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Swyftx vs. Crypto.com
Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for education purposes only. Hedge With Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries.
TABLE OF CONTENTS
Quick Verdict
Swyftx and Crypto.com are respectable and popular exchanges that are available in Australia. Of the two, Crypto.com is a global platform with 50 million customers across its app and exchange products. The app is one of the best in Australia which makes buying crypto with AUD a breeze. On the other hand, Swyftx is an up-and-coming platform with more than 660,000 users and is highly rated on TrustPilot with a rating of 4.5/5 based on thousands of reviews.
Based on our comparison, Swyftx wins this comparison and is the better cryptocurrency exchange available to Australians. It has greater flexibility when it comes to AUD deposit methods and over 100 more cryptos to buy or sell. While the Earn and staking products are more comprehensive on Crypto.com, there are fewer features specifically for Australians such as 24/7 local customer service, SMSF support, and ATO tax reporting tools. Moreover, there is a $20 Bitcoin bonus using a Swyftx referral link.
Swyftx vs. Crypto.com Compared
| Swyftx | Crypto.com | |
|---|---|---|
| Website |
https://www.hedgewithcrypto.com/go/swyftx/ |
https://www.hedgewithcrypto.com/go/cryptocom |
| Promotion | $20 Bitcoin for creating a verified account | None available at this time |
| Fiat Currency | AUD, USD | AUD, CAD, EUR, GBP, USD, BRL, and TRY |
| Supported Cryptocurrency | 422 | 288 |
| Max. Trading Fee | 0.6% | 0.075% |
| Overall Rating | HedgewithCrypto Score 4.9 / 5 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.   Visit Swyftx |
HedgewithCrypto Score 4.2 / 5 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.  Visit Crypto.com |
| Review | Read our full Swyftx Review | Read our full Crypto.com Review |
Swyftx At A Glance
Swyftx is a locally operated cryptocurrency exchange that is based in Brisbane, Australia. Since its establishment in 2019, the AUSTRAC registered platform has gained immense popularity amongst Australian investors and traders due to its user-friendly interface, trading fees, and a suite of products and services that cater to the Australian crypto market. Swyftx has been designed to provide everyday Australians with an easy gateway to the world of cryptocurrency. The platform provides rapid sign-up, a variety of deposit methods to fund accounts with Australian Dollars (AUD), and a streamlined Bitcoin-buying process.
Over 320 digital currencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA) can be purchased on the desktop or mobile app that can be used on iOS and Android devices. Other features that highlight Swyftx's understanding of what Aussie crypto enthusiasts want include a local customer support team, fantastic portfolio tracking and management tools, crypto bundles, and SMSF support.
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Trading Fees:
0.6%
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Currency:
AUD, USD
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Country:
Australia, New Zealand
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Promotion:
$20 Bitcoin for creating a verified account
Crypto.com At A Glance
Crypto.com is a popular cryptocurrency exchange that provides its products and services through a world-class mobile app. The digital currency provider allows customers to buy, trade, sell, store, earn, loan, and pay bills using cryptocurrencies using its products on mobile devices. Whilst the Crypto.com app is one of the best crypto trading apps for mobile devices on the market, it does provide users with a separate ‘exchange' where digital assets can be traded, staked, and deposited to take out a crypto-backed loan. One of the key advantages of Crypto.com is that over 250 digital assets can be purchased at their true cost.
At the time of writing, Crypto.com trades over $680 million worth of transactions on a daily basis and has a massive customer base of over 50 million investors and traders around the world. There are over 360 trading pairs with USDT, USDC, BTC, and CRO as the base currencies, and users can take advantage of the exchange's significant liquidity.
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Trading Fees:
0.075%
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Currency:
AUD, CAD, EUR, GBP, USD, BRL, and TRY
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Country:
Global (USA Allowed)
-
Promotion:
None available at this time
Swyftx vs Crypto.com: Supported Countries
Swyftx is a crypto exchange that is locally operated in Brisbane, Australia and has amassed a customer base of over 660,000 users. Crypto.com is a global cryptocurrency trading mobile app and exchange that operates in over 90 countries including Australia. The exchange has wide-spanning commercial exposure and a customer base of over 50 million investors, traders, and crypto enthusiasts.
