SwyftX vs CoinSpot
Exchange comparison
Quick-Take: CoinSpot is the better platform compared to SwyftX because they offer lower base fees, more token variety and higher yields to stake cryptocurrencies.
SwyftX vs CoinSpot
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Table of Contents
Fees: Which is more expensive?
Technically this should go to CoinSpot as they offer 0.1% on market orders but their instant buy incurs a 1% fee. Most investors use the instant buy function over the market buy function therefore this category goes to SwyftX.
They offer the lowest instant buy fees at just 0.6%. Both SwyftX and CoinSpot have free deposit and withdrawal methods available for their Australian investors.
Winner: CoinSpot and SwyftX are tied when it comes to fees. SwyftX offers lower Instant Buy fees and CoinSpot offers lower Market Buy fees. It will just depend on which platform has your preferred feature!
Is SwyftX or CoinSpot safer?
Both cryptocurrency exchanges are regulated under AUSTRAC and fulfil all of the relevant financial reporting to combat money laundering.
However, only CoinSpot has acquired an ISO 27001 certification which makes it an extremely high security exchange. It is the most secure platform for your crypto assets in Australia. SwyftX is yet to obtain their certification.
Winner: CoinSpot is the winner due to it being the only Australian cryptocurrency exchange to acquire the ISO 27001 certification.
Supported Cryptocurrencies
For this category, it is a very close call with SwyftX falling behind by only 40 tokens. Both CoinSpot and SwyftX are considered to have a large selection of cryptocurrencies, most centralised exchanges have around 100 - 200.
Winner: CoinSpot takes the win again, offering their investors 353 cryptocurrencies to choose from.
SwyftX vs CoinSpot AUD Deposit Methods
SwyftX comes in as a close second offering its users only 1 option less than CoinSpot. It currently supports Debit/Credit Cards, Bank Transfer/Osko, POLi & PayID.
CoinSpot offers its investors deposits through various deposit methods which include Australian Bank Transfers/Osko, PayID, Cash Deposit, BPAY, POLi and more.
Winner: CoinSpot, again takes the win! It has a large variety of deposit methods for its Australian investors.
NFT Wallets
CoinSpot is the only cryptocurrency exchange in Australia that offers a native NFT Marketplace and NFT Wallets. Their marketplace allows you to buy and sell popular NFT collections from OpenSea like Bored Ape Yacht Club, Cool Cats and many others.
SwyftX does not offer any NFT support on their platform.
Final Verdict
CoinSpot is the clear winner when comparing both platforms on a feature to feature basis. They offer more coins to trade, more coins to stake, an NFT Marketplace and NFT Wallet. These features are what makes the CoinSpot platform the largest and most trusted in Australia with over 2 million users.
To learn more and read reviews on these exchanges, please click CoinSpot or SwyftX.
Frequently Asked Questions
Is SwyftX more expensive than CoinSpot?
CoinSpot is cheaper to buy and sell major cryptocurrencies like Bitcoin and Ethereum at 0.1%. SwyftX offers a cheaper instant buy experience at 0.6% compared to CoinSpot's 1%. This feature is only relevant for investors buying long-tail and small-cap altcoins.
Is CoinSpot better than SwyftX?
CoinSpot is better than SwyftX because they offer a wider variety of features. Their platform has more cryptocurrencies to trade, stake and even offer NFT wallets compared to SwyftX who do not.
Does CoinSpot or SwyftX have better staking?
Based on our research - CoinSpot offers a better staking experience because they have more cryptos to stake, and provide higher yields.
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