Australian crypto exchange Swyftx has launched a portfolio transfer service to make it easier and safer for crypto users at competitor exchanges to move their assets.
The Brisbane-based business said the new service would allow crypto holders to transfer multiple crypto tokens in a single transaction for the first time. Crypto users currently are required to transfer individual assets one by one if they wish to switch platforms.
Chief Operating Officer at Swyftx, Jason Titman, said:
“We’ve seen an uptick in crypto users who want to move their assets to Aussie-owned and regulated platforms in response to FTX, as well as other recent regulatory enforcements.
“We expect crypto switching services to become an industry norm over the next five years as competition hots up. Even if exchanges don’t build them now, it’s likely that eventually they’ll be mandated by competition regulators. Just as we’ve seen in areas like bank account switching and mobile phone transferability between telcos.”
Swyftx Chief Operating Officer Jason Titman
The portfolio transfer feature will initially allow Australian customers at just two exchanges – Binance and Coinspot – to transfer their crypto portfolios across to Swyftx without any fees. Over the next few weeks, the service is expected to be expanded to include local customers at other global exchanges and smaller domestic competitors.
The portfolio transfer service works by using pre-existing APIs to transfer assets across the blockchain from one exchange to another. Swyftx said that the API data would not be stored or managed by the exchange.
Titman said the new service would reduce the risk of people losing crypto by inputting incorrect wallet addresses. It will also mean customers no longer have to transfer crypto one asset at a time.
Swyftx is one of the best options on the market for Australian cryptocurrency investors. The platform offers low trading fees (0.6%) and tight spreads, making it a cost-effective crypto exchange for buying, selling and trading digital currencies.
The crypto exchange’s streamlined design, support for recurring buys and live chat make it a comfortable choice for complete cryptocurrency novices.
More experienced users will enjoy a comprehensive earn hub, crypto bundles and a huge range of supported assets.
Advanced derivatives traders may want to look for an alternative exchange, as Swyftx does not offer futures, options or perpetual contracts.
Swyftx is an Australian cryptocurrency exchange headquartered in Milton, Brisbane. The platform was founded in 2017 by Alex Harper and Angus Goldman and has since expanded to service customers from New Zealand. The company also has plans to support customers from the UK and Canada.
Users can buy, sell and trade over 310 crypto assets using the platform’s streamlined yet customisable user interface. The huge variety of digital assets on offer makes Swyftx an excellent choice for both beginner and more experienced investors.
Australian crypto exchanges can be notorious for high, undisclosed spreads, but Swyftx is renowned for its fee transparency. The trading fee is a flat 0.6%, with the possibility of discounts based on high trading volume, and spreads are easily visible
The platform supports a competitive earn hub, SMSF (Self-Managed Super Fund) support, advanced order options and a demo trading mode.
In its relatively short life, Swyftx has established itself as a reliable, cost-effective and secure exchange. Beginners and intermediate investors alike will find themselves at home using the platform, although advanced users wishing to trade derivatives will want to look elsewhere.
Pros and cons
Pros
Cons
Competitive trading fees (0.6%) and transparent spreads, especially for an Australian exchange
Fees are a bit high for day-traders, compared to international trading platforms (like FTX or Binance)
Excellent reputation for security and trustworthiness
No advanced trading options like derivatives
Well-optimised and sleek mobile app
No insurance fund
Wide range of supported cryptocurrencies
Helpful features like earning, SMSF support and tax report generation
Is Swyftx safe?
Swyftx has built a reputation among the Australian community for being a trustworthy and safe exchange. In its 3+ years of operation, the platform has never reported a hack or other compromising event. Swyftx is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) and abides by all Anti-Money Laundering (AML), Know Your Customer (KYC) and Counter-Terrorism Financing (CTF) laws.
The cryptocurrency exchange prioritises the safety of its customer’s assets and utilises a multi-tiered security approach. Swyftx uses industry-standard security measures such as Two-Factor Authentication (2FA), cold storage, penetration testing, data encryption and the least privilege principle. Swyftx also aims to become one of the very few Australian exchanges to receive ISO 27001 certification. This certification is regarded as the international benchmark for security management.
Swyftx does not currently offer an insurance fund for crypto assets and fiat currency held on the platform. This does not necessarily make Swyftx any less safe than alternatives — particularly given its sparklingly clean track record — but it is still worth keeping in mind.
Swyftx customer support
Swyftx has one of the best customer support services for Australians wanting to buy and sell crypto. The platform hosts a comprehensive Help Centre, filled with 100+ helpful articles that walk customers through depositing AUD, placing buy/sell orders or customising the dashboard.
If the Help Centre doesn’t answer the question, Swyftx offers a 24/7 live chat. The support team is Australia-based and responsive, with wait times usually ten to fifteen minutes during work hours.
Swyftx has a 4.7/5 star rating on TrustPilot (from 3,822 reviews) and a 4.6/5 star rating on ProductReview (from 3,686 reviews), demonstrating the team’s excellent customer service.
Swyftx fees
Australian crypto exchange platforms are generally a little costlier than international alternatives, but Swyftx’s competitive trading fees stack up well against its local and overseas competitors.
Overall, Digital Surge is the only Australian exchange that currently has cheaper combined transaction fees and spreads than Swyftx.
Trading fees
Swyftx charges a flat trading fee of 0.6% on all transactions. This includes buying and selling cryptocurrencies with AUD or swapping one coin for another.
Customers can expect around a 1% trading fee on average when using other Australian exchanges, making Swyftx quite cost-effective.
Deposit & withdrawal fees
Fiat
Swyftx does not charge any fees on AUD deposits and withdrawals from an Australian bank account. Free and near-instant fiat transactions are a great feature of the exchange.
The deposit and withdrawal limit for AUD is $50,000 per transaction, per day. However, both of these limits can be extended upon request.
Credit/debit card deposits will incur a 3.6% third-party processing fee from Banxa. The maximum card deposit is $60,000 per month.
Cryptocurrency
Swyftx does not charge any fees for sending or receiving cryptocurrencies to a wallet. However, standard network (gas) fees will apply.
Spreads
Spreads are the difference in an asset’s price between the time an order is placed, and the time it is executed. Spreads are hidden fees that can make trades more expensive than they appear. Those new to trading may not know what spreads are and quickly become confused at the extra costs.
Swyftx hangs its hat on providing some of the tightest spreads in Australia. The platform is transparent with the spreads for each trade, with fees starting as low as 0.45%. The overall average spread of 1.7% is extremely competitive in the Australian market. Some customers have reported Swyftx’s competitors charging very high spreads of over 4%.
