Swyftx vs CoinSpot vs Crypto.com

Swyftx vs CoinSpot vs Crypto.com

Daniel Chan

October 25, 2021

Cryptocurrency

Swyftx and CoinSpot are two of the best Australian crypto exchanges around, and Crypto.com is an excellent crypto exchange that offers so much more. How do these three platforms compare against each other for Aussie crypto investors? I compare Swyftx, CoinSpot and Crypto.com using various criteria to come up with my final recommendation. Swyftx wins overall, as it has lower spreads, staking, a demo mode, Live Chat support and $20 free Bitcoin just for signing up. In second place, CoinSpot and Crypto.com are tied. There are certain aspects of CoinSpot that are better, eg: it has almost twice the number of cryptocurrencies; on the other hand Crypto.com has staking, lending, borrowing, NFT marketplace and a Visa debit card that gives you up to 8% cashback on every purchase. Ultimately it comes down to your personal needs in a cryptocurrency exchange, so keep reading to find out which is best for you.

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Fiat Currencies

AUD

AUD

AUD, USD, CAD, CHF, EUR, GBP, NZD, SGD, JPY & 10+ more

Number of Coins

270+

290+

150+

Buy/Sell Fees

0.6%

1%

Varies

Daily Deposit Limit

$100k

$100k

$100k

Deposit Methods

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Direct Deposit

PayID

POLi

PayPal

Credit Card

Debit Card

BPAY

Cryptocurrency

Cash

Features

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User-friendly

Mobile app

Demo mode

Live Chat

Security

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2FA

Biometric security

AUSTRAC registered

ISO 27001 certified

Offline cold storage

Website

Swipe across the table to view Crypto.com's information in the far right column.

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Fiat Currencies

AUD

AUD

AUD, USD, CAD, CHF, EUR, GBP, NZD, SGD, JPY & 10+ more

Number of Coins

270+

290+

150+

Buy/Sell Fees

0.6%

1%

Varies

Daily Deposit Limit

$100k

$100k

$100k

Deposit Methods

Cell
Cell
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Direct Deposit

PayID

POLi

PayPal

Credit Card

Debit Card

BPAY

Crypto

Cash

Features

Cell
Cell
Cell

User-friendly

Mobile app

Demo mode

Live Chat

Security

Cell
Cell
Cell

2FA

Biometric security

AUSTRAC registered

ISO 27001 certified

Offline cold storage

Website

Pros
  • Live Chat support
  • Lower spreads
  • Fee-free deposit methods including debit/credit cards
  • Demo mode available
  • $20 free BTC bonus
Cons
  • AUD & NZD are the only fiat currencies supported
Pros
  • Most trusted and secure exchange in Australia
  • ISO 27001 certified
  • Huge range of over 290+ cryptocurrencies
  • Low trading fees of only 0.1% on the market
Cons
  • Instant buy/sell fees of 1% are higher than Swyftx (0.6%)
  • No staking available
  • No demo mode
Pros
  • Cryptocurrency staking supported so you can earn interest on over 40+ coins
  • Additional features such as crypto lending, borrowing and NFT marketplace
  • 21 fiat currencies accepted (AUD, USD, EUR, GBP, JPY, CAD, CHF & more)
  • Visa debit card to receive cashback on every purchase
Cons
  • 3.5% fee for paying with debit/credit card (free for first 30 days)
  • The desktop site does not allow trading against AUD
  • No demo mode

Swyftx vs CoinSpot vs Crypto.com Fees

I have summarised all the different fees for Swyftx, CoinSpot and Crypto.com here, so it's easier to compare which platform is the best.

Deposit Fees

Swyftx charges zero fees on all AUD deposits.

CoinSpot 

  • POLi, PayID, and Direct Deposit (via OSKO): free
  • BPAY: 0.9% fee
  • Cash deposits: 2.5% fee

Crypto.com

  • PayID/BPAY: free
  • Credit and debit card: 3.50% (free for first 30 days)

Trading Fees

Swyftx charges 0.6% fees when buying or selling cryptocurrency.

CoinSpot charges 1.0% fees when buying or selling cryptocurrency instantly from the exchange. You can also trade on the market, where the fees are an extremely low 0.1%. Note that only 14 popular cryptocurrencies can be traded on the market, such as BTC, ETH, ADA, XRP, DOGE, LTC. 

