Swyftx is a cryptocurrency exchange based in Australia, founded in 2017. The platform aims to provide a simple, user-friendly experience for buying, selling, and trading cryptocurrencies. In this review, we will take a detailed look at Swyftx’s features, fees, security, and overall user experience.
Swyftx’s user interface is clean, intuitive, and user-friendly. The platform is easy to navigate, and the process of buying and selling cryptocurrencies is straightforward. Swyftx offers a wide variety of cryptocurrencies to choose from, including Bitcoin, Ethereum, Litecoin, Ripple, and more. Users can also view their transaction history, trading history, and account balances on the platform
Safety and Security
Swyftx takes security very seriously and has implemented several measures to ensure the safety of user funds. The platform uses two-factor authentication (2FA) to protect user accounts, and all user data is encrypted and stored securely. Swyftx also has a cold wallet storage system that stores the majority of user funds offline, which is a more secure method than hot wallet storage.
Swyftx offers a high level of liquidity for its users, which means that users can buy and sell cryptocurrencies quickly and at a fair price. The exchange has a robust trading engine that can handle high volumes of trades, ensuring that users can execute their trades without delay. Swyftx also offers a large number of trading pairs, which increases the liquidity of the exchange.
Swyftx uses a market-making algorithm that ensures that there is always a buyer or seller for each trade. This algorithm provides a fair and competitive price for users, ensuring that they can buy and sell cryptocurrencies at the best possible price. Additionally, Swyftx offers a price matching feature that ensures that users get the best price possible when buying or selling cryptocurrencies.
Swyftx’s online wallet is a secure and easy-to-use platform for storing and managing cryptocurrencies. The wallet supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, and more. The wallet also provides users with a unique address for each cryptocurrency, making it easy to receive and send funds.
One of the most significant benefits of Swyftx’s online wallet is its ease of use. Users can easily deposit funds into their wallet using a variety of payment methods, including bank transfers, POLi, PayID, and credit/debit cards. Additionally, users can easily withdraw funds from their wallet to their bank account.
Swyftx’s online wallet also offers advanced security features to protect user funds. The wallet uses two-factor authentication (2FA) to ensure that only the account owner can access the funds. Additionally, the wallet stores the majority of user funds in cold storage, which means that they are stored offline and away from potential hacks.
Swyftx charges a 0.6% trading fee on all transactions, which is relatively low compared to other cryptocurrency exchanges. Additionally, Swyftx does not charge any deposit or withdrawal fees, which is a significant advantage for users.
Swyftx offers a large number of trading pairs, which allows users to trade a wide range of cryptocurrencies. The exchange offers pairing options for popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, and more. Additionally, Swyftx offers pairing options for smaller market cap cryptocurrencies, which is a benefit for users looking to trade emerging cryptocurrencies.
Swyftx offers both fiat-to-crypto and crypto-to-crypto pairing options. This means that users can trade cryptocurrencies against traditional currencies like USD, AUD, EUR, and more. Additionally, users can trade cryptocurrencies against other cryptocurrencies.
Swyftx provides excellent customer support, with a dedicated support team available via email, live chat, and phone. The support team is knowledgeable and responsive, and they are available 24/7 to assist users with any issues they may encounter.
Premium Insurance Account
Swyftx’s premium insurance account is designed to provide users with additional protection for their cryptocurrency holdings. The premium insurance account includes a range of features, including:
- Enhanced Security: Premium account holders benefit from enhanced security features, including two-factor authentication (2FA), email and SMS notifications, and advanced identity verification.
- Higher Withdrawal Limits: Premium account holders have higher daily withdrawal limits, which allows them to withdraw larger amounts of cryptocurrency in a single transaction.
- Priority Support: Premium account holders have access to priority support, which means that their inquiries are handled with higher priority than standard accounts.
- Cold Storage: Premium account holders’ cryptocurrency holdings are stored in cold storage, which means that they are kept offline and away from potential hacks.
- Insurance Coverage: Premium account holders receive insurance coverage for their cryptocurrency holdings. The insurance coverage is provided by Lloyd’s of London and covers up to AUD $1,000,000 per user.
Swyftx offers a mobile app for both iOS and Android devices, allowing users to access their cryptocurrency accounts on the go. In this section, we will take a closer look at Swyftx’s mobile app and its features.
The Swyftx mobile app provides users with a range of features, including:
Trading: Users can buy, sell, and trade cryptocurrencies directly from their mobile devices.
Price Tracking: The app allows users to track the price of their favorite cryptocurrencies in real-time.
Portfolio Management: Users can manage their cryptocurrency portfolio directly from the app, including tracking their holdings and monitoring their performance.
Security Features: The app includes security features such as two-factor authentication (2FA), biometric login (such as Face ID or Touch ID), and PIN protection.
