Swyftx vs Digital Surge

Swyftx vs Digital Surge

Robert McDougall

June 1, 2022

Cryptocurrency

Swyftx and Digital Surge are two of the best crypto exchanges for Australians. They both have excellent features, so we have done a head-to-head comparison of these two to show you how they differ. Swyftx is the winner for me, with more than 320+ cryptocurrencies, staking on 20 coins, a demo mode, and FREE $20 BTC with this link.

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Fiat Currencies

AUD

AUD

Number of Coins

320+

300+

Buy/Sell Fees

0.6%

0.5%

Daily Deposit Limit

$100k

$100k

Deposit Methods

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Direct Deposit

PayID

POLi

PayPal

Credit Card

Debit Card

BPAY

Cryptocurrency

Cash

Features

Cell
Cell

User-friendly

Mobile app

Demo mode

Live Chat

Security

Cell
Cell

2FA

Biometric security

AUSTRAC registered

ISO 27001 certified

Offline cold storage

Website

Cell

Fiat Currencies

AUD

AUD

Number of Coins

320+

300+

Buy/Sell Fees

0.6%

0.5%

Daily Deposit Limit

$100k

$100k

Deposit Methods

Cell
Cell

Direct Deposit

PayID

POLi

PayPal

Credit Card

Debit Card

BPAY

Crypto

Cash

Features

Cell
Cell

User-friendly

Mobile app

Demo mode

Live Chat

Security

Cell
Cell

2FA

Biometric security

AUSTRAC registered

ISO 27001 certified

Offline cold storage

Website

Pros
  • More than 320+ coins supported
  • Credit and debit card deposits supported
  • Earn crypto interest on 320 coins
  • $20 free BTC bonus
Cons
  • Slightly higher fee of 0.6% compared to Digital Surge 0.5%
Pros
  • Lower trading fees of 0.5%
  • Lower combined fees and spreads, according to our test
  • Offline cold storage of assets
Cons
  • No credit card & debit card deposits
  • No staking available

Swyftx vs Digital Surge Fees

I have summarised the various fees for Swyftx and Digital Surge below. It's important to remember that you also have to take into account the spread (some investors and traders forget), which is the difference between the buy and sell price of cryptocurrencies. To compare fees and spread, I conducted a test of Digital Surge, Swyftx and two other crypto exchanges (CoinSpot and Crypto.com) using my personal accounts. Digital Surge was the clear winner, with Swyftx coming a close second. Read more about my test here.

Deposit Fees

Swyftx charges ZERO fees on AUD deposits using any method.

Digital Surge charges ZERO Fees on AUD deposits using PayID. However, if you deposit using POLi there is a fee that ranges from $2 up to a maximum of $3.30.

Trading Fees

Swyftx charges 0.6% fees when buying or selling cryptocurrency.

Digital Surge charges 0.5% fees when buying or selling cryptocurrency.

Withdrawal Fees

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

Digital Surge charges ZERO fees for AUD withdrawals to Australian bank accounts.

Winner - Digital Surge

With lower trading fees of only 0.5%, and coming 1st in the test on spreads, Digital Surge is the winner.

Swyftx vs Digital Surge Deposit Methods

Swyftx and Digital Surge both offer a number of ways to deposit funds into your account. Both exchanges allow deposits to be made by PayID, POLi and cryptocurrency. 

Swyftx additionally supports credit and debit card deposits, whilst Digital Surge does not.

Swyftx does not charge any fees for any of its deposit methods, whereas Digital Surge charges a fee for POLi deposits, ranging from $2 - $3.30.

Winner - Swyftx

Swyftx offers credit & debit card deposits, and no fees on any deposit methods. Digital Surge is limited in its deposit options, and charges for using POLi. Swyftx is the winner for deposit methods.

Swyftx vs Digital Surge Features 

I won't go into detail about the entire range of features on the Swyftx and Digital Surge platforms. Instead, I will discuss the features that make them unique. If you want to read in-depth about all the features, have a look at the respective articles - Swyftx review and Digital Surge review.

