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Best Cryptocurrency Exchange in Australia
Best Cryptocurrency Exchange NZAUSTRAC Registered This exchange is registered with AUSTRAC. Digital currency exchange providers in Australia are required to be registered with AUSTRAC. This ensures they must comply with relevant AML and CTF laws or risk facing heavy penalties. You can read more about this on AUSTRAC's website. This registration should not be viewed as an official endorsement or guarantee of services.
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Pros
Cons
Quick Summary
| Headquarters Location | Brisbane, Australia |
|---|---|
| Fiat Currencies Supported | USD, AUD, NZD |
| Total Supported Cryptocurrencies | 379+ |
| Trading Fees | 0.10% - 0.60% |
| Deposit Methods | Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Osko, PayID, Banxa |
| Support | Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket |
| Mobile App | Yes - iOS, Android |
In an industry marked by rapid change and innovation, Swyftx was born out of a need for a robust trading platform catering to intermediate and advanced traders.
Swyftx offers seamless integration with Australian regulations and tax systems, making it a trustworthy choice for cryptocurrency investors. It also comes with a user-friendly interface. Traders will benefit from its realistic transaction fees and instant withdrawal and deposit options.
At the heart of Swyftx is a vision to promote financial freedom for everyone. This vision serves as a primary motivator across their services, driving them to create a platform that empowers individuals by unlocking their financial freedom for the future.
Part of Swyftx’s strategic objectives includes effectively merging decentralized finance with traditional financial systems, enhancing the user experience, and bringing the benefits of both worlds to the fingertips of its users.
About Swyftx
The Australian cryptocurrency exchange, Swyftx, was brought to life by the ambitious partnership of CEO Alex Harper and CTO Angus Goldman.
Since its inception in 2017 and official launch for customer trading in 2019, Swyftx has grown significantly since they started. This growth reflects its strong presence as an essential locally-owned business within the Australian market.
Emphasizing security and adherence to regulatory standards, Swyftx proudly emphasizes its commitment to delivering a compliant trading experience through its platform, which is dedicated to serving the needs of Australians.
Vision and Mission
Swyftx transcends being a mere cryptocurrency exchange by establishing itself as a platform committed to advancing financial liberty for all. It is driven by the mission of equipping individuals with the means to attain their economic freedom in the future, which fuels its range of service offerings.
The Swyftx platform is acclaimed for:
- Competitive fees
- An interface that’s easy to navigate
- A well-designed application
- Swift verification procedures
These attributes cater to a broad spectrum of users, simplifying the process for novices and experts initiating crypto trading.
A notable function within the Swyftx platform is its coin swap feature. This allows individuals to effortlessly switch between cryptocurrencies via an efficient exchange mechanism on various cryptocurrency exchanges.
Swyftx provides capabilities for tracking one’s portfolio value in real-time, which assists traders in keeping tabs on gains and losses spread across numerous assets. The platform facilitates diverse trade orders such as stop, market, and trigger orders, allowing traders to adapt their strategies based on fluctuating market dynamics.
It should be mentioned that the Swyftx exchange does not offer more complex features tailored to sophisticated trading practices, such as derivatives trading tools.
Swyftx has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Discord, Reddit, Telegram, TikTok and YouTube.
Swyftx has a mobile app on both the Apple App Store and Google Play.
Swyftx Supported Cryptocurrencies
Swyftx supports trading on over 379 cryptocurrencies on their platform. This exchange currently supports 26 of the top 30 market cap cryptocurrencies.
Download full list of cryptocurrencies Swyftx supports
Swyftx distinguishes itself as a premier cryptocurrency exchange by providing an extensive portfolio of 379+ cryptocurrencies. This broad assortment caters to various trading styles and tactics, ensuring traders can access widely recognized coins and lesser-known altcoins across different crypto exchanges.
The diversity in Swyftx’s offerings underscores its commitment to meeting the varied needs of the crypto trading community.
Mainstream vs. Altcoins
Swyftx not only presents a broad selection of cryptocurrencies but also creates tailored bundles to assist investors with diversifying their holdings.
The ‘Big Two’ bundle is an example, concentrating on prominent mainstream cryptocurrencies, including Bitcoin and Ethereum. Thus, it provides investors an uncomplicated approach to investing in the top two digital currencies by market cap.
