Swyftx vs. CoinSpot: Which Is A Better Crypto Trading Platform For Australian Traders?
The Australian cryptocurrency market is growing rapidly, as is the number of exchanges with which investors can open an account. However, choosing an exchange is not as simple as identifying the platform that sells the cryptocurrency you are looking to buy. Fees, the number of digital tokens available, the level of security and the features offered by the exchanges are all important considerations.
In this article, we will conduct a detailed comparison of two of the leading Australian cryptocurrency exchanges, Coinspot and Swyftx, exploring and comparing key aspects such as supported cryptocurrencies, fee structures, security measures, platform features, deposit options, as well as customer support. By the end, you will have the insights needed to make a well-informed decision tailored to your trading preferences and investment goals.
Table of Contents
- Swyftx Exchange Overview
- CoinSpot Exchange Overview
- Swyftx vs. CoinSpot: Supported cryptocurrencies
- Swyftx vs. CoinSpot: Fees
- Swyftx vs. CoinSpot: Deposit Methods
- Swyftx vs. CoinSpot: Security
- Swyftx vs. CoinSpot: Features
- Swyftx vs. CoinSpot: Customer Service
- Final Verdict: Which One is Better in 2026?
- Why Trust BTCC?
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Swyftx Exchange Overview
Swyftx is considered to be a fairly new player in the crypto space, with the exchange launching in Australia in 2019. With a mission of “Empower people today, to unlock their financial freedom tomorrow”, Swyftx is a popular Australia-based exchange that offers users a streamlined experience.
Swyftx allows for advanced trading, including giving users the functionality to place automatic crypto trades. The platform also allows for real-time portfolio tracking, tax reporting and SMSF asset allocation. For those who want to trade cryptocurrencies in Australia, Swyftx certainly is a top choice due to its features like low trading fee and risk-free demo mode.
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CoinSpot Exchange Overview
Established in 2013, CoinSpot is one of Australia’s largest and most well-established cryptocurrency exchanges. It offers the widest selection of digital assets in the country, supporting over 460 cryptocurrencies. Although geared more towards beginners than advanced traders, CoinSpot has earned a strong reputation for its robust security measures, user-friendly interface and support for NFT trading.
With its simple interface and long history of security, CoinSpot is a popular choice for beginners looking to explore the crypto markets. CoinSpot was named Highly Commended in the Best Overall category at the 2024 Finder Crypto Trading Platform Awards.
The Pros & Cons of CoinSpot are summarized as below:
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Swyftx vs. CoinSpot: Supported cryptocurrencies
| Cryptocurrencies | CoinSpot: 530+ | Swyftx: 420+ |
When it comes to supported cryptocurrencies, CoinSpot comes out on top, giving its users access to over 50 more coins than Swyftx.
That said, most investors will find the assets they are considering on either platform. Neither exchange has any obvious omissions, although CoinSpot also offers NFT collections.
Verdict: For most investors, both platforms cover the majority of popular assets they are likely to trade. Neither exchange has any significant omissions when it comes to mainstream cryptocurrencies. However, CoinSpot stands out with its broader coin selection and the additional option to trade NFT collections, offering a slightly more diverse range of digital assets compared to Swyftx.
Swyftx vs. CoinSpot: Fees
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CoinSpot’s fees are fairly competitive: 0.1% for limit orders on select cryptocurrencies and 1% for instant buys and limit orders. There are also no deposit or withdrawal fees for AUD.
Swyftx has a flat trading fee of 0.6%, which is lower than CoinSpot’s fee for instant purchases but higher than its fee for limit orders. Like CoinSpot, Swyftx lets you deposit and withdraw AUD without incurring fees.
However, neither platform boasts the competitive trading fees of global exchanges such as Binance or KuCoin. Ultimately, which platform is more cost-effective for you depends on whether you plan to use instant purchases or limit orders to buy crypto. If it’s the former, Swyftx might be the better option; if it’s the latter, then Coinspot might be the better option.
Verdict: Overall, it’s a balanced competition. Swyftx offers an advantage for instant trades with its lower flat fee, while CoinSpot provides better value for limit orders through its 0.1% market order fee—though only for a limited number of coins.
Swyftx vs. CoinSpot: Deposit Methods
Before you can purchase cryptocurrency, you will need something with which to buy it. The most common way to buy cryptocurrency for the first time is with Australian dollars (AUD), so it’s important that the exchange you choose supports a number of methods for quickly, easily and cheaply depositing funds into your account.