Crypto.com charges a low fee of only 0.4% fee per transaction when you trade crypto on the desktop site (also known as Crypto.com Exchange). However, you can only trade against USDT, USDC, BTC or BTC on the desktop site.

On Crypto.com app, it is free to buy crypto with the fiat currency in your wallet, or to trade crypto to crypto. The fee will be incorporated in the spread instead of an explicit fee. If you want to purchase crypto by paying with your credit/debit card, there is a 3.50% fee, which is waived for the first 30 days.

Withdrawal Fees

Swyftx charges ZERO fees for AUD withdrawals to Australian bank accounts.

CoinSpot charges ZERO fees for AUD withdrawals to Australian bank accounts.

Crypto.com charges ZERO fees for AUD withdrawals to Australian bank accounts.

Winner - Swyftx

Swyftx has the best fee structure, with fee-free deposits & withdrawals, and only 0.6% for trading crypto. On CoinSpot market, you can access 0.1% fees for 14 coins, but for all other coins, you incur a 1% fee. On Crypto.com desktop exchange, the fees are only 0.4% but you cannot trade against AUD. On Crypto.com app there are no fees involved, but the spread is much higher, so Swyftx still has the lowest fees overall.

Swyftx vs CoinSpot vs Crypto.com Deposit Methods

Swyftx supports direct deposit, PayID, POLi, credit card, debit card and cryptocurrency deposits.

CoinSpot supports direct deposit, PayID, POLi, BPAY, cash and cryptocurrency deposits.

Crypto.com supports PayID, BPAY, credit card, debit card and cryptocurrency deposits.

Winner - Swyftx

Not only does Swyftx have plenty of deposit options, but they are all free of charge too. Most Aussie users will find that Swyftx's payment methods are suitable for them. If you need to use BPAY, you can use CoinSpot (0.9% fee) or Crypto.com (free of charge).

Swyftx vs CoinSpot vs Crypto.com Features 

Each of these three crypto exchanges have a ton of features that make them a great choice, but I won't go into full detail in this article. Instead, I will make note of some features that make each exchange stand out from the others, and if you are interested in learning more about any of the exchanges, you can find my full reviews here: Swyftx review, CoinSpot review and Crypto.com review.

Swyftx has a unique demo mode that is not found on any other Aussie crypto exchange. Swyftx gives users free play money so they can practise trading without risking any of their real money. It is an invaluable tool, especially for beginners to crypto, that for some reason has not yet been copied by other platforms. It is easy to access the demo mode from your Swyftx account, using a simple toggle switch.

Swyftx has an intuitive and easy-to-use interface, fresh design, and a customisable Dashboard. You can personalise it to show only the info you find useful, and in any order you wish.

CoinSpot is extremely popular in Australia because of it offers over 290+ altcoins including many that you can't find on smaller exchanges. For those that are keen to invest in smaller coins before they are available on every crypto exchange, CoinSpot is a fantastic choice for you. 

CoinSpot has a convenient feature called CoinSpot Bundles which is useful for those that want to diversify their cryptocurrency portfolio. With Bundles, you can purchase a range of crypto in one transaction, spreading your risk, lowering fees, and affixing an average cost to several coins. One of the most popular Bundles, and my personal favourite is the 'Top Ten Market Cap' which is the top ten biggest cryptocurrencies based on market capitalisation. This is an excellent Bundle since it includes most coins that many investors want to buy anyway, such as BTC, ETH, BNB, ADA and spreads out risk to reduce volatility. Here is a list of the Bundles currently available on CoinSpot.

Crypto.com offers staking on over 40 coins, which is a way of earning more crypto by locking it in for a set period, similar to how you earn interest in a bank. You can earn up to 14.5% APR on staked coins - this is a great idea for anyone looking to hold their crypto long-term. You might as well receive rewards for your crypto while you wait for them to increase in value.

Crypto.com gives its app users a free metal Visa debit card which comes with many benefits. The more of their coin (CRO) that you stake, the higher level of Visa card you can receive. At the highest tier of Visa card, users can enjoy 8% cashback on all purchases (paid in CRO), 100% rebates on subscriptions (Netflix, Spotify) and 10% rebate on bookings (Expedia, Airbnb). It also comes with complimentary Airport Lounge access for yourself and one guest, and 2% extra interest on fixed-term deposits. You can load your Visa debit card with fiat currency, so you are spending AUD and not your crypto.

