Swyftx Logo
"Minted Millennials is reader supported. When you click on links through this site, we may earn an affiliate commission."

In this Swyftx Crypto App Review I will cover all things relating to the Swyftx cryptocurrency exchange. If you are new to Crypto assets or looking for a trading platform to buy & sell Crypto, then this will cover whether Swyftx app is a legitimate option. I will do a deep dive into what the Swyftx app offers and some of its cool features too. I hope you enjoy this Swyftx app review.

What is Swyftx?

Swyftx is a Brisbane based, Australian cryptocurrency exchange, that enables safe and secure trading of cryptocurrencies. It is a legitimate Crypto exchange and a registered company that offers users the option to buy and sell over 280 different Cryptocurrencies.

Swyftx was founded by two mates Alex Harper and Angus Goldman who met at a Summer computer science camp hosted by the University of Sydney. The two mates launched Swfytx the Australian exchange app in 2019 and have since gained over 370,000 users of the platform.

Swyftx is regulated as a registered digital currency exchange and as such is compelled to abide by Australian Law. It must comply with AUSTRAC reporting guidelines which include reporting any Anti Money Laundering (AML) and Counter-Terrorism Financing (CTF) suspicions. 

The Australian Crypto Industry is moving at a rapid speed, and the regulators are having to catch up. To their credit the Australian regulators are doing a great job including Australian crypto exchanges in this process. 

As Swyftx is an operated crypto exchange it will need to comply with any future regulation. However, for now the Swfytx platform along with other crypto exchanges must adhere to Australian law and AUSTRAC reporting.


Top Pick
Swyftx – Most Trusted Australian Crypto Exchange

The Best Australian Crypto exchange. Trade and Stake crypto with some of the lowest fees.

$20BTC Sign Up Bonus!
We earn a commission when you sign up to Swyftx, at no additional cost to you.

What Can I Invest In?

There are over 280 different Crypto assets, tokens and coins that you can trade through the Swyftx app. This includes the largest by market cap including Bitcoin, Ethereum, Cardano, Dogecoin, Ripple and Solana to name a few.

While these are some of the largest by market cap and popularity, there are many other crypto assets to choose from. The Swyftx app is one of the best crypto exchanges in Australia due to its large array of crypto assets. Generally speaking the lesser known digital assets are likely to have significantly more volatility. 

For example, you are also able to purchase the Shiba Inu coin via Swyftx. This went up 400% in a day after Elon Musk posted a photo of his new dog Floki. So definitely make sure you do your own research before you start investing in some of the other assets available on the platform. Better yet, you can use the demo mode to understand the platform before using real funds. 



Swyftx Exchange

Swyftx Review – Features

There is a lot of volatility in Crypto and while this presents a lot of opportunity it also presents a lot of potential for people to suffer big losses. If you want to start by dipping your toe into Crypto another platform to consider is Bamboo

However, if you are ready to trade Crypto yourself or prefer advanced trading features then keep reading this Swyftx review. Swyftx is an Australian owned crypto trading platform, with low trading fees for its users. It provides users with many options including trading, staking and swapping their Cryptocurrency.

Buy & Sell

If Swyftx is your first foray into the Cryptocurrency market then it can seem quite intimidating. I would suggest that if you aren’t at least aware of the top 5-10 coins based on market cap. Then you should at least consider doing a bit more of your own due diligence before buying any crypto. Failing that, you can test out the crypto trading functionality with the demo mode first.

I also highly recommend you avoid anyone claiming they can help you make it rich quickly. This is definitely a scam! 

One of the first things you may notice if you are new to Crypto is the sheer amount of coins available on Swyftx. There are hundreds of different cryptocurrencies to choose from. This would be one of the things I would love to see Swyftx clean up, their dashboard isn’t a user friendly interface.

If you are ready to get started with crypto trading then Swyftx makes it extremely simple to do so. Remember there is no such thing as making a trade risk free. Crypto is very volatile and carries financial risk as do other exchanges. If you are ready to start trading then you just select which Crypto you want and whether you want to buy or sell it. 

Select the amount you want to buy or sell and hit instant buy/sell. When you buy or sell Crypto on Swyftx you will incur a fee of 0.6%. This occurs on both sides of the trade and there will also be Swyftx spreads.


