Similar to the recent Coinspot freebie.
Select "Sign Up" after clicking the link and you will see the promotion applied.
Verify email, phone number and enter your Passport number/Other accepted ID (no uploads required).
No deposit required
$15AUD worth of Bitcoin was received in my portfolio around a minute after the verification was finished.
Referee and referrer each get A$10 worth of Bitcoin credited to your Swyftx accounts after referee makes a trade within 30 days of signing up.
What would you use to buy crypto then?
It's a form of financial company that can trade millions of dollars in one transaction. Swyftx and the government require identity authentication to reduce risk, avoid fraudulent transactions, reduce criminal transactions and of course so you pay the correct tax on profits.
This is pretty standard…kind of like when you set up a bank account. It's called KYC (know your customer). Their are other form ID, like a license.
The next level of identity authentication is uploading a selfie of yourself hold up a certain amount of fingers.
Obviously, you're not going to do all this for just $15. This is to lure in people who are thinking about tipping their toes into the crypto world. Plus, there are fees to withdraw from the exchange. DYOR.
It's a form of financial company
Lol, I'm a financial company, please send me your passport details…
I think the point of Bitcoin is to avoid all these KYC mumbo jumbo.
Sure, people who don't want to be involved with KYC then can just not be an exchange customer. There are ways to obtain crypto without going through an exchange.
Why downvote so much? Passport information is 100 points ID. A valid concern. Anyone else remember what happened to Mt.Gox?
$15 is cheap. I'm sure passport info is more than $15 a pop on the black market.
thank you, it works!
I know it works. Don't check your bank account yet as I need 24 hours head start before the cybercops come looking.
probably shouldn't embed your ref code in the link.. will wait until they set up a randomizer
Thanks for raising this. It's not actually my referral, I took the exact link they quoted and just noticed it has their referral embedded. (Which is not allowed on OzB)
I have managed to tweak the link buy removing the referral and retain the promotion..Hopefully it still works.
Would have been handy in 2015!
$1000 by now?
At least 10000%
2027: "Would have been handy in 2021!"
Don't do it guys. I kept getting marketing calls after I signed up.
Yep if you aren't paying for the product you are the product
Nothing to stop them selling your details to scammers
And remember if you use your licence number in some states this can't be changed
Been using this app for 3 months and I haven't received marketing call yet.
Great service provided by Swyftx. Next Level customer service and low fees. Only downside is limited access to new and undervalued Crypto.
I've never had a marketing call in the past 12 months, but do receive emails about upcoming events or new coins.
How can you get a marketing call. When I ring my own number I get an engaged signal.
You haven't been getting the calls. Do you have security measures in place e.g. password managers that's why?
So are these random marketing calls or calls from Swyftx? You might want to clarify.
Been with Swyftx for a while with a unique email and never received a thing.
I've been with SwyftX for 4 months or so and not had any spam.
4 months and not a single call…
Regarding this, I personally kept getting marketing calls for months where they had access to my full legal name which rang some bells since I only ever add my middle name when required.
However I did sign up to swyftx's referral program and they did say its a third party so Im almost certain that's the one selling details. My coworkers and friends also signed up to swyftx with me and they haven't been getting spam, but they also didn't sign up to the referral program.
I tried closing my account and deleting my personal information but in the autoreply in the bot chat says they cant delete personal information due to regulatory requirements. so something to consider as well.
and you are forced to do an annoying recaptcha are you robot every single time you log in on the website. Maybe they're making money out of these recaptchas.
Also despite advertising lower fees and better spreads, I found their BTC selling price when comparing with Coinspot to be materially worse.
https://pictr.com/images/2021/04/16/7qqxfV.png
Then there are fees:
Fees: $2 fee on withdrawals under $200 AUD. No fee on larger withdrawals
Exchange: AUD withdrawals will be exchanged from the USD balance on your account @ ~ $1.2914 AUD for $1 USD. This means smaller spreads when trading, lower fees and better rates for you.
and others have mentioned a min sell amount for BTC below
All those things add up for me to have Coinspot the clear winner.
On the app never have to do the recaptchas
And if you’re doing transactions under $200, probably best to not invest in cryptos
well, not everyone uses the app.
and cryptos aren't "investment" - they're speculations at best. just like any other commodities.
People who mine small time may like to cash out below $200 on a regular basis and not locked in until they gather a minimum of 0.003 btc to withdrawal.
fees + worse off BTC rate + clunky website + min withdrawals - not sure why anyone would use swyftx over coinspot.
@lawyerz: I get no fees. App is not “clunky” and min. Withdrawals aren’t a issue for me either
So that’s why I use swyftx over coinspot.
@lawyerz: Bitaroo is cheaper for BTC.
Coinspot only has 14 coins at their lower rate on their 'Markets' list. Every other coin on their 'Buy/Sell' list is at 1%, which is ridiculous. Better off with Binance.
The Swyftx website is fine. The Captcha is a click of a box, but you still have to 2FA anyway…
The app is fine too. It takes a moment to load and you can use biometric login as well.