Swyftx features
Trading on Swyftx
Swyftx’s trading interface is clean and easy to navigate. Beginners can easily build their portfolio by setting up instant orders for buying or selling cryptocurrency. Finding coins to purchase is easy — users can simply type the coin’s name into the search bar and click “Buy”. Alternatively, customers can sort through the 310+ digital currencies based on recent price movements or market cap.
More experienced traders can set up advanced orders that trigger when an asset hits a specific price (effectively a limit order). This can be used to potentially buy or sell cryptocurrencies at a preferred value, instead of at the current market rate. The Swyftx trading terminal also offers a customisable chart.
It’s worth mentioning that Swyftx lacks several features advanced traders might desire, such as derivatives, market depth and an order book.
Earn
Swyftx supports earn wallets for 20 assets, where customers can lock up their tokens and passively earn returns of up to 65+%. Generally, the earning rates on offer are competitive for a centralized exchange. Although yields typically fluctuate, the APYs for assets like Kusama, Kava and Tron are above average. On the other hand, Ethereum and Solana have lower earning rates than if investors staked them on-chain.
Each asset is divided into three tiers, where the more cryptocurrency a customer locks up, the lower their earning rate. For example, someone staking less than 3 ETH could earn an APY of 2.5%. However, if they are staking more than 6 ETH, that APY drops to just 1.5%.
The Earn program works similarly to a high-interest savings account, where cryptocurrencies locked in an earn wallet are loaned to Swyftx without a minimum period. Swyftx then repays the “at-call” loan with interest.
There are no fees for depositing or withdrawing cryptocurrency from the Earn wallet. Some major digital currencies supported include Solana, Cardano, Ethereum, Cosmos and Polkadot.
In 2022, Swyftx removed four cryptocurrencies from their earn program — TrueAUD, USD Coin, USD Tether and Bitcoin — as a preventive method to ensure customer safety. Unfortunately, these cryptos are typically in high demand for passive earning, so some investors will need to find a suitable alternative.
Demo mode
Demo mode is a fantastic initiative by Swyftx that allows beginners to practice trading cryptocurrency without risking any capital. Swyftx is one of few exchanges that offer crypto demo trading accounts.
Switching to demo mode will provide each account with $10,000 in “mock” currency, which can then be used to build a virtual portfolio. Demo mode is a great way for newcomers to get used to the Swyftx platform, and for experienced investors to test new trading strategies.
Bundles
Swyftx offers nine different crypto bundles for customers to invest in. Bundles are a bit like exchange-traded funds (ETFs), being a curated basket of multiple digital currencies. Bundles are a great way to diversify your portfolio, as they are less exposed to the price swings of a single cryptocurrency.
Bundles range from the simple “Big Two”, which contains only Bitcoin and Ethereum, to the “Staking Coin”, which is filled with ten assets that can all be staked via Swyftx Earn.
SMSF
Swyftx allows eligible Australians to add cryptocurrency to their self-managed super fund (SMSF). This has become increasingly popular due to its tax benefits and the overall performance of cryptocurrency since its inception. Swyftx has partnered with crypto SMSF specialists New Brighton Capital to meet growing demand and address any regulatory risks.
To comply with Australian policies, users must create a separate Swyftx account specifically for trading crypto within an SMSF. To be approved for this account, customers must supply supporting documentation including financial records. For a full list of SMSF requirements, refer to the ATO.
Creating an SMSF can be a convoluted and confusing process, which is why Swyftx offers consultations with their experts.
OTC
High-volume traders, institutions and SMSF accounts can buy and sell over 280+ cryptocurrencies over the counter (OTC). Swyftx’s OTC desk supports trades of over $100,000 AUD and offers global liquidity and lower fees than other Australian competitors.
Affiliate program
Swyftx offers an affiliate program that more than 70,000 crypto investors have used. Customers with a valid Australian Business Number (ABN) will receive a commission for sharing promotional material and registering new users. Affiliates will receive 30% on all fees paid by new accounts that sign up with their unique referral link. Commissions are paid on the first week of every month.
Recurring orders
Swyftx allows its customers to automate investing through recurring orders, also known as dollar-cost averaging (DCA). DCA involves buying a certain amount of one — or multiple — cryptocurrency at regular intervals. This way, investors can ignore the short-term price fluctuations of an asset and continue accumulating.
Recurring orders are a powerful way for beginners to build a long-term crypto portfolio while mitigating the risks of trying to time the market. Swyftx customers can set up DCA orders for all 310+ supported assets, as well as crypto bundles.
Tax reports
One of Swyftx’s most compelling features is the platform’s ability to integrate with useful tax software. The Australian Tax Office (ATO) has cracked down on tax reporting for crypto investors, so Swyftx can help its customers ensure they’re meeting all their obligations.
Swyftx offers a free tax calculator. Using it is simple — customers just enter the value of disposed cryptocurrencies at the time of purchase and sale, as well as their taxable income. The calculator will then estimate the Capital Gains Tax owing come tax time.
Alternatively, Swyftx can be easily integrated with the popular tax reporting software Koinly and Crypto tax Calculator. Users can export a CSV file of their Swyftx trades for a specific timeframe and feed it into the Koinly software. That’s all there is to it — Koinly will then generate a tax report. Koinly can also connect directly to the Swyftx platform via an API key.
Business accounts
Swyftx supports business and trust accounts for professional traders and other crypto-related service providers. Personal, SMSF and entity accounts can all be linked to a single login, making cycling through them quite convenient.
Note: Users are required to create a personal account before they can open an entity account for their business or trust.
Swyftx mobile app
Swyftx offers a clean and responsive smartphone application for Android and iOS devices. The app supports most of the main features found on the desktop platform, including trading cryptocurrency on the go, receiving price notifications and transferring assets to an earn wallet.
The Swyftx mobile app has been generally well-received, with a 4.6/5 star rating and hundreds of thousands of downloads.
How to sign up to Swyftx
As one would expect from a modern, reputable exchange, signing up for a new account on Swyftx is an incredibly simple process.
Step 1
To get started, navigate to the Swyftx platform’s home page. From here, customers can select either the white “Signup” button in the top-right corner, or the large orange “Sign Up Now” button in the middle of the page.
Step 2
Even if you wish to create an entity or SMSF account, you will need to start off by registering a personal account. Continue the signup process by entering your country of residence and email address. Once done, select “Next”.
Step 3
Swyftx will now send a 6-digit verification code to verify the email address entered in the previous step. Input the numbers to complete email verification.