Swyftx supports several deposit methods, including bank transfer, PayID, Osko and credit or debit card. While most of these methods are instant, customers have reported that it can sometimes take up to 24 hours for the funds to arrive in their account. You can also deposit cryptocurrency by sending it to your Swyftx wallet address from another digital or hardware wallet.
CoinSpot offers its users a number of deposit options, including bank transfer and BPAY. They even support cash deposits; however, these incur a hefty 2.5% fee.
CoinSpot sets itself apart by offering PayPal deposits, which can be convenient for some investors. However, as with most alternative AUD deposit methods, the fees can be rather expensive (0.5% for deposits and 2% for withdrawals).
Verdict: Both Swyftx and CoinSpot offer multiple convenient options for funding accounts, many of which are fee-free. However, CoinSpot gains a slight advantage thanks to its support for PayPal, which may appeal to users seeking more flexibility in deposit options.
Swyftx vs. CoinSpot: Security
It should be noted that both CoinSpot and Swyftx are highly secure platforms that have implemented a variety of measures to protect their customers’ digital assets. Both exchanges are registered with AUSTRAC.
Swyftx employs two-factor authentication, biometric logins, KYC verification, breached password detection, and penetration testing, all of which are carried out by an experienced, rigorous security team. The company has also been awarded ISO 27001 certification in recognition of its excellence in information security management.
Meanwhile, CoinSpot was awarded the ISO 27001 certificate—an internationally recognized accreditation—in acknowledgement of its management of information security. CoinSpot secures its accounts using two-factor authentication, anti-phishing phrases, and offline cold storage.
Verdict: Both CoinSpot and Swyftx demonstrate exceptional dedication to protecting their users’ assets and personal data. Their shared achievement of ISO 27001 certification reflects their ongoing commitment to maintaining the highest standards of security.
Swyftx vs. CoinSpot: Features
Both exchanges offer a wide range of features that appeal to Australian crypto investors, many of which go beyond basic trading activities.
CoinSpot has launched its own CoinSpot Mastercard, enabling users to spend their cryptocurrency on everyday purchases — an attractive feature for those looking to integrate digital assets into their daily lives. CoinSpot also offers a built-in NFT marketplace where users can explore, buy and sell a wide range of non-fungible tokens. This user-friendly platform makes it easier for Australians to engage with the rapidly growing digital art space.
Swyftx, on the other hand, offers Crypto Demo Mode, which allows users to simulate trading with $10,000 of virtual funds. This feature provides a risk-free environment in which to practise strategies and explore the platform’s interface—ideal for beginners. Another notable feature is Swyftx’s Learn & Earn initiative, which rewards users for completing lessons on blockchain and cryptocurrency fundamentals.
Both platforms deliver a feature-rich experience, setting a high standard among Australian exchanges. CoinSpot stands out with its extensive range of coins and integrated NFT marketplace, while Swyftx excels in user onboarding thanks to its demo mode and educational tools.
Verdict: The best platform for you depends on your individual investment goals. CoinSpot may be better suited to users looking for broad asset access and NFT functionality, while Swyftx may appeal more to newer traders seeking a guided learning experience.
Swyftx vs. CoinSpot: Customer Service
Swyftx is renowned for its customer support, offering live chat 24/7 through support staff based in Australia, New Zealand, the UK and mainland Europe.
CoinSpot is also renowned for its excellent customer service and live chat support, which is available 24/7. The company treats its customers with great respect.
Verdict: Both CoinSpot and Swyftx are recognized for delivering exceptional customer support. Their round-the-clock live chat services and commitment to customer satisfaction have earned them strong reputations among Australian crypto users.
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Final Verdict: Which One is Better in 2026?
Following a thorough comparison of Swyftx and CoinSpot, it is clear that both platforms offer compelling offerings for Australian cryptocurrency traders. Swyftx stands out thanks to its competitive fee structure, which results in lower overall trading costs. It also has superior educational resources, making it particularly appealing to cost-conscious or beginner traders. CoinSpot, on the other hand, offers a slightly wider range of tradable cryptocurrencies and has the unique feature of an integrated NFT marketplace, setting it apart from other Australian exchanges.
Both platforms excel in terms of security and customer service, earning strong reputations for protecting user assets and providing responsive support.
Ultimately, there is no single “best” exchange — the ideal choice depends on your individual trading goals, experience level and preferences. Many investors may even find it valuable to use features from both platforms to suit different aspects of their crypto journey.
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Please be aware that all investments involve risk, including the potential loss of part or all of your invested capital. Past performance is not indicative of future results. You should ensure that you fully understand the risks involved and consider seeking independent professional advice suited to your individual circumstances before making any decision.
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