Swyftx has established itself as one of Australia’s top cryptocurrency exchanges, receiving strong reviews from both industry professionals and everyday investors. It is well-regarded for its easy-to-use platform, wide range of cryptocurrencies, and commitment to security and regulatory compliance.
As a registered exchange with AUSTRAC, Swyftx follows strict anti-money laundering (AML) and know-your-customer (KYC) guidelines, providing a safe and regulated environment for Australian investors. The platform offers access to over 350 cryptocurrencies, low trading fees, and competitive spreads, making it an attractive option for both beginners and experienced traders.
Since its launch in 2018, Swyftx has gained a reputation for reliability, earning a 4.6-star rating on Trustpilot from thousands of Australian users. Customers appreciate the straightforward experience offered by both the mobile app and desktop platform, making it easy to buy, sell, and trade crypto with Australian dollars (AUD).
Swyftx also stands out for its 24/7 customer support, demo trading mode, and Learn and Earn program, which rewards users with free cryptocurrency for completing short educational courses.
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Why Choose Swyftx?
- Supports 350+ cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), and other popular altcoins.
- Low trading fees of 0.6%, with discounts for high-volume traders.
- Free bank transfer deposits and AUD withdrawals.
- Regulatory compliance: AUSTRAC-registered and adheres to strict security protocols.
- High-security standards, including offline storage for most assets and two-factor authentication (2FA).
- 24/7 live customer support for quick assistance.
- Educational rewards: The Learn and Earn program provides free crypto for completing short courses.
- Risk-free demo trading: Practise trading without using real money.
- Mobile app available for iOS and Android.
A Simple and Secure Trading Experience
Swyftx is designed to be accessible for all levels of experience, making cryptocurrency investment straightforward for beginners while also offering tools for more advanced traders.
Unlike many international exchanges, Swyftx allows Australian users to buy crypto directly with AUD, avoiding foreign currency conversion fees. Setting up an account and purchasing Bitcoin or other cryptocurrencies takes just minutes.
For more experienced traders, Swyftx provides advanced features, including real-time price tracking, automated orders, and a selection of charting tools for market analysis.
Wide Range of Cryptocurrencies
Swyftx offers one of the largest selections of cryptocurrencies available on an Australian exchange, with over 350 digital assets to buy, sell, and trade.
Many investors begin with well-known cryptocurrencies like Bitcoin and Ethereum. However, as they become more confident, they may want to diversify their portfolio with altcoins—lesser-known digital currencies that may offer high growth potential.
With Swyftx, users don’t need multiple exchange accounts to access a broad range of cryptocurrencies, as the platform frequently adds new coins.
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Learn and Earn: Get Crypto for Learning
Swyftx offers a Learn and Earn program, designed to help users understand cryptocurrency while earning free crypto.
The program consists of short, simple courses that cover different aspects of cryptocurrency and blockchain technology. Users who complete the courses and pass a quiz receive a small amount of cryptocurrency as a reward.
If a user doesn’t pass the quiz on the first try, they can retake it after 24 hours, making learning easy and accessible.
Demo Trading Mode
Swyftx offers a demo trading mode, allowing users to practise trading without using real money.
This feature is particularly useful for beginners who want to learn how cryptocurrency markets work before investing their own funds. It also helps experienced traders test new strategies in a risk-free environment before applying them in real trades.
Swyftx Bundles: An Easy Way to Diversify
Swyftx offers a crypto bundle feature, which allows users to buy multiple cryptocurrencies in one transaction.
Instead of purchasing individual coins one at a time, Swyftx Bundles provide a convenient way to diversify investments across multiple assets. These bundles cater to different investment preferences, whether for beginners looking for a balanced portfolio or more advanced investors wanting exposure to niche cryptocurrencies.
24/7 Live Chat Support
Unlike many other crypto exchanges that only provide email support, Swyftx offers 24/7 live chat assistance, ensuring users receive quick responses to their queries.
The platform first connects users with an automated chatbot that provides answers to common questions. If further assistance is needed, users can request to speak with a real person, with response times typically within a few minutes.
This feature is especially valuable for beginners who may need help navigating their first crypto trades.
Automated Investing with Swyftx
Swyftx offers an Auto Invest feature, which allows users to schedule regular cryptocurrency purchases.
This is useful for investors following a dollar-cost averaging (DCA) strategy, where they invest a fixed amount at regular intervals rather than trying to time the market.
This approach helps manage risk and reduce the impact of market volatility by spreading out investments over time.
Areas for Improvement
While Swyftx is an excellent platform for Australian investors, there are a few limitations to consider:
- No margin or futures trading: Unlike some global exchanges, Swyftx does not offer leveraged trading options for advanced traders.
- No staking or earn features: Swyftx previously allowed users to earn interest on crypto holdings but has suspended this feature due to regulatory uncertainty.
- Limited advanced trading tools: Professional traders may prefer exchanges with deeper liquidity and more complex trading options.
Despite these limitations, Swyftx remains one of the most beginner-friendly exchanges in Australia.
Swyftx Fees
Swyftx’s fees are competitive compared to other Australian exchanges:
- Deposit fees: Free for bank transfers
- Trading fees: 0.6%, with discounts for higher trading volumes
- AUD withdrawal fees: Free
- Crypto withdrawal fees: Network fee only (varies depending on the cryptocurrency)
With transparent pricing and no hidden charges, Swyftx provides good value for investors.
Security: How Safe is Swyftx?
Security is a major factor when choosing a crypto exchange, and Swyftx has strict security measures in place to protect users.
Key security features include:
- Two-factor authentication (2FA) for added account protection.
- Offline storage (cold storage) for most cryptocurrency assets, reducing the risk of hacking.
- Regular security audits and penetration testing conducted by external cybersecurity experts.
- ISO 27001 certification, an international standard for information security.
- Full reserve asset backing, meaning Swyftx holds customer funds 1:1, reducing insolvency risks.
For users who prefer greater control, Swyftx also supports self-custody, allowing them to transfer assets to their own wallets.
Final Verdict
Swyftx is a trusted, user-friendly, and secure cryptocurrency exchange, making it an excellent choice for Australian investors.
With 350+ cryptocurrencies, low fees, and strong customer support, it caters to both beginners and experienced traders. The Learn and Earn program, demo trading mode, and automated investing features provide additional value for those looking to grow their crypto knowledge and portfolio.
While the platform lacks advanced trading features and staking options, it remains one of the best choices for Australians wanting a simple, reliable, and well-regulated crypto exchange.