Crypto Bundles


Bundles are a really cool feature that some Cryptocurrency exchanges like Swyftx and Coinspot provide to Australian investors. I like to view Bundles as the Crypto version of ETFs. In one purchase you are gaining exposure to ‘basket’ of Cryptocurrencies.

Bundles are a predetermined group of Cryptocurrencies, with preset allocations to each coin. Take the Swyftx Big Two Bundle of Bitcoin and Ethereum, it has a breakdown of 50% each.

What I really like though, is that you have the ability to change your asset allocation to the assets within the bundle. So you could make yours 80% Ethereum and 20% Bitcoin if you wanted.

Swyftx has 7 pre-made bundles for you to choose from. I would suggest that if you don’t know the names of some of the assets in the Bundles then don’t use that Bundle. It is the same as investing in Stocks, if you don’t know or understand the business then best to avoid it.

One of the great things with the Swyftx app is that you can set a recurring order for your Bundle purchases. So you could make a weekly order of $60 minimum for the Big Two bundle. This would enable you to build your exposure to both Bitcoin and Ethereum without having to think about it. 

Bundles are a great way to diversify across multiple Cryptocurrencies and take the thought out of investing. This automation takes emotion out of a trading platform. I strongly believe Bundles are a great idea, so if this interests you, make sure you are happy with all the assets that are included.

Swap Cryptocurrencies

Swyftx is a Cryptocurrency exchange, so one of the features it has provides users the ability to swap from one Cryptocurrency to another. Not all Crypto exchange platforms provide this feature, so if this is important to you Swyftx is a great option.

The fee for swapping between Cryptocurrencies is 1.2%. This is a fee of 0.6% on the sell side and then 0.6% on the buy side. These swaps happen instantly and are based on live rates, so you will get the rate at the time of execution.

One thing to consider with this is the volume and volatility between the two currencies you are swapping. As this could change rather quickly given the volatile nature of this asset class. 

Send Crypto

Swap Crypto

Send Crypto:

While you may be happy with the security that the Swyftx app provides, you still may wish to send your assets to a cold wallet or a yield earning platform. This is extremely simple and secure with Swyftx.

Remember that the irreversible nature of Cryptocurrency means that if you send assets to the wrong address they will likely be gone forever! So make sure you are extremely accurate when transferring assets to another wallet address.

The first part of this process is to add the wallet you wish to send to for the first time in your Swyftx app. Most wallets have a QR code you can scan, to help reduce errors in typing the wallet address.

Once you do this, Swyftx has a cool security feature that pops up. A message pops up reminding you that if things seem too good to be true they likely are a scam. Or that ICO’s are extremely risky and should be approached with caution. This requires you to read and accept the risk of adding a new wallet.

You are sent a secure pin to your mobile number and will receive a follow up email to approve the addition of this new wallet. Once this has been completed, that address is available to send your assets to in the future.

Bear in mind that wallets have unique addresses for different digital assets. So if you wish to send Bitcoin to your wallet you will need to add another wallet address if you then wish to send your Ethereum.

Swyftx Fees
Swyftx Fees

Swyftx Fees

Assessing the fees involved with any investing app, whether it is crypto or equity, is very important. High fees can really eat away at your long term returns. This is why they shouldn’t be overlooked when choosing an investment platform.


Swyftx fees are very clear and simple for their users to understand. I really like it when investing platforms have transparency around their fees. There is nothing worse than receiving hidden fees. 

So review the Swyftx fees below and see if they will fit in your investing strategy and if Swyftx is the app for you.

Swyftx enables free deposits in Australian dollars and zero withdrawal fees to and from your Swyftx exchange wallet. You should note there is a $20k deposit and withdrawal limit, which you can have increased with extra verification if required.

When buying and selling Cryptocurrency on Swyftx you will be charged low trading fees of 0.6%. This fee also applies to their bundles and recurring orders.

If you are sending crypto to another wallet, there will be the standard network fees. This is unavoidable for the platform and most Crypto apps have the same fee attached here.

It is worth seeing what the fee would be to send your crypto to another wallet and ensure it is a viable move. If the fee is the equivalent of $30 and you are sending $100 of Bitcoin, it really doesn’t make sense.

