Australian Crypto Exchange currently offering one of the better signup bonuses - particularly given no deposit is required. Integrates with Koinly for ease of tax reporting.
Offer currently stacks with the Referral Links if you hit one link after the other.
UPDATE: Reports coming in that conditions of the offer have now changed. Sincerely hope that people were able to take advantage of the deal before this change occured.
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.
Is there any for existing Swyftx user?
Original text upon signing up
Sign Up to get $50 of free Bitcoin
Proud sponsor of the Finnies 2021
Changed to
Signup and verify for $50 of Bitcoin on us!
Looking for Spin to Win? No need to get lucky.
Contact us once verified to have promotion applied and we'll confirm your attendance at the Finnies
Looks like they've changed their mind.
Changed the terms mid way through. Let’s see if they honour those who signed up before it changed. 30 60 mins and waiting for chat reply.
Removed my neg vote. As mentioned by rep they have honoured for those in before a certain time. I have been credited BTC 0.00067992.
When you register to attend the finnies, it says this at the bottom of the form "We will not share your information with any sponsor. This information will only be used to track your attendance, ship the gift box (if the address is correct) and email you with updates about this year's Finnies."
So … if they don't share info with sponsors, how exactly are Swyftx going to verify attendance?
I'm sure it would be one of those walk up to the booth and sign in with us things..
i think it's a virtual event so no rocking up to a booth - https://www.thefinnies.org.au/individual-virtual-attendees/
However there was an event back in September so not sure what to believe https://events.humanitix.com/the-finnies-awards-2021
This has gone from good to bad real quick.
If I don’t get my fiddy I’ll be spamming their chat.
Their chat looks turned off for me… Only chatbot which is useless…
Damage control I guess, but not the right way to do it, they better come up with some offer quick…
I was asked to show proof of promo which I did. Hope it works
They should at least offer $10 credit in hopes people will keep their account with them after all the run around
why are there still upvotes happening on the deal - people need to read first :/
Nah they should close the offer and honour it for the people that have already signed up believing they were getting $50
I just get their reply:
“Unfortunately, Swyftx is not actively running a $50 sign up bonus, this may be communicated from a random individual that does not represent Swyftx. Unfortunately, we can't control what is posted on the internet.
However in the faith of goodwill, we'll be more than happy to credit $20BTC into your account right now and you should see this in your account in the next 20mins. This is $10 more than the usual sign up live campaign that we are currently running. ”
I thought something like that might be offered, that is better than nothing, good for those who missed out on the supercars offer last month
How can it be from a random individual? The site is under their domain… https://swyftx.com/finnies2021/
They've now deleted the page. Poor form on their behalf as now they are lying to cover their asses.
It seems they just deleted the page. Very dodgy. I'm not going to deposit even one dollar to this trading platform. It seems to be very unreliable.
This is a cache of that page: https://webcache.googleusercontent.com/search?q=cache:https:…
Definitely not 'a random individual'
I don't get it, OP link still shows $50 on us? So why they denied it in your chat?
https://swyftx.com/finnies2021/
says 404 page not found
Ah bummer, it still worked 10 mins ago.
They can control what was posted on https://swyftx.com/finnies2021/ until they suddenly changed it. It was their promotion and they know it. They've done a shifty on us and we provided full KYC in good faith. Dodgy.
got 0.00068btc :)
Did you contact them to get that?
i did. guess i was lucky as some others didn't get it.
Page has been taken down.
Is live chat shut down? Can't find a way to initiate chat.
Hi there, thanks for getting in touch 🙂 unfortunately this campaign was only on offer until 8:20am AEST. As a guesture of goodwill we will provide you with a credit of $20 which will be automatically applied to your account later so you won't need to do anything on your end.
Rubbish response! Damn. This is so shifty. Edit: how long did you wait for a reply?
8:20am? The page was active until 10 mins ago lol
Interesting. I signed up at 8.32am through the link that had the original page still posted. Still waiting for their reply.
I've gotten the same response
Chat replied to me and are reneging on the 50$ saying it's for funnies attendees only and have bait and switched to $20 as a good faith gesture.
Give them hell ozb
Got my $50.
Verified my account before 9am and this is my response at 10:43am after contacting them on live chat.
thanks for your patience and sorry for the confusion, we were still looking into how this issue came about. It was meant for attendees of the Finnies awards as you may have seen on the advertisement.
However as a show of good faith I have just credited you the full $50 worth of Bitcoin 😀
Hope you have a great day and happy trading!
Mine didn't come through immediately, so I messaged them and got the following response:
"Hi XXX, thanks for your patience and sorry for the confusion, we were still looking into how this issue came about as it was meant for attendees of the Finnies awards. You may have seen this on the advertisement.
However as a show of good faith I have just credited you the full $50 worth of Bitcoin 😀
Hope you have a great day and happy trading!"
nice… mine was $20
Tried the link just then and is still working.
Where did this link come from anyway (how did you find it OP?)
I spoke with their livechat, attached a screenshot of the initial offer.
