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.
Swyftx is an excellent platform, with more than 320+ cryptocurrencies, a Demo mode, low fees, and 24/7 live chat support. While Swyftx is our recommended crypto exchange, have a read through this article so you can compare the differences between the two so you can decide for yourself.
Comparison Table
Header |  |  |
|---|---|---|
Coins | 320+ | 50+ |
Trading Fee | 0.6% | 1% |
Deposit Fee | Free | NPP: Free, Blueshyft: 1.5%, Visa/Mastercard: 2% |
Withdraw Fee | Free | Free |
Payment Methods | Bank transfer, Credit/Debit card, OSKO, PayID | 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 | NPP: Free, Blueshyft: 1.5%, Visa/Mastercard: 2% |
Withdraw Fee | Free | Free |
Payment Methods | Bank transfer, Credit/Debit card, OSKO, PayID | 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
Pros & Cons: CoinJar
Fees
Swyftx does not charge a fee for deposits and withdrawals, and their trading fees are 0.6%.
CoinJar has one fee-free deposit methods: NPP. 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.
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, and 24/7 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, lower fees, 24/7 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.
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