Investment Opportunities
Crafted to prioritize the user’s experience, Swyftx boasts an intuitive and straightforward user interface that is especially beneficial for those new to investing. The platform simplifies trading by providing easy-to-follow steps for depositing and withdrawing funds from a bank account, easing these vital processes for its users.
These additions furnish Swyftx users with alternative strategies to broaden their investment mix and enhance opportunities for cryptocurrency investments.
Trading Experience
Swyftx was created to meet the needs of all types of traders, from novice to expert. With its user-friendly platform interface and simplified trading process, this platform is tailored to meet these goals.
Demo mode, real-time news updates, and access to expert market analysis provide users with invaluable insights that help inform their trades. Furthermore, advanced traders can take advantage of an array of technical indicators and charting tools to create comprehensive trading strategies.
From a customisable dashboard that offers users an in-depth market trend analysis to their proprietary algorithm that offers in-depth market depth and analysis, their platform enables traders to execute trades precisely and confidently. Furthermore, demo accounts are available so newcomers can test trading processes without risking real money in their practice sessions.
User Experience and Interface
The platform simplifies trading by providing easy-to-follow steps for depositing and withdrawing funds, easing these vital processes for its new users.
In terms of mobile accessibility, the Swyftx app delivers the following:
- Pricing is updated in real-time
- Integration with APIs
- A smooth cross-device functionality
- A biometric login feature that provides a swift and secure way to access accounts without needing passwords, allowing immediate trade executions.
Tools for Trading Strategies
Through integration with TradingView, users access an extensive selection of trading tools that enhance their ability to analyze trades in depth.
Here are some of the features offered on the platform:
- Sophisticated trading charts
- A variety of trading indicators
- Analytical tools for in-depth trade examination
- Optimization features that aggregate crypto orders from several exchanges
In support of diversifying investment approaches, Swyftx facilitates several options, including:
- ‘Bundles’ which enable investments across multiple assets via one transaction.
- (Currently not available) Staking capabilities on 20 different coins provide investors with an interest-based mechanism to accrue rewards from their asset holdings.
Dollar Cost Averaging (DCA) has been incorporated into the system as a strategic measure against the fluctuating nature of cryptocurrency markets.
Experienced market participants looking to hone their investing tactics can use Swyftx’s demo mode. This feature allows experienced traders to practice refining their strategies within a risk-free simulated setup before transitioning them into actual live-market operations.
Swyftx Fees
Swyftx takes great pride in its transparent fee policy. Instead of charging an array of hidden costs, this platform opts for a more straightforward approach with transparent fees.
Traders can expect minimal spreads and an industry-standard fee structure that aligns with industry norms. While market conditions may affect fees specifically, this platform’s commitment to maintaining reasonable and understandable fees remains at the core of its service offering.
Swyftx stands out in an environment where trading fees can often be the deciding factor. It offers an upfront and transparent approach to fees that keeps its edge as an online broker. Their approach reflects an in-depth knowledge of what traders value – transparency and predictability.
Understanding the Swyftx Fee Structure
Depending upon your 30-day trade volume, Swyftx offers a tiered fee structure that varies between 0.10% - 0.60%.
Consequently, individuals engaging more frequently in trading benefit from reduced fees as their activity increases—this approach eliminates any concealed charges (hidden fees). The intention behind this is to incentivize frequent traders while using low fees and simultaneously ensuring cost affordability.
Spread Dynamics
Swyftx stands out among various exchanges due to its low trading fees and competitively priced average spread, which is approximately 0.41%. This aspect underscores Swyftx’s reputation as an economical choice for individuals utilizing its trading platform services.
| Type | Fee |
|---|---|
| Deposit Fee (Bank Transfer - Osko, PayID) | 0% |
| Deposit Fee (Credit/Debit Card) | 1.99% |
| Trading Fee | 0.10% - 0.60% |
| Withdrawal Fee (Bank Transfer) | 0% |
Swyftx supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.00008 BTC. The average across all other exchanges that we've reviewed is 0.000380 BTC. This means Swyftx charges below the industry average by 78.96%.
