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Swyftx
4.0
★★★★★
Finder score
4.4
★★★★★
Regulator registration
AUSTRAC,ASIC
Supported assets
352
Fiat currencies
3
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.

Our verdict

Buy and sell hundreds of cryptos with this beginner-friendly exchange.

Swyftx is a good option if you're looking for an intuitive and beginner-friendly crypto platform.

It offers a flat trading fee of 0.6% and free AUD deposits when you use a bank transfer, PayID or Osko.

There is a wide selection of assets available and useful features like recurring buys, stop-loss orders and even self-managed super fund (SMSF) support.

The exchange has a mobile app and desktop platform, each emphasising a user-friendly design.

Newcomers can make use of a demo trading account to get familiar with trading before risking any real assets.

Live chat support means you should easily find help with any issues you might run into.

  • If this is your first exchange. Swyftx's intuitive layout, free demo trading account and live support gives new users a solid foundation for building their crypto portfolio. It's range of over 300 cryptocurrencies should have many of the assets beginners are looking for.

  • If you're switching exchanges. Swyftx has a comprehensive list of supported cryptocurrencies and a good range of portfolio management tools. It's customer support is Australian based and responds within about 10 minutes. However, it lacks some of the advance charting tools and features that larger exchanges offer.

Pros

  • Complies with the Australian Transaction Reports and Analysis Centre regulations in Australia. AUSTRAC is the peak body for regulating cryptocurrency exchanges in Australia which requires Swyftx to comply with laws and regulations that are intended to provide certain protections for users.
  • Over 351 cryptocurrencies supported. Swyftx supports 351+ assets, which should give you a good range of industries and asset types to invest in without needing to hop between multiple exchanges.
  • Trade with multiple fiat currencies. Swyftx allows you to trade with 3 currencies including AUD, USD, NZD.
  • Deposit and withdraw AUD directly to your bank account in Australia. With Swyftx you can deposit cash from your Australian bank account and cash out back into the same account.

Cons

    In this guide

    • Our verdict
    • Details
      • Product details
    • Your reviews
    • Ask a question

    Details

    Product details

    Product Name Swyftx
    Fiat Currencies AUD, USD, NZD
    Cryptocurrencies BTC, BTG, BCH, ADA, ETH, ETC, FIL, LTC, NEO, LUNC & 342 more
    Deposit Methods Bank transfer
    Credit card
    Cryptocurrency
    Debit card
    Osko
    PayID
    Trading Fee 0.10—0.60%
    Deposit Fees Bank transfer: $0
    Card: Fees vary
    PayID: $0
    Cryptocurrency: $0
    Withdrawal Fees AUD: $0
    Cryptocurrency: $0 (network fees apply)

    Ratings breakdown: How we scored Swyftx

    Supported cryptocurrencies ★★★★★
    Transferring money or assets ★★★★★
    Fees and costs ★★★★★
    Ease of use ★★★★★
    Customer service ★★★★★
    Features ★★★★★
    Trustworthiness/security ★★★★★

    How we rate our crypto exchanges and platforms

    Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology for more information.

    Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.

    About Swyftx

    Swyftx is an Australian cryptocurrency exchange founded in 2017 by Alex Harper and Angus Goldman. The platform is headquartered in Milton, Brisbane and has expanded operations into New Zealand.

    Swyftx is a member of Blockchain Australia, an industry body designed to create and implement best practices for the digital asset industry in Australia.

    We launched Swyftx in 2019 to give Aussie crypto users access to industry-high levels of security, customer experience, and value. Four years on, I'm proud to say we still live and breathe those values and it's why we've been the country's top-rated exchange for 28 consecutive months. We're trusted by more than 655K customers and that number is growing day by day, week by week - Alex Harper, CEO


    Swyftx supported assets

    Swyftx supports over 351 cryptocurrencies. In total, Swyftx carries 18 of the top 20 cryptos by market cap.

