Swyftx vs. Crypto.com 2023: Which Is Better?
Last Updated on April 17, 2023 by Kevin GrovesIf you’re reading this article, then you’re probably trying to decide between two of the best crypto exchanges to use in Australia, Swyftx and Crypto.com. As both platforms are widely marketed in Australia through sponsorships and the general media, how do you which one best fits your needs?
In this review, we compare Swyftx and Crypto.com to see how they differ in their products, services, and features to assist you in your decision-making process.
The bottom line
Swyftx and Crypto.com are uniquely different crypto exchanges, however, the former is the superior option for everyday Australians. The simplicity of the Swyftx platform makes it highly suited for beginners and exudes value for money with its competitive trading fee of 0.6% for buy and sell orders. Its range of products and services is tailored to the Aussie market. Everything from the diverse range of supported assets to the competitive interest rewards from Earn will satisfy the majority of Australians.
Winner: Swyftx 🏆
Website: www.swyftx.com.au
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Swyftx vs Crypto.com: Comparison Table
| 
| |
|---|---|---|
| Exchange | Swyftx | Crypto.com |
| Fiat Currencies | AUD, NZD, USD | AUD, USD, and 18 more |
| Number of Crypto | 320+ | App: 250+, Exchange: 360+ |
| Deposit Methods | Bank transfer, POLi, PayID, BPAY, credit/debit card, crypto | Credit card |
| Deposit Fees | None | None |
| Maximum Trading Fees | 0.6% (flat) | Credit card: 1.5-4%, Exchange 0.4% |
| Withdrawal Fees | None | None |
| Interest-earning Wallet | Yes | Yes |
| Markets | Spot | Spot, margin, perpetual, futures |
| Mobile App | Yes (iOS and Android) | Yes (iOS and Android) |
| Support | Live chat, email, phone | Live chat, email |
| Verdict |  Winner |  Loser |
| Review | Swyftx Review | Crypto.com Review |
Swyftx Overview
Swyftx is a cryptocurrency brokerage platform that is based in Brisbane and has been providing reliable crypto products and services to Australians since 2019. The platform is well known in the general community for its high level of connection with the industry and for knowing what Aussie investors and traders want. Essentially, Swyftx maintains its poll position amongst other crypto platforms by continually evolving its products and services to stay up to date.
The reliability of Swyftx stems from its strict adherence to government regulations and stellar security track record. The AUSTRAC registered and ASIC licenced company implements industry-leading security measures which have so far resulted in no breaches or hacks. The strong security history makes Swyftx a secure place to buy, store, and sell cryptocurrencies.
In terms of their crypto offerings, you can exchange Australian Dollars (AUD) for any one of 320 digital currencies. For example, Australians can buy Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA). The list of supported assets is one of the largest in Australia and makes it an ideal destination for altcoin traders.
If you’re unsure or inexperienced with crypto exchanges, then you can always open a Swyftx account, and use the free demo mode to explore the platform and its features. This is entirely risk-free since you use virtual funds instead of your own cash. Explore a bit more, and you’ll find that the dashboard is customisable, a feature that is unique to Swyftx.
If you’re an experienced trader and know how to read real-time charting, then the TradingView charts, indicators, and drawing tools will be of use. There is also a suite of limit orders that can be used. Other features to keep crypto investors and enthusiasts interested include the ability to buy crypto in bundles, SMSF support, in-built tax estimators, and the ability to earn interest on crypto with generous rates.
Swyftx Pros:
Swyftx Cons:
Crypto.com Overview
In comparison to the locally-based Swyftx, Crypto.com provides innovative crypto products and services to over 50 million users across the globe. Crypto.com provides its services through two avenues, the world-class Crypto.com mobile app, and Crypto.com Exchange.
The Cyrpto.com mobile app is orientated to the general community including beginners. This is where you can buy crypto at their true cost using a credit card, track your portfolio including interest earned, and manage your Crypto.com Visa Card.