Swyftx boasts average spreads of 1.7% which is lower than the average spreads of 2.6% for other exchanges. The slightly higher transaction fees are redeemed through their better spreads. 


Swfytx definitely targets Crypto traders more than long term investors, so these better spreads are great for people heavily trading.


Is Swyftx Safe?

Cryptocurrency has previously been the centre of many attempts at hacks and theft of assets. While this is still the case, there have been significant increases in security features of platforms that allow access to Crypto.

Swyftx follows industry best practices for the security of their platform and assets. This includes the use of external security penetration testing, breached password detection software and consulting 3rd party security experts. Swyftx constantly reviews their security protocols to ensure the platform remains safe and secure for users.

Swyftx utilises two-factor authentication security settings to protect the login of your account. Using two-factor authentication is strongly encouraged by the platform. While it can be annoying to access your account this way, it definitely adds a greater layer of security.

Swyftx also enables biometric security login. This has become quite common practice for mobile apps and can make logging in very simple. I have utilised biometric security with two-factor authority. This has made logging in the safest and simplest for me to use.

I really liked the extra security feature Swyftx has when you are looking to transfer Crypto to an external wallet. A screen pops up explaining fraudulent activity and ICO’s that seem too good to be true. While most people may ignore this, I think it is a great extra level that shows they truly care about the customer. 

They also have a two-step verification process for when you want to send crypto from Swyftx to another digital wallet, like Celsius. I will touch on this process later on in this Swyftx Crypto review. A fair question an Australian investor could ask is, is Swyftx safe? Hopefully after reading through this Swyftx review, you will see the answer is yes.


Swyftx Sign Up Process

As I mentioned earlier in this Swyftx app review, because Swyftx is a regulated exchange it must meet certain regulations and compliance aspects. This includes the often cumbersome Know Your Customer (KYC) requirements. These help to protect the Australian investor from money laundering and are commonplace amongst other exchanges.

This means the signup process is extremely thorough, as Swyftx must ensure this is the case or face serious repercussions. I had to provide ID and a few verification checks in order to sign up.

However, even with the KYC requirements I found the signup process to be simple. I was pleased with the overall level of professionalism around their client security and compliance requirements. Swyftx also accepts osko bank transfers making funding your account extremely simple.

As with all other platforms, you can look to take advantage of sign up links to get bonuses. 

Like using this one and scoring $10 worth of Bitcoin for free….

Swyftx SMSF

Cryptocurrency has gained significant interest from investors, especially those looking to allocate some funds towards the alternative asset class. With some significant gains for the asset class and the ability to generate some impressive yields. 

There has been a lot of interest for Australian investors to have access to Crypto in their Superannuation Funds. To date there haven’t been any industry Super funds that have allowed exposure to Crypto. So only investors with Self Managed Super Funds (SMSF) can access this investment option.

Like most other Cryptocurrency exchanges and investing platforms, Swyftx doesn’t enable users the option to create an SMSF with them. This is largely in part to do with the regulatory hurdles and administration involved.  Like other Crypto platforms, Swfytx have teamed up with a financial service business that specialises in SMSFs. 

Swyftx have teamed up with New Brighton Capital to help users set up their own SMSF that is Crypto compliant. If you already have an existing SMSF you can also sign up to Swyftx.

Self Managed Super Funds have some pros and cons, so make sure you do your own research before considering one. I would highly recommend you consult a financial adviser or accountant before setting one up.


There are many regulatory requirements and often high costs involved in Self Managed Super Funds. So definitely take that into consideration when thinking about using an SMSF to access Cryptocurrency.


Swyftx Tax Reporting

While it would be great to invest using Cryptocurrency and not have to pay tax, that is not how the world works. Cryptocurrency is treated like any other investment asset and as such any capital gains you make will need to be reported to the ATO.

Capital gain events are triggered anytime you “dispose” of an asset. This means anytime you swap or sell a digital asset a capital gain event occurs. Likewise anytime you receive digital assets as yield you need to report this as accessible income on your tax return. With many of these events occurring if you are doing lots of trading it can take hours to figure out your tax position.

Unfortunately the Australian Tax Office has taken a keen interest in Cryptocurrency and is targeting Australians with Crypto holdings. This means it is extremely important to have your Crypto affairs in order come tax time. 