Step 4
Next, enter your first and last name, along with a mobile number. Swyftx will then require you to enter another 6-digit code, this time verifying the mobile number provided.
Step 5
Finally, new accounts must pass Know Your Customer (KYC) verification before they can start depositing AUD and trading cryptocurrency on the Swyftx platform. This is due to the Australian government’s AML and CTF policies.
To pass this process, you must have access to some form of government-issued identification, such as a driver’s license, passport or identity card. Take a photo (using a smartphone to do this is advisable) and upload them to complete verification. Once verified, the account is registered and ready to begin trading cryptocurrencies! The verification process usually takes a couple of minutes.
Although not a requirement, it is always recommended that new accounts enable Two-Factor Authentication (2FA) before doing anything else.
Frequently asked questions
Is Swyftx legitimate?
Yes, Swyftx is a legitimate cryptocurrency exchange that was founded in 2017 and has been servicing customers since 2019. Swyftx is headquartered in Brisbane, Australia and licensed as an Australian business.
Is Swyftx safe?
Yes, Swyftx is one of the safest exchanges on the market. The platform is dedicated to protecting its user’s assets, employing industry-standard security measures such as hot/cold wallet storage, data encryption and 2FA. The exchange has never experienced a hack or other form of public attack.
Is Swyftx a wallet?
Swyftx itself is not a wallet, however, the exchange does support storing over 310 cryptocurrencies on the platform. Additionally, Swyftx supports 15+ Earn wallets for customers to passively earn income on assets like Tron, Cardano and Ethereum. Although Swyftx’s wallets are safe, it is typically recommended to withdraw cryptocurrencies from exchange wallets to a third-party hardware wallet.
Can Swyftx be trusted?
Yes, Swyftx is one of the more reputable exchanges available to Australian investors. The company has an Australian-based support and development team and is registered with the relevant government agencies. Additionally, Swyftx has garnered impressive ratings of 4.5+ on Australian review websites such as TrustPilot and ProductReview.
Is Swyftx regulated?
Yes, Swyftx is registered with and regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). It is advised that crypto beginners stick to regulated exchanges, making Swyftx a solid option.
If you’re curious about crypto but slightly overwhelmed by the possibilities of the market, a crypto demo account can be the perfect starting point. Demo trading, also called paper trading, is the practice of utilising simulated funds to try your hand at cryptocurrency trading without the attached risk from a real transaction.
Jumping headfirst into crypto trading, as a beginner, can significantly increase your chances of losing money. Therefore, it is imperative that every trader is aware of the risks associated with the market, and that they are prepared to make smart financial decisions. With the crypto market known for its volatility, a crypto demo account provides the perfect ‘safe space’ to learn crypto trading and experiment with different trading strategies.
There are multiple demo crypto and bitcoin trading accounts on offer for those looking to experience the market. This page will cover the tips, tricks, and benefits of demo trading, alongside an introduction to some of the best crypto demo accounts in circulation.
What is crypto demo trading?
Crypto demo trading is an exercise designed to offer a trader the opportunity to gain exposure to market conditions and practice trading without risking their own money. When you begin your demo, you will receive a sum of artificial money that you can put towards buying, selling, and trading cryptocurrency. A virtual account is typically linked to real market data, meaning that not only can these accounts be useful for crypto beginners, but they also provide the perfect opportunity for more experienced traders to try various strategies.
Demo accounts can be found on numerous trading platforms and crypto exchanges. Not all crypto practice accounts are available for free; however, most will be. Each platform will vary in terms of usability, available trading tools and crypto pairs, and beginner-friendliness.
Benefits of Crypto Demo Trading
There are several benefits associated with demo trading. Not only are these practice accounts excellent for helping beginner investors find their feet within the market, but they also provide the perfect environment for experienced traders to trial trading strategies. Put simply, the benefits of crypto demo accounts are that they can be:
Great for beginner traders,
Helpful for the development of trading strategies, and
Ideal for building skills that may reduce financial risk.
Access to advanced trading tools
Important to remember: Experimenting with a free demo account does not substitute thorough investment research. These accounts serve to allow traders to put their research to the test. Ensure you are knowledgeable about the trading you wish to partake in, and then utilise a demo account to build on this.
Best crypto demo accounts
Unfortunately, most crypto exchanges and trading platforms don’t offer a demo mode. However, there are still several options available to Aussies. The following will be a comprehensive list of all the best demo accounts, to help simplify your decision.
1. Swyftx
Swyftx demo mode is beginner-friendly, prioritising ease of use and allowing traders to imitate most of the trading features Swyftx has to offer. Swyftx demo mode is quite intuitive and designed to mimic its real-world trading platform. Therefore, any potential confusion a trader might experience when switching Swyftx’s actual trading platform is removed. As the demo platform is aligned with the live platform, users can access features such as:
Price alerts,
More than 310 tradable assets,
Market depth and global liquidity,
Portfolio progress tracking,
Mobile and desktop applications, and
Live market trends
Every Swyftx demo account is credited with $10,000 USD of virtual funds, called ‘Mock Currency’. The balance cannot be added to once the account is opened; however, the customer support team can reset your Swyftx demo trading mode upon request. These funds can be used to buy, sell and trade BTC, ETH, XRP, DOGE, ADA and hundreds more.
Swyftx demo. Source: Swyftx
Creating a Swyftx demo trading account
It couldn’t be easier to get started with a Swyftx crypto demo, all you need to do is:
Create a Swyftx account: Sign up to the exchange using your name, email address, and phone number.
Switch your account to ‘demo mode’: You’ll find the switch at the top right side of your screen. Once you switch, a yellow banner will show at the top of your screen to indicate that you’re in demo mode.
Begin trading: Your mock currency will be credited, and you are then ready to start experimenting with the market.
It is important that you see the yellow banner if you are intending to trade crypto using the demo mode. If you’d like to trade with real-market data and zero financial risk, a Swyftx demo account might be right for you.
2. eToro
Trading platform and global financial brokerage, eToro, offers one of the more comprehensive demo accounts. Notably, the eToro demo mode permits its users to trade across a much broader range of markets, including stocks, commodities, currencies, indices, ETFs, and crypto. eToro’s demo crypto trading account grants traders $100,000 in artificial funds to put towards the development of a virtual portfolio.
Aside from Bitcoin demo trading, eToro allows users to select from 15 other cryptocurrencies for their mock transactions. Additionally, a standout feature for the eToro demo is the ‘social trading news feed’. This is the perfect space for interaction with other traders, offering you the opportunity to share your strategies or learn from others. Whilst you should not blindly follow a strategy without conducting your own research, this can be a great way to learn from more experienced traders. This social platform can be sorted by ‘popular investors’, thereby giving you direct access to the strategies of successful traders.
