Swyftx Review 2024

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Revisor

Last update: 1 year ago

Our veredict

Swyftx is an Australian-based cryptocurrency exchange known for its user-friendly interface and extensive range of supported cryptocurrencies, making it a popular choice for both beginners and experienced traders. The platform excels in providing a seamless user experience with easy navigation and quick access to trading features, which is a significant plus for those new to the crypto space. Additionally, Swyftx offers competitive fees and robust security measures, including two-factor authentication and biometric logins, which enhance user trust and safety.

However, Swyftx faces limitations with its international availability, primarily catering to Australian residents, which may not appeal to global users. Another concern is the platform’s market spread, which can be higher compared to larger international exchanges, potentially affecting the profitability of trades for its users. These aspects, while not overshadowing the platform’s strengths, could be decisive for users with specific needs or those operating outside of Australia.

Pros

Cons

Investing risks losing your money

Threenvest Score

Fees

0,06%

U.S Legal

With the confidence of Threenvest

Year Founded: Since its establishment in 2018, Swyftx has quickly grown to become a key player in the Australian cryptocurrency market. This rapid growth and sustained presence highlight its stability and enduring appeal to users.

Number of Users: Swyftx boasts a large user base, which is a testament to its popularity and trustworthiness. A significant number of users also suggests a high level of satisfaction and reliability.

Security Methods: Swyftx employs robust security measures including two-factor authentication (2FA), biometric logins, and custom withdrawal whitelist settings. These features ensure that users’ funds and data are protected against unauthorized access.

Trading Volume and Liquidity: The exchange has a high trading volume and liquidity which ensures that users can buy and sell their assets easily without a significant impact on the prices, which is crucial for both new and experienced traders.

Reputation and Reviews: Swyftx has garnered positive reviews for its user-friendly interface, responsive customer service, and transparent fee structure. Its reputation within the Australian market is strong, with many users recommending it for both beginners and experienced traders.

Best Crypto Exchanges

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About Swyftx

Swyftx: An Australian Gem in Cryptocurrency Trading

Swyftx, launched in 2018, quickly distinguished itself as a leading cryptocurrency exchange in Australia. It was developed with a vision to simplify the often complex world of cryptocurrency trading for Australians, aiming to provide a comprehensive yet straightforward platform for both new and seasoned traders.

What is Swyftx? Swyftx is a cryptocurrency exchange platform that facilitates the buying, selling, and trading of a wide range of cryptocurrencies. It’s designed to streamline users’ experience, offering features such as real-time price tracking, automated trading, and portfolio management tools.
Background and History Founded in Brisbane, Australia, Swyftx was established with the intent to address gaps in the Australian cryptocurrency market, particularly around customer service, fees, and user experience. Since its inception, the platform has grown significantly, now boasting a large number of users and high trading volumes, which speaks to its increasing popularity and reliability.
Founders Swyftx was co-founded by Alex Harper and Angus Goldman. Harper, with a background in software engineering and a passion for crypto, brought technical expertise to the platform’s development, while Goldman, with experience in finance, ensured the platform aligned with market needs and regulatory standards. Their combined skills have driven Swyftx’s success in the competitive crypto exchange market.
Interesting Fact One fun fact about Swyftx is that despite its rapid growth and scale, the platform has maintained its commitment to environmental sustainability, implementing green policies and supporting renewable energy projects, setting it apart in an industry often criticized for its environmental impact.

This blend of local focus, innovative features, and commitment to sustainability and security makes Swyftx a noteworthy platform in the cryptocurrency trading scene, particularly for Australian users.

Why Choose Swyftx?

Choosing Swyftx as your cryptocurrency exchange is a wise decision, especially if you are based in Australia or prefer an exchange that combines user-friendliness with robust functionality. Firstly, Swyftx’s interface is remarkably intuitive, making it easy for newcomers to navigate the complex world of cryptocurrency trading. This ease of use, paired with comprehensive educational resources, ensures that users are well-supported throughout their trading journey.

Secondly, Swyftx offers a wide array of cryptocurrencies, providing users with the flexibility to trade across multiple assets, which is ideal for those looking to diversify their portfolios. Additionally, the platform’s competitive fees make it an economical choice, reducing the cost barrier for frequent trading.

Lastly, security is a top priority at Swyftx. With state-of-the-art security measures like two-factor authentication and biometric logins, users can trade with confidence, knowing their investments and personal information are well-protected. This focus on security, combined with a strong customer support system, makes Swyftx a reliable and trustworthy platform for engaging with digital assets. Whether you’re a beginner or a seasoned trader, Swyftx offers a solid foundation for your trading activities.

