TL;DR — I didn’t leave Swyftx; I added Block Earner for a different job: borrowing AUD against crypto without selling. If you want candlestick charts, order types, and trader-grade features, stick with a full exchange like Swyftx. If you want a clean path to crypto-backed loans, Block Earner is purpose-built and gave me a smooth experience. Ready to try it? Join via my affiliate link: danly.io/go/blockearner or use signup code NP7UALEP.
Who I Wrote This For#
- Aussies comparing local crypto platforms and wondering where Block Earner fits.
- Long-term BTC/ETH holders who don’t want to sell (and trigger tax events) but do want access to AUD liquidity.
- Builders and investors who want a line of credit to pounce on opportunities or smooth cash flow—without liquidating their core stack.
- XRP holders who want to take advantage of leverage. (XRP Loans are comming soon to Block Earner)
Quick CTA: If that’s you, test the waters here: danly.io/go/blockearner (code NP7UALEP).
Why I Partly Switched From Swyftx to Try Block Earner#
I’ve used Swyftx for years. It’s familiar, local, and friendly for day-to-day trading. But my approach has evolved: I’m increasingly obsessed with capital efficiency—keeping long-term crypto exposure while unlocking cash when I need it.
That’s what led me to Block Earner. It’s not trying to be a heavyweight exchange. There’s no chart jungle, no advanced order types, no turbo-trader vibe. Instead, it’s a finance app wrapped around a simple idea: pledge crypto as collateral, borrow AUD, and monitor your Loan-to-Value Ratio (LVR) with clear visibility.
I didn’t “abandon” Swyftx. I added Block Earner because it solves a different problem better. I still use Swyftx when I need a classic exchange experience. When I want a crypto-backed line of credit, I open Block Earner.
What Block Earner Is (and Isn’t)#
What it is:
- A clean, Aussie-focused app for buy/hold basics and, crucially, crypto-backed loans.
- A workflow that makes it straightforward to pledge BTC/ETH/stablecoins, draw AUD, and monitor LVR with in-app alerts.
What it isn’t:
- A pro-trader’s terminal. If you live in charts and order books, you’ll still want a real exchange alongside it.
Who it suits:
- Crypto-rich, cash-conscious users who want liquidity without giving up upside.
- Long-term holders who’d rather borrow against blue-chips than sell.
- Entrepreneurs/freelancers smoothing lumpy cash flow without touching their core stack.
Who it doesn’t suit:
- Chart-driven traders. If your primary job-to-be-done is trading, keep a full exchange and add Block Earner only if you also want borrowing.
My Hands-On Experience: From Onboarding to My First Loan#
Here’s exactly how my first run went.
1) Sign-Up & Verification#
Sign-up felt familiar—email, password, identity verification. No odd hurdles. The interface is clean and doesn’t bury you in jargon.
2) Funding#
I tested small first (always my rule with new rails). AUD funding worked as expected, and moving crypto in for collateral was simple. I prefer to start tiny, get comfortable with the flow, then scale.
3) Choosing Collateral & LVR#
The Loan-to-Value Ratio (LVR) is everything. Lower LVR = more safety buffer. Higher LVR = more risk of a margin call if price drops.
I started conservatively. The app makes LVR health obvious—think progress bars and nudges. I set my own “mental tripwires” too (alerts on my charting tools), but the in-app reminders are exactly what you want from an automated lender.
4) Approval & Drawdown#
Approval was fast and AUD hit my bank promptly. That was the first big “yes” moment: I’d kept my crypto, avoided a CGT event, and still had fiat ready to deploy.
5) Managing the Loan#
When volatility kicked in, my LVR ticked up. I got alerts, topped up collateral, and moved on with my day. I like having both levers—repay AUD or add collateral—because it lets me pick what’s optimal in that moment.
Overall feel: It did what it promised with minimal friction. I didn’t need hand-holding, but support was there when I asked a pre-loan question.
CTA break: Want to try a small test loan? Use my link danly.io/go/blockearner or code NP7UALEP when you sign up.
How Crypto-Backed Loans Work (Plain English)#
If you’ve never used one, here’s the simple version:
- Pledge collateral (e.g., BTC/ETH/USDT/USDC/XRP(soon)) to secure your loan.
- The platform calculates your LVR (loan size ÷ collateral value).