    Popular assets on Swyftx
    supports
    Bitcoin (BTC)
    supports
    Ethereum (ETH)
    supports
    Tether (USDT)
    supports
    BNB (BNB)
    supports
    Solana (SOL)
    supports
    USDC (USDC)
    does not support
    Lido Staked Ether (STETH)
    supports
    XRP (XRP)
    supports
    Dogecoin (DOGE)
    does not support
    Toncoin (TON)
    supports
    Cardano (ADA)
    supports
    Shiba Inu (SHIB)
    supports
    Avalanche (AVAX)
    supports
    Wrapped Bitcoin (WBTC)
    supports
    Bitcoin Cash (BCH)
    supports
    TRON (TRX)
    supports
    Polkadot (DOT)
    supports
    Chainlink (LINK)
    supports
    Polygon (MATIC)
    supports
    Litecoin (LTC)

    Swyftx fees review

    Swyftx Cryptocurrency, PayID and bank transfer deposits are free for folks in Australia.

    Deposit and withdrawal fees

    Transaction type Fee
    Deposit funds Bank transfer: $0
    Card: Fees vary
    PayID: $0
    Cryptocurrency: $0
    Withdraw funds AUD: $0
    Cryptocurrency: $0 (network fees apply)

    Swyftx uses a maker taker fee structure for spot market trading. Instant purchases incur a separate fee.

    Type Fee
    Maker 0.10—0.60%
    Taker 0.10—0.60%

    Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.

    Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.

    Swyftx deposit methods

    • Bank transfer
    • Credit card
    • Cryptocurrency
    • Debit card
    • Osko
    • PayID

    How to sign up on Swyftx

    Before you can get started trading on Swyftx, you'll have to go through a Know Your Customer (KYC) verification process (which usually involves proof of identification).

    1. Get started
      Visit Swyftx's site. After selecting the Get Started button, fill in the create account form.
    2. Set up payment
      Before you can start trading, you have to add your bank account to your Swyftx account. There are several options to choose from, so choose the option most compatible.
    3. Provide identification
      Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this.
    4. Start trading
      After all that is processed, you're ready to trade on Swyftx.

    About the Swyftx app

    The Swyftx app is very elegant and easy to use. It offers the same features as the desktop exchange, so you can trade, monitor your portfolio or make withdrawals and deposits from anywhere.

    The interface is visually appealing with a very clean and simple user interface. It is equally well suited to beginners as well as experienced traders. You can toggle between light and dark mode.

    There is automated portfolio tracking which provides analytics and insights into your portfolio with easy to understand charts and visuals.

    You can contact customer support through the app, using the live chat.

    Three screenshots of the Swyftx app

    App store Rating Total reviews
    Google Play 4.2 stars 7.2k reviews with 100k downloads
    Apple Store 4.5 stars 5.6k reviews

    Is Swyftx safe?

    Swyftx is registered with Australian regulatory body AUSTRAC and abides by relevant money-laundering, counter-terrorism and KYC protocols.

    Past hacks. No hacks have been recorded since Swyftx was founded in 2017.

    Security audits. Swyftx employs a number of industry-standard security measures, including penetration testing, least privilege and breached password detection. They're among a small group of Australian exchanges that hold the international security standard ISO27001 certification.

    Swyftx recommends all account holders activate 2-factor authentication (2FA) to provide additional protection.

    Insurance. Swyftx does not offer insurance for either fiat or cryptocurrency funds held on the exchange.

    Keeping your crypto secure

    All centralised exchanges, including Swyftx, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.

    Ledger Nano X Wallet

    Trezor Model T Wallet

    Go to site
    Go to site

    Supported assets

    5,500+

    Supported assets

    9,000+

    Price (USD)

    $149

    Price (USD)

    $179

    Swyftx customer support

    Swyftx's customer support team is based in Australia and can be reached via live web chat.

    When you first open the live chat you will be answered by a bot. You can then proceed with the bot or request to speak with a person. When we tested this, it took around 10 minutes to be put in touch with a person.

    In addition to live chat there is a help centre with articles. You can search by topic or keyword.

    Swyftx also maintain active accounts on Twitter, LinkedIn and Facebook.

    How to reach Swyftx customer support

    • Facebook
    • Help center articles
    • LinkedIn
    • Live chat
    • Support ticket
    • Twitter

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    Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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    Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

    Ask a question

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    James Finder

    Editor

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