Where it falls short

Two areas where Swyftx could enhance its offerings further are its market spread and advanced trading tools. Firstly, the market spread on Swyftx is noted to be higher than some of its larger international competitors. This can affect the profitability of trades as users may find themselves paying slightly more on each trade relative to other platforms. To improve this aspect, Swyftx could work on narrowing its spreads by enhancing liquidity and possibly integrating deeper liquidity pools to ensure more competitive pricing for its users.

Secondly, while Swyftx is highly praised for its user-friendly interface and is well-suited for beginners, it lacks some of the advanced trading tools and features that more experienced traders look for. These include more sophisticated charting tools, algorithmic trading options, and a wider range of order types. Improving in this area could involve developing additional features that cater to the needs of professional traders without compromising the platform’s simplicity and ease of use for new users. By addressing these aspects, Swyftx could not only retain its current user base but also attract a broader audience, enhancing its market position further.

Features	Explanation
Minimum Trade	Swyftx allows for relatively low minimum trades, making it accessible for beginners who wish to start small.
Trading and Transaction Fees	The platform has competitive fees, lower than many of its local competitors, though slightly higher than global exchanges.
Number of Cryptocurrencies	Swyftx offers a wide selection of cryptocurrencies, catering to traders interested in both popular and less-known coins.
Crypto-to-Crypto Trading Pairs	Offers a robust range of trading pairs, enabling flexible trading strategies across various digital assets.
Website Transparency	The Swyftx website provides clear, detailed information on fees, policies, and trading options, aiding users in making informed decisions.
Credit/Debit Card	The Swyftx crypto debit card seamlessly converts cryptocurrencies to fiat for easy everyday transactions, with added benefits such as reward points on purchases.
Storage Offering	Provides secure storage options, though it’s always recommended users keep large amounts in personal wallets for added security.
Staking and Rewards	Offers staking options but with fewer choices and rewards compared to leading competitors.
Mobile App and Desktop	Both mobile and desktop platforms are highly rated for their user-friendly interfaces and functionality.
Customer Service	Generally responsive and helpful customer service, but peak times can see slower responses.
Deposit and Withdraw	Deposits and withdrawals are generally efficient, though some users report delays during high-demand periods.

Investing risks losing your money

Xavier Tarrasó

EIP and Cryptocurrency Investor

As a cryptocurrency investment analyst, I find Swyftx to be an excellent choice for those new to the crypto market or looking for a user-friendly trading experience. The platform offers a wide range of cryptocurrencies and has a straightforward, easy-to-navigate interface that simplifies trading. While it could improve its offerings for more seasoned traders by adding advanced trading tools, for most users, Swyftx provides a reliable and secure environment to start their cryptocurrency investment journey. If you’re based in Australia, I highly recommend considering Swyftx as your go-to exchange.

Fees

Swyftx charges a competitive trading commission which is built into the spreads, typically around 0.6%, making it quite transparent and straightforward. The platform does not charge any deposit or withdrawal fees for AUD transactions, which is a notable advantage for local users. Additionally, Swyftx keeps its fee structure uncomplicated with no hidden charges, allowing traders to easily understand what they will pay when executing trades on the platform.

Pros

Competitive Spread Fees: Swyftx's spread of about 0.6% is built into the trading prices, simplifying the fee structure and enhancing transparency.
No Deposit or Withdrawal Fees: For Australian dollar transactions, Swyftx does not charge any fees, which can lead to substantial savings, especially for frequent traders.
Transparent Fee Structure: Swyftx is upfront about its fee structure, eliminating any hidden costs and allowing traders to manage their funds more effectively.

Cons

Higher Spreads Compared to Global Averages: While competitive locally, Swyftx's spreads can be higher than those offered by some international exchanges, potentially impacting high-volume traders.
Lack of Fee Reduction for High-Volume Traders: Unlike some platforms that offer discounts for high trading volumes, Swyftx maintains a flat fee structure regardless of the amount traded.

