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CoinSpot vs SwyftX

CoinSpot vs SwyftX

Dylan Matthews
Fact Checked
September 25, 2022

Key Takeaways: CoinSpot is the superior platform compared to SwyftX because they offer a lower fee alternative at 0.1% per trade, compared to 0.6% on SwyftX. CoinSpot also offers a wider variety of cryptocurrencies, better rewards to stake digital assets and a native NFT Marketplace on their platform.

These are the reasons why they boast 2 million users compared to SwyftX who have 300,000 users across Australia and New Zealand.

Table of Contents

CoinSpot vs SwyftX Winner

Platform Highlights

  • Australia's Largest Exchange with over 2 million users.
  • Trade 370+ cryptocurrencies for 0.1% fees and stake to earn interest.
  • NFT Marketplace, NFT Wallet, SMSF support and other features.

Comparison Overview

CoinSpot vs SwyftX are the two most popular cryptocurrency exchanges to compare because they have the most users in Australia.

This guide is designed to help Aussie investors determine which platform is best for their needs. Whether you are new and looking to choose an exchange, or an existing user looking to switch over, our comprehensive comparison will have you covered.

CoinSpot vs SwyftX SwyftX vs CoinSpot
Trading Fees 0.1% Market Order | 1% Instant Buy 0.6% Instant Buy
Available Cryptos 370+ 320+
Crypto Staking Yes (25+ Coins) Yes (20+ Coins)
NFT Marketplace Yes No
Crypto Staking Yes No
Deposit Methods Bank Transfer, Debit Card, Credit Card, POLi, PayID, Cash & More Bank Transfer, Debit Card, Credit Card, POLi & PayPal
Overall Rating Image Image
Visit Website www.coinspot.com.au www.swyftx.com

CoinSpot User Interface

CoinSpot is Australia’s largest and most popular exchange for a reason. Their user interface across Web and Mobile is the gold standard, providing a seamless experience for new and veteran investors. Customers of CoinSpot can buy, sell, swap and stake over 370 different cryptocurrencies with ease all in one platform. CoinSpot is also the only platform in Australia to offer a native NFT Marketplace and NFT wallet for users.

Buy, sell and stake Crypto and NFTs with CoinSpot.

SwyftX User Interface

SwyftX offers a very similar user experience with its easy to use dashboard that was released recently in August of 2022. This new and improved look enables effective navigation of their various products which include instant trading, crypto staking and Crypto Bundles.

Buy, sell, stake and trade 320 assets on SwyftX.

CoinSpot vs SwyftX: Trading Fees

CoinSpot offers two main ways to trade cryptocurrencies on their platform. The first is their Market Order feature, which offers the lowest trading fees in Australia starting at 0.1%. The other is their Instant Buy feature, which charges 1% but provides an easy and convenient method to trade for new users.

SwyftX only offers one way to trade cryptocurrencies and that is their Instant Buy feature. For this service, they charge 0.6% per trade. It must be noted that their fees are slightly higher due to their wide spreads. This means the price difference between their Buy and Sell price for cryptocurrencies is very wide.

Winner: CoinSpot is the cheaper way to buy and sell cryptocurrencies with their Market Order feature.

CoinSpot vs SwyftX: AUD Deposit Methods

CoinSpot offers a myriad of deposit methods including Bank Transfer, PayID/Osko, Cash, BPAY and POLi.

SwyftX offers slightly more deposit methods than CoinSpot with all of the above plus PayPal, Credit Card and Debit Card.

Winner: SwyftX has more variety for Australian Dollar (AUD) deposit options.

CoinSpot vs SwyftX: NFT Marketplaces

CoinSpot has recently released an NFT Marketplace that allows their customers to buy, sell and trade the top NFT collections from OpenSea including Bored Ape Yacht Club, Cool Cats, VeeFriends and many others. Their NFT Marketplace allows users to buy or sell NFTs with any of the 370+ cryptocurrencies listed on their platform. This means that you can use Bitcoin, ETH, AVAX, stablecoins or anything else as collateral.

SwyftX does not yet offer a native NFT Marketplace and only provide a basic cryptocurrency exchange as at time of writing.

CoinSpot or SwyftX NFT Wallet

Winner: CoinSpot is the only local Australian exchange to offer a native NFT Marketplace, so they are the best platform in Australia for new NFT traders or users looking for a safe NFT wallet.

CoinSpot vs SwyftX: Staking

CoinSpot was the first ever Australian exchange to implement cryptocurrency staking on their platform. As at time of writing, they offer staking for 20 of the top proof-of-stake coins like Solana, Avalanche, Cardano and many others. They also allow you to get the best yields on cryptocurrencies when compared to other platforms.

SwyftX also offers cryptocurrency staking for 20 different proof of stake coins for Australians. The yields on SwyftX are however lower than CoinSpot because they take a small stealth fee when paying out rewards.

SwyftX vs CoinSpot Staking

Winner: CoinSpot is the better cryptocurrency staking platform because they offer better yields than SwyftX. For example, on CoinSpot you can earn 5.1% APY staking Cardano and on SwyftX you only earn 4.5% APY. This ultimately means that SwyftX takes a stealth fee when paying users out their yield. 

Final Verdict

CoinSpot is the superior cryptocurrency exchange when compared with SwyftX due to their lower trading fees, better user interface and higher staking yields for digital assets. Their platform also offers more cryptocurrencies and is generally faster to list metaverse, NFT and other popular assets.

For more in-depth information, read our CoinSpot Review or SwyftX Review.

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Dylan Matthews

I am the Founder & CEO of Buy Bitcoin Bank and was previously an engineer for a Prop trading firm in Crypto.

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