What is Swyftx?
If you’re based in Australia and looking to dip your toes into crypto, you’ve probably heard of Swyftx. I’ve tried quite a few exchanges, and I keep coming back to Swyftx — and it seems like I’m not alone. It’s got thousands of glowing reviews on Trustpilot, and for good reason.
The platform itself is super easy to use, which is a big plus whether you’re a total newbie or someone who’s been around crypto a while. You can trade over 422 different coins, it’s AUSTRAC-registered (so it ticks the regulatory boxes), and fees are reasonable — both trading fees and spreads.
They launched in 2018 and have built up a solid reputation since. You’ll find a mobile app and desktop version that both work smoothly, plus 24/7 live chat support, which comes in handy if you have an issue at 11pm on a Sunday. There’s also a demo account if you want to play around with fake money first to get used to the idea of crypto trading. To top it all off, you receive FREE $20 BTC just for signing up if you use this special link.
My Overall Thoughts on Swyftx
If someone asked me which crypto exchange to use in Australia, Swyftx would be one of the first names out of my mouth — especially for beginners or intermediate traders. Here’s why:
1) Trust Factor Is High
The platform’s well-reviewed (4.6 stars on Trustpilot from thousands of users), plus it has ISO 27001 certification — that’s the international gold standard for data security. They’ve even teamed up with TRM Labs to help spot scams and fraud. I definitely feel like my funds are safe here.
2) It’s Great for Learning
Swyftx actually rewards you with free crypto just for doing short online Learn & Earn courses. I’ve done a couple; they’re quick, easy, and you get a little crypto at the end. Perfect if you're new and want to learn the ropes without diving into Reddit rabbit holes. Swyftx is also one of the only Australian crypto exchanges with a demo mode for hands-on learning.
3) Good for SMSFs (If You’re Thinking Retirement)
This won’t be for everyone, but if you’re setting up a Self Managed Super Fund to invest in crypto, they can help get that sorted in under a day. It’s a niche thing, but worth knowing.
Now, there are some things Swyftx doesn’t do. If you’re into more advanced features like margin trading, derivatives, or using trading bots, this isn’t the platform for that. But honestly, they’re not trying to be an all-in-one crypto trading powerhouse. They’re more about making crypto easy and accessible for the average Aussie, and they've done a great job of it.
Reviews from other users
Overall Feedback: Excellent
Really impressed with how smooth everything runs on Swyftx. From sign-up to my first trade, it was all super fast and easy to follow
swyftx learn section helped me understand crypto way better. feels good to use a platform that actually educates you too
App works fine but I’d like to see more advanced charting tools built in. Gotta flip to TradingView to do deeper analysis.
Pretty decent overall but the spreads can be a bit wide sometimes. Still worth it for the ease of use tho.
Their tax reporting tools make end-of-year way easier. Everything’s right there and you can export to CSV.
I like that they’ve got good security without making everything annoying. 2FA works and I always get login alerts
Great range of coins and they keep adding more. I’ve found a few lower-cap ones that weren’t even on Binance yet.
Customer service on Swyftx is top notch. They actually reply fast and helped me sort a transfer issue without stress.
I like how fast I can deposit and withdraw to my Aussie bank. No delays or random holds like I’ve had with others
Swyftx is honestly one of the easiest platforms I’ve ever used. Super beginner friendly and the dashboard is clean.
Leave your own review
Key Features & Advantages of Swyftx
Here are a snapshot of Swyftx's best features that have led to it quickly becoming one of Australia's most popular crypto exchanges:
Negatives & Disadvantages of Swyftx
While Swyftx is an excellent exchange for many users, there are a couple of points to keep in mind when deciding whether this platform is the best choice for you:
Comparison Table of the Best Crypto Exchanges in Australia
What Swyftx Offers
If you’ve been comparing crypto exchanges in Australia, you’ll know there’s no shortage of options out there — and each platform comes with its own set of pros and cons. After using a bunch of them myself, I can say Swyftx stands out in a few areas that actually matter, especially for everyday investors like you and me.
Buy Crypto Instantly with AUD (No Annoying Conversion Fees): One of the best parts about using Swyftx? You can buy crypto directly in Aussie dollars. Sounds simple, but trust me, this saves you heaps of hassle (and money). A lot of international exchanges force you to convert AUD to USD first — and between poor conversion rates and extra fees, it adds up fast.
