LynAlden on Nostr: It’s been about five years now since Swan Bitcoin opened their doors and started ...

It’s been about five years now since Swan Bitcoin opened their doors and started doing business.

In addition to successes, they ran into various frictions and controversies during that time due to limitations at their counter parties that they had to work through and upscale from, but at the end of the day, they have promoted self custody from the start, still do, and people can withdraw their sats safe and sound. They want you to, and you should, ideally.

Their vision from founding was that sats probably shouldn’t be on the balance sheet liability side of a startup (them) and instead should be in qualified custodians held in buyers’ names, to the extent that they’re not self custodied. They made it free to pull sats into self custody from the start and have a really high ratio of buyers pulling into self custody.

Cheers to them for being five years in operation and still working for their users.

When people are like “You should pull sats from Swan due to headline XYZ” Swan is like “headline XYZ is mostly wrong, here’s why, but yes you should pull sats from us, which we’ve been saying from the start!”