The web’s most detailed Swyftx review: One of Australia’s most popular cryptocurrency exchanges for buying, selling, and trading coins. This user-friendly platform has attracted thousands and thousands of traders since its inception. They say it’s the only crypto exchange you need. We decided to dig deeper and learn everything there is to know about Swyftx. Read this review to get a complete picture.
• AUSTRAC regulated crypto exchange
• Instant AUD withdrawals for Australian traders
• Simple individual tax reporting included
• No live chat available
• The trading interface is not for high-level traders
• Does not offer short-selling or margin trading
In this section of our Swyftx review we highlight 6 special features that deserves extra attention.
SwyftX is an Australian cryptocurrency exchange with the goal of being the only platform you need for trading and investing in cryptocurrencies. The main office is located on Level 4/50 McDougall St, Milton QLD 4064, Australia. The main company operating this platform is called Swyftx Pty Ltd and is quickly growing to become one of the most trusted names in the industry.
This platform is trusted by over 100.000 traders and the numbers keep growing every month. What makes this exchange unique is the fact that the owners Alex and Angus come from trading and investing backgrounds and they were once consumers just like anyone else. They had a goal of improving trading interfaces, customer support, and exchange security. This all turned into the birth of a new powerhouse, Swyftx, a respected name from the land down under. At the moment the platform has different landing pages for several countries such as Australia, New Zealand, the UK, and Canada. Ireland and India are two up-and-coming countries.
Why use Swyftx
Traders who are looking for a trusted cryptocurrency exchange in Australia for both beginners and experienced investors will truly enjoy Swyftx. This platform is very easy to use and it has a good suite of tools under its belt. After completing the rather rapid KYC process you are free to explore the intuitive interface they’ve designed with usability as the main focus.
The dashboard of Swyftx is not similar to many other crypto exchanges we see every day. The main menu is located to the left with the trade section, profile, shop, quick deposit, quick withdraw, order history, recurring orders, and asset list ready at hand. I really like how they have designed this and it is incredibly easy to navigate.
New traders will learn this platform in less than a minute!
Trading on Swyftx
Since the charting package is from Tradingciew, quality is assured. The order selection tab is also unique with a very simple layout which makes it easy to enter and exit the market. Recurring orders is something new to the crypto scene and Swyftx has incorporated this into their trading very well.
To the left of the charting interface, all altcoins are listed and the list seems endless. Choose from many new projects in which their cryptocurrency is still very cheap. This is a great platform to find new penny cryptocurrencies that have just been released to the market. I would recommend this trading interface for beginners at first, but experienced traders will also enjoy this simple but very robust platform. All of these features are of course available on the Swyftx mobile trading app.
Payment methods and limits
Swyftx offers these payment methods: Bank Transfer, PayId, POLi, Visa, Mastercard, B-pay, Osko, and of course Cryptocurrencies. Since cryptocurrency withdrawals are an option there is no upper limit on maximum withdrawals and there is no lower limit for minimum withdrawals. The minimum deposit with a bank card is $32.
Swyftx category rating
Things we don’t like
I would love to see a real stop loss system on Swyftx. On the current platform, you need to arrange a stop market order to function as a stop-loss trigger. Another improvement for the team is to add a functioning live chat. Many new traders will have questions and it can be frustrating without a helping hand from a human.
Seen aside from these minor misses, we think Swyftx is an excellent cryptocurrency exchange and we highly recommend that all our traders and investors give it a try!
Swyftx Trading Fees
About the special features on Swyftx
Swyftx has a lot of utility and tools aimed at all types of traders. You can day trade cryptocurrencies, invest long term with recurring orders, or simply swap between different coins you’ve found on the market. Ther is also a shop in the main menu that introduces hardware wallet guides where you can purchase your first hardware wallet for cryptocurrencies. There is also a feature that allows you to see the top movers for the day in both the positive and negative directions. This is a very useful tool for day traders looking to find daily volatility.
KYC documentation is a must at Swyftx if you want to start trading or buying cryptocurrencies with a credit card. The demo account lets you practice in the trading pit until you are familiar with the platform. Read fresh market news about different coins in the news section or read up on several of their guides written by professionals.
Simple Individual Crypto Tax Reporting
When it comes to cryptocurrency taxes, Swyftx has your back. You can download your full tax report based in Australian dollars (AUD) with very easy and compliant accounting. The reports you download can cover any period of time that you like.
Fast Biometric Login
This cryptocurrency exchange allows for fast biometric login which makes it very easy and safe to get onto the platform. This feature lets you check balances, place orders, get in and out of the market, or just look for new coins with your own biometric login.
Crypto Portfolio Tracking
To have full control over your cryptocurrency account, a crypto portfolio tracking feature is all you need. With this tool, you will be able to browse your current balance, your monthly statistics, and make good decisions for the future based on your previous track record.
Recurring Orders For Cryptocurrencies
Instead of logging in to your account every week or month, you can instead use recurring orders for crypto trading. This tool will automatically buy your preferred coins exactly when you want to without the need to even log on to the exchange. With recurring orders, you are in control of how much you want to purchase and when.
Instant AUD Withdrawals
Use Australian payment methods like PayID, OSKO, Bank Transfer, and POLi to make withdrawals instantly. This should be a must for any Australian trader and if you want to get your gains paid out on time you need to try Swyftx.
Our own experience with Swyftx
Swyftx Funding Methods
Swyftx Withdrawal Fee
Is Swyftx safe to use?
Yes, it is. Besides the regulation in Australia, it also covers many other security bases such as KYC documentation, 2-factor authentication, safe biometric login, and cold storage wallets for your crypto assets.
Is Swyftx regulated?
Swyftx is regulated by the Australian government under the Australian Transaction Reports and Analysis Centre (AUSTRAC).
Frequently asked questions
Read the most frequently asked questions about Swyftx. Find answers without searching the web.
This cryptocurrency exchange has a lot of good features for all traders and the safety is very high. After reviewing this platform we consider it to be a very good exchange to use.
In comparison to other platforms, this exchange is right in the middle, not extremely cheap but not expensive at all.
Yes, it is. The Australian regulation from AUSTRAC increases the credibility of this exchange.
First, create an account. Second, verify your identity through the rapid KYC process. Third, click Quick Deposit in the left-hand menu. Fourth, choose your preferred method of payment and select how much you would like to deposit. Follow instructions until your account has been funded.
Yes, in fact, there are several wallets for all 250+ altcoins available on the platform.
Yes, this is a crypto trading platform that offers trading in over 250 altcoins.
Swyftx is completely legal in Australia, backed up by government regulation.
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