Swyftx is an Australian crypto exchange that allows users to buy, sell and trade more than 300 cryptocurrencies. The exchange claims more than 600,000 corporate and retail investors from Australia and New Zealand.
The platform offers an app, demo accounts, charting, tax reports, and an extensive selection of coins.
Swyftx automates crypto investing with recurring orders and allows you to buy multiple cryptocurrencies at once. Recurring orders are helpful in dollar-cost averaging, which is popular in highly volatile crypto markets.
Staking is a feature that was added to Swyftx towards the end of 2021. It allows crypto investors to earn interest on 20 coins by simply holding them in their Swyftx account.
The company was founded in 2018 by Alex Harper (Linkedin) and Ryan Parsons (Linkedin). They announced their merger with the online investment platform Superhero in June 2022, which is expected to be completed by mid-2023.
Swyftx laid off 74 employees due to the merger, representing about 21% of their workforce.
They are not a regulated exchange and do not hold an Australian financial services license or any other license.
However, Swyftx was registered as a New Zealand financial services provider in July 2021 (under SWYFTX PTY LTD – FSP1000861), allowing New Zealand-based customers to buy or sell various cryptocurrencies, including Bitcoin.
Swyftx has had no security breaches since its inception.
We rate the company on Green.