Product selection

Swyftx offers a comprehensive suite of services and products tailored to meet the needs of diverse cryptocurrency traders. The platform provides an extensive range of trading options across various cryptocurrencies, making it a versatile choice for both buying and selling digital assets. Notably, Swyftx supports fiat-to-crypto transactions, allowing users to directly deposit AUD, NZD, and USD, enhancing accessibility for beginners. Additionally, the exchange features advanced trading tools such as stop-loss, limit orders, and recurring orders, which facilitate sophisticated trading strategies. Swyftx also offers features like staking, which allows users to earn rewards on their holdings, adding an extra layer of potential income for investors.

Pros

Extensive Cryptocurrency Selection: Swyftx supports a broad range of cryptocurrencies, from mainstream to niche, providing versatile trading opportunities.
User-Friendly Interface: Ideal for new entrants to the cryptocurrency market, the platform is designed for ease of use.
Additional Features Beyond Trading: Offers staking, a crypto debit card, and educational resources, enhancing the overall investment experience.

Cons

Read more about product selection in Swyftx

Swyftx is a versatile cryptocurrency exchange that offers a wide array of services and products designed to cater to both new and experienced traders. Here’s an extensive look at what Swyftx has to offer:

Trading Options and Financial Products

Swyftx supports a vast range of cryptocurrencies for trading, including major coins like Bitcoin and Ethereum, as well as a variety of altcoins. The platform enables both fiat-to-crypto and crypto-to-crypto transactions, providing users with flexibility in their trading strategies. For traders interested in leveraging their positions, Swyftx offers leveraged tokens, allowing for magnified exposure to price movements without the need for a traditional margin account.

Debit Card and Payment Solutions

To bridge the gap between digital currencies and everyday transactions, Swyftx offers a crypto debit card, allowing users to spend their cryptocurrency holdings directly, converting crypto to fiat in real-time for purchases.

Staking and Earning Rewards

Users looking to earn passive income can take advantage of Swyftx’s staking options. By staking their crypto assets, users can earn rewards, similar to earning interest in a traditional savings account.

Educational Resources and Support

Swyftx is committed to supporting its users’ journey in the crypto world. It provides a comprehensive learning center that includes guides, articles, and tutorials aimed at educating users about various aspects of cryptocurrency trading and investment.

API and Technical Tools

For more technical users, Swyftx offers a robust API that enables automated trading strategies, making it an ideal choice for algorithmic traders. The platform integrates seamlessly with popular trading view platforms, enhancing the analytical capabilities available to users.

Additional Features

Leverage and Derivatives: Users can engage in derivatives trading, which includes futures and options, providing ways to hedge or speculate on cryptocurrency prices.
Wallet Services: Swyftx provides secure wallet services, allowing users to store their cryptocurrencies safely on the platform.
Liquid Swap: For users interested in liquidity provision and yield farming, Swyftx offers liquid swap features, enabling participation in liquidity pools.
Launchpad: The platform occasionally features a launchpad for new tokens, providing users early access to emerging cryptocurrencies.
Promotions and Referral Codes: To attract and retain users, Swyftx runs various promotions and offers referral benefits to users who introduce new customers to the platform.

Each of these services and products is designed with the user in mind, aimed at enhancing the trading experience and providing value through a variety of investment opportunities and tools. For anyone starting out or looking to expand their cryptocurrency engagement, Swyftx offers a well-rounded and accessible platform.

Account opening

Opening an account with Swyftx is designed to be straightforward and efficient, catering especially to newcomers in the cryptocurrency space. The process begins with a simple online registration form where new users are required to provide basic personal information such as name, email address, and phone number. Following this initial step, Swyftx requires identity verification to comply with Australian regulatory standards; this is typically conducted through an automated KYC (Know Your Customer) system that verifies identities quickly, often within minutes. Once verified, users can immediately start funding their accounts using various methods including bank transfers, POLi, PayID, or even credit/debit cards, setting them up to begin trading almost instantly. This streamlined process ensures that new traders can navigate setup and begin trading with minimal hassle.

Pros

Quick automated verification: Streamlines the setup, allowing users to start trading rapidly.
Multiple deposit methods: Offers flexibility in funding accounts, including bank transfers and credit cards.
User-friendly interface: Simplifies navigation for new users, making the initial setup less daunting.

Cons

Read more about account opening in Swyftx

Opening an account on Swyftx and diving into the world of cryptocurrency is a straightforward and user-friendly process, designed to accommodate both beginners and experienced traders. Here’s a detailed guide on how to get started:

How to Sign Up on Swyftx

Visit the Swyftx Website: Start by navigating to the Swyftx homepage.
Create an Account: Click on the ‘Register’ button. You’ll be prompted to enter your email address, create a password, and provide your mobile number.
Email and Mobile Verification: Verify both your email and mobile number through the codes sent to each.
Complete Your Profile: Fill out your personal details including your name and date of birth.
Identity Verification: Complete the KYC process by uploading government-issued ID documents and possibly a proof of address. Swyftx uses an automated system, which typically verifies your identity within minutes.

