Swyftx vs Digital Surge

Dominic Harper // March 17 // 0 Comments

If you're doing your research on cryptocurrency exchanges in Australia, you have most definitely heard of Swyftx and Digital Surge. They are two of the top crypto exchanges for Aussies and for good reason. How can you know which of them is better? I will help you decide with my head-to-head comparison of the two platforms.

If you want the answer now: my recommendation is Digital Surge with 300+ coins, lower fees, lower spreads, and Live Chat support. Read through this comparison article to make up your own mind, because what suits the majority of people may not be what you personally need.

Comparison Table

Header

Coins

300+

320+

Trading Fee

0.5%

0.6%

Average Spread

0.21%

0.50%

Deposit Fee

PayID: Free; POLi: $2 - $3.30

Free

Withdraw Fee

Free

Free

Payment Methods

PayID, POLi

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

Features

- Lowest fees and spreads

- Pay BPAY bills using Bitcoin

- Live Chat support

- Live Chat support

- Demo mode to practise trading with free play money

Cell
Header

Coins

300+

320+

Trading Fee

0.5%

0.6%

Average Spread

0.21%

0.50%

Deposit Fee

PayID: Free; POLi: $2 - $3.30

Free

Withdraw Fee

Free

Free

Payment Methods

PayID, POLi

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

Features

- Lowest fees and spreads

- Pay BPAY bills using Bitcoin

- Live Chat support

- Live Chat support

- Demo mode to practise trading with free play money

Cell

Pros & Cons: Digital Surge

  • P R O S
  • Lowest combined fees and spreads in Australia
  • Over 300+ cryptocurrencies supported
  • Live Chat customer support
  • Pay BPAY bills using Bitcoin
  • C O N S
  • No staking available
  • No demo mode

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
  • Higher fees and spreads compared to Digital Surge

Fees

Digital Surge does not charge a deposit fee for PayID, but if you use POLi there is a fee of $2 - $3.30. Withdrawals from Digital Surge are free. The trading fees on Digital Surge 0.5% but they can be reduced if you are a high-volume trader over the previous 30 days.

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

Fees Winner: Digital Surge

Digital Surge has free AUD withdrawals and free deposits using PayID, with low trading fees of 0.5%. 

Spread

Everyone knows to check for the fees when you are comparing crypto exchanges, but beginners may not think about the spread. Spread is the difference between the buy price and the sell price for any given cryptocurrency. If the spread is wide, you could be losing more in hidden fees than you realise, even if the trading fee is a lower percentage. Click here to learn more about spread in crypto.

From the results of this reliable real-world test on lowest fees and spreads, conducted by Australia's best crypto exchange review site, Digital Surge's average fee is only 0.21%, whereas Swyftx has an average spread of 0.51%.

Spread Winner: Digital Surge

Digital Surge has lower spreads than Swyftx, and in fact won the test on lowest fees and spreads in Australia.

Number of Coins

Digital Surge has more than 300+ coins and Swyftx has over 320+ cryptocurrencies.

Number of Coins Winner: Swyftx

Swyftx is the winner in this section, with over 320 coins.

Features

Digital Surge is perfectly designed with beginners in mind, with a basic interface that newcomers can easily navigate. They have 24/7 customer support via Live Chat or email, so you don't need to worry if you run into any issues. Digital Surge also has a cool feature where you can pay any BPAY bills using Bitcoin. This is great for convenience, as well as a big step in the right direction for making cryptocurrency a mainstream payment method.

Swyftx is also a very beginner-friendly exchange. It is simple to use, has instant buys and sells, a mobile app, Live Chat support team, and a unique demo mode. The demo mode is great for newcomers because it gives them a chance to practise trading with $10,000 play money to get the hang of the cryptocurrency market. Swyftx also allows staking on 21 different coins, so you can grow the amount of crypto you own, while you invest in the long-term.

Features Winner: Swyftx

Swyftx's demo account is the main feature that sets it apart from Digital Surge. It is so useful to be able to practise buying and selling, especially for beginners that are not comfortable with how it all works. Being able to stake on Swyftx is also a great feature, allowing you to get more out of your investment.

Security

Digital Surge is a safe and trusted cryptocurrency exchange, with frequent updates to their multi-layered security. The majority of their cryptocurrency is stored safely offline in cold storage to prevent losses via hacks or theft. There has been no reports of hacks or cybersecurity breaches since Digital Surge was founded in 2017.

Swyftx is also very safe, with many different security features to ensure users' data and assets are protected. This includes biometric authentication, 2FA (Two-Factor Authentication), KYC verification, consultation with 3rd party security auditors and conducting external penetration testing.

Security Winner: Tie

Both Digital Surge and Swyftx are top crypto exchanges with the highest levels of security. Neither have been hacked since their establishment.

Overall Winner

Digital Surge and Swyftx are quite similar crypto exchanges. They are both built for beginners, with low fees and spreads, and offer 300+ coins. Even though Swyftx has a couple of additional features, in our opinion, Digital Surge's fees and spread helps it edge out the competition.

If you still can't make up your mind about which crypto platform to use, you can check out the full reviews here (Digital Surge and Swyftx), or even read our helpful article on the best crypto exchanges in Australia. There's also a small table below, where you can compare the main info on the best crypto 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%

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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.

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