Swyftx is an Australian cryptocurrency exchange that was created in 2018. It is registered with AUSTRAC and provides customers with over 320 cryptocurrencies. Swyftx offers very cheap fees compared to other exchanges. However, you should be aware of the red flags associated with this platform. The complex Swyftx system has received several negative reviews, with customers reporting that their accounts have been blocked when they try to withdraw payments.
Coins accepted: Swyftx systems currently support about 320 coins. However, this exchange lacks transparency regarding pricing. Customers have reported seeing different buy prices for a particular currency. When the crypto market drops and they want to buy the dips, the Swyftx system continues to experience issues.
Options for beginning investors: When entering the cryptocurrency industry, it can be challenging to know where to start. Swyftx Fees Structure by Coin Culture provides several services for both beginners and experienced professionals.
Demo mode: Swyftx is easy for novice investors and even provides an accessible demo mode after creating an account. You can practice cryptocurrency trading with $10,000 in play money using their risk-free simulation. You can gain hands-on experience without taking any financial risks. In addition, the demo mode simulates actual events, such as market reactions and the effect of investments on your liquid assets.
Transacting with AUD is simple: Another notable aspect of Swyftx is the ability to make quick purchases in Australian dollars. Further, Swyftx Fees Structure by Coin Culture makes the process easier. They know the difficulties associated with buying and selling overseas as an Australian business. Their website does not require you to convert AUD to USD or EUR. Almost all Australian bitcoin exchanges work this way.
Articles that make it easy to enter the world of cryptocurrencies: The Learn section of their website contains in-depth material on various topics, from Bitcoin market cycles to cryptocurrency investing methods. However, there are now only a handful of articles on the site.
Customer service: Cryptocurrency beginners would greatly benefit from the availability of live chat as the subject can sometimes be very confusing. Unfortunately, Swyftx provides a chatbot that forces customers to choose from a limited set of questions before they can be connected to a support representative. However, these links often lead to publications that do not fully address the topic. You can also consider looking up Swyftx Fees Structure by Coin Culture. This pales compared to CoinSpot’s support team, which is available 24/7 via live chat, email, and even a callback service.
Staking out: Towards the end of 2021, staking will be implemented in Swyftx. It allows cryptocurrency investors to earn income simply by depositing coins into their Swyftx accounts. Available on the Swyftx mobile app and desktop platform, this feature will enable you to get rewards in the same cryptocurrency you bet. It is similar to earning interest on fiat currency in the bank. As seen in Swyftx Fees Structure by Coin Culture, it now offers only 16 coins for staking compared to CoinSpot’s 22 alternatives, all of which provide better returns.
Mobile App Swyftx offers a mobile app for both Android and iOS: The program eliminates the need to boot to your computer whenever you see movement in the cryptocurrency field. Trading any market can be challenging, and success often depends on up-to-date knowledge and the ability to react quickly. With software instantly installed on your smart devices, you can take action as soon as you open your phone.