Swyftx has a unique demo mode which is not available on any other Aussie crypto exchange. New users of Swyftx can get comfortable with the trading platform, explore the dashboard, and even simulate trading cryptocurrency using play money. It is an invaluable tool for newcomers to the crypto market who might be afraid of making a mistake and losing their hard-earned money. 

Swyftx's interface is very customisable. You can change the Dashboard so it only displays information you find necessary. You can even select the order of information displayed, so it suits your personal needs. 

Digital Surge is somewhat of a pioneer, allowing its users to pay for Australian bills or credit cards using Bitcoin in their online account. This is a feature not seen on most exchanges, and it leads the way to cryptocurrency becoming more of a mainstream financial asset. 

Both Swyftx and Digital Surge offer Live Chat customer support, which I personally think is a very valuable feature. Many Aussie crypto exchanges only offer support through email, and when you need assistance on the spot, it becomes an issue. They also both have simple and easy-to-use mobile apps.

Winner - Swyftx

Swyftx's demo mode is excellent for beginners to learn how to invest in crypto and this makes it the winner.

Swyftx vs Digital Surge Security

Both Swyftx and Digital Surge are extremely safe platforms, that are registered with AUSTRAC, meeting all their AML/KYC requirements to prevent money laundering and terrorism financing. Both exchanges use multiple layers of security and a range of measures to keep your digital assets safe.

In addition to this, Digital Surge stores the majority of their assets securely in offline cold storage, for an added layer of protection. In the unlikely event that the exchange is hacked, most of the assets will be safe as they are unaccessible. 

Winner - Digital Surge

Digital Surge has multi-layered security and stores the majority of its digital assets in offline cold storage, for increased protection.

Verdict - Digital Surge

Swyftx and Digital Surge are two of the best Aussie crypto exchanges (read my review here to compare the best exchanges) as well as topping the list in my crypto buying test. Choosing between Swyftx and Digital Surge is more of a personal choice, as they are both excellent exchanges, and it depends on what you want from your cryptocurrency platform. I personally choose Swyftx because it has the option to earn interest on 20 coins, plus $20 FREE Bitcoin as a signup offer, only through this link. If you prefer to use Digital Surge, you can also access $10 signup bonus for free with this link.

Overall Winner - Swyftx

Wide range of 320+ coins, staking on 20 coins, and FREE $20 BTC make Swyftx the overall winner in this head-to-head comparison.

Still Researching?

If you want to continue researching before making up your mind, you can read my detailed reviews on Swyftx and Digital Surge. If you are looking for other exchanges, you can take a look at my comprehensive comparison of the best Aussie crypto exchanges. For a quick snapshot, I have included a comparison table below.

Comparison Table of the Best Crypto Exchanges in Australia

Bybit
CoinSpot
Swyftx
Crypto.com
MEXC
Crypto Exchange
Crypto Exchange
Bybit
CoinSpot
Swyftx
Crypto.com
MEXC
Fiat Currencies
Fiat Currencies
AUD, USD, GBP, EUR, NZD & more
AUD
AUD, NZD
AUD, USD, CAD, CHF, EUR, GBP, NZD, SGD, JPY & 10+ more
USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, LTC, XRP, EOS & 220+ more
BTC, ETH, LTC, XRP, BCH, ADA & 360+ more
BTC, BTG, BCH, ADA, ETH, ETC & 320+ more
BTC, ETH, LTC, XRP, CRO, ADA & 250+ more
MEXC, BTC, ETH, EOS, BCH, LTC & 1,520+ more
Deposit Methods
Deposit Methods
Visa/Mastercard, Apple Pay, Google Pay, PayID, Cryptocurrency
Bank transfer, BPAY, Cash, POLi, PayID, Cryptocurrency
POLi, PayID, OSKO, Bank transfer, Credit card, Cryptocurrency
Bank Transfer, PayID, BPAY, Credit/Debit card, Cryptocurrency
Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, Cryptocurrency
Trading Fees
Trading Fees
0.1% for spot, 0.01%/0.06% for derivatives
Market order: 0.1%, Instant buy: 1%
0.6%
Included in spread
0.2%

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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