The Crypto.com Exchange is the desktop version where you can conduct your spot trades on the TradingView interface. Here, you have access to a wider range of cryptocurrencies than the mobile app, with over 360 digital assets to trade with USDT, USDC, BTC, and CRO as the base currencies. You also have the option of applying its newly introduced Dollar-Cost-Averaging (DCA) and grid trading crypto bots to automate trades, which are welcome features to keep Crypto.com relevant. This is also the portal where all of Crypto.com’s financial management products are kept including a soft staking platform and crypto lending services.
Crypto.com Pros:
Crypto.com Cons:
Swyftx vs Crypto.com: Deposit methods
With Crypto.com only supporting BPAY and the transfer of cryptocurrencies from an external wallet, Swyftx is superior with its wider range of account funding options. Currently, you can fund your Swyftx wallet with cash using bank transfers (and OSKO if supported), PayID, BPAY, POLi, and credit/debit cards. The Crypto.com mobile app supports the direct purchase of digital assets using a credit card, but take note of the high fees.
Although both platforms don’t charge any fees to fund your account, Swyftx provides you with greater flexibility when it comes to account financing.
Winner: Swyftx 🏆
Swyftx understands that Australians want choice when it comes to funding their account with AUD and provides more deposit options than Crypto.com There are currently 6 ways to deposit cash into your account including bank transfers, PayID, BPAY, credit/debit cards, POLi, and cryptocurrency.
Swyftx vs Crypto.com: Products and services
When it comes to their products and services, Swyftx and Crypto.com actually share a lot of similarities. The section below summarises the similarities and unique features of both platforms.
Range of cryptocurrencies
Swyftx and Crypto.com offer you a wide selection of cryptocurrencies to invest in such as Bitcoin, stablecoins, and altcoins such as Dogecoin, Litecoin, and Algorand. Swyftx has one of the largest selections in Australia with over 320 assets that can be bought using AUD cash. Compare this to the 250 assets supported on the Crypto.com mobile app, and Crypto.com is not too far off.
The Crypto.com App has over 250 cryptos that can be bought at true cost using a debit card. Its Exchange offers over 360 trading pairs with USDT, USDC, BTC, and CRO as the base currencies. This is an advantage since Swyftx does not currently support crypto-to-crypto transactions.
Earn interest on crypto
Swyftx and Crypto.com offer you the opportunity to passively earn interest payments on your crypto holdings.
The Swyftx Earn module is a wallet that starts to generate interest as soon as one of the 21 supported cryptocurrencies are deposited. At the time of writing, 21 digital currencies such as Bitcoin, Ethereum, Cardano, and Flow are supported where up to 101% Annual Percentage Yield (APY) can be obtained. Interest is calculated daily and rewards are based on a tiered structure where increasing volumes of crypto deposited has diminishing returns.
Despite this, Swyftx still provides very comparable yields compared to Crypto.com, and even more so where CRO tokens need to be staked in order to obtain the highest interest yields. As a rough indication, you need over $40,000 USD worth of CRO staked which is a sizeable investment on its own and will likely turn away beginner investors.
| Crypto | Swyftx Interest Rate | Crypto.com Interest Rate |
|---|---|---|
| Bitcoin (BTC) | 4.08%, 3.05%, 2.02% | 4% |
| Ethereum (ETH) | 4.08%, 3.05%, 2.02% | 4% |
| Tether (USDT) | 6.72%, 5.55%, 4.50% | 6.5% |
| Polygon (MATIC) | 12.75%, 11.63%, 10.52% | 7% |
| Cardano (ADA) | 4.60%, 4.34%, 4.08% | 3% |
Whilst the best interest returns on Crypto.com are harder to achieve, it supports a larger range of crypto, meaning that you have more options. There are currently 37 digital assets that can earn interest payouts.
Features unique to Swyftx
Swyftx offers you several unique features which cater to the everyday Australian. As a Swyftx customer, you can benefit from these features that Crypto.com does not offer.