Winner: Draw.
Both Swyftx and Crypto.com are reliable crypto exchanges that provide their products and services to Australians. While Crypto.com is a global exchange that is offered in multiple countries worldwide, Swyftx is a local exchange that has its benefits such as direct customer support.
Swyftx vs. Crypto.com: Trading Volume & Liquidity
In terms of trading volume and liquidity, Crypto.com is a popular exchange for buying crypto with fiat currencies, processing over $640 million in spot trading daily. According to CoinMarketCap, the exchange has an above-average liquidity score of 612 out of 1,000, putting it on par with other global exchanges such as KuCoin and Bitfinex. Whilst Swyftx has one of the best trading volumes in the local Australian market, its liquidity is far lower compared to Crypto.com. While Swyftx has a spread as low as 0.45%, this is for the major assets like Bitcoin and Ethereum, whereas Crypto.com has low spreads on a wider selection of altcoins.
Winner: Crypto.com.
With its massive audience and access to global markets, it comes as no surprise that Crypto.com has superior trading volume and liquidity. This correlates to superior spreads and reduced slippage across a wide selection of altcoins.
Swyftx vs. Crypto.com: Features, Products & Services
Swyftx and Crypto.com cater to a wide range of crypto users through their array of products and services. Here is a comparison and overview of some of the common and unique features of both platforms.
Supported Currencies
Swyftx supports a larger range of cryptocurrencies with over 320 than can be bought using AUD. For a locally based crypto exchange, this number of altcoins on offer is one of the best selections in the Australian market. The selection includes all the major digital assets as well as meme coins Dogecoin (DOGE) and Shiba Inu (SHIB). Conversely, Crypto.com offers a smaller selection of coins with just over 250 cryptocurrencies for purchase on the mobile app. Crypto traders have access to over 360 trading pairs with USDT, USDC, BTC, and CRO as the base currencies.
Winner: Swyftx.
Overall, Swyftx provides Australians with slightly more choices when it comes to purchasing Bitcoin and altcoins. Whilst Crypto.com Exchange provides more trading pairs against BTC, USDT, USDC, and CRO, the majority of beginner and intermediate users are more likely to purchase assets via a simple process and not an advanced exchange.
Mobile App
The Crypto.com App is a world-class mobile app that provides a portal to all of the platform's products and services, with exception of the Exchange. The App is well-designed for crypto investors and traders and enables the purchase of over 250 digital assets at their true cost. Features such as its interest-earning wallets, the Crypto.com Visa Card, NFTs, and Crypto.com Pay are easily accessible. We found the Crypto.com App enjoyable to use. It has been well-designed with its crisp and responsive nature.
The Swyftx app is compatible with iOS and Android mobile devices. Whilst it isn't as polished as the Crypto.com App, we found it to be highly functional and perform just as well. All of the platform's portfolio management tools are easily accessible including wallet financing, crypto purchasing, viewing real-time charting, the free demo mode, and avenues to the local customer service team. Biometric fingerprint login can be set up to add another layer of account security.
Winner: Swyftx.
Whilst the Crypto.com App provides users with a sophisticated and clean trading experience, the fees to purchase crypto are excessive. The App is best suited to those who are likely to use features such as the Crypto.com Visa Card and Crypto.com Pay. The Swyftx mobile app will appeal to the mainstream Australian audience. Although the app is not as visually pleasing as the Crypto.com App, it is perfectly serviceable as a crypto buying and portfolio management tool.
Features Unique to Swyftx
Some of the products and services that are unique to Swyftx include the following:
- A free-to-use demo mode stocked with $100,000 virtual AUD funds to explore the platform and practice trading. No real AUD needs to be deposited and it also simulates real-world liquidity and market depth.
- In-built cryptocurrency taxation reporting tools to ensure that Australians are aware of their crypto tax obligations for each financial year.
