Swyftx vs. Crypto.com: Which Is Better For Australians To Use?

We compare Swyftx and Crypto.com to see how their products, services, and features differ.

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The Bottom Line

Swyftx and Crypto.com are uniquely different crypto exchanges in Australia; however, based on our comparison, Swyftx is the better-rated option for everyday Australians. The Swyftx platform is simple and offers great value for money, with a trading fee of 0.6% for buy and sell orders, making the exchange highly desirable. Its products and services are tailored to the Australian market. They also have a $20 Free Bitcoin referral code when you sign up and create a new account.

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Swyftx vs. Crypto.com: Deposit methods

Crypto.com only supports BPAY and transferring cryptocurrencies from an external wallet. On the other hand, Swyftx offers a wider range of account funding options. With Swyftx, you can fund your wallet with cash using bank transfers (including OSKO if supported), PayID, BPAY, POLi, and credit/debit cards. 

While the Crypto.com mobile app lets you purchase digital assets using a credit card directly, knowing the associated fees is important. Although both platforms don’t charge fees to fund your account, Swyftx provides more flexibility regarding account financing.

Winner: Swyftx 🏆

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Swyftx vs Crypto.com: Products and Services

Range of cryptocurrencies

Both Swyftx and Crypto.com offer a wide selection of cryptocurrencies for investment, including Bitcoin, stablecoins, and altcoins like Dogecoin, Litecoin, and Algorand. Swyftx has one of the largest cryptocurrency selections in Australia, with over 320 assets available for purchase using AUD. On the other hand, the Crypto.com mobile app supports 250 assets, making it a competitive option. It's important to note that Swyftx does not currently support crypto-to-crypto transactions.

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Features unique to Swyftx

As a Swyftx customer, you can benefit from these features that Crypto.com does not offer.

• A free crypto demo mode equipped with $10,000 of virtual AUD funds so you can familiarise yourself with the platform and practice trading risk-free. The demo mode simulates real-world liquidity and market depth.
• An in-built cryptocurrency taxation tool to provide you with an estimation of your tax bill and net profit.
• A customizable dashboard that you can adjust to show the information you want to manage your portfolio.
• The option to buy bundles of crypto to diversify your portfolio while incurring fewer trading fees quickly.

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Features unique to Crypto.com

A summary of features that are unique to Crypto.com is provided below.

• The Crypto.com Visa Card is available in the Aussie market. It is entirely managed using the Crypto.com mobile app. It can be funded with fiat or crypto and used for purchases at in-store or online merchants that accept Visa.
• This is an NFT marketplace where you can buy NFTs using credit/debit cards or via the Crypto.com App Pay feature. There are no fees to buy NFTs; however, sellers pay a 2%—2.9% seller’s fee in addition to a royalty fee.
• The Crypto.com Exchange offers an innovative soft staking module that allows you to earn crypto payouts on over 30 digital currencies. This feature is particularly useful for exchange users, as interest yields are calculated based on your existing assets and crypto held in pending market orders.
• Crypto-backed loans, where you can borrow up to 50% of your deposited collateral. If you have a stake in CRO, you may be eligible to reduce interest rates by up to 2%.

Winner: Swyftx 🏆

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Swyftx vs. Crypto.com: Ease of use

Swyftx has recently redesigned its user interface to improve its layout and functionality. The previous interface was easy to navigate and use, and many former features have been retained, including dark mode and a customizable dashboard.

The availability of the Crypto.com App and Crypto.com Exchange might be confusing initially. Once you understand the platforms, you’ll find that the Crypto.com App is a pleasure to use with its slick design and high level of responsiveness. However, Crypto.com Exchange can only be accessed on a desktop and is a separate product from the App.

Winner: Swyftx 🏆

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Swyftx vs. Crypto.com: Fees

Both Swyftx and Crypto.com do not charge fees for depositing or withdrawing fiat or crypto. However, they have different trading fees. Swyftx charges a flat 0.6% fee for all buy and sell orders. On the other hand, when using the Crypto.com App, you can purchase crypto at true cost, but there is a 1.5%–4% fee for buying crypto via credit card.

For the Crypto.com Exchange, the starting trading fee is 0.075% for maker and taker orders. The spot trading fees are tier-based and can be reduced based on your 30-day trading volume in USD.

Winner: Swyftx 🏆

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Swyftx vs. Crypto.com: Markets & Trading

The Crypto.com Exchange supports spot, perpetual, and futures trading with over 360 trading pairs. It offers a superior interface with TradingView charts, order books, and indicators. Swyftx lacks futures trading and order books but is suitable for HODL traders.

Winner: Crypto.com 🏆

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Swyftx vs. Crypto.com: Mobile apps

Swyftx offers Australians access to cryptocurrency portfolios and trading through its mobile apps. Users can manage accounts, buy digital currencies, and access customer service. The Crypto.com App provides access to the platform's products and services, except Exchange, which is desktop-only. It is user-friendly and less complicated than other global crypto exchanges' apps.

Winner: Crypto.com 🏆

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Swyftx vs. Crypto.com: Customer service

Swyftx caters to over 650,000 users in Australia and has a locally-based customer service team. They offer live chatbot and direct phone support, which is rare among local exchanges. In contrast, Crypto.com only offers a ticket system and live chatbot for assistance and does not provide phone support.

We aim to publish factual and accurate information as of the date of publication. Please visit that provider's website for specific information about a cryptocurrency exchange or trading platform. This information is general in nature and is for educational purposes only. We do not provide financial advice, nor does it consider your financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your inquiries. 

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We aim to publish factual and accurate information as of the publication date. 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 educational purposes only. We do 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 inquiries.

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