Swyftx vs CoinJar

Dominic Harper // December 8 // 0 Comments

Any Australian that has done some research into crypto will have come across Swyftx, one of the best Australian crypto exchanges, but not as many people have heard of CoinJar, an Australian exchange that has been around since 2013. Before you go with the more well-known Swyftx, let's have a look at the differences between the two and you can decide for yourself.

Comparison Table

Header

Coins

320+

50+

Trading Fee

0.6%

1% 

Deposit Fee

Free

 BPAY: Free, NPP: Free, Blueshyft: 1.5%, Visa/Mastercard: 2%

Withdraw Fee

Free

Free

Payment Methods

Bank transfer, POLi, Credit/Debit card, OSKO, PayID

BPAY, NPP, Blueshyft, Visa/Mastercard

Features

- Live Chat support

- Demo mode to practise trading with free play money

- Spend your crypto by loading it onto a CoinJar Mastercard

- Simple interface that is easy to use

Cell
Header

Coins

320+

50+

Trading Fee

0.6%

1% 

Deposit Fee

Free

 BPAY: Free, NPP: Free, Blueshyft: 1.5%, Visa/Mastercard: 2%

Withdraw Fee

Free

Free

Payment Methods

Bank transfer, POLi, Credit/Debit card, OSKO, PayID

BPAY, NPP, Blueshyft, Visa/Mastercard

Features

- Live Chat support

- Demo mode to practise trading with free play money

- Spend your crypto by loading it onto a CoinJar Mastercard

- Simple interface that is easy to use

Cell

Pros & Cons: Swyftx

  • P R O S
  • Demo mode so you can practise trading with free play money
  • Over 320+ different coins supported
  • Staking available so you can earn interest on your cryptocurrency
  • Live Chat customer support
  • C O N S
  • No BPAY or Blueshyft deposits supported

Pros & Cons: CoinJar

  • P R O S
  • Very easy to use, basic interface
  • BPAY and Blueshyft deposits available
  • CoinJar Mastercard - spend your cryptocurrency in store or online
  • C O N S
  • Only 50+ cryptocurrencies
  • Higher trading fees than Swyftx

Fees

Swyftx does not charge a fee for deposits and withdrawals, and their trading fees are 0.6%.

CoinJar has two fee-free deposit methods: NPP and BPAY. Depositing using Blueshyft incurs a 1.5% fee and Visa/Mastercard will cost you 2%. Withdrawing from the exchange is free of charge. Trading fees for CoinJar are 1%.

Fees Winner: Swyftx

Swyftx offers free deposits and withdrawals regardless of payment type, and has lower trading fees of 0.6%.

Number of Coins

Swyftx has a large range of over 320+ cryptocurrencies.

CoinJar only offers 50+ different cryptocurrencies.

Number of Coins Winner: Swyftx

Swyftx has one of the largest collections of cryptocurrencies with over 320+, whereas CoinJar is fairly limited, only supporting 50+ different coins.

Features

Swyftx is perfect for beginners due to ease of use, with easy access to instantly buy and sell crypto, desktop and mobile access, Live Chat customer support, and a demo mode. The demo mode is a handy feature for newcomers because they can trade with virtual money and see what works before jumping in with the real thing. Swyftx allows their users to generate passive income by earning interest with staking on 21 coins, which is great for those who plan to hold long term.

CoinJar's biggest feature is their CoinJar Mastercard. The card is completely free with no one-off set-up fees or monthly fees. All you need to do is load up your card with any cryptocurrency you like from your CoinJar card, and use it like you would with a regular debit card. You can even earn rewards by spending your crypto with the card. If you don't carry your wallet with you, you can set it up with Apple Pay or Google Pay so you can spend your crypto using your phone or smartwatch instead of the physical Mastercard.

Features Winner: Swyftx

Although CoinJar has their Mastercard where you can spend your crypto, they have quite limited functionality besides that. On the other hand, Swyftx has their useful demo mode, staking and live chat customer support.

Security

Swyftx is a trusted and legitimate Australian cryptocurrency exchange with multiple layers of security to ensure their users' funds and personal information is always secure. Biometric authentication, 2FA (Two-Factor Authentication), KYC verification, consultation with 3rd party security auditors and conducting external penetration testing are all used by Swyftx.

CoinJar also uses various methods to ensure their exchange is secure, such as data encryption, Transport Layer Security, periodic security audits and best practice organisation security. They also store more than 90% of digital assets offline in cold storage to ensure safekeeping.

Security Winner: Tie

It is hard to pick a winner between these two crypto exchanges as they both have multilayered security measures and are very secure exchanges.

Overall Winner

Although CoinJar (see review) has been around for a long time, it doesn't seem to have grown as successfully as Swyftx. Swyftx's fees are only 0.6% , they have a much larger range of coins, offer staking, live chat functionality and even a demo account. CoinJar seems to fall behind in many aspects besides their CoinJar Mastercard which you can use to spend your crypto anywhere that accepts Mastercard.

My pick out of these two crypto exchanges is Swyftx (see full review here), but if you are still looking for other alternatives in Australia, you can read our list of top crypto exchanges in Australia. There is also a short table below that includes some key information to compare the best exchanges.

CoinSpot
Swyftx
Digital Surge
eToro
Binance
Crypto Exchange
Crypto Exchange
CoinSpot
Swyftx
Digital Surge
eToro
Binance
Fiat Currencies
Fiat Currencies
AUD
AUD, NZD
AUD
AUD, USD, GBP, EUR & 11 more
AUD, USD, GBP, EUR, CAD, HKD, JPY & 35 more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, LTC, XRP, BCH, ADA & 360+ more
BTC, BTG, BCH, ADA, ETH, ETC & 320+ more
BTC, ETH, BNB, ADA, XRP & 300+ more
BTC, ETH, BCH, XRP, LTC, ADA & 50 more
BTC, ETH, LTC, BNB, ADA, XRP & 600+ more
Deposit Methods
Deposit Methods
Bank transfer, BPAY, Cash, POLi, PayID, Cryptocurrency
POLi, PayID, OSKO, Bank transfer, Credit card, Cryptocurrency
PayID, POLi, OSKO, Cryptocurrency
Bank Transfer, Credit card, Debit card, PayPal, POLi
PayID, OSKO, Cryptocurrency
Trading Fees
Trading Fees
Market order: 0.1%, Instant buy: 1%
0.6%
Market order: starts from 0.5%, Instant buy: 0.5%
1%
0.1%

To read our privacy policy click this link.

About the Author: Dominic Harper

Dominic has a background in finance and is passionate about cryptocurrency, blockchain technology and NFTs. He has been investing in crypto since 2017, and is excited about the potential for innovation and creative uses for NFTs in the near future.

Enjoyed this article?

Find more great content here: