Quick-Take: SwyftX offers the tightest spreads and lowest Instant Buy trading fees out of any Australian-based cryptocurrency exchange. The cryptocurrency investing platform has been developed specifically for Australian investors.
SwyftX is a centralised cryptocurrency exchange based out of Brisbane that offers trading and staking services. SwyftX is best known for its extensive staking list and high APY (returns). In addition to its staking, the exchange supports over 300 cryptocurrencies. In this guide, we look at the fees, security, assets, features and much more.
Relevant Guides: SwyftX vs CoinSpot, Best Crypto Exchanges Australia & How to Buy Crypto Australia
SwyftX charges a flat 0.6% fee on all trades, and for larger orders, the fee gets as low as 0.1%. To balance the fee SwyftX offers super low spread fees, most exchanges offer a 0.1% fee on trades and spreads of up to 5%, SwyftX spreads are a low 0.41%.
As for AUD and cryptocurrency deposits, SwyftX does not charge any fees whatsoever. Some exchanges like Coinbase have deposit fees up to 4.5%. The platform also does not charge any fees to withdraw from the exchange.
There are currently 319 cryptocurrencies that you invest in on SwyftX including Ethereum, Bitcoin, Avalanche, Solana, Polygon, Tether and more. For a full list of the supported tokens on SwyftX you can refer to their Assets Archive.
Quite a few major exchanges have stopped using the term ‘staking’ and are now using the word ‘Earn’. SwyftX’s ‘Earn’ feature allows Aussie investors to earn high APY (Annual Percentage Yields) on selected tokens. You can refer to the list below for the available staking options and APYs you can get on the platform.
(ADA) Cardano - 4.6% APY*
(ALGO) Algorand - 8.3% APY*
(ATOM) Cosmos - 11.4% APY*
(AXS) Axie Infinity - 101.3% APY*
(BTC) Bitcoin - 5.12% APY*
(DOT) Polkadot - 12.7% APY*
(EGLD) Elrond - 12.74% APY*
(ETH) Ethereum - 5.12% APY*
(FLOW) Flow - 6.18% APY*
(LUNA) Terra - 6.18% APY*
(KAVA) Kava - 25.85% APY*
(KSM) Kusama - 19.71% APY*
(MATIC) Polygon - 12.74% RPY*
(ONE) Harmony - 8.32% APY*
(SOL) Solana - 6.18% APY*
(XTZ) Tezos - 3.97% APY*
(TAUD) True AUD - 5.33% APY*
(TRX) Tron - 5.97% APY*
(USDC) USD Coin - 6.71% APY*
(USDT) Tether - 6.71% APY*
(ZIL) Zilliqa - 13.88% APY*
*APY (Annual Percentage Yield) is estimated and is subject to change.
One of the most popular features on SwyftX is Bundles, which is similar to ETFs. Bundles essentially allow users to invest in multiple assets at once by equally dividing your funds into each asset. SwyftX has a few bundle options such as Top Traded ALT Coin Bundle, Staking Coin Bundle, Top 10 by Market Cap, Top 5 by Market Cap and DeFi Bundle.
For a full list of all the available staking options, you can visit their Bundles tab on the home page.
SwyftX has an active and responsive customer support team that can be reached via Live Chat, Email (hello@swyftx.com.au) or by phone on (07) 3088 7633. The platform has an incredible 4.7 stars on Trust Pilot with an impressive 3800 reviews. Most of the reviews highlight how responsive and helpful the customer service was.
The mobile version of this platform is available for both iOS and Android. For Apple users, the app version is available for both iPhone and iPad. The SwyftX app is currently rated 4.6 stars on the app store with 5.3K rating and ranks #71 overall for the Finance section.
Yes, SwyftX is considered a secure cryptocurrency investing platform. It is currently in the process of applying for the ISO27001 certification, once SwyftX has obtained it will be considered a very secure cryptocurrency exchange.
The platform has implemented steps to protect its user's investments and personal information including data encryption, Two-Factor Authentication (2FA), penetration testing, biometric authentication, least privilege and breached password detection.
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