Crypto.com has its own token (CRO) that you can use for many additional benefits. CRO can be purchased on Crypto.com as well as some other crypto exchanges, such as CoinSpot. When you stake CRO on the desktop exchange, you receive 10% APR interest paid daily, CRO rebate when you pay trading fees with CRO, and cashback when you use Crypto.com Pay. If you stake CRO on the mobile app, you receive up to 12% APR, a premium metal Visa card, and better APR in Crypto Credit and Crypto Earn.

Winner - Crypto.com

Crypto.com has the most features out of these three exchanges. It is the best choice for those that are planning on holding crypto long-term. With staking options on over 40+ coins, plus benefits on staking CRO coin, it is an excellent way to earn passive income while investing in crypto.

Swyftx vs CoinSpot vs Crypto.com Security

All three platforms are safe, legitimate and trustworthy, and they utilise multi-layered security measures to ensure users' assets are protected. In saying that, CoinSpot and Crypto.com stand out above Swyftx when it comes to security. 

CoinSpot is the only Aussie crypto exchange with the ISO 27001 certification for information security, undergoing an external audit by SCI Qual International (an accredited JAS-ANZ certification body). It also stores the majority of its crypto assets in cold storage.

Crypto.com has received ISO/IEC 27701:2019 certification after rigorous third-party privacy audits, making it the first cryptocurrency exchange to hold this coveted privacy certification. Crypto.com stores 100% of user cryptocurrency in cold storage, using Ledger Vault's institutional-grade custody, and it even has insurance cover for its crypto assets so you can rest assured your funds are secure.

Winner - Crypto.com

Crypto.com holds ISO/IEC 27701:2019 certification, stores 100% of users' crypto in cold storage, and has insurance cover to top it all off.

Verdict - Swyftx

Swyftx, CoinSpot and Crypto.com are all excellent crypto exchanges, but Swyftx rises to the top due to lower fees and spreads, staking, a useful demo mode to practise trading, Live Chat support and $20 free Bitcoin as a bonus. Closely behind Swyftx, CoinSpot and Crypto.com are tied for second place. CoinSpot has many more coins and Live Chat support, while Crypto.com has plenty of staking options and a Visa debit card that has heaps of benefits for users.

Overall Winner - Swyftx

Lower fees, lower spreads, demo mode, Live Chat support and FREE $20 BTC mean Swyftx wins this comparison.

Still Researching?

If you're still trying to decide which crypto exchange is most suitable for you, you can take a look at these in-depth reviews of Swyftx (here), CoinSpot (here) or Crypto.com (here). Alternatively, if you are looking for other options, check out my in-depth breakdown of the best crypto exchanges that many Australians find helpful. A quick comparison table is included below to help you see the key info at a glance.

Comparison Table of the Best Crypto Exchanges in Australia

Swyftx
CoinSpot
Digital Surge
eToro
Binance
Crypto Exchange
Crypto Exchange
Swyftx
CoinSpot
Digital Surge
eToro
Binance
Fiat Currencies
Fiat Currencies
AUD
AUD
AUD
AUD, USD, GBP, EUR & 11 more
AUD, USD, GBP, EUR, CAD, HKD, JPY & 35 more
Cryptocurrencies
Cryptocurrencies
BTC, BTG, BCH, ADA, ETH, ETC & 270+ more
BTC, ETH, LTC, XRP, BCH, ADA & 300+ more
BTC, ETH, BNB, ADA, XRP & 270+ more
BTC, ETH, BCH, XRP, LTC, ADA & 24 more
BTC, ETH, LTC, BNB, ADA, XRP & 300+ more
Deposit Methods
Deposit Methods
POLi, PayID, OSKO, Bank transfer, Credit card, Cryptocurrency
Bank transfer, BPAY, Cash, POLi, PayID, Cryptocurrency
PayID, POLi, OSKO, Cryptocurrency
Bank Transfer, Credit card, Debit card, PayPal, POLi
PayID, OSKO, Cryptocurrency
Trading Fees
Trading Fees
0.6%
Market order: 0.1%, Instant buy: 1%
Market order: starts from 0.5%, Instant buy: 0.5%
Included in spreads
0.1%

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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