- A free 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, however, features such as charting and Earn are not available.
- 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 see to manage your portfolio.
- The option to buy bundles of crypto to quickly diversify your portfolio whilst incurring fewer trading fees.
Features unique to Crypto.com
Crypto.com is well known for its premium products and services, with the Crypto.com Visa Card regarded as the flagship feature. A summary of features that are unique to Crypto.com is provided below.
- The Crypto.com Visa Card is one of the best crypto debit cards available in the Aussie market. The card is entirely managed using the Crypto.com mobile app, where it can be funded with fiat or crypto, and used for purchases at in-store or online merchants that accept Visa. To be eligible, you need to stake CRO tokens for at least 180 days with the amount staked determining the card that can be applied for.
- 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, a 2% – 2.9% seller’s fee in addition to a royalty fee paid by sellers.
- The Crypto.com Exchange provides an innovative soft staking module where you can earn crypto payouts on over 30 digital currencies including Polkadot (DOT), Polygon (MATIC), Solana (SOL), and Chainlink (LINK). This is especially useful if you use the exchange since interest yields are calculated on your existing assets, but also crypto held in pending market orders. All you need to do is toggle the feature on.
- Crypto-backed loans where you can borrow up to 50% of your deposited collateral. If you stake CRO, then you may be eligible to reduce interest rates by up to 2%.
Winner: Swyftx 🏆
Crypto.com brings to the table a strong suite of cutting-edge products and services that is reminiscent of a premium global platform. The combination of the premium mobile app and the Crypto.com Visa Card is enough to attract new customers themselves. However, Swyftx provides features that are tailored to the mainstream Aussie market, meaning that more Australians are likely to benefit.
Swyftx vs Crypto.com: Ease of use
Swyftx has recently re-designed its user interface to improve its layout and functionality. In our opinion, the previous interface was already easy to navigate and use, and a lot of the former features have been retained. These include the dark mode and the free demo mode which allows you to explore the platform’s features with $10,000 of virtual cash. This will be especially useful if you’re a beginner since it will dramatically reduce the learning curve.
In comparison, the availability of the Crypto.com App and Crypto.com Exchange might be confusing for you. Knowing what features can be accessed on what platform will take some time. Once you do, 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 desktop and is a separate product from the App. This means users will need to link each product and transfer assets which can be annoying.
Winner: Swyftx 🏆
We liked Swyftx’s new interface design where it still maintains a high level of functionality and intuitiveness. The Crypto.com App and interface for the Exchange are fantastic to use and simple enough for the majority of Australians to quickly understand. Overall, the simplicity of the Swyftx interface makes it extremely suitable for beginners, including those who don’t have a lot of experience buying cryptocurrencies online.
Swyftx vs Crypto.com: Fees
Swyftx and Crypto.com are the same in that they don’t charge any fees for you to deposit or withdraw fiat or crypto. However, there are differences in their trading fees.
For all buy and sell orders, Swyftx will charge you a flat 0.6% fee which is actually quite competitive in the Australian market. Other crypto brokerage platforms can charge as much as 1% for using their ‘instant buy/sell’ features. On the other hand, using the Crypto.com App, you can purchase crypto at true cost. However, there is an excessive 1.5% – 4% fee that you will incur for buying crypto via credit card. With no other payment methods available to Australians, this is a major downside to the app. It may be more worthwhile purchasing crypto elsewhere and transferring it over.
The Crypto.com Exchange has a starting trading fee of 0.075% and 0.075% for maker and taker orders, which is also more expensive than Swyftx. Crypto.com’s spot trading fees are tier-based, meaning that they can be reduced depending on what your 30-day trading volume is in USD. But the trading volume to make this a cheaper alternative to Swyftx is out of reach for everyday Aussie crypto investors.
Winner: Swyftx 🏆
Although slightly more expensive, Swyftx still provides great value for money when compared to other locally operated crypto platforms. The 1.5% – 4% fees for buying crypto on the mobile app via credit card are simply too high on the Crypto.com App.