- You draw AUD.
- If your crypto’s price falls, your LVR rises. You’ll get margin alerts.
- You can repay or add collateral to bring the LVR down.
- If you don’t act and the market keeps sliding, part of your collateral may be liquidated to protect the loan.
Why I like it: I keep exposure, avoid selling, and still get cash when I need it. Why I respect the risk: Crypto can drop 20–30% quickly. If you’re running a thin safety buffer, it gets stressful fast.
Tip: Decide your max LVR and your emergency top-up plan before you draw the loan—then stick to it.
What to Check Before You Borrow (Fees, Rates, Limits)#
Here’s my personal checklist when comparing options:
- LVR Bands: Know the thresholds. I prefer starting low so I’m never scrambling at 2am.
- Rate Type: Fixed vs. variable; understand how the rate behaves if conditions change.
- Liquidation Rules: At what LVR do alerts trigger? How much time do you have to act? What are the fees if liquidation occurs?
- Custody: Where is collateral held and under what controls?
- Early Repayment: Can you clear early without a penalty?
- Min/Max Loan Size: Start with a small proof-of-concept before scaling.
- Operational Flow: How easy is it to top up collateral or repay on short notice?
Block Earner’s whole pitch is that this workflow is straightforward and transparent. In my testing, that proved true.
Block Earner vs Swyftx (Different Jobs, Different Winners)#
This is how I map it in my head:
| Your situation | Choose Block Earner | Choose Swyftx |
|---|---|---|
| You want a crypto-backed loan (borrow AUD, keep BTC/ETH/stablecoins) | ✅ It’s literally built for this | ❌ Not the focus |
| You want charts, order types, ongoing trading | 🚫 Minimal trading tools | ✅ Purpose-built for trading |
| You want a simple path to liquidity without selling | ✅ Yes | ⚠️ You’ll need another product |
| You want one app to do everything | ⚠️ Only if “everything” = simple buy/hold + borrowing | ✅ If “everything” = trading features |
My setup now:
- Swyftx = trading, charting, and the everyday exchange experience.
- Block Earner = borrowing against crypto when I need fiat flexibility.
CTA break: If you’re looking for that borrowing feature set, try it here: danly.io/go/blockearner (code NP7UALEP).
Product Snapshot: Personal Loans (and Bigger Ideas)#
- Crypto-Backed Personal Loans: This is the core. Pledge BTC/ETH/USDT/USDC, pick a comfortable LVR, draw AUD, and manage it all in the app.
- LVR & Alerts: The app experience revolves around keeping you informed and giving you levers (repay/add collateral) to stay safe.
- Expansion: The company has discussed broader use cases for crypto-secured lending. If you’re property-minded and heavily BTC-weighted, keep an eye on product announcements—just understand these are more complex loans with more moving parts.
If you’re new to this category, start small. Learn the rhythm of your LVR, practice topping up, then scale to an amount that fits your risk budget.
My Risk Playbook (So I Don’t Lose Sleep)#
This is how I personally run it:
- Conservative LVR: I start low; I’d rather draw a little less today than stress tomorrow.
- Top-Up Buffer: I keep a small stash ready to top up quickly when the market wobbles.
- Multiple Alerts: I set push/SMS/email plus independent alerts on my charting tools.
- Purpose-Bound Debt: I use borrowing for investments or cash-flow smoothing—not lifestyle inflation.
- Counterparty Diversification: I don’t put all my collateral in one venue.
- Review Terms Quarterly: If anything material changes (fees, thresholds, processes), I reevaluate and resize.
Personal Notes From My First Weeks#
- Speed matters. The turnaround from collateral pledge to AUD in my bank was fast enough to feel useful during real market moves.
- UI clarity reduces mistakes. I want to know exactly where my LVR stands without opening ten tabs—this delivered that.
- Support responsiveness counts. I didn’t have drama, but a pre-loan question was handled quickly and clearly.
- I still keep my exchange. Swyftx remains my “chart playground.” I didn’t try to force Block Earner into a role it wasn’t built for.
Scenarios Where This Shines#
- Buying the Dip Without Selling: Market drops 12% and you see an opportunity. Rather than selling core BTC to fund it (and possibly crystallising tax), you draw against collateral, deploy, and later repay.
