Affiliate link. Crypto is volatile — you may lose money. Not financial advice.
Key Stats
Pros & Cons
Pros
- Credit and debit card deposits accepted
- Simple and user-friendly interface
- All customer funds held 1:1 in full reserve
- Over 440+ cryptocurrencies available
- Earn free crypto by completing online courses
- Free AUD deposits and withdrawals
- 24/7 live chat with real people
- Demo mode for beginners
Cons
- No advanced trading markets (futures, margin)
- 0.6% fee is not the cheapest available
What Is Swyftx?
If you're based in Australia and looking to get into crypto, you've probably heard of Swyftx. It launched in 2018 out of Brisbane and has quickly grown to over 630,000 users. The platform is AUSTRAC-registered, meaning it complies with Australia's anti-money laundering and counter-terrorism financing regulations.
Swyftx has built its reputation on being simple and accessible. You can trade over 440 different coins, deposit for free using PayID, OSKO, bank transfer or card, and access 24/7 live chat if anything goes wrong. There's also a demo account if you want to practise with virtual funds first.
My Overall Thoughts
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 has 4.6 stars on Trustpilot from thousands of users, plus ISO 27001 certification — the international gold standard for data security. They've teamed up with TRM Labs to help spot scams and fraud. Customer funds are held 1:1 in full reserve.
2. It's Great for Learning
Swyftx rewards you with free crypto for completing short Learn & Earn courses. The courses are bite-sized and beginner-friendly — I completed my first one in under 15 minutes. Score at least 80% on the quiz and you get $5 in free BTC. Swyftx is also one of the only Australian exchanges with a demo mode for hands-on learning.
3. Good for SMSFs
If you're setting up a Self Managed Super Fund to invest in crypto, Swyftx can help get that sorted in under a day. A niche feature, but worth knowing about.
There are things Swyftx doesn't do — if you're after margin trading, derivatives, or trading bots, this isn't the platform for that. But they're not trying to be an all-in-one crypto trading powerhouse. They're focused on making crypto easy and accessible for the average Aussie, and they've done a great job of it.
Key Features
Buy Crypto Instantly with AUD
You can buy crypto directly in Australian dollars — no forced USD conversion. Deposit using PayID, OSKO, bank transfer, or card with zero deposit or withdrawal fees on any method. More of your money goes into crypto instead of being eaten by fees.
Learn and Earn — Get Paid to Learn
Swyftx pays you in crypto for completing short online courses. It's called Learn and Earn, and it's the only Aussie exchange doing anything like this. Courses are bite-sized and genuinely beginner-friendly. At the end, take a quiz — score 80% or above and you receive $5 in free BTC.
Clean 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. And if you want to test the waters before using real money, there's a Demo Mode with virtual funds. More experienced users can customise the dashboard to show only what matters — prices, portfolio balance, watchlists.
Recurring Buys & Crypto Bundles
Recurring Orders let you automatically invest on a schedule — say, $50 every week into Bitcoin. This dollar-cost averaging approach is great if you don't want to worry about timing the market.
Bundles are pre-packaged groups of coins you can invest in with one click. There are nine to choose from — I like the "Top 10 by Market Cap" one, which splits your investment evenly across the ten biggest coins.
440+ Cryptocurrencies
Swyftx supports over 440 coins — Bitcoin, Ethereum, XRP, plus a huge range of altcoins. Even if you're sticking to the big names for now, having that variety means you won't need to sign up elsewhere if you want to explore newer projects later.
24/7 Live Chat Support
Swyftx offers 24/7 live chat — rare in the crypto space. You start with a bot that handles basic questions, then you can get through to a real person. In my test, I was connected in about 11 minutes. The support rep was knowledgeable with no canned responses. I'd rate the experience 9.5/10.
Mobile App (iOS & Android)
The Swyftx app lets you do everything the desktop version does — buy, sell, trade, deposit, withdraw, and use Demo Mode. It's intuitive and runs smoothly.
Security
Swyftx uses session expiry, biometric logins, two-factor authentication, breached password detection, and regular penetration testing. They work with third-party security auditors and are ISO 27001 certified — the highest international standard for data security. All customer funds are held 1:1 in full reserve. You can also move crypto to a self-custody wallet for extra peace of mind.
For more detail, see Swyftx's security page.
What I Don't Like
No Advanced Trading Features
If you're a serious trader looking for futures or margin trading, you'll want to look elsewhere. Swyftx doesn't offer those tools. Alternatives for advanced traders include Bybit or MEXC.
Fees & Spreads
Fees are a key factor when choosing an exchange. Here's the breakdown for Swyftx:
| Fee Type | Amount |
|---|---|
| AUD Deposits | Free (all methods) |
| AUD Withdrawals | Free |
| Crypto Withdrawals | Standard network mining fee only (no Swyftx surcharge) |
| Trading Fee | 0.6% flat rate (volume discounts available) |
| Spreads | ~0.51% average (in our testing — lower than CoinSpot and Crypto.com) |
Fees accurate as of February 2026. Always verify current fees on the Swyftx website.
How Does Swyftx Compare?
| Feature | Swyftx | CoinSpot | Bybit | Digital Surge | Coinstash |
|---|---|---|---|---|---|
| Trading Fee | 0.6% | 0.1%–1% | 0.1% | 0.1%–0.5% | 0.85% |
| Coins | 440+ | 530+ | 280+ | 400+ | 1,000+ |
| Fiat | AUD, NZD | AUD | AUD + more | AUD | AUD |
| Deposits | PayID, OSKO, Bank, Card | PayID, Bank, Card, Cash | Card, Apple Pay, PayID | PayID, Bank | Bank, PayID |
| Deposit Fee | Free | Free | Free | Free | Free |
| AUSTRAC | Yes | Yes | No | Yes | Yes |
Comparison reflects our editorial assessment. Fees and features may change — always verify with the exchange.
Open Swyftx Account →Affiliate link. Crypto is volatile — you may lose money. Not financial advice.
Frequently Asked Questions
Is Swyftx legit?
Is Swyftx safe to use?
Is Swyftx a crypto wallet?
Can Swyftx be trusted?
Is Swyftx regulated?
Our Verdict
In my view, Swyftx is a solid choice if you're an Aussie getting started with crypto, or if you want a clean, no-fuss platform. The interface is great, deposits are free, and features like Learn & Earn and Recurring Buys make it really beginner-friendly.
It's not for hardcore traders — but it doesn't pretend to be. And receiving $20 of free Bitcoin when you sign up and verify your ID is a nice bonus.
If you want to compare Swyftx with other Australian exchanges, check out our full comparison of the best crypto exchanges in Australia.
The above is general guidance only and does not constitute personal financial advice. Consider your own circumstances before making any investment decisions.
Affiliate link. Crypto is volatile — you may lose money. Not financial advice.