My message to Live Chat:
'This was the offer when I signed up
*image attached
And I noticed that it was changed and then removed completely from the site
As I signed up when the initial offer was active, I would assume that would still be honouring this deal :)'
Their reply:
Hey XXXX, thanks for getting in touch, we will still be honouring that one for you 🙂 This campaign has gone wider than expected so we are currently working our way the crediting. We will automatically be crediting your account later so you won't need to do anything on your end. Did you need a hand with anything else at the moment?
So it looks like they will be honouring the $50 credit for those that signed up prior to them changing it - probably have a huge backlog tbh
I got an email saying it had been escalated so looking better atm
Yep. They honoured it. Pretty professionally handled what had been a mess. Kudos to them
Can confirm, they have honoured mine as well.
Hi XX thanks for your patience and sorry for the confusion, we were still looking into how this issue came about as it was meant for attendees of the Finnies awards. You may have seen this on the advertisement.
However as a show of good faith I have just credited you the full $50 worth of Bitcoin 😀
Hope you have a great day and happy trading!
I've had quiet quick responses to be fair, so hopefully all you others get sorted soon!
Thanks I modified your email but said essentially the same thing and got the $50.
Good on them, obviously a huge stuff up - probably reckoned on 50-100 attendees taking up the offer.
I got the Digital Surge offer earlier in the year for $10 or $20 something like that, and I told them I'd move across which I will.
Also bought $50 of the Shibu coin ;)
Hi everyone! This specific offer was intended for a sponsorship event, the 2021 Finnies Awards, and as such was only meant to be accessible by attendees - not the general public. The promotion was, however, leaked and our Customer Support team has honoured everyone who signed up using the promotional code up until 8:20am. We're sorry for all the confusion, but thanks for understanding and congrats to all those that managed to get in - enjoy the free $50 of BTC!
Well handled, unfortunately things like this do often run wild here on OZB. Buy the live chat team something nice for lunch, today is going to be stressful :)
will this be automatic for anyone before 8:20 or do we still have to chase up on chat? i was done before 8 but nothign so far
Hey there! Yes, you will have to contact Support and they will resolve this for you.
I signedf up before 8:20 and they still only gave me 20$..
Signed at 7:07 and still yet to receive a reply.
And what time did the T&C's change to reflect this?
Shouldn't you be offering it to all registrations that occurred while the promotion was active and available?
I have been waiting on livechat now for 57 minutes trying to get to someone as I signed up before 8:20am. The link was also up still as off less than half an hour ago or so https://webcache.googleusercontent.com/search?q=cache:https:…
This is not a very good reflection of SwyFtx from a new user here ….
I signed up well before 8am and still waiting for $50 bonus.
When you say "Our Customer Support team has honoured everyone who signed up using the promotional code up until 8:20am", it hasn't actually happened.
Hi Ash-Say,
We've identified those who have signed up before the time period stated above and working our way through the promotional credits with those who signed up. If you signed up before 8:20 with the promotional code, we are still honouring this. The support team is just currently under load from this morning so please be patient, they'll be in touch soon if you've opened a ticket!
What is the direct link to lodge the support ticket? I have been on hold with Live Support now for 1hr15min, I would rather have a ticket open instead of relying on something being or not being credited as expectation of people simply forgetting about it.
How do you lodge a ticket?
They say above you need to contact support. No way these guys will do it in somewhat professional manner. It was a publicly available link, I feel no pity for them. Being lazy and careless is no an excuse.
You can also see it was indexed in Google with the free $50 btc offer. This was never intended to be private. They just don’t wanna pony up
Signed up at 8:27 :(
Very unethical and the replies on the chat are like take it or leave it.
Mistakes happened in the Oz bargain in the past but yours is different. We have to provide you confidential information as part of verification. Hope you don't accidentally publish this data somewhere.
promotion was, however, leaked
Leaked? The link is publicly available. Something can't leak if you don't make it private in the first place.
There are publicly available English lessons online.
Lucky!
- Napoleon Dynamite
Changed the goal posts after being OzBargained. Great way to ensure people have no faith in the legitimacy of your new platform lol.
Should call them Shyftx……
Swyftx should just honour all the $50 and then close the promotion
Signed up & verified before 8am too (around 7.45am to be exact) and still waiting the $50.
Wohooo - already up 0.21% on the free $50 in BTC
I finally got a response from live chat saying they need to manually credit it to me. Whether or not that actually happens remains to be seen.
nothing yet, been waiting ages. just chat person saying i will send to relevant officer. jeez.
I signed up via the link, then queried through the chat when should i expect the free $50, got the reply -
"Unfortunately, the Swyftx $50 promotion is only meant for attendees of the Finnies awards as you may have seen on the advertisement."
does anyone have a screenshot of the promo? link doesn't work now
they did give me a $20 credit
They honored the $50 for me
Respect points earned in my books
Apparently my request was escalated some time ago but still haven't heard anything as yet, while it seems others are being awarded the $50 after querying directly in the chat. Seems a little inconsistent as to how this is being dealt with.