2. Access your ‘Virtual Portfolio’: Under your username, you will be presented with a dropdown. Click ‘Virtual portfolio’ which will take you to your demo account.
3. Begin trading: Your artificial funds will be deposited, and you are ready to begin to practise trading with real-time market data.
The eToro demo account enables traders to follow each investment’s real-time trends thanks to advanced analysis tools. Traders can also experiment with applying leverage, Stop Loss, and Take Profit features. eToro also lets its customers access ready-made thematic portfolios for further ease of use.
3. Binance
Crypto’s biggest exchange, Binance, calls its demo trading account ‘Mock Trading’; this can be found under Binance Futures trading. Futures is a more speculative trading style that involves trading derivative contracts at a set future price and date. The simulation trading platform is less accessible than other demos; however, as Futures trading is quite risky, learning without financial commitments can be very valuable.
Once you open your Binance Futures testnet (demo) account, you are credited 3000 USDT which is the equivalent of $3000 USD. Your virtual portfolio will permit you to utilise up to 25x leverage, place stop-losses, and take profit orders. The testnet also allows traders to adjust the risk level, providing an opportunity for investors of all calibres to grow. This demo account can additionally be accessed on mobile. Note that the Mock Trading environment’s candlestick charts and prices may differ from the market value.
Confirm a Binance Futures account: Under the profile icon in the top right corner, click ‘Mock Trading’ and confirm your intentions to make a Binance Futures testnet account.
Start trading: Experiment with trading futures.
Note that one negative aspect of the Binance demo account is that it does not cater to spot trading.
4. TradingView
The charting and social networking site, TradingView, was initially focused on stock scanning and charting. However, the site recently bridged into cryptocurrency and now monitors the historical prices of trading pairs across a variety of markets. Studying historical prices and conducting technical analysis can be useful for identifying patterns that may translate to the future price movements of assets. TradingView is not an exchange; therefore, users cannot deposit and trade with real currency. However, TradingView does offer demo crypto trading, permitting its users to learn from its advanced charting system.
TradingView calls its demo crypto account ‘Paper Trading’ and primarily caters to more advanced traders who seek to utilise a variety of charting tools to expand on their existing knowledge. Some of the key features of a TradingView crypto demo include:
Real market data from multiple exchanges
Price alerts and other indicators per chart
Trading strategy simulations and result measurements
Hundreds of trading pairs
Creating a TradingView demo trading account
Create an account: Once you have an account with TradingView, select ‘Paper Trading’ under the trading panel.
Start trading: To get started all you need to do is right-click on your chosen chart, hover your cursor over ‘Trade’, then click ‘Create New Order’ and you are ready to begin.
5. Plus500
Plus500 is notably one of the top-performing Contract for Difference (CFD) trading platforms. CFD means that traders are investing in financial products which track the prices of assets such as stocks, indices, Forex, ETFs, and cryptocurrencies. Due to this, any funds you invest in crypto, cannot be withdrawn to an external wallet. Plus500 is especially good for beginners, as it can teach aspiring traders the ropes. The interface is easy to use, and the ‘order entry window’ summarises useful trades for beginners using the demo crypto account.
Demo users can trade their CFDs with up to 30x leverage and can use artificial funds to trade with 17 different cryptocurrencies. Thanks to its functionality, Plus500 allows seasoned traders to practice high-risk trades. Tutorials can be accessed to guide beginner traders, and customer service is available at any time. Once you feel that you have had enough practice under your belt, the process of switching back to live trading is simple.
Creating a Plus500 demo trading account
Activate a demo crypto account: You do not need to open a real trading account to begin a demo; instead, when you reach the registration window click ‘Select Account Mode’ and sign up for the Demo Mode.
Complete the tutorial: The tutorial will guide you through the functionalities of the platform and teach you how to place trades.
Note that if the sum of your artificial funds drops under $200, your balance will be reset.
6. BitMart
BitMart is known for its multiple interesting features, including trading futures, crypto lending, and staking. Its demo crypto account interface almost perfectly matches its live trading interface and gives users access to integrated TradingView charts, which offer a range of technical indicators to assist with trading strategies. The user interface does have some slight variations in appearance for its futures markets, as to include the leverage options.
The practice account supplies a practice amount for the purchase of cryptocurrencies. And, whilst most live features can be accessed on the demo, switching to live trading offers multiple features, including:
Futures market trading with leverage up to 100x
Spot market trading with more than 90 crypto pairs against BTC, BMX, USDT, and ETH tokens
Lending on digital assets, with the potential to earn crypto interest up to 6.25% APY
Mobile app access for trading and monitoring your portfolio.
7. Bitsgap
Bitsgap is a trading platform with several valuable features, such as allowing users to manage multiple portfolios, trade multiple digital assets, and access trading bots. Integrated with 25 of the biggest global cryptocurrency exchanges (such as Kraken and Coinbase Pro), Bitsgap’s demo account (https://bitsgap.com/demo-trading) has access to all the features on its live trading platform. The demo account operates by replicating its supported exchange’s order books, offering traders the opportunity to:
Utilise the Smart order options and risk management tools to create safe investment strategies
Allow trading bots to trade for you when offline
Practice trading with multiple order types
Monitor portfolio profits and losses
Creating a Bitsgap demo account
Sign up or log in: The Bitsgap site can be easily navigated to register or log in.
Switch to the demo: You can enable Demo mode under your profile in the top right corner of your screen. You must make sure that the status is changed to ON.
Try it out: The Bitsgap Demo FAQ section provides a list of things it recommends beginners try if you aren’t sure where to begin.
Once your account is up and running you will receive 10 (demo) Bitcoin. This Bitcoin demo trading will help you to polish your trading skills at your own pace.
Tips to make demo trading more realistic
The primary aim of utilising demo trading is to learn in the most realistic scenario imaginable, without the attached financial risk. Therefore, to ensure you achieve this goal, we have compiled some tips to make sure your experience is as practical as possible.
1. Pretend it’s real money
If you can successfully disassociate from the notion that demo trading is fake, and instead pretend the funds you use are real, you are more likely to learn from the experience.
Moving into a demo experience fully committed to the concept that you are using real money, limits the chances of you making reckless decisions you might otherwise avoid. The downside of a demo account is that, for some, removing the risk also removes the commitment to learn the basic fundamentals of crypto trading. Therefore, pretending that all the financial risk remains, will likely prompt you to make smarter decisions, and you will thereby take more from the opportunity.
