According to information on Swyftx's website on the date of first writing this review, the platform already had more than 370,000 users that had signed up to the platform. This means users require something they know (password) and something they have (2FA device) to successfully log in. Swyftx vs CoinSpot Fees. Individuals can buy, trade, and sell 310+ cryptocurrencies with AUD using a safe and beginner-friendly exchange. The dashboard includes a top bar with the Bitcoin live price in AUD and other cryptocurrency assets. It offers competitive pricing (the lowest in Australia), a wide selection of tokens to trade and high yields on crypto staking. Selecting a crypto network. Overall, Swyftx's fees are some of the lowest of any Australian exchange. Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. You can read our full methodology here. YouTube icon. However, as always, there are network fees involved when making a transaction. All marketplaces for NFTs in one, easy to compare, list. The exchange has received a 4.7/5 star rating according to Trust Pilot reviews based on 3,828 customer reviews and comments. Many exchanges divide between takersandmakers. Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. To aid Australians in understanding their taxation obligations, Swyftx has integrated a free-to-use tax calculator that provides users with a preliminary idea of how much Capital Gains Tax (CGT) they might have to pay. Swyftx provides a 24/7 service desk with 29 members in the customer support team to assist via phone, email, live chat support or Telegram. On a positive note, a large number of supported cryptos means that even the most exotic altcoin trader can stay at this platform and will not have to look elsewhere to cater for all his/her specific trading needs. Enhanced KYC. Swyftx has some of the lowest fees and tightest spreads of any Australian exchange. To this end, the platform has some unique features. A key reason to use Swyftx is the ability to buy Bitcoin in Australia or another crypto asset quickly using AUD or USD. Our rating and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Exchange Awards, updated by our editorial team throughout the year to reflect changes in the market. Swyftx has global liquidity providers which means you can enjoy small spreads and low trading fees when you choose Swyftx as your crypto exchange. According to's latest empirical study, the industry average spot trading taker fees were 0.221% and the corresponding spot trading maker fees were 0.177%. Swyftx is a reliable and secure cryptocurrency platform suited to newcomers and more advanced users alike. At Swyftx, these spreads are comparably low, with an average spread of only 0.45% for bitcoin transactions. Its a great place to come for crypto beginners and experienced traders. Fiat withdrawals must be made via bank transfer and can take up to 48 hours. DASH, Qtum The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. By comparison, some Australian competitors charge spreads of up to 4%. We also provide general advice on credit products under our own Credit Licence ACL 385509. The trading fee is 0.6%, which is lower than CoinSpot's instant buy/sell fee of 1%. Buy, Sell and Trade Coins, Assets, Tokens and Digital Currencies with Swyftx, the most progressive New Zealand Crypto Exchange! Is binance the crypto exchange with the lowest fees out there? This means that the only fee you need to be concerned with when withdrawing from this platform, is the network fees paid to the miners. About 88% of feedback was rated as great or excellent, which is a slight decline from 96% since our last update. For deposits made in fiat money and cryptocurrencies worth more than $200, they don't impose trading limitations or levy swyftx withdrawal fees. You can deposit AUD into your account at any Australian bank, including Commonwealth Bank, Suncorp, and ANZ Bank. Makers are the ones who add orders to the order book, thereby making liquidity at the platform. How likely would you be to recommend finder to a friend or colleague? We provide tools so you can sort and filter these lists to highlight features that matter to you. The money will arrive near-instantly to use to purchase crypto. For more information about the tax implications associated with cryptocurrencies, read our cryptocurrency taxation guide for Australians. The most common method for beginners is to deposit fiat currency from a local bank account. Updated on. . Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan and read any disclosure documents (such as any Target Market Determination (TMD) and/or Product Disclosure Statement (PDS)) issued by the provider before making a decision. Bibox, Binance, Coinspot, HitBTC, and Kucoin offered the lowest taker fee of the surveyed exchanges at 0.1%. Swyftx runs an affiliate program offering 30% commission on every trade made by participants' referrals. Swyftx offers live chat support, articles and tutorials in its help centre. Overall, the zero fees to deposit or withdraw funds using Swyftx make it a great crypto exchange for all individuals in Australia. Fiat Deposit & Withdrawal $ 0 Daily limits up to 100k AUD No fees on AUD deposits and withdrawals Trade Trading Fees % 0.6 High volume discounts apply No trading limits If you are unsure you should get independent advice before you apply for any product or commit to any plan. The trading fee is normally a percentage of the value of the trade order. