8 Best Swyftx Alternatives

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One of the leading cryptocurrency exchanges in Australia, Swyftx is a great option to buy, trade, and sell digital assets. In a short period, Swyftx has gone on to become one of the best places to trade crypto in Australia. But is it a suitable platform for everyone? There are now several reputable alternatives to Swyftx that rival its top features.

Here is our short list of the best alternatives to Swyftx based on features, products, markets, and trading fees:

1. Binance (best alternate with staking)
2. ByBit (better option for margin trading)
3. CoinSpot (best for a secure wallet)
4. Crypto.com (best Swyftx alternative for mobile app)
5. Independent Reserve (Swyftx alternative for SMSF investors)
6. eToro (best alternate exchange for copy-trading)
7. CoinJar (good alternative for ease of use)
8. Coinbase Australia (reputable and safe alternative)

Swyftx Alternatives Compared

EXCHANGE	CRYPTO ASSETS	TRADING FEES	RATING	PROMOTION	WEBSITE	REVIEW
Binance	385	0.1% (spot) and 0.02% / 0.04% (Futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	Up to $100 welcome bonus	Visit Binance	Binance Review
ByBit	331 (608 trading pairs)	0% (spot), 0.06% / 0.01% (futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	0% trading fees for 30 days (spot only)	Visit ByBit	ByBit Review
CoinSpot	380	1% (instant), 0.1% (spot)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.7 / 5	$20 Bitcoin for creating a verified account and depositing	Visit CoinSpot	CoinSpot Review
Crypto.com	288	0.075%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.2 / 5	None available at this time	Visit Crypto.com	Crypto.com Revie…
eToro Australia	70+	1%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.3 / 5	None available at this time	Visit eToro Aust… Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.	eToro Australia…
Coinjar	BTC, ETH, USDT and 50+ more	1% to instant buy/sell, 0.1% on CoinJar Exchange	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.0 / 5	None available at this time	Visit Coinjar	Coinjar Review
Independent Reserve	BTC, ETH, XRP, USDT, ADA and 25 more	0.5% maximum, 0.02% minimum	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.2 / 5	None available at this time	Visit Independen…	Independent Rese…
Coinbase Australia	250+	0.5% + 3.99%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 3.7 / 5	None available at this time	Visit Coinbase A…	Coinbase Austral…

Best Alternatives To Swyftx Reviewed

1. Binance Australia

Binance is one of the best destinations for serious crypto traders to buy Bitcoin or altcoins in Australia. Geared traders, Binance features a state-of-the-art user interface and over 395 cryptocurrencies to buy, trade and sell. The main difference between Binance and Swyftx is the user experience. While there is the option to buy crypto with AUD using PayID on Binance, the site navigation and interface are different to Swyftx.

A major pro for Australian cryptocurrency traders is the lower trading fees on Binance Australia. While Swyftx uses a flat fee of 0.6% per transaction, the fees on Binance use a maker-and-taker model that starts at 0.1% for buy and sell trades. Therefore, traders will save 0.5% in fees per trade on Binance compared to Swyftx. Moreover, traders do not lose out on spread costs or slippage as Swyftx obtains its liquidity from Binance. In short, Binance is a cheaper alternative to Swyftx when it comes to trading cryptocurrency.

In addition, Binance is a superior exchange for advanced trading with access to a variety of markets that are not offered on Swyftx. For example, Binance users can trade on a Peer-to-Peer exchange, Futures and leveraged tokens on the global website which provides greater flexibility to manage and trade a crypto portfolio. Moreover, Binance allows for greater staking options, lending and borrowing to take out crypto-backed loans or earn interest on deposits. Overall, Binance offers a wider selection of features and products and is a better alternative to Swyftx for investors and traders.

Read our full Binance review and Swyftx vs Binance comparison.

2. Bybit

Bybit is a viable alternative for crypto traders who have purchased digital currencies and looking to grow their portfolio by trading on the spot market or speculating with leverage. With more than 10 million registered users, Bybit is a serious trading platform with an innovative trading experience that has multiple products for leverage trading. As Swyftx does not offer margin or futures contracts, Bybit is naturally a great alternative to choose and is the 2nd largest derivatives exchange in the world by trading volume and liquidity.