With Swyftx, you can skip all that. Just deposit using PayID, OSKO, bank transfer, even a card if you want — and there are zero deposit or withdrawal fees. Doesn’t matter which method you choose. That means more of your money goes into crypto, instead of getting chewed up by fees before you even start.
Learn and Earn – Get Paid to Get Smarter: I really like this next one. Swyftx is big on crypto education, and they actually pay you in crypto just for doing a few short courses. It’s called “Learn and Earn”, and it’s the only Aussie exchange doing anything like this right now.
I gave it a go myself — the courses are bite-sized and genuinely beginner-friendly. I wrapped up my first one in under 15 minutes. At the end, you take a little multiple-choice quiz, and if you score at least 80%, you get $5 FREE BTC. If you don’t pass, no biggie — you can retry the next day. It’s a great way to learn the basics without having to dive into complicated Reddit threads or YouTube rabbit holes.
Clean, Customisable Interface (With Demo Mode): Even if you’ve never traded crypto before, Swyftx won’t make you feel out of your depth. The layout is clean and modern — no confusing menus or information overload. And if you just want to test the waters before jumping in with real money, they’ve got a Demo Mode where you can practise trading with fake funds.
But it’s not just for beginners. More experienced users will appreciate that you can customise your dashboard to show only what matters to you — prices, portfolio balance, watchlists, whatever you like. I’ve tweaked mine to give me a quick snapshot of the coins I care about most.
Recurring Buys & Crypto Bundles (Set It & Forget It): If you’re the type of person who likes to automate things (like I do), Swyftx has a couple of handy features that make life easier — Recurring Orders and Bundles.
Recurring Orders let you automatically invest in crypto on a schedule — say, $50 every week into Bitcoin. This kind of dollar-cost averaging (DCA) strategy is great if you don’t want to worry about timing the market (which, let’s be honest, most of us are pretty bad at).
Then there are Bundles — basically pre-packaged groups of coins you can invest in with one click. There are nine bundles to choose from, but I’m a fan of the “Top 10 by Market Cap” one. It splits your investment evenly across the ten biggest coins, so you’re not putting all your eggs in one basket.
Huge Range of Cryptos (Over 422 Coins and Counting): Swyftx supports over 422 cryptocurrencies — which is a lot, especially for an Aussie platform. You’ve got all the big names like Bitcoin, Ethereum, and XRP, but they also offer a ton of altcoins. Some of them you might not have heard of yet, but that’s part of the appeal.
Even if you’re only planning to stick to the main coins for now, it’s handy to have that variety down the line. If you ever want to try your luck with a newer or niche project, you won’t need to sign up to another platform just to access it.
Proper 24/7 Live Chat Support (With Real People): Customer support is one of those things you don’t think about until something goes wrong — and then you really need it. I’ve tested Swyftx’s support a few times, and I have to say, it’s genuinely solid.
They’ve got 24/7 live chat, which is rare enough in the crypto space. You’ll start by chatting with a bot (which actually answers a bunch of basic stuff), and if that doesn’t cut it, you can get through to a real person. When I tried it, I was connected in about 11 minutes, and the support rep knew their stuff. No canned responses — just straight, helpful answers. I’d rate the experience a strong 9.5/10 in my real-world test, and you can see how I scored this here.
Mobile App for Android & iOS (Trade On the Go): The Swyftx app is one of the better ones I’ve used. It doesn’t just let you check prices — you can do everything you can on the desktop version: buy, sell, trade, deposit, withdraw, even play around in Demo Mode.
It’s intuitive and runs smoothly, which makes it easy to keep an eye on your portfolio during the day — whether you're at work, on the couch, or halfway through a long commute.
Security First: Let’s be honest, the crypto world can feel pretty sketchy at times — especially after big exchange collapses like FTX. That’s why security is a huge deal for me.
Swyftx takes it seriously. They’ve got things like session expiry, biometric logins, two-factor authentication (which they encourage), breached password detection, and regular penetration testing. They also work with third-party security auditors to stay on top of vulnerabilities.
On top of all that, they’re ISO 27001 certified — which is basically the highest international standard for data security. Plus, they hold all customer funds 1:1, so everything is in full reserve. If you want, you can even move your crypto into a self-custody wallet for extra peace of mind.