Swyftx has a maker/taker fee schedule which you can see below.
| Tier | Trading fee | 30-day trade volume (AUD) |
|---|---|---|
| Regular | 0.60% | <$100,000 |
| VIP 1 | 0.55% | ≥ $100,000 |
| VIP 2 | 0.50% | ≥ $300,000 |
| VIP 3 | 0.45% | ≥ $400,000 |
| VIP 4 | 0.40% | ≥ $500,000 |
| VIP 5 | 0.35% | ≥ $1,000,000 |
| VIP 6 | 0.30% | ≥ $3,000,000 |
| VIP 7 | 0.25% | ≥ $4,000,000 |
| VIP 8 | 0.20% | ≥ $5,000,000 |
| VIP 9 | 0.10% | ≥ $6,000,000 |
Security - Is Swyftx Safe?
When it comes to security, Swyftx leaves no stone unturned. The platform has achieved ISO 27001 certification, demonstrating its commitment to information security management standards. Being regulated by AUSTRAC, Swyftx adheres to strict compliance standards and industry-standard security measures to ensure user safety.
Swyftx incorporates the following security measures to safeguard its platform:
- JWT tokens
- Session expiries
- Breached password checks
- Internal least privilege security model
In addition, Swyftx conducts regular external penetration testing and third-party security audits as part of its proactive approach to maintaining a robust security framework.
Swyftx users are protected through 2FA via third-party authentication apps such as Google Authenticator. Furthermore, Swyftx partners with Chainalysis and TRM Labs to enhance security and fight fraud and scams through continuous blockchain analysis and customer due diligence programs.
Penetration Testing and Safeguards
The platform engages in comprehensive external penetration testing to uncover and address any possible security weaknesses, thus bolstering its defences against breaches. To prevent unauthorized entry, Swyftx implements a stringent password protocol urging the creation of lengthy passwords composed of varied characters.
In pursuit of heightened protection, Swyftx integrates biometric safeguard features within its mobile application offerings. This includes alternatives like fingerprint identification or facial recognition scan options to fortify the mobile app’s security integrity.
Regulatory Compliance
Swyftx strongly emphasizes abiding by regulatory requirements. As a legitimate crypto exchange, the Australian Transaction Reports and Analysis Centre (AUSTRAC) duly registered with and regulated the platform, underscoring its commitment to adhering to all necessary regulatory protocols.
The registration assures Swyftx operates within the confines of security standards essential for safe trading practices. It implements rigorous know-your-customer (KYC) measures alongside transaction monitoring systems designed to curtail potential risks related to money laundering or funding terrorist activities.
In response to intensified regulations in Australia’s cryptocurrency sector, Swyftx has taken deliberate actions consistent with current legislative demands. In particular, they have discontinued their ‘Earn’ feature as part of strategic steps toward full compliance with prevailing local laws and directives governing such platforms.
Swyftx Customer Support
In the dynamic realm of cryptocurrency trading, having quick access to customer support is essential.
Proudly, Swyftx delivers an average response time for live chat support in just 2 to 3 minutes and pledges to address phone inquiries within this period.
Swyftx guarantees fantastic customer service by committing to reply to email requests for support within one business day.
Their customer support services are available from 9 AM until 9 PM AEST, ensuring that assistance is readily available.
Help Centre and Educational Resources
Swyftx is dedicated to providing its users with educational tools for enhanced understanding. The platform has an exclusive area called Swyftx Learn that houses various instructional materials to educate customers about trading practices, including comprehensive courses and insightful articles interspersed with quizzes designed to engage learners. There is also a handy glossary and the Analysis Hub.
Swyftx customers await a wide array of learning resources. These include an academic platform with in-depth courses, analytical articles complemented by stimulating quizzes and a detailed glossary, all rounded off with access to an Analysis Hub.
Swyftx Support Channels
Unique Offerings: SMSF and Recurring Orders
Swyftx distinguishes itself in the digital currency space with an array of exceptional offerings on its advanced trading platform. Notably, it provides:
- A dedicated service for Self Managed Super Fund (SMSF) allows qualifying Australians to incorporate crypto assets into their retirement funds while reaping potential tax advantages.
- Professional advisory sessions that offer assistance and expertise.
- An efficient procedure for establishing SMSF accounts.
These services place Swyftx at the forefront of supporting Australian investors who manage their superannuation funds in crypto investments.
Swyftx presents a Recurring Orders feature within its platform. This tool empowers users to set up automatic transactions at predetermined intervals, facilitating a strategic accumulation of cryptocurrency holdings whilst mitigating risks associated with market fluctuations.
SMSF Account Setup
Investors can quickly establish an SMSF account with Swyftx by starting the process via their app and scheduling a consultation with specialists to guide them. Trustees must supply various details to set up the SMSF account, including the official trust name and address, bank account, ABN, documentation of the trust deed, and information on trust beneficiaries.