2. Account for slippage
The difference between the value of an asset when an order is placed, and its value when the order is fulfilled, is called slippage. Slippage can result in either a loss or a gain, and it is imperative that you take this into account in both a crypto demo and live trading.
You can work on accounting for slippage in your demo trading by:
Utilising a limit order
Determining your slippage tolerance
Using strategies (i.e. dividing one large order into multiple smaller ones)
Consider slippage when choosing the exchange you will eventually live trade with, as some exchanges have more features to aid with this than others.
3. Make high-volume trades that you wouldn’t normally make
Whilst you should do your best to pretend that your demo crypto account trading is real, don’t neglect the fact that you can experiment with the volume of your trades. Making higher volume trades that you might traditionally avoid in the real market is a great way to play with the concept of risk and reward.
At the end of the day, demo accounts create a safe environment for you to test your ideas and develop new strategies!
4. Research an asset before investing
Just because you have experimented with the best crypto demo accounts, and the real assets that you are interested in, does not mean you won’t require further research. Any investment you make, whether crypto-related or not, should be supported by in-depth research and understanding.
Once you switch to live trading the risk is real and making reckless trades without conducting thorough research can end up costing you.
Key Takeaways: Simulated trading is designed to offer you the opportunity to experiment with the market without fear of financial loss. There are multiple demo accounts on offer to suit traders of all experience levels. You can utilise these accounts to learn or test strategies; however, demo experimentation will never substitute quality investment research.
The rapidly growing cryptocurrency market has exploded in value and popularity over the last year. With Bitcoin prices fluctuating heavily, some are now saying it is a great time to buy in ahead of the inevitable bull market.
If you’re ready to get started with cryptocurrency investing, you’ll need to start by purchasing some Bitcoin. It’s the most popular and most trusted coin. This can be difficult and confusing for newer investors, as there are many different ways in which Bitcoin can be purchased.
Recent regulatory crackdowns and geopolitical issues around the world have placed Bitcoin under intense scrutiny, which has made it more difficult in some cases for investors to purchase cryptocurrency with fiat currency (such as Australian dollars).
While these events have made it slightly more difficult to buy bitcoin in Australia it’s still relatively easy to buy with the right method. In this guide, we’ll break down the five safest, simplest, and most reliable Australian Bitcoin exchanges.
What to Know Before Getting Started
Before jumping in and buying Bitcoin from any of these platforms, it’s important to ensure you understand how a Bitcoin wallet works. In order to receive your Bitcoin, you’ll need to provide your chosen Bitcoin broker with a valid wallet address.
You may also want to learn how to keep your coins safe and consider investing in a hardware wallet such as the Trezor or Ledger Nano S if you intend to purchase a large amount of Bitcoin.
There are a number of factors to consider when selecting a Bitcoin broker:
Payment methods: It’s possible to purchase Bitcoin with payment methods such as BPAY. Some platforms allow users to buy Bitcoin in person at a local news agent. Due to recent disruption from the big four banks both POLi and credit/debit card purchases are generally unavailable in Australia, although some highly compliant platforms still provide POLi payments.
Fees: A Bitcoin broker will charge a fee for their service, which will vary from broker to broker.
ID verification requirements: All Bitcoin brokers operating in Australia are required to comply with Know Your Customer and Anti-Money Laundering laws, which means you’ll need to verify your identity before buying. The sole exception to this rule is LocalBitcoins, which makes it possible to purchase Bitcoin completely anonymously with cash in person.
Swyftx is one of Australia’s top-rated exchanges, boasting high TrustPilot scores and offering over 300+ tradeable crypto assets including Bitcoin, Ethereum and Solana. The exchange is highly secure being AUSTRAC registered and ISO27001:2013 certified giving its users peace of mind that their data and investments are safe.
Swyftx is a feature-rich trading platform, one of its stand-out features is its ‘demo mode. This feature lets beginner crypto investors practice trading with US$10,000 in a risk-free simulated environment. Other notable features include recurring orders, trigger orders and price alerts.
Swyftx users can also earn interest on their Bitcoin investments with the exchange’s new Earn feature. This feature lets investors daily rewards on their Bitcoin and other cryptocurrencies when they add it to their Earn wallet. There are no associated fees with Earn and the funds can be pulled out of Earn at any time with no cost.
Swyftx is also great for any investors looking to purchase large amounts of Bitcoin (BTC). The exchange has one of Australia’s top-rated OTC desks, where investors can speak with an industry-leading expert about making high-volume trades over $100,000 AUD.
Payment method
There are numerous deposit methods on Swyftx’s exchange including; PayID, Bank Transfer, OSK, POLi and credit/debit card. Many of these payment methods allow for near-instant transactions.
Fees
Swyftx charges a trading fee of 0.6% which is lower than the Australian average. No fees for charged for deposits or withdrawals.
Independent Reserve is one of the most popular options for purchasing Bitcoin and other cryptocurrencies in Australia and operates as a fully-functional exchange. This means that you don’t need to set up a separate wallet to buy Bitcoin from Independent Reserve as they offer a hosted wallet solution.
Independent Reserve is the first Australian crypto exchange to be insured by a leading global insurer and the first crypto exchange to have an integrated KPMG tax tool.
The identity verification process for Independent Reserve involves uploading both a standard photo ID and proof of address documents as well as an extra step in which new users are required to confirm their account with a security code sent in the mail.
Independent Reserve also provides an easy-to-use exchange that can be used to sell or buy Bitcoin for fiat currencies. Capital generated from the sale of Bitcoin on Independent Reserve can be withdrawn directly to your bank account.
Independent Reserve also supports 13 popular cryptocurrencies including ETH, LTC, BCH, XRP, XLM, EOS, REP, GNT, BAT, OMG, ZRX and PLA, and allows users to trade in USD, AUD and NZD.
Payment Methods:
For AUD deposits, Independent Reserve offers Electronic Fund Transfer (EFT), Osko (PayID), and POLi. SWIFT payments are available for USD and NZD deposits and withdrawals.
Fees:
EFT deposits under $100 AUD are subject to a $0.99 processing fee, while larger deposits are free. SWIFT deposits over $5,000 are free, while smaller deposits are charged a $15 fee. Withdrawals from Bitcoin wallets hosted by Independent Reserve cost 0.0003 BTC. Bitcoin deposits are free, and AUD withdrawals are free. ‘Premium Account’ holders benefit directly from this insurance, the highest levels of support, reduced trading fees, and the very best of the platform.
