees are 1%, withdrawals are free, and platform storage costs 0.03% of assets per month unless auto-withdrawals are enabled. US personal accounts are custodied by Bakkt and IRAs by Equity Trust.

Swan Bitcoin fees

Maker / taker

— Not verified

Simple buy

1% standard fee on bitcoin buys and sells

Volume tiers

Tax-loss harvesting for Swan Private clients costs 1.29% in total for the sell and re-buy.

ACH deposit

— Not verified

Wire deposit

— Not verified

Card purchase

— Not verified

USD withdrawal

Free

Crypto withdrawal

Free (bitcoin withdrawals are complimentary for all clients)

Other fees

Swan Safe platform storage 0.03% of assets per month (waived when auto-withdrawals are enabled; Safe Plus 0.06%); Swan Vault 0.02% per month ($30 minimum, $500 maximum); Swan IRA 0.02% per month ($20 minimum); Swan Business $35 per month.

Minimum deposit

— Not verified

Is Swan Bitcoin available in my state?

Help center (updated Dec 18, 2025) says Swan Personal is open to all US residents and Swan IRA and Business are available in all 50 states, including New York.

• AL available
• AK available
• AZ available
• AR available
• CA available
• CO available
• CT available
• DE available
• DC available
• FL available
• GA available
• HI available
• ID available
• IL available
• IN available
• IA available
• KS available
• KY available
• LA available
• ME available
• MD available
• MA available
• MI available
• MN available
• MS available
• MO available
• MT available
• NE available
• NV available
• NH available
• NJ available
• NM available
• NY available
• NC available
• ND available
• OH available
• OK available
• OR available
• PA available
• RI available
• SC available
• SD available
• TN available
• TX available
• UT available
• VT available
• VA available
• WA available
• WV available
• WI available
• WY available

New York service launched in 2025 through Bakkt; Swan's New York launch post said bitcoin withdrawals for New York accounts were pending NYDFS approval (current status not verified). Of US territories, only Guam, Puerto Rico and the US Virgin Islands are served.

New York

Yes

ID check (KYC)

Yes

Withdraw crypto

Yes

Funding

ACH, Wire

Is Swan Bitcoin regulated?

US operator

Electric Solidus, Inc. (d/b/a Swan Bitcoin)

Parent company

— Not verified

State licenses

— Not verified

New York license

— Not verified

Other

Terms (updated Jul 17, 2026) say Swan does not provide money transmission; custody is handled by partner institutions: Bakkt (US personal and entity accounts; described by Swan as NYDFS-regulated), Equity Trust (IRAs) and BitGo (international accounts).

Founded

— Not verified

Headquarters

— Not verified

How secure is Swan Bitcoin?

Proof of reserves

No public proof of reserves found; Swan says it reconciles its ledger against balances at its custodians

Audits

SOC 2 Type 2 (per Swan homepage)

Insurance

— Not verified

Incidents since 2019

• 2026otherA federal court dismissed Swan's trade-secret lawsuit against Proton Management after Swan conceded in UK proceedings that it did not own the mining assets (reported June 1, 2026).
• 2024otherSwan announced layoffs, the closure of its bitcoin mining unit and the cancellation of its planned public listing.

Crypto held on a platform is not covered by FDIC or SIPC insurance.

What you can do on Swan Bitcoin

• Spot
• Recurring buys
• IRA
• Self-custody wallet

Bitcoin only. Swan IRA (custodied by Equity Trust), Swan Vault collaborative self-custody, Swan Private for high-net-worth clients, Swan Business, and RBX, which converts bitcoin ETF shares into directly held bitcoin.

Apps

Web, iOS

Support

Help center