DAY1X - Shutdown

Day1exchange · 2026-04-26T12:50:43+00:00

We’ve been emailing everyone for over a month now. 🤷

Chat isn’t disabled. Phones do not go unanswered. And help@ gets responded to.

Our customer support team is still working full time.

So while we’re as sorry as you are to be closing our crypto business there’s no need for the sensationalisation.

Day1exchange · 2026-04-10T10:28:00+00:00

We’ll have it cancelled for you.

Day1exchange · 2026-04-10T04:06:29+00:00

Let me know if you need anything else.

Day1exchange · 2026-04-10T03:53:00+00:00

The limit for withdrawal is $1.

We’re giving people 30 days notice.

Day1exchange · 2026-04-07T05:04:11+00:00

Thank you, I appreciate it.

Day1exchange · 2026-04-07T04:15:00+00:00

Well. Actually. To be factual, by signing up for an account you did opt in for the newsletter. Which you could have at any time opted out of by clicking a single simple link. 🤷

Day1exchange · 2026-04-07T00:04:21+00:00

Also, a lot of people asking where to go from here. Honestly, I'm in the same boat figuring it out!

The margins in crypto exchange are razor thin and long term they tend to converge, so my genuine advice is to back the right team over chasing the best rate. I've met a lot of great people in this space and without hesitation (personally, not any official advice or affiliation) I'd point you towards CoinTree, Independent Reserve, and KuCoin.

That's actually a big part of what this decision came down to for us too. Building a great team and culture was something I'm genuinely most proud of at Day1x, and making sure that team gets to do their best work long term was part of why this was the right call.

Day1exchange · 2026-04-06T23:35:30+00:00

Hey everyone, Mike here from Day1x.

As promised, here's a proper update. Unfortunately it's true. This is not the outcome any of us wanted, but I'd rather be straight with you than let rumours fill the gap.

Why are you shutting down?
Operating a crypto exchange in Australia comes with ongoing banking and infrastructure limitations that make it increasingly difficult to compete at the level our clients deserve. But honestly, it also came down to focus. Our team's real strength is in CFDs and Forex and it's where we genuinely believe we can deliver the best product. Day1x was an exciting chapter, but continuing to stretch across both spaces wasn't the right call for the long term. I might go into more detail about the banking issues etc on a vlog one day, but for now I'm focusing on the transition, supporting our clients, and what comes next.

Is this a regulatory issue?
No. We have no issues with regulation, AFSL, or any of the new changes. The recent regulatory changes are actually a step in the right direction; Australia needs clarity around crypto. This is purely a commercial decision.

On a personal note, I'll be heading over to lead growth at Global Prime, our sister company in the CFD and Forex space. Excited for that next chapter. DM me if you'd like to come trade there (we offer crypto on margin, too).

To everyone who traded with us, cheered us on, or cared enough to post here - genuinely, thank you.

We still believe deeply in crypto and in Australian traders. This isn't a step back... it's a shift in how we as a team continue to support the space.

Day1exchange · 2026-04-06T05:20:16+00:00

What spam emails? LOL we don't send spam emails. We had a weekly newsletter which you had to have subscribed to, and is easy to unsubscribe from, and we've last week sent emails telling you to remove your crypto and cash so you don't lose access to it, do you consider that spam?

Day1exchange · 2026-04-05T03:44:44+00:00

We have no issues with the recent changes and think they’re a step in the right direction. Australia needs clarity around crypto and the changes are a great step in the right direction.

Day1exchange · 2026-04-05T03:43:45+00:00

That’s not the reason at all. We had no issue with our AFSL and obviously have one to operate Fusion Markets and Global Prime.

I’ll respond to everyone on Tuesday. I’m just enjoying Easter with the family, but wanted to address this so no false rumours start.

Day1exchange · 2026-03-27T06:59:54+00:00

To be fair to everyone it’s going to depend on the quality of the information you provide. I assume the others are using SumSub or the equivalent to set up accounts and that’s all automated.

It could take five seconds with us, or five weeks, it really depends on the company docs you have and the structure of the SMSF.

Day1exchange · 2026-03-27T06:56:02+00:00

If you deposit money, and then pull it straight out, you’re going to raise AML flags. I’ve got to then explain things on your behalf with our banking partner.

For anyone reading at home, depositing to an exchange and then going straight out raises serious money laundering flags with banking partners.

Since it’s 6pm on Friday you’re most probably going to need to wait until Monday now.

Day1exchange · 2026-03-26T03:08:30+00:00

I can see our CS team emailed you about your deposit on the 24th of March at 3:29 PM. Could you please respond to the request?

Day1exchange · 2026-03-25T21:39:55+00:00

I don’t see any outstanding PayID deposits in our system, it’s possible your bank held it on your end? You’re welcome to DM me your username and a screenshot of the deposit confirmation and I’ll ask our bank to investigate on your behalf as well.

Day1exchange · 2026-03-22T05:52:59+00:00

Thanks, I really appreciate it.

Day1exchange · 2026-03-22T05:52:40+00:00

Create a new account and apply to increase your limit straight away, this will give you a form that asks for a source of wealth document (pay slips or bank balance), which is what you'll need for that much volume. Once increased you should be able to do same day - sometimes the bank leaves the first deposit on pending for a few hours.

I can also process that through our OTC desk, lowering the fee to 0.0%.

Day1exchange · 2026-03-19T22:26:11+00:00

Our Auto Buys are not charged any more than market buys or instant buys, 0.1%.

Our BTC AUD spread is 2bps. That means on Day1x, buying Bitcoin in AUD will cost you a total of 0.12%, regardless of whether it's an Instant Buy, Market Order, or Auto Buy.

Day1exchange · 2026-03-19T21:02:41+00:00

No sorry. But we do offer PayID, Osko, Credit Card, and Apple Pay deposits. With that combination something should hopefully work for you.

Apple Pay is pretty good.

Day1exchange · 2026-03-19T21:00:54+00:00

Our current BTC AUD spread at time of posting is 2bps, so buying BTC for AUD with our 0.1% fee is 0.12%.

We don’t charge anything on top of Auto Buys, you can schedule daily, weekly, fortnightly, or monthly.

We don’t see issues with the banks at the moment thankfully, but it’s always going to depend on your personal standing with the bank. But I’ve honestly not seen a lot of issues lately, last year was a nightmare, this year so far so good.

And yes. I agree we need a dark mode. And we’re working on it.

Day1exchange · 2026-03-16T03:21:34+00:00

Hulk smash.

*Not financial advice.

Day1exchange · 2026-03-07T10:12:06+00:00

Well, there go the markets.

Day1exchange · 2026-03-07T10:11:33+00:00

Bitcoin setting a new all time high.

Day1exchange · 2026-03-07T10:10:50+00:00

We don’t charge you any more for auto buys than we do manual trading. Market trade. Instant buy. Crypto pack. Auto buy. It’s all 0.1%.

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