You can generate Australian transaction reports from Swyftx directly, through a CSV file. However, most Crypto users have multiple crypto exchanges. This means it is a nightmare to manage all your tax liabilities and collect 

Fortunately there is an amazing tool called Koinly that collates all your Cryptocurrency Australian transaction reports from each cryptocurrency exchange. From there it provides country compliant tax reports. It syncs up using an API key that Swyftx generates for you and does all the work in the background to provide a Tax report for you. 


For a small fee you can save time and money on managing your Crypto tax affairs. If you want to manage your Crypto tax affairs correctly it could be worth checking out Koinly.



  1. Cointelli | Crypto tax reports you can trust, ready in minutes
  2. 4.5

    Cointelli, automated USA compliant crypto tax reports. API integration to crypto exchanges, wallets, blockchains & services for a flat $49USD fee.

    Sign Up Here Our Review

    We earn a commission when you sign up to Cointelli, at no cost to you.

  3. Koinly — Free Crypto Tax Software
  4. 4.5

    Crypto tax portfolio tracker that provides automated Country specific compliant tax reports and integration for your accountant to file your tax return.

    Sign Up Our Review

    We earn a commission when you sign up to Koinly, at no extra cost to you.

  5. Cryptocurrency Tax Software: TokenTax
  6. 4.0

    Token Tax is a premium Cryptocurrency Tax Software, that provides country specific compliant Crypto Tax reports.

    Sign Up Here

    We earn a commission if you make a purchase, at no additional cost to you.

    Lasso Brag

Swyftx Education

As I mention in all my other reviews, I really appreciate a platform that invests in their educational content. I feel this shows they really care that their user understands the platform they are using. 

To this end, I am very pleased with the educational content that Swfytx provides their users. They have a Swyftx learn page that provides lots of great educational content. It covers the basics of Cryptocurrency and then also goes into detail around trading Crypto.

Swyftx create a few posts a week that cover topics from the Bitcoin halving to understanding Cryptocurrency fundamental analysis. I like the range of the educational content they produce around Crypto. The free video courses provided are amazing.

It is also very easy to understand and well written. I would love to see more integration within the app of the educational content. Similar to how Spaceship and their app includes the posts on the home page. Upon review, I can’t fault Swyftx on their strong and valuable educational Cryptocurrency content.

Swyftx Learn
Swyftx Learn

Swyftx Review FAQ’s

Hopefully you are enjoying this Swyftx review so far. In case you had further questions regarding Swyftx Australia and what the platform is about I have compiled a list of FAQs below.

 Does Swyftx have an app?

Yes, Swyftx does have an app. It is available for both Android and IOS. Australian users can set up a Swyftx account and access Swyftx’s demo mode or buy bitcoin through a live account.

What is the best crypto exchange in Australia?

There are so many great cryptocurrency exchanges within Australia to choose from. The best exchange will come down to your personal preference and what you need out of the exchange. Some things to look out for include, customer support, low fees, withdrawal fees, types of crypto available and automation. Swyftx compares extremely well against other cryptocurrency exchanges.

Swyftx Demo Mode
Swyftx Demo Mode


Does Swyftx have a Demo Account?

One of the cool features that Swyftx offers that no other Crypto platform does is their demo account. This demo account allows users to invest using fake money, but with real time asset prices.

As I mentioned earlier in this Swyftx app review, their target customer is likely to be actively trading Cryptocurrency. There are many different strategies and theories that traders can implement. So having the functionality to test them with the same platform you plan to trade on is very cool. 

 Do you own crypto on Swyftx?

If you don’t hold the keys to your wallet, then you don’t have ultimate control over your crypto. While you may ‘own’ the crypto in your wallet, technically you are relying on Swyftx to follow your instructions to buy/sell or trade your crypto. However, this is the same for all cryptocurrency exchanges.


Can I stake on Swyftx?

Yes you can stake over 15+ different types of cryptocurrency. Currently the main ones are Cardano, Polygon and Axie Infinity to name a few. Staking is extremely simple with Swyftx, you hit a couple of buttons and your assets move from your trading wallet into your staking wallet. You start accruing rewards instantly and they are paid out daily.