Opening An Account

Initial Deposit: Once your account is set up and verified, you can make your first deposit using various methods such as bank transfer, POLi, PayID, or credit/debit cards.
Security Settings: It’s advisable to set up additional security measures such as two-factor authentication (2FA) right after opening your account to enhance security.

How to Buy Your First Cryptocurrency

Fund Your Account: Ensure your account has funds to purchase cryptocurrency. Choose your preferred deposit method and follow the prompts to add money to your account.
Navigate to the Trading Interface: Once your funds are deposited, go to the trading section of the platform.
Select the Cryptocurrency: Choose the cryptocurrency you wish to buy from the list of available options.
Execute Your Order: Enter the amount of the cryptocurrency you want to buy and execute the purchase order.

Account Types

Swyftx offers different account types depending on user needs, including:

Basic Account: For beginners, with straightforward trading options.
Advanced Account: For more experienced traders, offering more complex trading tools and higher limits.

How to Use Swyftx?

Trading: Use the trading interface to buy, sell, and trade cryptocurrencies.
Portfolio Management: Monitor your investments and analyze performance through the dashboard.
Staking: Participate in staking directly through the platform to earn rewards on your holdings.

Registration and KYC

The KYC process is crucial for compliance with financial regulations, aiming to prevent fraud and ensure the security of transactions on the platform. This process is typically swift and automated, designed to be as unobtrusive as possible. By following these steps, you can set up your Swyftx account and start trading cryptocurrencies efficiently and securely. Remember, the key to successful crypto trading lies in ongoing learning and careful management of your investments.

Security

The security section of Swyftx is robust, emphasizing the protection of user assets and data as a top priority. Swyftx implements a variety of security measures including two-factor authentication (2FA), biometric identification for mobile app users, and custom withdrawal whitelists that enhance the security of user accounts. These features are designed to prevent unauthorized access and ensure that user funds remain safe from potential cyber threats. Additionally, Swyftx complies with Australian regulatory requirements, including the Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations, further securing the platform and its users from financial crimes. This focus on security makes Swyftx a trustworthy platform for handling cryptocurrency transactions and investments.

Pros

Robust Authentication Methods: Incorporates two-factor authentication and biometric logins to enhance account security.
Regulatory Compliance: Adheres to Australian AML and CTF regulations, ensuring operational integrity and user protection.
Custom Withdrawal Whitelists: Allows users to designate specific withdrawal addresses, adding an extra layer of security.

Cons

Is Swyftx Legit?

Swyftx is indeed a legitimate cryptocurrency exchange that operates with full compliance under Australian laws. It adheres to stringent regulatory standards, ensuring a secure and reliable trading environment for its users.

Regulation and Licensing

Swyftx is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre), aligning with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This compliance underscores its dedication to upholding legal and ethical standards, protecting users and their investments.

Is Swyftx Safe?

Swyftx prioritizes security through several robust measures:

Two-Factor Authentication (2FA): Adds an extra layer of security by requiring a second form of verification in addition to the password.
Biometric Logins: Enhances security on mobile devices, allowing users to access their accounts with fingerprint or facial recognition.
Custom Withdrawal Whitelists: Users can specify allowed withdrawal addresses, which prevents funds from being sent to unauthorized addresses.
Cold Storage: A significant portion of user funds is stored in cold storage, which is disconnected from the internet and thus highly secure against hacking attempts.

Security Methods

In addition to the above, Swyftx uses encryption to protect user data and communications. Regular security audits are conducted to identify and rectify vulnerabilities, ensuring the platform’s defenses remain robust against new threats.

Security History

Swyftx has maintained a clean security record with no major hacks or security breaches reported. This history reinforces its reputation as a secure platform.

Conclusion

Swyftx’s commitment to security is evident in its comprehensive measures and regulatory compliance. The platform’s proactive approach in safeguarding user assets and data makes it a highly secure option for trading cryptocurrencies. While it continues to uphold high security standards, like any digital platform, users should remain vigilant and utilize all available security features to protect their accounts.