CoinJar was the first Australian cryptocurrency platform to launch with support from venture capital funding and, like Independent Reserve, offers exchange and hosted wallet services. CoinJar stands out from the crowd with a slew of features that include a dedicated smartphone app and even a “CoinJar Swipe” debit card that allows users to spend cryptocurrency directly in fiat currency.
It’s possible to use CoinJar as a simple hosted cryptocurrency wallet anonymously, but in order to purchase Bitcoin you’ll need to verify your identity by providing proof of identity and proof of address documents.
Payment Methods:
CoinJar supports Blueshyft (which makes it possible to fund your Bitcoin purchases with cash in person), BPAY & PayID (instant deposits via NPP/Osko). As of Oct 2018, they no longer support POLi deposits.
Fees:
BPAY transfers are free from fees on the CoinJar platform while Blueshyft payments are subject to a processing fee of 1.5%. Although the fees are lower than Coinbase, we have found the price of Bitcoin on CoinJar to be slightly more expensive.
Coinbase is the undisputed king of cryptocurrency brokerage, and boasts almost 8 million users around the world. Based in San Francisco, Coinbase is available in 32 countries internationally and supports a selection of cryptocurrencies that includes Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
The Coinbase platform is not an exchange, and thus doesn’t make it possible to actually trade Bitcoin, but does offer hosted wallet solutions for all of the aforementioned cryptocurrencies. The Coinbase identity verification process involves both ID and phone number verification, but due to a massive surge in users the verification process is delayed at the moment – some new users are reporting verification times of more than one week.
The biggest drawcard of Coinbase is the simplicity and ease of use the platform offers. Instead of confusing new users with order books and trading screens, Coinbase delivers a straightforward buying process that doesn’t leave much to interpretation. Another drawback is that they restrict how much you can buy per week, with limits increasing with use.
Payment Methods:
As Coinbase is based internationally, it doesn’t support POLi payments. The only way to purchase Bitcoin via Coinbase in Australia is via credit or debit card, which requires identity verification. All Bitcoin purchases made via this method are instant, however.
Fees:
Coinbase charges a rate of 3.99% for all credit and debit card purchases in Australia.
Caleb and Brown is an award-winning digital currency brokerage registered with AUSTRAC. Founded in 2016 with a vision to become the conduit between cryptocurrency and the financial services industry, Caleb & Brown gives clients a sensible means to legally and safely engage in the cryptocurrency market with an experienced brokerage team providing an unparalleled service for both new investors and seasoned traders.
List of services includes: Retail Brokerage – access to over 1600 cryptocurrencies; OTC Trading desk; Cryptocurrency Education; Crypto Security and Wallet Set Up services; Crypto Tax Assessment services; ICO liquidations.
Caleb and Brown specialise in high-volume trading of digital currencies from $5,000 up to $100 million. They are Australia’s only brokerage service that enables same-day trading up to $2 million in purchases prior to banking deposit clearance for verified clients. Caleb & Brown was named FinTech start-up of the year at the 2018 Stockbroker and Financial Advisers Association (SAFAA) conference.
Payment Methods:
Simple bank-to-bank transfer from any local and international banks with KCY/AML verifications. Accepts all major international currencies.
Fees:
Caleb & Brown charges a commission varying between 2%-4% depending on the volume of the trade. NOTE: Caleb & Brown quotes a spot price derived as an average of international exchanges. No further spread is added to the spot price quoted.
BTC Markets is a slightly more complicated cryptocurrency platform geared towards experienced investors and traders. Based in Melbourne, BTC Markets is a full-service exchange and offers hosted wallet solutions.
Purchasing Bitcoin on BTC Markets is slightly more complicated than the other platforms in this guide. In order to buy Bitcoin with BTC Markets, users need to deposit AUD into their account and then trade on the BTC Market BTC/AUD exchange. This process may be somewhat intimidating to newer investors, but does present a range of different order types for experienced investors.
Payment Methods:
BTC Markets supports both POLi payments and BPAY. POLi payments under $500 typically clear within minutes, while BPAY payments can take up to two business days.
Fees:
Depositing AUD into a BTC Markets account with BPAY is free, while POLi payments incur a $3.30 fee.
Digital Surge is a crypto exchange based out of Brisbane, Australia. The exchange is focused on making crypto trading easy for beginners with a simple sign-up and verification process. Digital Surge users can easily track their portfolio and trade Bitcoin thanks to the crypto exchanges’ intuitive and minimalistic interface.
Digital Surge is also one of the cheapest Australian exchanges, offering customers trading fees as low as 0.1%. The exchange also has numerous trading features like price alerts, recurring orders and trigger orders. Users can also earn daily interest on 12+ cryptocurrencies thanks to Digital Surges’ new staking feature.
Payment Methods:
Digital Surge accepts payments via BPAY, POLi and PayID. The exchange currently does not accept credit card payments or bank transfers.
Fees:
All purchases made through Digital Surge come with a transaction fee that ranges from 0.1 to 0.5% depending on trade volume.
CoinTree is an Australian cryptocurrency exchange that allows users to purchase Bitcoin as well as trade a variety of different altcoins. Like Coinbase, CoinTree is designed with ease of use in mind and is geared towards newer cryptocurrency investors.
CoinTree has been in operation since 2013, and has gathered a significant amount of support in the Australian cryptocurrency community. The CoinTree platform also provides users with hosted wallet solutions.
Interestingly, CoinTree also makes it possible to pay bills using Bitcoin. Users are able to pay any common Australian bill by entering the biller code and customer reference number into the platform. CoinTree then provides the total converted rate into Bitcoin and pays the bill, fee-free.
Payment Methods:
CoinTree allows users to deposit cash directly into their account at any Australian bank, as well as POLi payments. Credit card or debit card purchases are not currently supported.
Fees
CoinTree offers extremely simple fees – all Bitcoin transactions are charged a 3% rate, while all other transfers are free.
CoinSpot is an Australian FinTech company founded in 2013 with a well-regarded reputation and customer service. CoinSpot also provides a competitive affiliate program receiving 25% of the commission fees they take on anyone you refer to them.
In terms of use, its website is clean and is fairly easy to use and buy Coins, with Bitcoin and more than 20 coins listed. But like most other exchanges here you cannot trade coins, only buy and sell. If you want to trade other coins, you’ll have to transfer your Bitcoin to an exchange such as Binance.
Payment Methods:
POLi, BPAY and Cash.
