Summary: Our researchers have conducted an extensive analysis of both SwyftX and Digital Surge to find out which platform is better for Australian investors. We have come to the conclusion that SwyftX is the overall best Cryptocurrency exchange in Australia.
There are several reasons why we have chosen SwyftX over Digital Surge such as overall higher security and more compliance, a wider selection of Cryptocurrencies, more responsive customer support, and it offers better features in general.
- Competitvely low fees at 0.6% per trade and tight price spreads.
- Over 320 different Cryptocurrencies on the SwyftX platform.
- Crypto Staking, Crypto Bundles (ETFs), SMSF support & more.
Key Features
SwyftX offers a wide range of features on its platform including both trading and staking services, a demo account where users can practice trading strategies without needing to risk their funds, investment opportunities in Bundles (Crypto ETFs), a mobile app and an extensive suite of Crypto courses and quizzes.
Digital Surge provides a similar suite of features including trading and staking services, a mobile app, and in-depth educational resources. Outside of that, it does not offer any additional features.
Winner: SwyftX has a more feature-rich platform with a variety of products and services.
Fees Schedule
SwyftX does not charge any fees to deposit or withdraw AUD from its platform. It does charge a 0.6% fee on all trades and a spread that varies between 1% - 1.5% depending on the asset you are buying/selling.
Digital Surge PayID deposits and withdrawals are free but POLi deposits are $3.99 per transaction. The trading fee is 0.5% with an additional spread of 1% - 2%.
Winner: Overall, SwyftX offers lower fees than Digital Surge as the spreads are tighter.
Available Cryptocurrencies
SwyftX currently supports over 320 Cryptocurrencies to buy and sell and it offers 19 staking options through its platform.
Digital Surge supports 310 Cryptocurrencies to buy and sell and offers 13 staking options.
Winner: SwyftX supports more tokens to buy, sell, and stake when compared with Digital Surge.
Regulation and Safety
SwyftX is considered one of the most secure trading platforms in Australia. It follows all of the relevant regulations under ASIC and AUSTRAC as the two overseeing bodies. It has also obtained the ISO27001 Standard Security Certificate which is only awarded to exchanges with outstanding security practices and measures.
Digital Surge is also registered and regulated by AUSTRAC and ASIC. The platform has never been hacked and offers a high level of security. All funds are held in both hot and cold wallets for a good blend of functionality and security.
Winner: SwyftX has been awarded the ISO27001 certificate, which verifies that it is a high-security exchange in Australia.
Mobile Applications
SwyftX offers a mobile app version of its platform for both Android and iOS users. The app is well-designed, easy to use, and offers the same functionality as its desktop trading platform.
Digital Surge also offers a mobile app that is available to download on iOS and Android devices. The app offers similar functionality to its web counterpart but does not allow access to its staking feature.
Winner: SwyftX's mobile app allows access to all the same features and services as its web platform, unlike Digital Surge which offers limited usability.
Customer Support Options
SwyftX provides 24/7 customer support to its customers via a variety of channels including its live chat feature, email, and various social media communities including Facebook, Twitter, Instagram, LinkedIn, Discord, Reddit, Telegram & TikTok.
Digital Surge does not provide 24/7 support and replies will typically take a few hours. The customer service team can be contacted via the chat feature available on the platform, email, or through various social media channels including Facebook, Twitter & LinkedIn.
Winner: SwyftX allows its users to contact its customer support team 24/7 through various methods, unlike Digital Surge which doesn't offer live support.
Final Thoughts
After thoroughly using and analysing each platform and comparing what features, fees, security, regulatory compliance, and mobile applications they offer, we have determined that SwyftX is the best option for Australian investors. SwyftX offers significantly more features such as a demo account, offers lower overall fees, and it's considered a high-security exchange, unlike Digital Surge.
If you're interested in learning more about SwyftX in detail, you can read our comprehensive review of the exchange. In our SwyftX Review, we take a deep dive into all its features, pricing, user experience, and much more.
Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.