FREE $20 of Bitcoin Signup Offer: Swyftx has a great offer for new customers. If you sign up and verify your account, you will receive $20 of Bitcoin for free! It only takes a few minutes to sign up and verify, and then you will be rewarded your first cryptocurrency, free! Click here to claim the offer now.
What I Don't Like About Swyftx
Despite all the positives, Swyftx isn’t perfect. Here are a couple of things I don’t love:
No Advanced Trading Features: If you’re a serious trader looking for futures or margin trading, you’ll want to look elsewhere. Swyftx just doesn’t offer those tools. Some top crypto trading platforms that I recommend are Bybit or MEXC.
No Staking or Earn Options: Swyftx used to let you earn interest on your crypto by staking, but they pulled that feature while they wait on clarity from regulators. Bit of a shame, but hopefully it comes back. If you are looking for a crypto exchange to stake your coins, see my guide here.
Fees & Spreads
This is where a lot of users decide whether or not to use a crypto exchange. Here’s the breakdown for Swyftx:
- Deposit Fees: Free — no matter how you fund your account.
- Withdrawal Fees (AUD): Also free.
- Crypto Withdrawals: Just the standard network mining fee, no extra charges from Swyftx.
- Trading Fees: 0.6% flat rate — not the cheapest out there, but fair. You can also access lower trading fees based on your trading volume.
- Spreads: Around 0.51% on average in my testing, which was much lower than competitors CoinSpot and Crypto.com.
Pros and Cons of Swyftx
- Credit and debit card deposits accepted
- Simple and user-friendly interface
- All customer funds held 1:1 and all asssets in 100% full reserve
- Over 422+ cryptocurrencies available
- Earn free crypto by completing simple online courses
- No advanced trading markets
- Staking crypto is no longer supported
Verdict
Swyftx is a top pick if you're an Aussie getting started with crypto, or even if you're a bit more experienced but still want a clean, no-fuss platform. The interface is great, the fees are low, and the features (like Learn & Earn or Recurring Buys) make it really beginner-friendly.
Sure, it's not for hardcore traders — but it doesn't pretend to be. And the fact that they give you $20 of free Bitcoin when you sign up and verify? Can’t complain about that.
If you want to compare Swyftx with other Australian crypto exchanges, I actually did a test where I signed up to a few different Aussie exchanges, deposited $100 into each, bought and sold BTC, and tracked exactly how much money I lost to fees and spread. That was a real eye-opener — and Swyftx came out near the top. Worth checking out if you're weighing your options.
Frequently Asked Questions
Yep, totally. Swyftx is a fully legit Australian crypto exchange that’s been around since 2017. It’s licensed and regulated, and it’s registered with AUSTRAC — that’s the Australian government body that monitors financial crime and keeps things above board. There are over 630,000 users on Swyftx's platform, and they’ve even picked up ISO 27001 certification, which is a big deal in the cybersecurity world. That means they’ve passed some pretty strict audits to keep user data safe.
In my experience — yes, very. Swyftx has a solid security setup. They use things like two-factor authentication, biometric logins, and they even scan for breached passwords to keep your account secure. They also work closely with Chainalysis (one of the biggest names in blockchain forensics) to help fight scams and shady activity. Plus, they’ve got a full Cryptocurrency Security Guide on their site if you want to level up your own protection.
Not exactly — it’s first and foremost a crypto exchange, where you buy and sell coins. That said, they do have a wallet app you can download on iOS or Android. It supports Bitcoin, Ethereum, Litecoin, and over 400 other cryptos. So if you’re not ready to dive into third-party wallets just yet, Swyftx's built-in wallet is a decent option to get you started.
I’d say yes — Swyftx has been around since 2017, they’ve got hundreds of thousands of users, and they consistently get high ratings on review sites like Trustpilot. They also hold customer assets 1:1, which basically means your funds aren’t being loaned out or put at risk behind the scenes. You can withdraw your crypto anytime, no dramas. And again, that ISO 27001 certification? That’s the cherry on top when it comes to data and security standards.
Yes, Swyftx is fully regulated here in Australia. It’s registered with AUSTRAC, which helps crack down on things like money laundering and financial crime in the crypto space. They stick to all the usual KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements — so when you sign up, expect to go through some ID checks. It's all part of keeping the platform safe and compliant.
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