Fees:
For Bitcoin and Litecoin, the fee is 0.9% and for other coins it’s 2%-3% depending on the coin.
LocalBitcoins is wildly different from the other platforms presented in this guide. Using LocalBitcoins it’s possible to purchase Bitcoin completely anonymously with cash in person, but it can be somewhat riskier.
LocalBitcoins is essentially a marketplace that allows individuals to either buy or sell Bitcoin in person with cash or via bank transfer, PayPal, and many other payment methods. To buy Bitcoin on LocalBitcoins you’ll need to search for sellers in your local area and select your payment method.
LocalBitcoins provides users with a hosted wallet. When purchasing Bitcoin, a seller will place Bitcoin in escrow with the LocalBitcoins platform. When payment is complete the seller will release the escrow to the buyer’s wallet. If you decide to use LocalBitcoins to purchase Bitcoin anonymously, always be sure to check the seller’s profile page for positive feedback.
Payment Methods:
Cash, Paypal, Bank Transfer, Western Union, BPAY and more.
Fees:
The price of Bitcoin on LocalBitcoins is determined by the seller and varies wildly. You may find that purchasing Bitcoin anonymously is more expensive than using a more reputable broker platform. LocalBitcoins also charges a fee when Bitcoin is transferred to another wallet from their hosted wallet. An explanation of LocalBitcoins’ outgoing Bitcoin transfer fees can be found here.
Final Thoughts
Despite heavy resistance from incumbent financial institutions and major price fluctuations, Bitcoin is here to stay. Whether you choose to purchase Bitcoin from an exchange, a broker, or from an anonymous stranger, always be sure to remain cautious and keep your cryptocurrency details highly secure.
Two of Australia’s most popular fintechs have announced an historic merger that will create the country’s first digital and traditional finance powerhouse.
The partnership between digital asset broker Swyftx and share trading and superannuation platform Superhero will establish an A$1.5 billion financial services giant. The combined group will count over 800,000 customers at completion.
Swyftx co-founders Alex Harper (left) and Angus Goldman (second from right) with John Winters (right) and Wayne Baskin of Superhero.
The merged business will become the first in Australia to offer access to both decentralised and traditional finance, supporting trading and investing across cryptocurrencies, equities and superannuation.
The proposed merger represents a significant step for both businesses in terms of their evolution from disruptive tech players into a single, major financial institution that can grow across domestic and international markets.
Alex Harper, co-founder, Swyftx
In July 2021, Superhero released its flagship superannuation offering, Superhero Super, allowing Australians the opportunity to invest their retirement savings in a range of portfolios, including direct ASX-listed shares and ETFs.
We are thrilled to announce this merger and offer our customers the opportunity to invest in traditional and digital assets across a single platform. The Swyftx team has achieved amazing things since launching in 2018 and we can’t wait to join together to offer investors an even better investing experience.
John Winters, co-founder, Superhero
A Closer Look at the Merger
Swyftx grew its investor base by around 1,200 percent last year, and is Australia’s top-rated digital assets exchange – providing access to more than 320 digital currencies and crypto interest-earning features.
Co-founded in 2018 by Alex Harper and Angus Goldman, the business currently has more than 600,000 retail and corporate investors on its platform.
Superhero is an Australian-owned and operated platform that offers its customers access to share in trading and a super fund. On its platform, customers can access more than 2,500 ASX-listed companies and ETFs with A$5 brokerage fees and over 4,500 US stocks and ETFs with US$0 brokerage.
The combinedbusiness will support 800,000 investors across New Zealand and Australia, with offices in Brisbane, Sydney, London and Vancouver. Swyftx expanded its bases to New Zealand in August of 2021. The merger is expected to be completed in early FY23, and on completion, Swyftx says it will offer its customers access to:
one login across both platforms;
one customer support team; and
one platform that tracks and manages cryptocurrencies, equities, and superannuation.
One of Australia’s largest cryptocurrency exchanges, Swyftx has announced its intention to break into mainstream financial markets with the launch of one of the world’s most competitive interest rate offerings.
Swyftx is the first Australian cryptocurrency exchange to launch an ‘at call’ Earn feature that offers interest on assets like Bitcoin, Ethereum and USDT without any lock-in periods.
Earn services work by flipping the traditional lending model on its head, with customers converting fiat into crypto and then lending those digital assets back to the platform in return for interest.
Swyftx Chief Executive Officer, Ryan Parsons, said the exchange’s Earn feature was one of the most competitive in crypto:
“Australia has among the highest levels of crypto adoption in the world and you’re going to see this translate into service offerings that are hyper-competitive,” said Parsons.
“Very few global exchanges are offering crypto users the level of interest rates that we are without also having lock-in periods.
Over the next two to five years, we expect Earn and other crypto innovations to totally transform the way Australians and other nationalities choose to diversify and manage their wealth.
Ryan Parsons, Chief Executive Officer, Swyftx
Australian-owned Swyftx was founded in 2018 by high-school friends Alex Harper (then 27) and Angus Goldman (also 27). It is the country’s top-rated cryptocurrency exchange, with around 600,000 customers across the country, up from 220,000 customers this time last year.
Its customers will be able to earn interest, fee-free, by converting fiat into a variety of digital assets, including Bitcoin, Ethereum, and stablecoins like USDC and TAUD (True AUD).
Different digital assets will attract different levels of interest that reflect the underlying fundamentals of each individual asset, including price volatility. Popular stablecoins USDC and USDT will attract interest rates of up to 6.7%, with other assets like Bitcoin and Ethereum attracting up to 5.1%.
Parsons said he expected Swyftx Earn to appeal to a broad cross-section of Australians. Around 25% of adults in the country own, or have owned cryptocurrency in the past.
“Our expectation is that you’ll start to see many more Aussies using crypto wealth services as they become more familiar with digital assets,” said Parsons.
“We’re looking at significant pockets of traditional finance and thinking, ‘you know what, we can out-compete you’.”
Swyftx is offering consumers the ability to earn up to 5.3% in interest on the Australian stablecoin TAUD, paid out in TAUD. This means users can generate returns while minimising the typical volatility found in crypto. There will be zero fees for buying, selling and earning on TAUD.
Investors will be able to withdraw funds from Earn at any time, with no exit fees or notice period. However, the feature is not covered by the Australian Government’s Financial Claim Scheme and rates are variable.
Australia’s popular cryptocurrency exchange Swyftx has made sporting history, inking a three-year partnership with the National Rugby League (NRL) to become its exclusive crypto exchange partner.
