Swyftx alternatives

Compare the best alternatives to Swyftx for Australian crypto traders.

Andrew Boyd avatar
Written by   |  
David Boyd avatar
Verified by
Updated 26 Nov 2024   |   Rates updated regularly

Comparing of 8 Swyftx alternatives

Independent Reserve

On website

Highlights

  • Trading fees at Swyftx are higher compared to those of Independent Reserve. Moreover, Independent Reserve charges less for making more trades.
  • Independent Reserve is behind Swyftx in terms of customer reviews, and its Trustpilot ratings are lower than Swyftx.
  • Swyftx and Independent Reserve both provide high security and are considered secure exchanges in Australia.

Pros

  • Automate your cryptocurrency trading strategy with Independent Reserve's AutoTrader feature.
  • Its built-in tax calculator makes it easier to file your tax return.
  • ISO certified and has an AUSTRAC license.

Cons

  • It has a limited number of supported coins compared to other exchanges.
eToro

On website

eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Highlights

  • Swyftx has a reputation for having low transaction and trading costs. The eToro trading fees vary based on the coin being traded. In most situations, though, eToro is more expensive than Swyftx.
  • Swyftx has more coins listed on its platform than eToro, making it the better choice for those looking for diversity.
  • Swyftx is well-known as one of Australia's most trustworthy exchanges, although eToro is also secure and highly trusted.
CoinSpot

On website

Highlights

  • Swyftx’s trading charges are higher than CoinSpot. CoinSpot, however, charges a hefty convenience fee on all trades as compared to Swyftx. So overall, Swyftx is cheaper.
  • Swyftx and Coinspot are both AUSTRAC-regulated companies that adhere to the Australian financial system’s rigorous rules. CoinSpot, on the other hand, has ISO security accreditation, which ensures bank-level security.
  • Swyftx provides excellent customer service and has a very high Trustpilot rating. CoinSpot is not far behind, although its Trustpilot scores are somewhat lower when compared to Swyftx.

Pros

  • Trade for only 0.1% and withdraw in AUD for free.
  • Multiple deposit options.
  • Access CoinSpot NFT Marketplace.
  • CoinSpot is regulated by AUSTRAC and is ISO certified

Cons

  • Margin trading is not available.
Binance Australia

On website

Highlights

  • Swyftx's total trading costs are greater than Binance's, but Swyftx provides superior overall security.
  • Binance is a wonderful platform for expert traders, but it is not user friendly for newbies. Swyftx, on the other hand, is appropriate for all traders and boasts a user-friendly interface.
  • Both platforms are AUSTRAC-registered and regulated, which means they must follow Know Your Customer and Anti-Money Laundering standards.

Pros

  • It has some of the lowest trading fees out there. 0.1% for spot trading and 0.5% for instant buy or sell fees.
  • Credit card or debit card deposits are accepted.
  • Provides charting and trading tools suitable for advanced crypto traders.

Cons

  • The platform UI can be complicated to learn for new investors.
Coinbase

On website

Finty may be compensated when you click on the link.

Highlights

  • Trading fees at Swyftx and Coinbase are almost at par. However, Swyftx is slightly more expensive.
  • Both Coinbase and Swyftx provide live customer assistance. Trustpilot evaluations of Coinbase, on the other hand, are quite poor, and Swyftx leads by a significant margin.
  • Coinbase customers can earn cryptocurrency by learning about the platform's blockchain initiatives.

Pros

  • Get access to a wide variety of altcoins.
  • Start trading with as little as $2.
  • Advanced trading includes Market, Limit, Stop Limit, and Auction Mode orders.

Cons

  • Fees are higher compared to other exchanges.
Kraken

On website

Highlights

  • Trading fees on Kraken are cheaper than with Swyftx. Kraken's charges vary depending on the value of the transaction.
  • Swyftx offers a huge choice of cryptocurrencies for trading compared to Kraken.
  • Kraken provides a robust trading platform that is designed for intermediate and experienced traders. Swyftx, on the other hand, is suitable for even the most inexperienced users.

Pros

  • Large selection of tokens to trade.
  • Earn rewards by staking eligible assets.
  • Access to a range of educational materials.

Cons

  • Limited options to fund your account.
CoinJar

On website

Highlights

  • CoinJar employs cutting-edge security to safeguard customer funds. For example, 90 percent of user assets in CoinJar wallets are held in offline cold wallets for optimum security. Swyftx, on the other hand, does not provide this service, although it still provides excellent overall security.
  • Swfytx's trading fees are fixed, whereas CoinJar's trading fees are variable and higher for small-value transactions.
  • Swyftx's total number of tradable cryptocurrencies is significantly higher than what you’ll get at CoinJar.

Pros

  • Extremely user-friendly interface.
  • You can use a credit card or debit card to buy crypto.
  • Has a competitive fee structure.
  • Earn rewards with CoinJar Earn.

Cons

  • Limited crypto tokens to trade compared to other platforms.
Cointree

On website

Highlights

  • When compared to Swyftx, Cointree has higher trading costs. High-value transactions, on the other hand, are slightly cheaper on Cointree.
  • Swyftx and Cointree are excellent for beginners since they have a clean interface and trading choices.
  • Swyftx and Cointree are both Australian companies that are registered with AUSTRAC, providing additional security.

Pros

  • Cointree has competitive fees for quick buys and sells.
  • You can view and copy the portfolios of recently successful traders.
  • Fast and easy trading with the Cointree app.
  • Get customer support 24/7.

Cons

  • Account verification may take up to 48 hours.

    As seen on

    Media - The Sydney Morning Herald
    Media - Yahoo Finance
    Media - News.com.au
    Media - Daily Mail Australia
    Media - Australian Fintech
    Media - Dynamic Business