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service. CoinJar Review It is important to understand that the spread is separate from the trading fee and both should be considered when trading. Bitpanda is a cryptocurrency broker based in Austria that launched its service in and offers individuals to buy and sell more than 56 cryptocurrencies. You should consider whether the products or services featured on our site are appropriate for your needs. The table was last updated by Swyftx as of the 7th of July 2022. 2 document.addEventListener("DOMContentLoaded", function(event) { var numExchanges = 2; var noFiatCurrencies = "false"; if(numExchanges == 1) { var hotStatsBoxes = document.getElementsByClassName("hotStatsBox__paragraph"); for(var i = 0; i < hotStatsBoxes.length; i++) { var headerText = hotStatsBoxes[i].innerHTML; if(headerText.indexOf("Fiat") > -1) { if(headerText.indexOf("currencies") > -1 && noFiatCurrencies == "false") { hotStatsBoxes[i].innerHTML = headerText.replace("currencies","currency"); } } } } }); 326 document.addEventListener("DOMContentLoaded", function(event) { var numExchanges = 326; var noFiatCurrencies = "false"; if(numExchanges == 1) { var hotStatsBoxes = document.getElementsByClassName("hotStatsBox__paragraph"); for(var i = 0; i < hotStatsBoxes.length; i++) { var headerText = hotStatsBoxes[i].innerHTML; if(headerText.indexOf("Crypto") > -1) { if(headerText.indexOf("currencies") > -1 && noFiatCurrencies == "false") { hotStatsBoxes[i].innerHTML = headerText.replace("currencies","currency"); } } } } }); Were reader-supported and may be paid when you visit links to partner sites. Buy and sell instantly with New Zealand's fastest and safest crypto retailer. NZD - NZD deposits via card and $10 fee attached to NZD withdrawals for New Zealand customers. Instant transfer with Osko payments (24/7), deposited directly from your bank account at the current exchange rate. Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. Tax requirements for crypto can be confusing, so an integration like this provides added peace of mind. Swyftx has a simplefee of 0.6% per transactionfor buy and sell orders. There are some withdrawal fees that depend on the cryptocurrency you want to. the difference between the bid and ask price) offered to the user. The information provided on this page is for educational purposes only and is not intended as investment advice. This provides a useful opportunity for crypto beginners to familiarise themselves with the platform as well as how crypto trading works. Swyftx offers these payment methods: Bank Transfer, PayId, POLi, Visa, Mastercard, B-pay, Osko, and of course Cryptocurrencies. Withdrawal fees and withdrawal minimums differ by asset type. Swyftx was the winner in the Finder Crypto Trading Customer Satisfaction Awards 2022, with a huge 88% of its customers recommending it to a friend. Swyftx is cutting transaction costs, shrinking spreads, and simplifying the account funding, withdrawals, and crypto trading operations to boost investors' productivity. Bitcoin There is also a Swyftx referral code to claim $20 worth of free Bitcoin. Furthermore, there are absolutely zero fees to deposit or withdraw AUD from the platform. There is a wide selection of assets available and breadth in other features like SMSF support and advanced trading options like stop-loss orders and recurring buys. The website also provides a comprehensive section with over 130 articles on how-to guides, tutorials and several frequently asked question articles. Swyftx executes all trades at market value, making their fees some of the lowest in Australia. Go to Conversely, for sales this means that you can set a higher price at which you would like to sell as soon as the cryptocurrency reaches this price (limit order), or a lower price at which you would like to sell if the cryptocurrency dips below it (stop order) which helps minimise losses and maximise profits. Withdrawals can be made to a nominated Australian bank account, however, a dishonor fee of AUD $40 applies if assets are withdrawn to the . Invest, trade and earn with your SMSF (Self-managed super fund) on SwyftX. Customer service is the best I've seen from any company, crypto or not. 4.2 The exchange has a mobile app and desktop platform, each emphasising a user-friendly design. We try to take an open and transparent approach and provide a broad-based comparison service. Buy Bitcoin. Summary: SwyftX is Australias second largest