Swyftx’s NRL deal is the code’s inaugural crypto exchange sponsorship and represents a major investment across a three-year term, with options to continue until the end of the 2026 season.
Brisbane-based Swyftx is now the NRL’s official crypto exchange partner, capping a period of extraordinary growth for the company that was founded by friends Alex Harper (27) and Angus Goldman (27) in 2018. Mr Harper and Mr Goldman developed Swyftx while living in a share-house and have since grown the company into a thriving international exchange.
Swyftx CEO Ryan Parsons, a lifelong Canberra Raiders fan, said the sponsorship is further indication of the increased acceptance of digital assets as mainstream investments.
This is a defining partnership for the NRL and Swyftx and represents a major milestone for the Australian crypto industry.
Swyftx CEO Ryan Parsons
“Our Brisbane office overlooks the cauldron, Suncorp Stadium, and many of our staff walk to the ground after work to watch the NRL Telstra Premiership or Ampol State of Origin.
“It’s now clear that crypto and digital asset investing forms part of a typical portfolio, and it’s great to see Australians embracing this new technology.”
Swyftx’s partnership with the NRL will support the NRL and NRLW games, finals, and State of Origin series as well as the All-Stars games.
We’re excited to welcome Swyftx as a major partner. Swyftx is an Australian business that operates on a global scale and there are unique ways for our partnership to benefit both organisations.
NRL Chief Executive Andrew Abdo
“We have a diverse fan base and Swyftx brings an opportunity to promote the game to a wide audience.”
The Swyftx name will appear on LED signage in stadiums and virtual signage broadcast to more than 100 million viewers per year.
In-Game Review Board Renamed ‘Swyftx Bunker’
The NRL’s in-game review board will be renamed the ‘Swyftx Bunker’. Source: nrl.com
The Australian exchange will also be the naming sponsor for the NRL’s decision board, with the ‘Swyftx Bunker’ being introduced in 2023.
“More than 3.5 million people tuned in to see the Panthers win last year’s decider and the NRL’s viewership has increased dramatically in the past 18 months,” Mr Parsons said.
“We have great alignment with the NRL and are a proud partner. At Swyftx we’re a customer-first business at the forefront of an innovative industry. The NRL has continued to evolve and taken the game to new levels with their innovative rule changes to improve gameplay over the past couple of years.
“Beyond that, I couldn’t have been more impressed by the way Peter V’landys, Andrew Abdo and the entire NRL got the game back up and running, the first sport to do so, during the early days of COVID. That commitment to the game and the rugby league community was inspiring.”
Swyftx is the country’s top-rated and fastest-growing Australian-owned crypto exchange, with more than half a million customers across Australia and New Zealand.
The exchange also supports trading in more than 300 digital currencies and is growing rapidly with 180 staff on board and a hiring rate of one new staff member every day.
Australian digital assets exchange Swyftx has today announced a major two-year partnership with the Brisbane Lions.
The country’s top-rated cryptocurrency exchange will join forces with the AFL team as its official Coaches Partner.
Swyftx chief executive officer, Ryan Parsons, said the Lions sponsorship capped an important year for the Brisbane-based exchange, which has grown its customer base by more than 1,200% since the start of 2021.
“This partnership brings together the best AFL team in Australia and its most popular cryptocurrency exchange,” Parsons said. “We’re both progressive teams with strong values so we’re delighted to be joining forces.
“Chris Fagan is one of the most respected coaches in Australian sport, with a huge following and an exciting coaching team behind him. We’re looking forward to seeing what our two great Brisbane-based teams can build.”
Swyftx was founded in 2018 and currently supports more than 470,000 customers around the country. The multi-award-winning company is Australia’s top-rated exchange on Trustpilot.
The two-year deal comes with an option for a further one-year extension.
Lions senior coach Chris Fagan thanked Swyftx for its support and described the success of the award-winning business as an inspiration to the coaches.
“As a coaching group we are always looking for ways to encourage growth in our players and to reward our stakeholders, which are our members and fans, with our performances,’’ Fagan said.
“In Swyftx I see an organisation that has achieved incredible growth and delivered a first-class platform for their clients.’’
Australia’s top-rated cryptocurrency exchange Swyftx is celebrating a year of extraordinary growth with a $100,000+ Christmas giveaway.
Swyftx was named Brisbane’s High Growth Business of the Year in 2021 after it became the country’s second-largest digital asset exchange by trade volume. It currently supports more than 470,000 customers across Australia and New Zealand.
The 12-day festive giveaway runs from December 14 to 25. It culminates on Christmas Day with one Australian resident picking up a Tesla Model 3. The company is also giving away a wide range of other prizes, including drones, games consoles, laptops and Bitcoin.
It’s been a genuinely remarkable year. Not just for crypto but also Swyftx. We’ve grown our customer base across the ANZ region by more than 1,200% in 2021.
Chris Vanek, Swyftx CMO
“This is our way of celebrating and giving back to the thousands of customers who’ve rated us the top crypto exchange on Trustpilot.”
Swyftx’s 12 days of Christmas giveaways
In total, the company’s Christmas giveaway in Australia and New Zealand is worth more than A$125,000. Customers will be eligible for the prize draw by conducting a range of free actions listed on the page, such as sharing and following social media channels.
Full details of entry requirements and T&Cs are available on the company’s website. Winners will be announced on December 27, 2021.
To enter the promotion, all applicants must be over the age of 18, be a resident of Australia or New Zealand, and have a verified Swyftx account.
Australian digital assets exchange Swyftx has today announced two major Motorsports sponsorships at Bathurst amid growing interest in crypto among race fans and drivers.
Swyftx chief marketing officer, Chris Vanek, said Australian Motorsport was now a focus for the company, with racing attracting significant national and international coverage.
Swyftx is the country’s top-rated exchange and second-largest by trade volume, with more than 470,000 customers across the ANZ region.
As part of its Repco Bathurst 1000 partnership, Swyftx is sponsoring signage at iconic locations around the Mount Panorama circuit, including Brock’s Skyline and pit entry. It has also taken sponsorship of Jordan Cox’s car at the TCR Bathurst 400.
It marks another significant investment into Australian Motorsport by Swyftx. In July the exchange supported the WD-40 Townsville SuperSprint event.
We jumped at the chance to be a part of Bathurst with both Supercars and Jordan because it’s such an iconic event in the Australian motor racing calendar and watched by millions in Australia and around the world.
Chris Vanek – Swyftx CMO
Vanek added: “This partnership brings together the most exciting drivers on the Bathurst track with the country’s most popular exchange, so we’re delighted to be joining forces.”