@lawyerz: The same could be said about I'm not sure why anyone would use Coinspot over Binance or FTX. Last I checked, Coinspot had pretty crappy fees.
If I just wanted to take this free $15 and run (transfer it to Coinspot), how easy would that be and how much might I actually end up with?
So odd. I use Swyftx on my desktop and never had to repeat captcha when logging in. It only asks me to input my 2FA code since I have that activated. Might be a browser thing.
That's so strange! I haven't yet activated MFA (no money in there) maybe that's why!
Take +1 for clarifying, MFA might turn off recaptcha. Or maybe it's my browser (edge chromium). Or privacy badger / ublock origin extensions.
@lawyerz: Yep, just tested it with Brave browser and got a captcha (but none on Chrome or Firefox) so I suspect it's the privacy extension.
Idiots will sell thier personal details for $15. I hope they enjoy spam emails and calls.
Spam folder in Gmail
Better coins anyway now
I registered, but did not get any
So what is a trusted Crypto trader that has new currencies?
Binance
Can anyone tell me why buy prices would be so different compared to Coinspot - for instance just looking at RUNE and it's $19.25 on Swyftx and $19.71 on Coinspot ? Thanks
Wow, thanks for heads up.
Don't forget the fees. The 'markets' crypto on Coinspot has 0.1% fees, whereas every other coin on the 'buy/sell' tab has 1%! Keep that mind.
This spreadsheet gives an indication of fees. Keep in mind this is only for Bitcoin.
https://docs.google.com/spreadsheets/u/0/d/1tbryW96yjs0R-R8s…
Thanks. What is involved in KYC for Bitaroo, can you just verify with license number like this one or do you have to upload identity docs?
BUSD pairs on Binance are free until June. You could just send your AUD via PayID, buy BUSD then buy any other crypto that way.
https://www.binance.com/en/support/announcement/78eb322f07da…
Bitcoin is a scam, I've been telling everyone since it was $3500 and I'll continue to do so when it reaches $300,000 next year and a million in five years.
As long as I'm making $$$ I don't give a $#$#
Well that's the trick, when you start losing money you will care, but by then it will be too late.
Yeah, it's basically a ponzi scheme is a large scale. You can make money out of it, just need to get in early and get out before it collapses.
just need to get in early
Like 2009 early when it was 80c? 2011 early when it was like $20? Or last year early when surely it wasn't going any more above $15,000?
before it collapses
Yeah, after every "collapse" the naysayers have always shouted "Bitcoin is dead!". It's been 13 years and it's not going away. Everyone who's calling it a scam is literally the same salty people who are mad they didn't get in on the ground floor.
Salty sailors everywhere.
Bitcoin or any other cryptos are not income producing assets. They don't have any intrinsic value. Share price goes up because the company is making money by producing something or providing services or whatever they are doing to make money.
Traditional currency market is there to buy things from a specific country.
Cryptos are different, people use them to speculate. The reason the price keeps going up is because there are people who are still buying, holding it and hoping to sell it at a higher price. Who bought bitcoin because they use it to buy stuff (that is not illegal) that only accepts btc? Who bought / use eth for their "smart contracts". XRP is used by mainstream financial institutions? Give me a break.. why would banks / financial institutions use XRP with such volatility?
The total money in the world would not magically become higher because crypto prices goes up. It's basically transferring money from one person to another. If you made $10k from crypto, there is another person that actually lost that much.
I think cryptos are crazy and there is no way it could keep going up like that without going to collapse in the future. When? No one would know, as long as there is the next fool that would pay more than you paid for, it would keep going up. I am that fool myself, I've mined, bought, sold and currently holding a few BTC, ETH and XRP and I am enjoying the bull ride atm like everyone else.
@goms: Just do yourself a favour and stay out of what you don’t understand mate. Stick to what you know or get burnt. You’re clearly out of your depth.
@goms: You need to do some more research mate. Plenty of ways to earn a passive income from crypto by staking. I suggest you read a few white papers and you'll see there are more and more cryptos evolving with a real world purpose using blockchain technology. VET, ADA and AVA are some that come to mind.
@ilikeit: It's been 10+ years and no coin has any real world use case or even a prospect of being a real world use case.
@goms: I thought the whole purpose of Crypto was to disrupt the whole financial system. So for "why would banks / financial institutions use XRP with such volatility?" The answer would be, why do you need a bank? They could still function traditionally using a crypto tethered to AUD / USD etc. But why would you want to pay a bank+visa network etc whenever you buy something? You no longer need middle men. Plus they are instant (vs a couple of days 'pending' currently). So I guess it's the banks that are going to need to adapt if they are going to survive, not the other way around.
* this all based on my crypto experience of 1 week, and holding none :) Still in simulation phase, but definitely see the utility of it.
Future regulation and security are probably the biggest enemies of Crypto as I see it currently. Also the abundance of start ups holding huge liquidity and pulling the pin whenever they want. This needs regulation asap.
Scam? Care to elaborate?