Australians who are looking to trade derivatives can choose between:

• Futures contracts. Perpetual futures contracts with up to 100x leverage available. Over 100 trading pairs are available.
• Leveraged tokens. Both LONG and SHORT positions on over 30 tokens with 3x leverage.
• Inverse contracts. Perpetual and futures contracts use the coin itself as collateral. Only a handful of available coins are supported, including BTC and ETH. Futures contracts are settled on a quarterly basis.
• Options contracts. USDC-settled options contracts are available on a daily, weekly, monthly, and quarterly basis.

Other notable features on Bybit that are not offered on Swyftx include a P2P platform, Earn program, ICO/IDO launchpad, liquidity mining, and crypto trading bots. When it comes to the trading interface, ByBit is world-class with a sophisticated trading engine and front-end. Packed with advanced tools and featured, experienced traders will not be disappointed.

As for the fees, Bybit is a cheaper option than Swyftx when it comes to buying and selling on the spot market. The fees on Bybit start at 0.1% and can be reduced with higher trading volumes. In short, Bybit offers a wider selection of products within its platform and has cheaper trading fees. The only con is that it does not have AUD deposit and withdrawal capacities.

Read our full ByBit review.

3. Coinspot

CoinSpot is regarded as one of the best exchanges in Australia and another alternative that Swyftx users can consider. Established in 2013, CoinSpot is an AUSTRAC-licensed and Blockchain Australia member that provides a safe and secure platform to buy, trade, and sell over 380 coins using its Instant Buy/Sell or Exchange. The key feature of CoinSpot is the streamlined platform to quickly and safely make it ideal for everyone. There is also a CoinSpot code to claim a referral bonus of $20 Bitcoin.

Like Swyftx, there is an abundance of listed cryptocurrencies on the CoinSpot platform that can be directly purchased in Australian Dollars which will appeal to various investors. A point of difference to Swyftx is the ability to purchase crypto using cash vouchers. CoinSpot gives users the flexibility to obtain crypto with Flexpin vouchers at news agencies in Australia.

The only con with CoinSpot is users will likely pay higher fees than Swyftx which has a flat 0.6% fee. The trading fee using the instant buy and sell feature is 1% which includes take profit, stop loss order and recurring buys which is expensive in the crypto market. There is the option to trade crypto on CoinSpot's exchange for a cheaper 0.1% fee, however, it lacks trading volume, and liquidity and is difficult to use.

In short, for investors in Australia who are looking for a trusted and reputable alternative, CoinSpot comes to mind however expect to pay higher fees compared to Swyftx.

Read our full CoinSpot review and Swyftx vs CoinSpot comparison.

4. Crypto.com

Crypto.com is next on our list of Swyftx alternatives. A popular cryptocurrency app that offers several cryptocurrency products and services and has expanded globally to allow Australians to quickly and easily purchase crypto using AUD. The benefit of Crypto.com compared to Swyftx is the ease of use. Individuals can buy and sell crypto at true cost using a user-friendly, modern and intuitive app on Android and iOS devices.

There are over 250 coins which is less than the offering on Swyftx, however, includes all the major cryptocurrencies. In addition, the Crypto.com ecosystem has an abundance of broader features such as a Crypto.com VISA card with cashback rewards, staking, and earning products. For advanced crypto traders, Crypto.com Exchange provides a good alternative to Swyftx. Inclusive of Tradingview charting and reasonable liquidity, the platform is tailor-made for swing and day trading.

To deposit funds, Crypto.com supports PayID and BPAY which do not have any costs. However, to buy crypto with a credit or debit card will incur a fee of between 1.49% and 3.99% which is higher than Swyftx. As for the trading fees, using Crypto.com Exchange will incur a 0.4% transaction fee compared to 0.6% on Swyftx making it the cheaper of the two.

Read our full Crypto.com review and Swyftx vs Crypto.com comparison.