Pros & Cons


  • Demo Account

  • Staking 

  • SMSF Functionality

  • Educational Content

  • Customisable Bundles

  • Low Buy/Sell Spreads

  • Recurring Buys


  • User Interface is Cluttered

  • Can’t earn yield on major crypto like BTC & ETH yet.

Swyftx Review- Is Swyftx Worth It?

If you are still reading my Swyftx review, then firstly I hope you have found it helpful! Secondly, I think you will know by now that I rate Swyftx very highly as a cryptocurrency exchange. Its great customer support, low fees, low spreads and wide array of digital assets. Not to mention their educational content and the ease and ability to invest with a Trusts/SMSF make Swyftx worth it.

Choosing a cryptocurrency exchange is a decision that is specific to your circumstances and needs. So if you are unsure you should speak with a professional. I have found Swyftx to be a great platform for my circumstances. If you require a platform that provides interest on bitcoin or Ethereum you could check out Celsius, or if you want to trade lots of assets you could check out Digital Surge.

 Swyftx Review – Alternatives To Swyftx

While the Swyftx crypto app offers users some great features, especially earning interest on their crypto. There are a few alternatives to consider, these include platforms like Celsius and Digital Surge

Celsius is a great alternative to Swyftx. It provides users with the ability to earn interest on their crypto, as well as taking out crypto backed loans. Check out my Celsius Review if you want to learn more and see why it is a great alternative to Swyftx.

 Another alternative to Swyftx, is a platform called Digital Surge. Digital Surge is another Brisbane based cryptocurrency exchange. It has a wide range of digital assets to choose from and also allows for SMSF/Trust accounts.


Lowest Fees!
Digital Surge – Buy, Sell & Trade Crypto in Australia

Digital Surge is the Cheapest place to Buy, Sell & Trade Crypto in Australia. Especially through a Trust or SMSF.

Sign Up Here Our Review
We earn a commission when you sign up to Digital Surge, at no cost to you.

Who is Swyftx for? 

Upon review Swyftx is specifically designed for anyone that wants to actively trade Cryptocurrency. While this is the target user, their functionality is also great for anyone that wants to invest long-term too.

The platform can be very busy, so the majority of the platform is suited for more experienced traders. However, with their bundles and recurring buy feature Swyftx is also great for beginner investors. They have the option to set this recurring bundle buy and not have to think about it again.

This is a great way to gain exposure to Cryptocurrency without having to know complex trading strategies or be glued to your screen all day. With the low fees, great customer support and a beginner friendly demo mode. Swyftx compares very well against other cryptocurrency exchanges for Australian users.

An alternative option for those looking to dip their toe into Crypto and find Swyftx too daunting is to use Bamboo. This is a micro investing app that rounds up your spare change and automatically invests in Bitcoin & Ethereum for you.

Swyftx Review- Conclusion

Swyftx is definitely a great option for people looking at cryptocurrency exchanges in Australia. Hopefully this Swyftx Review has highlighted some of the many pros and a few cons of the platform.

In my experience I have found Swyftx extremely simple to use. Their customer support was extremely helpful when setting up my Trust account. Not to mention their security measures, low fees and low spreads. I love their educational content and really think there needs to be more content like this put out by other cryptocurrency exchanges.


Swyftx is continually adding new cryptocurrency assets to the platform. Therefore providing advanced traders more options to choose from, while still having simple bundles or recurring orders. Therefore keeping set and forget investors happy too.

Additionally, Swyftx provides you the opportunity to earn passive income on your digital assets, through Staking. Staking with Swyftx is an easy solution for users looking to put their crypto to work. The demo account also means you can test the platform out without any real money. I can’t rate Swyftx highly enough.



Top Pick
Swyftx – Most Trusted Australian Crypto Exchange

The Best Australian Crypto exchange. Trade and Stake crypto with some of the lowest fees.

$20BTC Sign Up Bonus!
We earn a commission when you sign up to Swyftx, at no additional cost to you.

Sign Up Bonus

I hope you have enjoyed this Swyftx review and found it helpful in better understanding the Swyftx app. Swyftx has a lot of features and is a great option for anyone wanting to start investing with Cryptocurrency. If you have enjoyed this Swyftx review you can sign up here and get $10 worth of Bitcoin for Free!

Read More Posts On Crypto Below

Scroll to Top