- A customizable dashboard where users can manually toggle and show what information they want to see on their crypto portfolio.
- The option to buy bundles of crypto to quickly diversify portfolios whilst incurring fewer trading fees.
- Robust SMSF support where investors will benefit from Swyftx’s partnership with super fund specialists New Brighton Capital. The crypto SMSF service is centered on a strong understanding of Australian law and regulations.
Features Unique to Crypto.com
Some of the products and services that are unique to Crypto.com include the following:
- Crypto.com offers an NFT marketplace that allows users to buy and sell NFTs that can be purchased using credit/debit cards or via the Crypto.com App Pay feature. The exchange offers fee-free purchases of NFT’s, but does charge a 2% – 2.9% seller’s fee in addition to royalty fees paid by sellers.
- The Crypto.com Visa Card can be funded with fiat or crypto and used for purchases at in-store or online merchants that accept Visa.
- Crypto.com also has a staking platform for users to earn staking rewards over 30 digital assets including high-market capitalization coins such as Polkadot, Polygon, Solana, and Chainlink. One advantage is that users don't need to specifically transfer assets into a staking wallet. Instead, interest rewards are calculated daily on the assets that are simply held in the wallet.
Winner: Swyftx.
The quality of the features that Swyftx and Crypto.com share are relatively comparable to each other. However, the products and services such as ATO tax reporting tools and support for SMSF are more useful to local investors.
Swyftx vs. Crypto.com: Ease of Use
The Swyftx user experience is second to none with its extremely well-designed dashboard that can be customized to suit the needs of the user. Depending on the needs of the user, widgets can be changed to provide their desired tools for managing their cryptocurrency portfolio.
It is also from the dashboard where the free demo mode and dark mode can be toggled on or off. Navigational buttons to the buy, sell, swap, and trade features are easily visible. Funding an account to buy crypto with AUD can be done in several ways including PayID, OSKO, POLi, standard bank transfer from an Australian account, and credit card. These options provide convenience to the user and it is an advantage over Crypto.com where bank transfers are the only method.
Although the Swyftx mobile app is entirely functional and easy-to-use, users who prefer to do most of their portfolio building and trading on a mobile device will appreciate how refined the Crypto.com App is. The app design has been tailored for usability making it simple for users to scan through and find a feature or product in seconds. The downside to Crypto.com is that the Exchange can only be used on the desktop version.
Winner: Swyftx.
Whilst the Crypto.com App is superior to the Swyftx mobile app, Swyftx provides an all-inclusive trading experience on both desktop and mobile devices. The interface and all of its supporting features to get beginners and intermediates started (e.g. account financing, buying crypto, portfolio management) are seamlessly designed and allow for an enjoyable experience.
Swyftx vs. Crypto.com: Trading Experience
Crypto.com offers a dedicated Exchange that is designed for the more experienced crypto trader. Available on desktop only, users have access to over 360 trading pairs with USDT, USDC, BTC, and CRO as the base currencies. It offers a sleek, intuitive and clean platform for traders to speculate on the spot, perpetual, and futures markets. The charting is powered by the popular TradingView package with all of its advanced indicators and analytical tools to analyze the price action of digital assets.
Swyftx also offers TradingView charting with advanced analytical tools, however, the interface as a whole is not as refined as Crypto.com Exchange for serious crypto traders. For example, there are no order books to assess the trading volume or spreads, and market orders are not as advanced. Having said that, the existing features and trading experience on Swyftx are definitely fit for the everyday Australian crypto investor.
Winner: Swyftx.
Whilst the Crypto.com Exchange would better suit advanced traders who want access to futures and perpetual trading markets, the TradingView charting and analytical tools provided by Swyftx are more than sufficient for the majority of Australians without being too overwhelming. Moreover, all of the Swyftx features are available on the mobile app, unlike Crypto.com which is split between two platforms.
Swyftx vs. Crypto.com: Trading Fees
When it comes to deposits and withdrawals of fiat and crypto, there is no difference between the two platforms as both charge zero fees. However, there are differences in buying, trading, and selling digital assets. Swyftx charges a fee of 0.6% for all buy and sell orders which cannot be discounted due to its flat structure.