5. eToro Australia

eToro is a powerful financial platform that offers crypto and stocks for serious traders and investors. Etoro was established in 2007 and has grown into a popular online trading platform that is highly visual, intuitive and user-friendly. The user interface on eToro is very simple to use, modern, and elegant, which is useful for investors who are not familiar with trading.

eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

eToro has gained popularity for its ease of use and social community. Its best feature is the ability to follow other traders and use the copy-trade system.

For individuals who are looking to grow an AUD-based trading portfolio but want to take advantage of the volatile crypto market, trading with eToro is a great option. Moreover, eToro offers a different dimension for Swyftx users can maximize investment gains by following the top traders on the platform.

Learn more about eToro Australia in our eToro review.

eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Crypto assets are unregulated and highly speculative. There is no consumer protection. You risk losing all of your capital. Refer to our Terms and Conditions. See full disclaimer.

6. CoinJar

CoinJar is a long-standing crypto exchange in Australia that was established in 2013 and has expanded to the United Kingdom, and more recently, the United States. The exchange has 600,000+ registered accounts and is a registered financial services provider with ASIC and AUSTRAC. CoinJar has recently rebranded to focus on ease of use as a top priority. This has resulted in a relative lack of features compared to some other exchanges like Swyftx but makes it a breeze to navigate for Australians looking to build a crypto portfolio.

CoinJar has multiple ways to deposit AUD to fund an account such as bank transfer and PayID. PayID and credit/debit card purchases. CoinJar also accepts Blueshyft payments and is one of only a few Australian exchanges to offer this service (not available on Swyftx). Blueshyft is a third-party provider that allows residents to buy crypto with physical cash at a local newsagent but comes with a 1.5% surcharge.

While CoinJar has a fairly limited selection of coins compared to Swyftx (50 vs 310), the former boasts a streamlined experience that will take users little time to grow accustomed to. Beginners can easily determine where to deposit AUD, buy new cryptocurrencies, and view their assets. Where CoinJar falls a little is in the account management department. Viewing and altering account settings (such as 2FA, password changing, and transaction history) isn’t quite as streamlined as it could be.

As for the trading fees, CoinJar is a little more expensive than Swyftx by 0.4% per trade which should be considered before switching from Swyftx. However, CoinJar Exchange has fees as low as 0.1% which is a lot cheaper but lacks liquidity to make it worthwhile for high-net-worth crypto investors.

Read our full CoinJar review and Swyftx vs CoinJar comparison.

7. Independent Reserve

Independent Reserve is a trusted and reputable crypto exchange that has over 200,000 customers Australia-wide. It is one of the best exchanges for SMSF investors with its premium OTC desk, detailed reports and taxation tool and customer support. In addition, SMSF crypto investors can use dollar-cost averaging instead of making a lump sum investment.

Independent Reserve trading fee starts at 0.5% and can be reduced to as low as 0.02%. While there is a minor AUD deposit cost for transactions under $1,000, the trading fees on Independent Reserve are cheaper than Swyftx. The downside is the clunky user interface which does not have the modern, sophisticated and easy-to-use platform and mobile app compared to Swyftx.

Read our full Independent Reserve review.

8. Coinbase Australia

Coinbase needs no introduction as it's one of the biggest crypto exchanges in the world with a large customer base globally and within Australia. The platform is AUSTRAC-regulated within Australia and presents as a viable alternative to Swyftx for newcomers. It is well-regarded as one of the most user-friendly exchanges and also the most secure.

While Swyftx does provide an intuitive and streamlined user experience, Coinbase has no complicated features, products, or distractions. The process to create an account, complete the ID verification process, deposit funds, and perform a transaction can be completed within minutes and with little prior knowledge. Australians can fund an account with AUD using a debit card to get started, although the fees are 3.99%.

Another area where Coinbase falls short is that users will not be able to cash out of Coinbase to a bank account in Australia. They will need to transfer the crypto to another provider that has AUD withdrawal functionality. Besides this, Coinbase is a reputable exchange that is listed on the US stock market and is unlikely to go insolvent like other exchanges such as FTX and Digital Surge.

Read our full Coinbase review and Swyftx vs Coinbase comparison.