What is Swyftx
Swyftx is an Australian-based cryptocurrency exchange and leading trading platform founded in 2019 by Alex Harper and Angus Goldman.
The platform allows users to buy, sell, swap, and trade hundreds of crypto in a simplified and transparent way.
Pros and cons
Supports over 300 cryptocurrencies.
Supports multiple payment methods.
Best suited for Australians.
Lacks advanced trading options.
Several features enable the Swyftx platform to stand out. They include:
Swyftx is designed to meet the needs of beginners, intermediate, and advanced investors. Its web and mobile applications are super easy to use. It also features a quick sign-up and verification process.
The section has enough materials to educate new and experienced traders on the art of trading. Available information ranges from blockchain technology and decentralized finance (DeFi) to crypto investment strategies.
Swyftx users also benefit from staking. The service, introduced in 2021, allows users to earn interest on their coins by simply holding them in their accounts. Rewards are awarded in the same coins as the ones staked.
The feature, available for advanced traders, allows them to trade any cryptocurrency in their portfolio for another on their list. Coin swap transactions are, however, a bit pricey on the fee side.
The account allows users to trade crypto risk-free with demo funds that can be used to test key features of the exchange. The demo funds can be used to buy, sell, and trade the currencies listed on the exchange.
Other notable Swyftx features include portfolio tracking, recurring orders, tax reporting, real-time pricing, automatic buys and sells, crypto bundles, and a self-managed super fund.
The platform is backed by an impressive team of expert individuals. Alex Harper is its CEO and one of its co-founders. Angus Goldman is the CTO and another of its co-founder.
The platform’s senior leadership also includes Jason Titman, the Chief Operating Officer, Adam Percy, General Counsel, and Jusse Nunes, the Chief Financial Officer. Other team members include Ben Browne, Head of IT and cyber defense, Brooke White, head of design, and Gabby Lewis, Fraud manager.
Opening a user account on the Swyftx platform is free. There are also no charges for maintaining an account. There are no fees on AUD (fiat) deposits and withdrawals. The standard network mining fees are charged on crypto deposits and withdrawals. There is a 0.6% flat trading fee.
The exchange provides one of the best customer support services in the Australian cryptocurrency market. Users and customers can contact customer support via email, live chat, and phone.
Swyftx customer support responds promptly. Live chat and phone requests get solved within 2 to 3 minutes, while email requests take a maximum of one business day for a response. Live chat is available 24/7.
Swyftx has a mobile app available for Android and iOS devices. The app is as easy to use as its web version. Also, everything on the website is available on the mobile app. Users can easily buy, sell, trade, deposit, withdraw, and even use the demo account from the convenience of their phones.
Is Swyftx safe?
Considering how unsafe the crypto space is, there are many reasons to be wary of crypto projects. However, there are many reasons to be okay with using this exchange.
Firstly, it is highly secure. It’s considered the second most secure exchange in Australia after CoinSpot. It is ISO 27001 certified for information security and has a stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) process that protects customers from fraud.
Its security features include data encryption, two-factor authentication, penetration testing, biometric authentication, and least privilege and breached password detection. As a plus, its security team boasts over 50 years of experience building robust security measures and protecting customer data.
It is also worth noting that the platform has never been hacked since it began operations in 2019.
Swyftx is an impressive crypto exchange that is easy to use and highly secure. Its many features and low fees also make it a platform worth using.
However, it is a disappointment that the platform is best suited for the Australian and New Zealand market and not the global one. All in all, it is a reputable exchange that is worth looking into.
Author: Jay Jackson
Jay Jackson is a crypto trader, researcher and freelance writer. He works closely with people and businesses in the crypto sphere, writing blog posts, guides, press releases, reviews and ebooks.