In contrast, Crypto.com Exchange provides a tiered fee structure that follows a maker and taker model. Spot trading fees start at 0.4% and 0.4% for maker and taker orders placed on the exchange. Unlike Swyftx, these can be discounted depending on the 30-day trading volume in USD. For example, if the 30-day trading volume is between USD$25k and $50k then the resulting maker and taker fees are 0.35% and 0.35%, respectively. Using credit cards to buy crypto on the Crypto.com App will incur a fee of between 1.49% and 3.99% which is relatively comparable to Swyftx's 1.99% fee.
Winner: Swyftx.
People who are not familiar with using an advanced exchange to place market orders will be better off using Swyftx. The trading fee of 0.6% is vastly cheaper than the 1.49% and 3.99% that the Crypto.com App charges. However, traders will get better value for money using the Crypto.com Exchange due to its tiered maker and taker fee structure. The trading fees are 0.2% cheaper than Swyftx per trade, and discounts can be obtained on trading fees depending on the 30-day trading volume.
Swyftx vs. Crypto.com: Security
Both Swyftx and Crypto.com are world-class exchanges that have not reported any previous security breaches or hacks. Both are safe and secure platforms that are compliant with the stringent requirements set out by AUSTRAC and ASIC. One of the advantages of Crypto.com is its list of security accreditations and certifications. The exchange was the first in the world to obtain ISO/IEC 27701:2019, CCSS Level 3, ISO/IEC 27001:2013, and PCIDSS v3.2.1 Level 1 compliance. Crypto.com has been independently assessed at Tier 4 which is the highest level for NIST Cybersecurity and Privacy Frameworks.
Swyftx and Crypto.com both store digital assets in a combination of hot and cold wallet storage, 2-Factor Authentication (2FA), and penetration testing from third parties. The technology behind Crypto.com's 2FA is peer-reviewed and uses a combination of static and dynamic course code and analysis tools.
Winner: Crypto.com.
Whilst neither Swyftx nor Crypto.com have been hacked, Crypto.com has achieved international cybersecurity accreditations that ensure that it provides users with the very best security practices possible.
Swyftx vs. Crypto.com: Customer Service
Swyftx offers one of the largest customer service teams in Australia with 35 Customer Support Officers, Resolution Managers, Compliance Officers, and Verifications Officers. Users experiencing technical issues or having queries can get in touch with the team via the 24/7 live chat, email, or Telegram. The live chat feature is highly useful in obtaining basic information such as the account verification process and depositing AUD funds. However, we found that a member of the customer service team shortly intervened and provided a concise and accurate response.
Based on over 3,700 TrustPilot reviews, Swyftx has an overall rating of 4.7 out of 5.0, with over 96% of reviews categorized as ‘great' or ‘excellent'. This is a fantastic rating which is indicative of the platform's focus on customer service.
Like Swyftx, Crypto.com also provides users with a 24/7 live chatbot and email assistance. The downside is that direct phone support is not available. This is not surprising since it's an international exchange. Australians who value a more convenient and intimate way of getting help with issues should have Swyftx at the top of their list.
Winner: Swyftx.
The Swyftx customer service team is the envy of other Australian crypto exchanges. Given its large customer base of over 550,000 Australians, Swyftx offers a large, local, and responsive team for assistance. Direct phone support is also available.
Final Comparison Scores
To conclude this comparison of which exchange is better between Swyftx and Crypto.com, each crypto exchange has been scored using simple evaluation criteria as shown below.
| Comparison Criteria | Winner |
|---|---|
| Supported Countries | Draw |
| Trading Volume | Crypto.com |
| Supported Coins | Swyftx |
| Products, Services & Features | Swyftx |
| Ease of Use | Swyftx |
| Trading Experience | Swyftx |
| Trading Fees | Swyftx |
| Security | Draw |
| Customer Service | Swyftx |
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Kevin Groves
Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started Hedge With Crypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.