Primary beneficiaries must have their Swyftx accounts verified.
Trustees must be aware of their legal duty when managing an SMSF to adhere strictly to all guidelines outlined under the Superannuation Industry (Supervision) Act. This includes accepting full responsibility for decision-making processes regarding compliance matters and acknowledging potential financial risks, such as experiencing minimal or negative investment returns.
Automated Investing
Swyftx caters to investors who favour a passive investment strategy by providing the Recurring Orders feature. Through this option, individuals can schedule investments at consistent periods, which assists in methodically growing their crypto portfolio while mitigating the risks associated with market fluctuations.
The platform allows Swyftx-regulated users to establish recurring orders through automatic transfers of Australian dollars (AUD), promoting a seamless and regular investment experience in any of Swyftx’s expansive selection of assets and crypto bundles.
Swyftx Mobile Trading: App Review
The functionality within the Swyftx mobile platform mirrors that of its online counterpart, offering the following:
- Complete access to all features found on their web-based platform
- Advanced charting tools for market analysis
- The ability to execute buy or sell orders smoothly
- Options for tracking open trading positions efficiently
- Features enabling deposits and withdrawals directly through your mobile phone
App Features
The Swyftx mobile application has various features designed to elevate the trading process. With recent updates, users can personalize their experience on the desktop platform and mobile app through options like Dark Mode for eye comfort, High Contrast for better visibility, and Font Scaling to adjust readability according to preference.
Integrated within the app are TradingView charts, which provide extensive technical indicators and advanced charting tools necessary for in-depth trade analysis.
The Swyftx mobile app can assess performance analytics and various metrics on a specialized Wallets page and set up price alerts that help users make timely strategic trade decisions.
Moreover, consolidated orders can be placed across multiple assets thanks to an innovative combined order functionality.
On-the-Go Trading
Swyftx’s mobile application is designed to provide the following:
- Comprehensive trading capabilities on both Android and iOS smartphones
- The flexibility to conduct cryptocurrency trades anytime, anywhere
- Up-to-the-minute monitoring of cryptocurrency prices
- Rapid transaction processing that reflects the desktop platform’s efficiency
Moreover, the Swyftx app enhances the trading experience by offering users:
- Immediate notifications about price changes to support informed decision-making while mobile
- Accessible live chat within the app for efficient problem-solving assistance
- Hassle-free management of trades and portfolios when away from a traditional computer setup
Users frequently praise Swyftx’s mobile application for its ease of use and practicality in allowing them to trade and manage their holdings remotely, solidifying it as an exceptionally user-friendly platform.
How to Sign Up on Swyftx
- Create Account - Visit the Swyftx website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
Swyftx Alternatives
CoinSpot
Total Supported Cryptocurrencies
470+
Trading Fees
0.10% - 1.00%
Fiat Currencies Supported
AUD
Binance
Total Supported Cryptocurrencies
391+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Bybit
Total Supported Cryptocurrencies
491+
Trading Fees
-0.0050% - 0.1000%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 160 others
Final Thoughts
Swyftx is an Australian-based cryptocurrency exchange that primarily serves Australian residents. The company offers a wide range of cryptocurrencies and competitive trading fees, a user-friendly interface, robust security features, and 24/7 customer support. However, the platform has limited advanced trading features.
You can reach Swyftx through their official website and social media pages. You can also download their mobile app on your iOS or Android device.
Swyftx FAQs
Yes, Swyftx is an Australian based cryptocurrency exchange. Their founders are both Australian and their main office is located in Brisbane.
Users can withdraw Australian dollars (AUD) from Swyftx to their bank accounts.
Swyftx was co-founded by Alex Harper and Angus Goldman.
Swyftx offers a user-friendly interface, customer support, a variety of cryptocurrency assets for trading, and Australian Dollar (AUD) integration for easy deposits and withdrawals.
If you’re interested in seeing how Swyftx stacks up against other crypto exchanges, view our articles comparing Binance vs Swyftx, Digital Surge vs Swyftx, KuCoin vs Swyftx, and Swyftx vs CoinSpot.
The base currency for Swyftx is typically the Australian Dollar (AUD), as it primarily serves Australian residents.
Swyftx is a platform that allows users to trade cryptocurrencies, but it is not a publicly traded company where you can purchase shares.
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