I have given up after being on live chat for over 1hr30min and reading the sentiments from the above comments with random people getting the $50 promo even though they admit they were outside the 8:20am signup, removal of the weblink that was up still hours after 8:20am ended. There is zero consistency.
Swyftx's handling of this promo does not inspire a whole lot of confidence in wanting to consider this exchange or recommending it in future. Keep the $50, you have shot yourselves in the foot.
First agent said too bad so sad, next agent honored the full amount.
Just depends on who you get.
Guys, I have a question.
If I have for example 2000$ in BTC and I want to deposit it from my wallet to Binance. Should I pay tax?
Tax has already been discussed above. ATO details when capital gains tax applies.
I read it but honestly I didn't understand.
I am asking if I had money in the form of cryptocurrency (I have never bought any crypto while living in Australia, using AUSD) and I suddenly decided to start to trade in Australia. If I deposit from my wallet (which the value was not purchased with any source of income from Australia) should I still pay tax?
I have no plan to withdraw any amount to AUSD. I would like to trade and keep all there not to spend any amount. Should I still pay tax if I don't have any withdrawal to AUSD?
There is no taxable event from simply transferring from one wallet or another as you have not disposed of any cryptocurrency.
With one exception, the transfer fee is taken as though you have disposed of that crypto asset at market value. E.g. if transfer fee is 0.0005 BTC from moving from SwyFtx to Binance.
@cute as duck: So if I start to trade with that money but I never withdraw any money out of the exchange, should I still pay tax?
@shahrah: Yes you pay tax if you start trading it. Doesn’t matter if you take it out of the exchange. Each trade is making a profit or a loss which is taxable.
@shahrah: Trade = buy and sell.
I think you are trying to say you will HODL when you used the term "trade"?
If you transfer between addresses and never sell (including swap which also triggers a taxable event), then there is no taxable event (except the transfer fee as I mentioned above).
People seem to think taxable events only occurs when you convert to fiat which is unsure.
You also need to report staking rewards which are additional taxable events.
The ATO has a section on cryptoassets you can review. If unsure, you can ask on the ATO community. There are too many different scenarios.
@cute as duck: I am trying to understand the whole story of crypto tax in Australia.
I have crypto from long time ago and as I was bored I decided to move some of them to an cryptocurrency exchange to play with. Mostly doing Futures trade.
So I have lost some amounts and then I have started to gain some of my lost. So I do futures trade in an unregulated exchange and when I earn some money there I transfer it to binance in a form of XRP and then I might convert XRP to other crypto by first exchange it to USDT and then buy other assets.
So now I am thinking which part of my action is taxable! And for example if I transfer 2000$ XRP from other exchange to binance and then change it to other crypto should I pay tax on the total value of the deposited money or only if I gain profits from my trade!
So now I am thinking which part of my action is taxable!
Certainly sounds like it.
And for example if I transfer 2000$ XRP from other exchange to binance and then change it to other crypto should I pay tax on the total value of the deposited money or only if I gain profits from my trade!
You pay tax on the capital gains, ie. how much it has increased from the time you purchased it compared to what it’s value is at the time of the new transaction.
@PainToad: So far anything I have changed dropped in value.
But the thing is, I will deposit more XRP and most likely it will continue for a while as I am trading in other places and bringing my gains in the form of XRP into binance. So will they ask where the XRP is coming from or will they only care when I exchange it for other assets?
@shahrah: I don't think it makes a difference where you are trading, it's still taxable.
If you are an Australian resident your capital gains on overseas assets are treated in the same way as on Australian property.
https://www.ato.gov.au/business/international-tax-for-busine…
@shahrah: Professional traders should consider incorporating their business in countries like Hong kong or the Bahamas where there is no CGT.
They have credited $50 after going through chat for me. Ultimately, good that they honored their promotion. Now to lose it all on some gambles.
Whilst happy for you, I love the inconsistency here. They wouldn't apply it to me after spending 1hr30min on live chat with them.
Go on the news and say you were discriminated.
Messaged via online chat, have now had $50 worth of BTC credited to my account.
Thanks Swyftx!
same happy customer here, would definitely use them
Hi X, thanks for your patience and sorry for the confusion, we were still looking into how this issue came about as it was meant for attendees of the Finnies awards. You may have seen this on the advertisement.
However as a show of good faith I have just credited you the full $50 worth of Bitcoin 😀
Hope you have a great day and happy trading!
I'll use them now, and possibly switch over if I don't find their UI a pain. They were good on their word.
even if you did get the $50, I wouldn't trust this shifty site to trade on. Get your money out and close the account as quickly as possible. Sounds super dodgy.
I've been trading with Swyftx for well over a year now and have never had any problems.
Don't shame a business because you're sad you didn't get free money, that wasn't intended for the public anyway.
Treat this like any other price error deal posted on OzB. If you got it, you're a true Ozbargainer! If you didn't, better luck next time!
I got the $50 credited after reaching out via chat.
The $50 is now worth $49.68 (insert gif of down rollercoaster Bitcoin arms flailing in the wind).
Looks like they are trying to scam everyone who signed up by changing the conditions? Does anyone have a screenshot from before they changed the page?