Deposit and Withdrawal: Users can deposit and withdraw cryptocurrencies directly from the app.
Customer Support: The app includes a customer support feature that allows users to contact Swyftx’s support team directly from the app.
To download the app click below:
Why Choose Swyftx
There are several reasons why one might choose Swyftx as their preferred cryptocurrency exchange. Here are a few of the key reasons:
User-Friendly Interface: Swyftx’s platform is designed with ease of use in mind, making it accessible to both beginners and experienced traders.
Wide Range of Cryptocurrencies: Swyftx offers users access to a wide range of cryptocurrencies, including popular options like Bitcoin, Ethereum, and Ripple, as well as smaller altcoins.
Low Trading Fees: Swyftx offers some of the lowest trading fees in Australia, with a flat fee of 0.6% per transaction.
Fast and Secure Transactions: Swyftx’s platform is designed for fast and secure transactions, with an emphasis on security features like two-factor authentication (2FA) and cold storage for offline storage of user funds.
Australian Owned and Operated: Swyftx is an Australian-owned and operated cryptocurrency exchange, with headquarters in Brisbane. This means that users can enjoy local customer support and are subject to Australian regulatory oversight.
Advanced Trading Tools: Swyftx offers advanced trading tools such as stop-loss orders, limit orders, and price alerts, allowing traders to execute more complex trading strategies.
Excellent Customer Support: Swyftx offers top-notch customer support, with a dedicated support team available via email, live chat, and phone.
How to Create an Account
Creating an account with Swyftx is a simple and straightforward process.
Here’s a step-by-step guide:
- Visit Swyftx’s website at https://swyftx.com.au/ and click on the “Sign Up” button in the top right corner.
- You will be asked to provide your email address and to create a strong password.
- Once you have entered your email and password, click on the “Create Account” button.
- You will be directed to a page where you will need to enter your personal information, including your full name, date of birth, and residential address.
- Next, you will need to verify your identity. This can be done by uploading a copy of your passport or driver’s license, as well as a selfie of yourself holding your ID.
- Once your identity has been verified, you will be asked to set up two-factor authentication (2FA) to further secure your account.
- Finally, you will need to deposit funds into your account in order to start trading. You can do this by linking your bank account and transferring funds via BPAY or PayID, or by depositing cryptocurrency directly into your Swyftx account.
Once you have completed these steps, you will be ready to start trading on Swyftx’s platform.
Please note: The above does not cover a review of the Super Fund and Trustee Account Creation process.
How to Navigate
Swyftx’s platform is designed to be user-friendly and easy to navigate, even for beginners. Here’s a quick guide to help you navigate the platform:
- Dashboard: The dashboard is the first screen you will see after logging into your Swyftx account. It provides an overview of your portfolio, including your current holdings and their respective values.
- Buy/Sell: To buy or sell cryptocurrencies, click on the “Buy/Sell” tab in the top menu. From here, you can choose the cryptocurrency you want to buy or sell, enter the amount you want to trade, and select your preferred payment method.
- Trade History: To view your trade history, click on the “Trade History” tab in the top menu. This will display a list of your past trades, including the date, time, cryptocurrency, amount, and value.
- Advanced Trading: If you’re an experienced trader, you may want to use Swyftx’s advanced trading features. To access these features, click on the “Advanced Trading” tab in the top menu. Here, you can set stop-loss orders, limit orders, and more.
- Deposit/Withdraw: To deposit or withdraw funds, click on the “Deposit/Withdraw” tab in the top menu. From here, you can choose your preferred payment method and follow the prompts to complete the transaction.
- Settings: To access your account settings, click on the “Settings” tab in the top menu. From here, you can update your personal information, change your password, and set up two-factor authentication (2FA).
- Support: If you need help or have any questions, click on the “Support” tab in the top menu. From here, you can access Swyftx’s help center, contact customer support, or read the latest news and updates.
Swyftx’s platform is designed to be intuitive and user-friendly, with all of the features you need to trade cryptocurrencies easily and efficiently.
Swyftx is a leading cryptocurrency exchange platform in Australia that offers a wide range of features and benefits for both new and experienced traders. With a simple and user-friendly interface, competitive fees, and a wide range of supported cryptocurrencies, Swyftx is a great choice for anyone looking to buy or sell digital assets.
Swyftx also offers advanced trading features, such as stop-loss orders and limit orders, as well as a premium insurance account to help protect your investments. The platform also provides excellent customer support and educational resources to help users make informed trading decisions.
Swyftx is a reliable and trustworthy platform that offers a secure and convenient way to trade cryptocurrencies in Australia. Whether you’re a seasoned trader or just getting started with digital assets, Swyftx has everything you need to succeed in the world of cryptocurrency trading.