Swyftx vs Digital Surge

Swyftx vs Digital Surge

Daniel Chan

August 19, 2021

Cryptocurrency

Swyftx and Digital Surge are two of the best crypto exchanges for Australians. They both have excellent features, so I have done a head-to-head comparison of these two to show you how they differ. Swyftx is the winner for me, with free deposits, credit & debit card deposits supported, a demo mode, and $10 free Bitcoin when you sign up.

Cell

Fiat Currencies

AUD

AUD

Number of Coins

270+

250+

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

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

270+

250+

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
  • Deposit for free
  • Credit and debit card deposits supported
  • Demo mode available
  • $10 free BTC bonus
Cons
  • Slightly higher fee of 0.6% compared to Digital Surge 0.5%
Pros
  • Lower trading fees of 0.5%
  • Easy-to-use interface
  • Offline cold storage of assets
Cons
  • No credit card & debit card deposits
  • No demo mode

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 Swyftx, Digital Surge and two other Aussie crypto exchanges (CoinSpot and Independent Reserve) using my personal accounts. Digital Surge was the 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 slightly lower trading fees of only 0.5%, and coming 1st in the Bitcoin buying test, 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.

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 - Swyftx

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 test of buying Bitcoin. 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 over Digital Surge because it has the unique demo mode that means you can try out your investing and trading skills with play money before doing it for real. In addition to that, you can receive $10 BTC for free using this link  

Overall Winner - Swyftx

Demo mode plus free $10 BTC for new users 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

Swyftx
Independent Reserve
Digital Surge
CoinSpot
Binance
Crypto Exchange
Crypto Exchange
Swyftx
Independent Reserve
Digital Surge
CoinSpot
Binance
Fiat Currencies
Fiat Currencies
AUD
AUD, USD, NZD, SGD
AUD
AUD
AUD, USD, GBP, EUR, CAD, HKD, JPY & 35 more
Cryptocurrencies
Cryptocurrencies
BTC, BTG, BCH, ADA, ETH, ETC & 270+ more
BTC, ETH, XRP, BCH, ADA, DOT, USDT & 15+ more
BTC, ETH, BNB, ADA, XRP & 250+ more
BTC, ETH, LTC, XRP, BCH, ADA & 280+ more
BTC, ETH, LTC, BNB, ADA, XRP & 300+ more
Deposit Methods
Deposit Methods
POLi, PayID, OSKO, Bank transfer, Credit card
PayID, OSKO, SWIFT, EFT, Cryptocurrency
PayID, POLi, OSKO, Cryptocurrency
Bank transfer, BPAY, Cash, POLi, PayID, Cryptocurrency
PayID, OSKO, Cryptocurrency
Trading Fees
Trading Fees
0.6%
Starts from 0.5%
Market order: starts from 0.5%, Instant buy: 0.5%
Market order: 0.1%, Instant buy: 1%
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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