cryptocurrency exchange, and it is also available to New Zealand residents. What Are Swyftx Fees: How Much Does Swyftx Charge? Newcomers to Swyftx can take advantage of demo mode to trial trades without risking real assets. Most withdrawals are processed through OSKO and only take a few minutes to complete. Compared to local competitors, Swyftx have much cheaper rates, and international alternatives such as Binance are even more cost-effective. A secure guide to investing in cryptocurrencies with a Halifax Bank account in the United Kingdom. You can also browse the wide range of cryptocurrencies, and customise what you want to see. The funds can be used to purchase multiple cryptocurrencies at once. Swyftx employs a number of industry-standard security measures, including penetration testing, least privilege and breached password detection. Swyftx is one of the few platforms that is transparent with their spread fees which are as low as 0.45% for Bitcoin. If you meet certain eligibility criteria, Swyftx can help build out your self-managed super fund portfolio to include crypto. Swyftx is undoubtedly one of the best crypto trading platforms for Australians due to its feature-rich user interface and mobile app. Key information including the Trust Deed will need to be submitted and approved, a process which is facilitated by Swyftx. bit2me is a cryptocurrency broker based in Spain that launched its service in and offers individuals to buy and sell more than 20 cryptocurrencies. Kraken is a cryptocurrency broker based in United States that launched its service in and offers individuals to buy and sell more than 61 cryptocurrencies. Finally, there are usually many different ways in which you can change the settings to customize the trading interface based on your own preferences. New users that create an account with Swyftx are required to verify their identity. Swyftx provides its customers with an avenue to invest in cryptocurrencies as part of their Self-Managed Super Fund (SMSF). Excellent customer ratings and reviews. I compared Doge and Shiba with two other platforms named coinspot and the digital surge. If funds are withdrawn to the incorrect bank details, a dishonour fee (of up to $40) may be applied, which are paid to us and our payment provider. Although we cover a wide range of products, providers and services we don't cover every product, provider or service available in the market so there may be other options available to you. For a full list of fees, visit the website. Disclaimer - Hive Empire Pty Ltd (trading as, ABN: 18 118 785 121) provides factual information, general advice and services on a range of financial products as a Corporate Authorised Representative (432664) of Centra Wealth Pty Ltd AFSL 422704. The trading fee is the cost to fulfill the transaction and can . DOT, Chainlink SwyftX is considered the second most secure crypto exchange in Australia after CoinSpot. Luckily for you, if you go to the Exchange Listand use our exchange filters, you can sort the exchanges based on whether or not they accept US-investors. The value of the fee is 0.6% of the transaction amount. Swyftx also complies with the strict AML/KYC obligations set out by the Australian Government. To ask a question simply log in via your email or create an account. Does Swyftx have a withdrawal limit? Charting and indicators available on Swyftx. Click here to embed this table into your website. Existing users on Swyftx can transfer crypto andconvert back to AUD. It is important for all SMSF to understand the costs, risks, and regulatory nuances behind using super funds to invest in digital assets. SwyftX only offers instant trading and charges a 0.6% fee, which means they are the better trading venue for altcoins, but CoinSpot is better for larger market cap assets like Bitcoin and Ethereum. We can also provide you with general advice and factual information on about a range of other products, services and providers. Refer your friends to start saving on Swyftx thanks to low fees and spreads. Swyftx has an intuitive and advanced user interface that is perfect for beginners and intermediate investors alike. Exchanges with a smaller number of supported cryptos generally only support the bigger crypto projects, which have all been subject to numerous due diligence processes and that are in most cases properly vetted. Some global exchanges do offer more competitive rates, but may not provide the convenience of AUD deposits and withdrawals, so weigh up what matters most to you. It's worth remembering that all SMSFs carry additional risk, so seek professional advice first. You can learn more about how we make money. The platform is headquartered in Milton, Brisbane and has expanded operations into New Zealand, with support for Canada and the UK coming soon. The standard spot trading fees are equal for the taker and the maker, and they do not depend on the asset or the volume of the actual transaction. Reviews Since cryptocurrency withdrawals are an option there is no upper limit on maximum withdrawals and there is no lower limit for minimum withdrawals. Individuals canset up automatic AUD deposits for a particular amount and transfer funds to the exchange using PayID, POLi, or a bank transfer. Take a deep dive into FTX and Alameda's founder, Sam Bankman-Fried's net worth. These fees are not paid to Swyftx. