Swyftx vs Binance Australia: It’s Not That Easy

Here’s Our Verdict

Regarding crypto trading in Australia, Swyftx and Binance are two heavyweights worth comparing. Swyftx is a homegrown platform with ease of use, user-friendly features, and excellent local support. 

On the other hand, Binance Australia, part of the world’s largest crypto exchange, brings sound trading fees, advanced tools, and access to over 440 cryptocurrencies. Although the 300 USDT bonus is tempting, Binance Australia maintains a solid platform.

But Swyftx has a better connection to its customer base, with features and markets evolving to help ensure its appeal as a reliable and trusted crypto exchange. The delivery of its features is excellent. Items like its virtual demo mode, crypto bundles, and deposit mechanisms are all straightforward on its visually intuitive platform.

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Overall winner: Swyftx 🏆

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Swyftx vs Binance: Products and Services

As you will discover in our Swyftx review, the platform focuses on simplifying crypto trading for the general public. Key features include instant buy/sell, portfolio tracking, recurring purchases, and the popular crypto demo mode for risk-free practice. 

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While these tools are fantastic for the everyday Australian, the platform lacks advanced trading options like futures, margin, or staking. However, this is not the platform's fault; it is due to the regulatory environment.

Binance, on the other hand, offers a comprehensive suite of products, including spot trading, trading bots that provide flexibility and control for spot traders, and a P2P marketplace for buying crypto direct from other Binance users and withdrawing AUD. If you want versatility and advanced tools, Binance wins hands down.

There’s more to discover in our Binance review.

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Winner: Binance Australia 🏆

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Swyftx vs Binance: Deposit Methods

Swyftx makes it easy to deposit AUD using popular methods like PayID and bank transfers. Deposits are fee-free and often instant, perfect for those who want a hassle-free experience.  Credit and debit cards can be used to directly purchase crypto, but be aware of the fees. Withdrawals are also quick and free of charge. 

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Binance supports AUD deposits primarily through cards, and bank transfers are no longer possible. However, users must complete additional verification steps, which can delay the process. 

Swyftx outshines Binance regarding AUD deposits for convenience and speed, but only slightly.

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Winner: Swyftx 🏆

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Swyftx vs Binance: Supported Cryptocurrencies and Trading Pairs

Swyftx offers over 440 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and popular altcoins like Solana (SOL) and Cardano (ADA). While this selection covers most traders’ needs, it falls short for those wanting niche tokens.

Binance boasts an impressive lineup of 445 cryptocurrencies and thousands of trading pairs. Whether you’re looking for popular coins, DeFi tokens, or obscure altcoins, Binance has you covered. Binance is the clear winner here due to its ample trading pairs if you're a trader who values variety.

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Winner: Binance Australia 🏆

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Swyftx vs Binance: Ease of Use

Swyftx is designed with the everyday Aussie in mind. The clean, straightforward interface makes buying and selling crypto effortless. The demo mode is a standout feature, letting you practice trading without risking real money.

Binance’s interface is more complex due to its features, but it still manages to be relatively straightforward despite being a platform with global reach. This is largely because Binance Australia cannot offer advanced trading markets and features like staking under the current regulatory environment.

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While experienced traders appreciate the robust tools, beginners might find the platform overwhelming. Swyftx wins for ease of use, while Binance caters to users who need professional tools.

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Winner: Swyftx 🏆

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Swyftx vs Binance: Fees

Swyftx charges a flat 0.6% trading fee on all trades, but these fees can be reduced depending on your trading volume. While this fee is higher than Binance’s, Swyftx keeps it simple with no hidden charges or complicated tiers.

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Binance offers lower fees, starting at 0.1% per maker and taker order. Users can also reduce fees further by holding Binance Coin (BNB) or trading in higher volumes. For cost-conscious traders, Binance is the more affordable option.

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Winner: Binance Australia 🏆

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Swyftx vs Binance: Markets and Trading

Due to regulatory issues, Swyftx only provides spot trading services against AUD. Advanced markets like margin and futures are unregulated in Australia. However, based on our reviews, you can use some international crypto exchanges for derivatives trading, such as Bybit, MEXC and Phemex.

Similarly, Binance's robust spot trading platform is packed with fiat-to-crypto and crypto-to-crypto trading pairs. The endless combinations offer numerous base currencies like USDT, BNB, TUSD, BTC, altcoins, and fiat.

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Suppose you’re a trader looking for more than basic buy/sell capabilities. In that case, Binance’s more extensive market options provide flexibility and depth, making it an ideal platform for active trading.

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Winner: Binance Australia 🏆

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Swyftx vs Binance: Mobile Apps

Both platforms offer mobile apps for iOS and Android. Swyftx’s app mirrors its website’s simplicity, making it perfect for basically anyone. You can seamlessly buy, sell, track your portfolio, and manage recurring purchases.

While feature-rich, Binance’s mobile app can feel overwhelming due to its complexity. It’s a powerful tool, but it may take some getting used to - a feat that is definitely achievable in a short space of time..

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Winner: Swyftx 🏆

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Swyftx vs Binance: Customer Service

Swyftx’s Australian-based customer support is one of its strongest features. You can access live chat, phone support, and email responses, often within minutes. This local support ensures a smooth experience when you need help.

Binance relies on a ticket-based system and automated responses, which can be slow and frustrating during high-demand periods. Swyftx wins for reliable, responsive customer service.

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Winner: Swyftx 🏆

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Swyftx vs Binance: Comparison Outcomes

If you’re a beginner looking for a simple, user-friendly experience, Swyftx is the ideal choice. It’s designed for Aussie users, with excellent support and seamless AUD deposits. However, if you’re an experienced trader seeking low fees, advanced tools, and a vast selection of cryptocurrencies, Binance Australia is the clear winner.

Your decision comes down to your trading goals and experience level. Both platforms are excellent — you just need to pick the one that suits your needs best.

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Exchange Creation: Start Trading Brokerage Online

If you’re an entrepreneur or a business looking to start your own crypto exchange, platforms like Swyftx and Binance highlight the potential of tailored user experiences and advanced trading tools. However, building your own exchange doesn’t have to be an overwhelming task. With HollaEx®, our white-label crypto exchange software, you can launch your own platform quickly and efficiently.

HollaEx® offers unmatched scalability and customization, allowing you to design a trading experience that meets the needs of your users, whether you’re focusing on simplicity for beginners or advanced tools for seasoned traders. With features like easy fiat onboarding, multi-asset support, and customizable trading fees, your exchange can rival even the biggest names in the industry.

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We aim 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 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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