- Business Cash-Flow Smoothing: Invoices paid late? Borrow against crypto, bridge the gap, repay when receivables land.
- Avoiding Forced Sales: Rather than selling into weakness, you keep exposure, ride out volatility, and clean up the line when conditions improve.
CTA break: If that’s the kind of flexibility you want, join via danly.io/go/blockearner or enter NP7UALEP at sign-up.
Advanced: A Worked Example (Numbers You Can Tweak)#
Let’s say I pledge 1 BTC at A$120,000/BTC and draw a A$36,000 loan.
- Starting LVR = 36,000 ÷ 120,000 = 30%.
- If BTC drops to A$90,000, collateral value becomes A$90,000 and LVR becomes 40%.
- If your personal alert level is 45%, you still have room—but you might top up with A$5k worth of BTC or repay A$5k in AUD to push LVR back down proactively.
- If BTC rebounds to A$135,000, LVR falls to 26.7%, which might be when you choose to draw more (if the product allows) or simply enjoy a wider safety buffer.
The key is to decide in advance:
- Your starting LVR
- Your alert LVR (top-up threshold)
- Your maximum LVR (emergency action point)
- Which lever you’ll pull at each level (repay AUD vs add collateral)
Due Diligence: Questions I Ask Any Lender#
- What assets can I pledge, and at what max LVRs?
- How fast can I draw and repay?
- How are margin calls delivered (app/SMS/email) and what’s the grace period?
- What exactly triggers liquidation and at what fee?
- Where is collateral held? Can it be rehypothecated?
- Are there early-repayment or exit fees?
- What’s the plan during extreme volatility or outages?
- What happens if there’s a chain event (fork, pause, upgrade) affecting my asset?
I asked versions of these questions before sizing up my first loan. It’s worth doing—every platform has quirks.
FAQs (Short, Honest Answers)#
Is Block Earner a “replacement” for my exchange? No. It’s complementary. Keep your exchange for trading; use Block Earner when you want to borrow against crypto.
Can I really avoid selling my crypto? Yes—the whole point is pledging collateral and borrowing AUD. If price falls and your LVR spikes, you’ll need to top up or repay to avoid liquidation.
What if I’m brand new to borrowing against crypto? Start tiny. Learn the motions: pledge, draw, repay, top up. Once you’re comfortable, scale to a number that won’t wreck your sleep if markets get jumpy.
What’s the catch? Market volatility and liquidation risk. If you push LVR too high and the market dumps, your collateral can be sold to protect the loan. Manage LVR like a hawk.
Will I miss charts and pro trading tools? If you’re an active trader—yes. That’s why I keep Swyftx alongside Block Earner.
A Quick Self-Audit Before You Apply#
- I know my starting LVR and my maximum emergency LVR
- I’ve set aside top-up collateral or cash
- I understand liquidation rules and potential fees
- I’ve confirmed early-repayment options
- I’ve modeled a 30–40% drawdown and know what I’ll do
- I’ve decided my purpose: investing opportunity, cash-flow smoothing, or something else
If you tick those boxes, you’re already more prepared than most borrowers.
Bottom Line: Will I Keep Using It?#
Yes—with guardrails.
I joined Block Earner because I wanted a line of credit against crypto to improve flexibility without selling. The UX, funding speed, and LVR visibility ticked my boxes. I’ll keep it in my stack for that exact reason.
I also keep using Swyftx for classic exchange activities. The two play different roles—and that’s the point. In 2025, there’s no rule that says one app must do everything. I’d rather use the right tool for the job.
Final CTA: If you want to try Block Earner, you can support my work by joining via danly.io/go/blockearner or using signup code NP7UALEP. Start small, learn the flow, and decide if it earns a long-term place in your setup.
Not Financial Advice#
This is a personal review of my experience using Block Earner and how it fits my strategy. Crypto markets are volatile, and borrowing against crypto carries liquidation and counterparty risk. Nothing here is financial, tax, or credit advice. Do your own research and speak with a licensed adviser or broker before making any investment or borrowing decisions.
Affiliate Disclosure#
Some links in this article are affiliate links. If you sign up using danly.io/go/blockearner or code NP7UALEP, I may earn a commission at no extra cost to you. I only recommend tools I actually use and that serve a clear purpose in my portfolio.
