As you can see, everything is where you'd expect it to be. Both exchanges offer a massive range of supported cryptocurrencies, which is great for altcoin traders. As you can see, Swyftx stacks up pretty well when compared to its competitors. the difference between the bid and ask price) offered to the user. you can buy Axie Infinity with any Bitcoin you own! Smaller companies can do this by method of innovation in a market that is still in its infancy with massive untapped potential. Brett has been avidly investing in Crypto since 2016. How to withdraw money from Bybit to bank account in Australia Consider our Terms of Use and Risk Disclosure Statement for more details. Select the asset you want to withdraw. Swyftxprovides a secure wallet for its users to store and hold cryptocurrency assetsafter purchasing, trading or selling activities. Read ourdisclaimerto learn how we make money. To make a withdrawal from Swyftx, the exchange does not charge any fees. By eliminating the initial confusion suffered by beginner crypto investors, they've effectively saved their customers millions of dollars. This guide has been informed by our first-hand experience sending Bitcoin from our CoinSpot wallet to our Swyftx wallet. For full functionality of this site it is necessary to enable JavaScript. Often people will select the network with the lowest fees without checking if the wallet or exchange they are sending to is compatible with that network. How to Migrate Your Crypto to Ledger | Ledger This is all to ensure maximum security of the exchange. Below is a screenshot of the fields to complete when setting up a DCA order. There are no fees to withdraw digital currencies from CoinSpot, and no fees to receive them into your Swyftx wallet. Thing I like is they really check who you are thoroughly before letting you loose on the exchange. Choose your desired cryptocurrency from the list, 4. Polygon (MATIC) is compatible with Ethereum Virtual Machine (EVM) and uses the same address format. As Australia and New Zealand both have very similar regulations regarding cryptocurrency and finances in general, Swyftx is a great exchange for New Zealand residents. Swyftx is one of the most trusted crypto exchanges in Australia and New Zealand with over 600,000 customers. They make sure you know exactly what you're getting into before you make a trade or withdrawal. NOTE - Always triple-check to make sure that this address is correct as this transaction is irreversible! Selling crypto on Swyftx is almost identical to buying crypto and is just as easy. I've been with SwyftX for a few years now, and primarily stick with them due to the exceptional customer service. altcoins) that use their own order book. Verdict: Swyftx's instant withdrawals make them an easy winner for this category. fees? I keep getting a message to say - the network is temporarily suspended due to wallet maintenance. Swyftx Review 2023: Features, Fees, & Whether Its Good To Use Those who insist on trading with leverage can always purchase Bitcoin at Swyftx using AUD, and then transfer that Bitcoin to a reputable exchange that does offer leveraged trading. Keep your assets safe in our secure crypto wallet and access anytime with our user-friendly mobile app. Even with discounts for high volume users, their fees and spreads are certainly not competitive compared to Binance, and I would agree that for active trading SwyftX are simply not a viable choice. Verdict: I would happily use either exchange, and I do. The deep liquidity available gives users tight spreads from 0.45% and reduced slippage. Now that you have your wallet let's generate your receiving address 1. We truly believe that if Swyftx can maintain their current path and vision within the international markets, then they have the potential to become one of the largest cryptocurrency exchanges in the world. There are only four steps you need to take in order to send your crypto from CoinSpot to Swyftx. To do this, you will need to copy and paste your unique Swyftx wallet address into the Payment Address of each token wallet on your CoinSpot account. Due to standards set out by the Australian government, users will need to create an SMSF account that is separate from their personal account. Swyftx also offers stop loss and takes profit orders for those who want to get more technical with their trading. Made a btc deposit to my swyftx account yesterday morning and it has still not been credited. Swyftx offers a cheaper trading fee of 0.6% compared to CoinSpots higher fee if you use the Instant Buy/Sell feature. Overlaying charting tools and indicators on Swyftx. Enter your wallets name and your receiving address that we generated earlier (always double-check your address when dealing with crypto). As an added benefit, you can obtain $20 of free Bitcoin when you create a new Swyftx using our promotional $20 referral link. Pick the asset you'd like to withdraw from the asset list, 4. Enter the withdrawal amount in either crypto or AUD, 9. It employs strong security measures to protect users' information and funds such as AES-256 encryption, 2-Factor Authentication, and cold asset storage. There is no option to purchase crypto using a cash deposit or PayPal. Kevin is a cryptocurrency writer that has published hundreds of articles, guides, and reviews. Ethereum is one of the most popular early networks and was designed to enable other products to build on top of its infrastructure. Special care must be taken to ensure that you select the correct blockchain when sending your crypto. After conducting this comparison, it's hard not to notice how similar these two exchanges are. An example of the Bitcoin chart is shown below. Your account will be automatically updated with FREE . You'd almost expect an app with this many tools and features to be very clunky to use. We'll walk you through step by step using Bitbuy to withdraw CAD from, as they are one of the best exchanges to use in Canada. Great purchasing experience with Swyftx. Whats not to love? Choosing the wrong network when sending your crypto will result in funds not arriving at the receiving address. Soon after, Alex Harper and Angus Goldman got to work on building a completely user-friendly crypto exchange for Australians. The screenshot below displays the Tether USD (USDT) deposit page on Swyftx. Moreover, there is a full demo mode trading account for beginners to learn how to trade crypto and experience using the platform without real money. One thing to note is that CoinSpot doesnt charge any fees to withdraw crypto (or fiat currencies including AUD). Launch Date: 2019 | Transaction Fees: 0.6% | 24/7 support: Yes |Supported Cryptocurrencies: 245 | Supported Fiat: AUD| Mobile App: Yes | Based In: Australia | Demo Trading: Yes | KYC: Yes, Swyftx offers a complete package for traders. Swyftx - Buy Bitcoin & Crypto - Apps on Google Play As an example, a traditional Australian cryptocurrency exchange will use its own order books for each trading pair. Head back to the withdrawal page and click on the ', If you don't have an external crypto wallet yet, we highly recommend investing in one, as this is the most secure way to store your cryptocurrency.