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. The Swyftx app provides access to all functionality and features on any device with a modern web browser such as Android or iOS smartphones. Recurring orders or otherwise referred to as Dollar Cost Averaging (DCA) is useful for highly volatile markets. For example, the top 5 market cap bundle comes with 5 coins, each making up 20% of the bundle. Take advantage of our low fees, low spreads, low prices, and feature-packed app to unlock your trading & investing potential today. 2FA is also required to confirm withdrawals, account detail changes, and certain high-volume trades. Customers can withdraw any amount of AUD to a bank account without charges. Best to Sell @ $Limit. Fees Winner: Digital Surge Digital Surge has free AUD withdrawals and free deposits using PayID, with low trading fees of 0.5%. Scan to download the Finder app on iOS or Android. Enter your name, email, password, phone number and country of residence. This is based on important factors such as ease of use, reputation, fees, security, and live support. The best places to hold your crypto; securely, anymously, easily. Select the entire date range you traded on Swyftx Download the report Sign up to CryptoTaxCalculator In the drop down menu search for Swyftx Click the browse button and select the csv file downloaded from Swyftx Click the upload button Refer to the list below for a high level overview of the supported tokens and their corresponding yields (returns). Other cryptocurrencies that can be transferred into the Swyftx wallet are limited Ethereum (ETH) and Ripple (XRP). \. We compare from a wide set of banks, insurers and product issuers. Bundles can also be set up as recurring orders to DCA in the market. It is popular in Asia, with over 1 million registered users, and an average daily trading volume exceeding $1.5 billion. However, we aim to provide information to enable consumers to understand these issues. Fiat Deposit $ 0 Daily deposit limit up to 50k NZD Minimum withdrawal of $30 NZD $10 NZD withdrawal fee Trade Trading Fees % 0.6 Nevertheless, this is as easy as uploading a copy of your identity document to the platform. Trading fees vary by more than an order of magnitude, from 0.1% to more than 1% on Coinbase and Gemini. Debit card (first exchange in Australia to offer credit & debit cards) Credit card OSKO POLi PayID Cryptocurrency Transfers: free (except network fees). Swyftx has an affordable fee structure compared to some other exchanges. The bar on the left is the primary navigational menu to bring up the trade window, change profile details, and quick navigation to Swyftx deposit and withdraw functions. A Brief Summary. ETH, Ripple As a registered DCEP (Digital Currency Exchange Platform), Swyftx maintains very strict KYC (Know Your Customer) policies to reduce the possibility of ill-willed users taking advantage of the platform. FTX offers free deposits and withdrawals and extremely low trading fees. If you are one of those traders, youll be happy to learn that Swyftxs trading platform is also available as an app for iPhone and Android users. Jed has been in the crypto industry since 2015 and has been writing and researching for large publications ever since. There are of course two sides of the same "coin" here (a large number of supported cryptos that is). Twitter Low trading fees: The exchange offers 0.0% and 0.1% maker and taker fees that are unrivaled. Some prefer to do their crypto trading via their mobile phone. Easy Crypto doesn't charge any deposit or withdrawal fees on its own side, only passing on the POLi provider fee and any network charges for transferring cryptocurrencies. The increased liquidity results in lower spreads (i.e. / 5. Any assets sent to an incorrect address are not recoverable. Daily deposits and limits for verified accounts are set at $20,000. For full functionality of this site it is necessary to enable JavaScript. However, this is only during the Beta . Bank Transfers: No fees for transfers under $20. There are no fees to create or maintain a Swyftx account or wallet. \. Other exchanges can charge up to 1% for instant purchases with spreads around 2.6%. When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. You can withdraw your AUD, BTC, ETH, and XRP assets with zero Swyftx fees, however, a standard network fee will apply for withdrawn crypto. The live chat support feature is very useful to beginners that need guidance with creating an account, completing ID verification, depositing funds or using the exchange to buy and sell coins.