Customer service

Swyftx places a strong emphasis on customer service, recognizing its critical role in user satisfaction and platform reliability. The exchange offers a comprehensive support system designed to assist users effectively and efficiently. Key features include a detailed FAQ section that covers a wide range of topics, live chat support, and email assistance, ensuring that users can find help whenever they need it. Additionally, Swyftx is known for its responsive customer service team, which is praised for being knowledgeable and prompt in addressing user queries and issues. This robust customer support framework is essential for maintaining trust and user satisfaction, especially in the dynamic and sometimes complex world of cryptocurrency trading.

Pros

Responsive Live Chat Support: Offers immediate assistance, enhancing user satisfaction and support accessibility.
Comprehensive FAQ Section: Extensively covers common queries and issues, providing users with quick self-help options.
Knowledgeable Support Team: Well-trained personnel are capable of handling complex issues, ensuring effective problem resolution.

Cons

Read more about customer service in Swyftx

In the realm of customer service, Swyftx is dedicated to providing a reliable and comprehensive support system that caters effectively to its users’ needs. Here’s a detailed breakdown of what the platform offers in terms of customer support:

Customer Support

Swyftx ensures that users can access support easily through various channels:

Live Chat: Available directly on their platform, this feature allows users to instantly connect with a customer service representative for immediate assistance.
Email Support: Users can send detailed queries via email, which is particularly useful for complex issues that may require thorough explanations.
Help Center: A well-organized repository of articles and guides that address common questions and provide detailed information about using the platform.

Reputation and Customer Feedback

Swyftx has generally received positive reviews from its users, especially in terms of response time and the effectiveness of the solutions provided. The platform is praised for its user-friendly approach and the accessibility of its support team.
Regular feedback collection and monitoring are part of Swyftx’s strategy to continuously improve service quality and user experience.

Contact Methods

Apart from live chat and email, Swyftx utilizes social media platforms to engage with users and provide updates, which also serve as informal support channels where users can ask questions and receive quick responses.

Response Time

The response time for live chat is typically within a few minutes, making it an efficient option for immediate support needs.
Email responses are detailed and are usually provided within a few hours, ensuring that more complex issues are handled thoroughly.

Additional Considerations

Multilingual Support: Swyftx provides support in multiple languages, accommodating a broader range of users and enhancing understanding and communication.
Training and Development: Swyftx invests in regular training for its support team, ensuring that all representatives are knowledgeable about the latest features, updates, and issues that might affect users.

Overall, Swyftx’s customer service is structured to be accessible, timely, and efficient, ensuring that users have a positive experience on the platform. While there is always room for improvement, particularly in expanding direct phone support and managing peak times better, Swyftx’s current system effectively supports its trading community.

Is Swyftx Right for You?

Consider Your Experience Level: Swyftx is particularly well-suited for beginners and intermediate traders due to its user-friendly interface and straightforward navigation. The platform offers educational resources that can help newcomers get up to speed with cryptocurrency trading. If you’re new to crypto trading or prefer a simplified trading experience, Swyftx could be a great choice.
Evaluate Your Trading and Investment Goals: Swyftx offers a wide range of cryptocurrencies and additional features like staking, which can be attractive if you’re looking to not only trade but also earn passive income through your crypto holdings. However, if your trading strategy involves advanced trading tools and complex order types, you might find the platform’s offerings somewhat limited. Swyftx is ideal for those who prioritize ease of use over complex functionalities.
Location and Currency Considerations: Swyftx is primarily targeted at the Australian market, accepting AUD, NZD, and USD. It provides specific advantages such as no deposit and withdrawal fees for AUD, making it cost-effective for Australian users. If you are based in Australia or primarily deal in these currencies, Swyftx offers additional conveniences that may not be available on other platforms. However, if you’re an international trader, you might want to consider how the platform’s focus on Australia impacts your access to certain features or currency pairs.

By considering these points, you can better decide if Swyftx meets your specific needs and trading style, ensuring a more tailored and satisfying trading experience.

