CoinSpot vs Swyftx Overview

CoinSpot is considered one of the best crypto exchanges in Australia and is trusted by 3 million users, offering over 530 digital assets. It offers a wide range of features, including instant trading, crypto bundles, OTC services, a crypto card, SMSF support, and an integrated NFT marketplace. 

Swyftx, founded in 2018, has grown to over 1.1 million users across Australia and New Zealand and supports more than 440 cryptocurrencies. It provides tools such as auto-invest, crypto bundles, demo mode, TradingView charts, and entity accounts for companies and SMSFs. 

Below is a comparison table of CoinSpot and Swyftx, taking a close look at their fees, assets, security, and features.

CoinSpot vs Swyftx Products

When comparing Australia’s two most popular crypto platforms, CoinSpot and Swyftx, it’s clear that both provide far more than simple buy and sell functions. Here’s a closer look at their offerings:

CoinSpot Features

CoinSpot focuses on simplicity, security, and variety, making it a strong choice for both newcomers and experienced investors. Key offerings include:

1. Several Trading Options: CoinSpot offers a straightforward experience for buying, selling, and swapping over 530 cryptocurrencies, with intuitive market and instant-order options.
2. NFT Marketplace: Users can trade 23 different NFT collections, including Bored Apes and Azukis, directly via OpenSea integration.
3. Over-the-Counter (OTC) Trading: Large trades over $100,000 can be executed instantly with competitive rates through CoinSpot’s OTC desk.
4. Crypto Card: A crypto-linked debit card lets users instantly convert crypto to fiat for everyday purchases and is accepted at any merchant supporting Mastercard.
5. Multiple Deposit Options: Australian users can deposit via PayID, direct transfers, credit card, debit card, PayPal, and cash (through BlueShyft) with varied fee structures.
6. CoinSpot Bundles: Buy curated collections of cryptocurrencies in one go for easy diversification.
7. SMSF Services: Tailored solutions for self-managed super funds to add digital assets to retirement portfolios.

Swyftx Features

Swyftx has built its reputation on low fees, intuitive design, and innovative trading tools. Highlights include:

1. Asset Support: Trade more than 440 cryptocurrencies instantly with competitive fees.
2. Demo Mode: Practice with a demo account offering $100,000 AUD in virtual funds to test strategies risk-free.
3. Entity Accounts: Supports SMSFs, companies, and trust accounts for individuals and businesses seeking structured crypto exposure.
4. Auto-Invest & DCA: Set up recurring buys to spread investments over time and manage volatility.
5. Bundles: Invest in themed bundles, allowing diversification across sectors like AI, DeFi, or NFTs in a single trade.
6. TradingView Integration: Advanced charting tools with indicators and analysis features for technical traders.
7. Fast Deposits: Instant AUD and NZD deposits via PayID, cards and bank deposits make it a popular choice across Australia and New Zealand.

CoinSpot vs Swyftx Security

CoinSpot is registered with AUSTRAC and certified under ISO/IEC 27001. It secures customer funds with majority offline storage, 2FA, withdrawal restrictions, session timeouts, geo-locking, and biometric logins. It also runs a public bug bounty program through HackerOne and partners with the Digital Economy Council of Australia to reinforce transparency.

Swyftx is also AUSTRAC-registered and ISO/IEC 27001 certified. It uses a mix of hot and cold storage, 2FA, biometric login, encryption, and continuous penetration testing. The platform operates a 24/7 Security Operations Centre and implements breached-password detection.

Beyond technical safeguards, CoinSpot maintains a 4.3/5 rating on Trustpilot, reflecting strong user satisfaction. Swyftx also holds a slightly higher rating of 4.6/5, praised for its customer support and user-friendly interface.

CoinSpot vs Swyftx Fees

Both crypto exchanges are excellent options for Australian users. The best pick hinges on your trading habits, volume, and preferences. Here are the key differences in their fee structures:

CoinSpot Fees

CoinSpot is the lowest fee exchange in Australia as it uses a tiered structure depending on the type of trade. Here’s a quick summary:

• Instant Buy/Sell/Swap Orders: 1% per transaction.
• Market Orders: 0.1% per trade.
• Bundles & Recurring Buys: 1% fee (same as instant orders).
• AUD Deposits: Free via PayID, POLi, and direct bank transfer, cash deposits are 2.5%, debit/credit cards are 1.22% and PayPal is 0.5%.
• Withdrawals: Free for AUD bank withdrawals and 2% for PayPal.
• Spreads: Typically range from 0.4% – 2%, depending on liquidity and asset traded.

Swyftx Fees

Swyftx keeps its structure straightforward with a flat 0.6% trading fee applied to both buy and sell orders. Below is a quick overview:

• Trading (buy/sell/swap): Flat 0.6% fee with reductions to 0.1% for VIP 6 members (users trading over $6 million AUD a month).
• Spreads: Typically 0.99% – 5.13% depending on liquidity.
• AUD Deposits: Free via bank transfer, PayID, POLi, and OSKO. Stripe deposits cost 1.895% and Banxa is 5.5%.
• AUD Withdrawals: Free to Australian bank accounts.
• Auto-invest, Bundles, Recurring Buys: Charged at the standard 0.6% rate.

For cost-conscious investors, the best value depends on whether they are comfortable using market orders (CoinSpot) or prefer a flat structure (Swyftx). For experienced traders moving $50,000 per month, CoinSpot’s 0.1% fee saves $250 compared to Swyftx’s 0.6%.

Does CoinSpot or Swyftx Support Staking?

Neither CoinSpot nor Swyftx currently offers staking services to their users. The reason is tied directly to Australia’s regulatory environment. The Australian Securities and Investments Commission (ASIC) has taken a strict stance on crypto yield and staking products, viewing them as financial products that may require licensing under the Corporations Act. 

As a result, if you want to earn passive rewards on crypto holdings in Australia, you would need to use self-custodial wallets that support staking or consider offshore platforms, while understanding the added risks and regulatory implications.

Is CoinSpot better than Swyftx?

CoinSpot is generally considered the stronger choice for Australian investors due to its larger selection of over 530 cryptocurrencies, compared to Swyftx’s 440+, and its added features such as an integrated NFT marketplace, crypto Mastercard, and SMSF support. 

It also offers market trading at just 0.1% per transaction, making it more affordable for experienced traders, while maintaining a user-friendly instant buy option for beginners. With more than 3 million users, a broader feature set, and stronger compliance credentials, CoinSpot provides a more comprehensive platform than Swyftx.

Final Thoughts

For Australians deciding between CoinSpot and Swyftx, the choice comes down to priorities: CoinSpot delivers broader asset support, lower market-trading fees, and extra features like an NFT marketplace and crypto card, while Swyftx appeals with flat fees and user-friendly tools.

If you value broader assets and low fees, CoinSpot edges ahead. If you prefer simplicity and flat pricing, Swyftx may suit you better.