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 around 15 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.

Swyftx vs CoinSpot vs Crypto.com Deposit Methods

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

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

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

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 430+ 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's NFT marketplace is excellent, and is not usually found on Australian crypto exchanges. Not only can you search for thousands of NFTs, you will find many popular collections, like Bored Ape Yacht Club. One of the best features of CoinSpot's NFT marketplace is the ability to buy your NFTs using any cryptocurrency you like. There is no need to go through the hassle of swapping one coin for another, wasting time and money, to make a simple NFT purchase.

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 5% 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.

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.

Verdict - CoinSpot

Swyftx, CoinSpot and Crypto.com are all excellent crypto exchanges, but CoinSpot rises to the top due to higher levels of security and trust, 430 coins, 24/7 Live Chat support, and an NFT marketplace. Closely behind CoinSpot, Swyftx and Crypto.com are tied for second place. Swyftx has a demo mode and lower spreads and fees, while Crypto.com has plenty of staking options and a Visa debit card that has heaps of benefits for users.

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.

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