Risk Disclaimer
Bitcoin's price goes up and down, sometimes a lot. Sweep is built for small amounts over long periods, and it will never tell you what to do with your money. Nothing in the app or on this site is financial advice, and we never pretend the risk isn't there.
Not financial advice
Sweep is a savings tool, not an adviser. Nothing in the app, on this website, in Sweepy's answers, or in the Watch, Listen and Paiges content is a recommendation to buy, hold or sell bitcoin or anything else. The content is general education. Your situation is your own; if you need advice, speak to a licensed financial adviser.
Price risk
The value of bitcoin can fall as well as rise, quickly and by a lot. The dollar value shown in the app changes constantly. You may get back less than you put in. Past prices tell you nothing reliable about future prices.
Your inflation rate and "Savings Above Replacement"
These are estimates. Your inflation rate is worked out from your own spending against official price data and is only as good as that data. SAR compares your bitcoin to cash at your inflation rate; it can be negative over days or weeks, and is meant to be judged over years. Neither is a forecast.
Savings calculator
The calculator on this website uses today's bitcoin price and an assumed average round-up. It shows what spare change adds up to in sats at that price. It is not a forecast of what those sats will be worth.
Self-custody risk
Your bitcoin is held in a wallet only you control. That means only you can lose it. If you lose your twelve recovery words and your phone, your bitcoin is gone, and Sweep cannot recover it. Bitcoin transactions cannot be reversed.
Your recovery words restore your wallet in the Sweep app and in apps built on the same wallet technology. Another bitcoin wallet may not recognise them and may show no balance. If that happens, your bitcoin is not lost: restore your words in the Sweep app.
Leaving Sweep or deleting your account does not touch your wallet. But once you have left, the only way back into your wallet on a new phone is your recovery words. That is why the app checks you have them before you go.
Withdrawals
A withdrawal turns bitcoin back into dollars at the price at the time, which may be less than you paid. Once your bitcoin has been sent for a withdrawal it cannot be reversed or cancelled. If the bank payment is delayed, it is completed, not refunded. Bank transfers can take time, and fees are taken out of the amount you withdraw.
Fees
Sweep charges 3% of each sweep, and $4.99 a month after your first three months. Fees are subject to change. Partner and network costs are shown in the app. Because converting has a fixed cost, small sweeps lose proportionally more to fees.
Not a bank account, and not insured
Your bitcoin is not a bank deposit. It is not covered by any government deposit guarantee or insurance scheme, such as FDIC insurance in the United States.
Scams
Sweep will never ask for your twelve recovery words, and will never ask you to send bitcoin to verify or unlock anything. Anyone who does is trying to steal from you. See Security.
Tax
Buying, holding, selling or spending bitcoin can have tax consequences where you live. Sweep does not give tax advice. Keep your own records, and ask a tax adviser if you are unsure.
Early access
Sweep is in early access. It may be unavailable, change, or contain errors.