Originally presented by Angus Goldman and Alex Harper, Swyftx was created to meet the huge demand for liquid cryptocurrency exchanges in line with Australian cryptocurrency laws and the tax system.
Swyftx trading services make the platform very suitable for new traders, as well as professionals from Australia who want to use a cryptocurrency targeted directly in that region.
It provides a large self-regulated cryptocurrency, offers tax advantages for investors, and the ability to exploit the cryptocurrency market to a large extent.
Read to know about a Swyftx review for Australians.
Is Swyftx safe?
Swyftx protects your property with a combination of cold and hot wallet storage. It uses enhanced security that includes 2FA authentication and JWT tokens and session expiration. You also have the power to store your belongings in an outdoor, offline bag.
Swyftx is owned and operated by Swyftx Pty Ltd (ACN 623 556 730). It has a strong privacy policy and as a digital money exchange provider registered with AUSTRAC or DCEP, they adhere to the Know Your Customer (KYC) policies and operational monitoring systems that help reduce money laundering and counter-terrorism.
Who is Swyftx aimed at?
The forum is mainly aimed at Australians because it complies with their rules and complies with their tax laws, however, people from New Zealand, the United Kingdom, and Canada can also create an account, with the support of Ireland and India coming in the near future.
Goods for sale
You can buy, sell or trade in over 260 cryptocurrencies, and gain access to demo mode to improve your strategy.
This is certainly one of the biggest conversations about a fully regulated trade that gives consumers a wealth of assets to trade.
Charging
Swyftx charts draw a simple user interface, however, you can access large charts with a variety of features on some exchanges that may require third-party software to access them.
For more experienced traders, Swyftx offers advanced order options for sophisticated trading. Additionally, the default recurring deposit feature allows you to schedule an automatic investment.
Another key feature is a downloadable tax-generated tax reporting report, which is useful for investors from Australia.
Funds
When it comes to fiat cash payments, AUD deposit and withdrawals go into 0 daily costs with up to $100,000 AUD and free withdrawals.
In crypto, there is a 0.6% trading volume, with high volume discounts available, no trading limits, and spreads from 0.45%.
Cryptocurrency deposits and withdrawals enter the normal network mining currency, however, there are no additional Swyftx payments.
Given the fact that Swyftx has a large liquidity pool due to its global partners, it offers a low spread, estimated at 1.7% in all currencies and 0.45% in Bitcoin, compared to the standard 4.0% spread offered to competitors.
Benefits
- Good value to Australian investors due to its small spread and low cost.
- Improved trading features, including demo trading, portfolio tracking, and repetitive trading.
- You can sell more than 270 cryptocurrencies through the platform.
- Minimum waiting time for customer support.
- It supports multiple payment methods, including debit and credit cards.
- It makes it easy to declare profits in crypto trading at ATO.
