Swyftx Referral Code
Features of Swyftx
Swyftx provides a quick and easy process to register, verify, deposit funds and start trading. Unlike other exchanges in Australia, there is no need to upload identity documents or selfies and wait hours for the account to be approved before users can purchase cryptocurrency.
Users can get started with cryptocurrencies immediately with Swyftx’s quick verification process, which can be completed in minutes with a name, email address, and ID information.
Easy to use
The desktop and mobile applications are designed for beginners and intermediate investors to get started with digital currencies. It is easy to navigate the asset list, wallet, charts, withdrawals, and other features using the sidebar. The whole trading experience is straightforward on a fully customizable dashboard that can be tailored to suit any investor.
Swyftx is a popular Australian cryptocurrency exchange thanks to the support of various methods for transferring funds to an account. The cryptocurrency exchange offers a quick and easy way to instantly deposit up to AUD 50,000 using a wire transfer, OSKO, POLi payment, and PayID via an Australian bank account. Swyftx recently introduced credit card support to fund an account.
Is Swyftx safe?
The platform partnered with Auth0 specializing in cloud platform security to maintain the highest password and account security level.
Accounts are kept safe using two-factor authentication (2FA), which means you need something you know (password) and something you have (2FA device) to log in successfully. 2FA is required to confirm withdrawals, account detail changes, and some high-volume transactions.
How does Swyftx work?
Swyftx automatically optimizes each cryptocurrency order across multiple stock exchange orders to provide the best prices and liquidity. This means that the liquidity file on trading pairs (e.g., altcoins) on Swyftx is significantly higher than other cryptocurrency exchanges, resulting in lower spreads.
For example, a traditional cryptocurrency exchange will use its order records for each trading pair. Suppose there is a lack of trading activity for the particular currency. In that case, the spread fee can increase due to the lack of available liquidity. Swyftx solves this problem by tapping into billions of cash in one place from a more extensive cryptocurrency exchange like Binance.
Verification of identity
Due to local regulations, new users who create an account with Swyftx must verify their identity. To start the verification process, go to the left sidebar and click “Profile,” then “Verify” under your name. An online form will appear asking you only to provide:
- Email address
- Cellphone number
- Identity document number
Deposit of funds
Swyftx supports several payment options for its customers to transfer AUD to an account which includes PayID, POLi, wire transfer, and credit cards. It is not currently possible to purchase cryptocurrencies using a cash deposit or PayPal.
There is a minimum deposit amount of $ 30, and deposits below $ 200 will attract a $ 2 fee. The maximum deposit limit is $ 100,000 with complete verification.
Purchase of cryptocurrency
Swyftx provides a simple, clean, and easy-to-use trading experience file for new beginners or experienced investors. The dashboard includes a top bar with the real-time price of Bitcoin in AUD and other cryptocurrency assets. The left bar is the main navigation menu for viewing the trading window, changing your profile details, and quickly navigating Swyftx’s deposit and withdrawal functions.
To buy cryptocurrencies using Swyftx, there is a simple order entry form that estimates the price from 1 BTC to AUD and the amount to be paid in return. A great feature is the different types of orders available:
- Market order
- Limit order
- Stop the order
Advanced Order Execution Types are perfect for traders looking for a single platform exchange and trading interface to enable easier risk management and faster order execution. Traders can view a full-screen charting mode with advanced trading tools and charts.
The charts offer a wide range of time frames and price charts pair against AUD, USD, and Bitcoin. Several trading features can be overlaid, such as trend lines, indicators, and chart patterns to refine an entry using a market, limit or stop order.
Swyftx offers one of the lowest rates in Australia, with a flat rate of 0.6%. The cryptocurrency exchange’s deep liquidity provides users with spreads as low as 0.45% between buyers & sellers and reduced slippage.
Deposit & Withdrawal Fees
The maximum deposit and withdrawal amount is AUD 20,000 per day and can be increased to AUD 100,000 with advanced verification.
All deposits are automatically converted to USD by the cryptocurrency exchange based on the day’s conversion rate. This allows Swyftx to seek deeper liquidity partners by using USD pairs to offer tight spreads and ultimately cheaper cryptocurrency prices in AUD. Overall, the fees for deposits and withdrawals on Swyftx are very reasonable and competitive than other exchanges.