Swyftx compared to other crypto exchanges

Threenvest score

Fees

0,06%

US Legal

–

Security

High 4,6/5

Investing risks losing your money

Threenvest score

4,9

Fees

0,20%/0,40%

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

bitpanda

Threenvest score

4,8

Fees

US Legal

Security

High 4,9/5

Investing risks losing your money

Available cryptocurrencies and countries available

Swyftx provides a broad selection of cryptocurrencies, catering to both mainstream and niche market interests. Among the most prominently supported cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Cardano (ADA). This extensive range allows users to diversify their portfolios by investing in both established and emerging digital currencies.
However, there are notable cryptocurrencies that Swyftx does not currently list. For instance, some specialized or newer tokens like certain DeFi coins or very recent ICOs may not be available. Traders looking to deal in the latest cryptocurrencies may need to check the availability regularly or consider other platforms that specialize in early listings.
Regarding geographical availability, Swyftx is primarily focused on serving residents of Australia, New Zealand, and to a lesser extent, the United States, offering tailored services including local currency deposits of AUD, NZD, and USD. Important to note, though, is that Swyftx is not available to residents of several countries, including some major markets like the UK, Canada, and Japan. Potential users from these countries will not be able to open accounts due to regulatory restrictions and the platform’s geographical service focus.

This setup makes Swyftx an excellent option for users within its operational regions who are seeking a wide variety of crypto investments, but less so for those located outside of these areas or interested in less common cryptocurrencies.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Litecoin (LTC)
Cardano (ADA)
Polkadot (DOT)
Binance Coin (BNB)
Solana (SOL)
Dogecoin (DOGE)
Chainlink (LINK)
Uniswap (UNI)
Bitcoin Cash (BCH)
Stellar (XLM)
EOS (EOS)
TRON (TRX)
Tezos (XTZ)
Cosmos (ATOM)
Aave (AAVE)
Monero (XMR)
Algorand (ALGO)

Main countries where you can open an account

Australia
New Zealand
United States

FAQs

1. How do I begin trading on Swyftx?

To start trading, first create an account by registering on the Swyftx website. Once registered, complete the KYC verification process to activate your account. You can then deposit funds using your preferred method, such as bank transfer, POLi, or credit/debit card, and begin trading.

2. What security measures does Swyftx implement to protect my account?

Swyftx ensures the security of your account with multiple layers of protection, including two-factor authentication (2FA), biometric logins, custom withdrawal whitelists, and cold storage for the majority of customer assets.

3. Can I trade with leverage on Swyftx?

Swyftx does not currently offer leveraged trading to ensure compliance with local regulations and to minimize risk for its users. However, the platform provides various other trading options to maximize your investment opportunities.

4. What are the fees associated with trading on Swyftx?

Swyftx charges a spread fee on trades, which is typically around 0.6%. There are no deposit fees for Australian dollars, and withdrawal fees only apply to non-AUD withdrawals based on the standard network fees of the respective blockchain.

5. How can I withdraw my funds from Swyftx?

To withdraw funds, access the ‘Withdraw’ section of your dashboard, select the amount and destination for your withdrawal, complete any required security verifications, and submit your request. Withdrawals are usually processed swiftly.

6. Which cryptocurrencies can I buy and sell on Swyftx?

Swyftx supports a wide array of cryptocurrencies, including major ones like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), as well as various altcoins. The full list is available on the platform, with more than 300 different cryptocurrencies to trade.

7. How do I set up recurring buys on Swyftx?

Swyftx allows you to set up recurring buys through the Auto-Buy feature. You can schedule regular purchases of a specific cryptocurrency by setting up an auto-buy plan in your account settings. This is a great way to dollar-cost average your investments over time.

Final opinion on Swyftx

Swyftx, as reviewed by Threenvest, stands out in the crowded field of cryptocurrency exchanges, particularly for its commitment to user-friendly design and robust security measures. The platform is especially well-suited for those new to cryptocurrency trading, offering an intuitive interface, comprehensive educational resources, and a straightforward verification process that allows users to get started quickly and securely. Its diverse range of over 300 cryptocurrencies caters to a broad spectrum of investment preferences, supported by reliable customer service that enhances the overall user experience.

However, while Swyftx offers many advantages, it does have limitations that may affect its appeal to a global audience. Its primary focus on the Australian market, though a strength for local users, means its features and services are less optimized for international traders. Additionally, the lack of advanced trading tools and fee structures that reward high-volume trading could be potential drawbacks for more experienced traders looking for depth in market manipulation and cost efficiency. In comparison to global giants in the field, Swyftx maintains a competitive edge in user experience and security but may fall short for those seeking the lowest fees and most advanced trading features. At Threenvest, we recommend Swyftx for beginners and intermediate traders in the supported regions, valuing its ease of use and secure trading environment.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Do not invest unless you are fully prepared to lose the entire amount of your investment. This is a high-risk activity, and you should not rely on any guarantees of protection if something goes wrong.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.

Investing risks losing your money