Swyftx is a crypto exchange platform designed primarily for Australian investors, rolling out soon into other countries such as the UK. It is renowned for its low fees, support for multiple coins, empowering features, and user-friendly app. Designed with everyone in mind, Swyftx has built-in live chat support as well as tools to help when it comes to tax season.

In this article, we’ll as what is the Swyftx exchange and app, and explore the platform a little deeper.

What is Swyftx?

The Swyftx exchange was created by Alex Harper and Angus Goldman, lifelong entrepreneurs and school friends who noticed a gap in the crypto market. The pair wanted to create a crypto platform that was trustworthy, safe, fair, and adhered to Australian tax rules and cryptocurrency regulations.

Launched in 2018, the platform’s userbase has grown steadily with the company reinvesting in itself to improve usability, features, and coin offerings.

Despite this heavy investment, Swyftx has retained its famous low fees:

• Zero fees for deposit and withdrawal from fiat.
• Just 0.6% trading fees
• Spreads as low as 0.41%
• No additional crypto deposit and withdrawal fees

Who is Swyftx for?

The exchange is geared towards all demographics, irrespective of their experience trading cryptocurrencies.

Swyftx aims to be useful for both the inexperienced and experienced traders, with full adherence to laws and regulations, something that concerns a lot of would-be crypto investors.

Well-known for its reliability and genuinely low fees, Swyftx has become the platform of choice for professionals too. While there are other exchanges available, the suite of tools available on Swyftx such as the portfolio tracker and self-managed superfund makes it stand out from the crowd.

While Australia is the primary target audience, users in the UK, New Zealand, Canada, and soon India and Ireland can also create accounts.

Is Swyftx safe to use?

Yes, Swyftx is an extremely safe platform with both two-factor authentication, session expiry, and JSON web-token integration to enhance security. Swyftx has a built in software wallet for users but also allows the use of cold wallet storage with devices such as those from Ledger and Trezor.

The company behind Swyftx, known as Swyftx Pty Ltd (CN 623 556 730) is registered with AUSTRAC as a digital currency exchange provider (DCEP). The platform enforces strict know-your-customer (KYC) checks and monitors transactions to spot fraud and money laundering.

What can you trade on Swyftx?

As it stands, Swyftx has support for over 320+ cryptocurrencies to be bought, sold, and exchanged. Including BTC, ETH, XRP, SOL, ALGO and many more.

Swyftx also has a demo (or “paper”) mode which allows you to practice trading before doing the real thing.

Is Swyftx cheap?

Swyftx stands as one of the cheapest crypto exchanges in the world.

The platform uses a flat-rate system where traders are charged a fee of 0.6% per transaction. This makes things a lot easier for new investors with no separate maker and taker fees. In addition, Swyftx also features some of the lowest spread around with a low of 0.41%.

This structure differs from other exchanges such as Coinbase where a maker and taker fee is introduced. This results in larger fees for the customer making Swyftx one of the most attractive platforms available for those who are not trading enough to enjoy professional level discounts from exchanges.

How can I use Swyftx?

You can access Swyftx through the desktop website, with the rollout to countries other than Australia happening gradually. Alternatively, you can also use the Swyftx mobile app from the Google Play Store, or the Apple App Store.