One day it willl just turn off and anyone left over will be left with 0
lmao man you clearly have no idea wtf you're talking about. Yeah, some day I'll just call the President of Bitcoin and just tell him to 'turn it all off'.
@Smol Cat: Bitcoins are an intangible asset.
My wording was a very simplistic statement and you saying “president of Bitcoin” clearly shows you have no idea
Oh and FYI. I’ve made more then enough with bitcoins ;)
I’m not a naysayer. I’m just of the belief, what goes up must come down , especially with intangibles
@camelCaseee: Yeh when it crashes the people left over will have 0. The people buying now and making a profit arent going to be left with 0
@camelCaseee: Not sure why you’re both so upset with my opinion. I’ve never said people haven’t made money off it, I’ve never said I’ve gained or lost money on it, etc. etc.
It’s just my opinion that one day it will all collapse. Might be tomorrow, might be 2050, it also might be never.
Calm your farm. I’m assuming you bought massive blocks of land for redevelopment purposes with your Bitcoin profits ?
@Danstar: Hahaha oh man you really don’t understand sarcasm even when it’s right in your face do you??
How are you going to “turn off Bitcoin” someday? Are you going to ask every single decentralized miner to give up their nodes and shut down all at the same time? Are you going to crack the cryptography of the coins and gain every single private key? How exactly? Coz you clearly have zero idea wtf you’re on about mate.
Stop spreading your FUD around here. No one gives a shit if you’ve made money off it or not. Doesn’t make you smarter than anyone here. In fact you just sound like an idiot who got lucky. Plenty of those around. A broken clock is right twice a day as they say.
@Smol Cat: Don’t try to pass off your stupidity as sarcasm.
Been nice talking to you future president of Bitcoin
For it to turn off every miner would need to shut down their operations. There's too much money to be made for any one to say shut it off.
Don't get me wrong bitcoin will not be the biggest crypto in the future but it's current market cap is $1.5T AUD.
Bitcoin is like the invention of the phone. Someone down the track will make a better phone or smartphone that killer the original phone. But crypto in general is here to stay. Learn and adapt or just ignore and miss out.
Saying it will be worth $0 in the blink of an eye is like saying the $AUD will be worth $0 one day. It is possible but still too many people involved and too much money at stake for it to collapse that easy.
@Julzx: AUD is tangible.
Crypto is not.
You make good points, but like I said. It’s just my opinion.
I’ve made my money on btc and many other new coins popping up left right and centre
AUD is tangible.
Danstar makes a valid point.
You can use AUD bank notes as substitute toilet paper, if necessary.
You certainly couldn't do that with Crypto.
Did you drop a /s ?
Think it's a parody of Peter Schiff
when it reaches $300,000 next year and a million in five years.
Because it will always go up forever. Everyone knows that is the best approach to high risk investing…
I'm closer to buying second house thank to this scam so yeah why not
It's more about the technology behind crypto (the blockchain) that makes it valuable. Has the potential to be a new decentralized "internet" if managed correctly.
Clicking your coinspot link doesn’t go to that deal, it still opens the swyftx one
Fixed, thanks
I’ve used these guys. Invested a small amount of cash on a currency someone mentioned me me. Made 400% profit in 2 months and successfully Withdrew the cash into my bank account 2 minutes after submitting the request.
Have you kept some aside for CGT?
Not specifically with this money
Ah there's always a catch.
Can't sell to AUD because minimum order size is $25
Can't withdrawal because minimum amount is 0.001 BTC
Yep just found that also.
Can you trade for another coin? I can't se to find that function?
Ie another way to move out to my other wallets.
Can't see any other BTC pairs except to AUD :(
Guess wait for BTC to go up so our $15 is worth $25?!
This is the way
Or can we buy in $10 and then cash the $25 out that way?
Good spotting! Thanks.
This will be like $1.5 million in 2 years time.
Seems unlikely.
FYI any AUD you deposit into swyftx gets converted to USD automatically
Their exchange rates are so shit
What exchange do you prefer BTC and also for alt coins and why?
i found out DigitalSurge better as there is no conversion rate
Just want to ask you guys, have you all been getting people trying to scam you on cryptocurrency?
I signed up and received $15 worth of BTC in minutes. However, several annoying things to note:
So essentially your $15 worth of BTC is stuck on the platform. Unless BTC value doubles again, then you can sell to AUD and withdraw.
Janky method but you can deposit 200 and withdraw 215 to bypass the fee. Not ideal but possible
What are their fees? is it 1% like the coinspot?
0.6%
:)
It's great I have been using it for months, no issue's at all.
Fair enough. Just curious on why wouldn't you use Binance since it is just 0.1% fees with no minimum amount.
Swyft allows 10min approval process from start to finish, the 0.5% fee difference doesn't matter at all, plus they have Australian support.
I prefer it anyway :)
Get your bonuses in 12 months instead. This cycle is coming to an end soon.
No referral setup yet on ozbargain?
Wizard on 16/04/2021 - 05:45 Comment score below threshold.