Swyftx vs Crypto.com: Markets & trading
Crypto.com Exchange supports spot, perpetual, and futures trading markets. In terms of trading pairs, there are over 360 pairs with USD, USDT, BTC, and CRO as the base currencies. Since Swyftx does not support futures or derivatives markets nor crypto-to-crypto transactions, popular trading pairs such as BTC/USDT and ETH/USDT can only be found on the Exchange.
The Crypto.com Exchange interface is also superior to that of Swyftx. It provides you with all the features you would expect from a global cryptocurrency trading platform including TradingView charts, order books, drawing tools, and a suite of indicators. In contrast, Swyftx provides TradingView charting and analytical tools, however, there are no order books so you can’t assess the trading volume or spread of digital currencies.
Both platforms have their purpose and target audience so the choice comes down to what you need. If you consider yourself to be a novice trader or if you prefer to HODL, then the Swyftx trading experience is more than adequate for your needs. However, advanced traders needing access to perpetual or futures markets should choose Crypto.com.
Winner: Crypto.com 🏆
Crypto.com Exchange supports perpetual and futures markets as well as a vast range of crypto that can be traded against, USD, USDT, BTC, and CRO. Swyftx does not offer these features and spot trading is the only option. However, Swyftx provides a crypto trading toolset that will accommodate the vast majority of beginner and intermediate investors and traders.
Swyftx vs Crypto.com: Mobile apps
Swyftx provides Australians with access to their cryptocurrency portfolios and trading activities through its iOS and Android-compatible mobile apps. All of Swyftx’s features can be accessed allowing you to manage and fund your account, buy digital currencies, and reach out to customer service on the go. During our testing, we noted that biometric logins could be set up, adding an additional layer of account security. We found the Swyftx app to be practical and easy to use, but not as refined as the Crypto.com App.
The Crypto.com App has one of the best mobile apps that provides a portal to all of the platform’s products and services, with exception of the Exchange which is desktop only. It is incredibly well-designed without being too overbearing or complicated like the apps of other global crypto exchanges. Overall, we found the Crypto.com App a pleasure to use, and exploring it was enjoyable.
The Crypto.com App allows you to:
- Use your credit card to directly purchase over 250 digital assets at their true cost. Recurring buys can be set up.
- Apply for, set up, and manage your Crypto.com Visa Card.
- Transfer crypto into an interest-earning wallet to passively generate interest payouts.
- Buy, trade, and store NFTs.
- Stay in touch with the latest news including releases of new coins and tokens.
- Stake CRO.
- Soundly manage your crypto portfolio including withdrawing assets to a crypto wallet.
Winner: Crypto.com 🏆
If you prefer to trade crypto on the go, then the Crypto.com App is superior to Swyftx…as long as its products and features suit your crypto needs. It is simply more refined, responsive, and beginner-friendly. Whilst Crypto.com wins this category, the Swyftx mobile app is still very serviceable in terms of its ease of use, features, and functionality.
Swyftx vs Crypto.com: Customer service
With over 650,000 users, Swyftx needs to attend to one of the largest customer bases in Australia. To do this, it has established a locally based customer service team comprising Customer Support Officers, Resolution Managers, Compliance Officers, and Verifications Officers.
If you have any issues, you can reach out using the live chat bot that will eventually connect you to a real person, email, or phone. The addition of direct phone support is something that very few other local exchanges offer.
In contrast, Crypto.com only offers a ticket system and live chatbot as ways for you to seek assistance. This is fairly typical of a global crypto exchange. Unlike Swyftx, there is no phone support.
Winner: Swyftx 🏆
We found the Swyftx customer service experience to be personalised and practical. Apart from being connected to a member of the team through the live chatbot, the ability to call them directly is a major plus. Crypto.com offers standard avenues to its customer service team, and the massive user base of over 50 million means that you might have to wait for your email response.
Swyftx vs Crypto.com: Security
Swyftx and Crypto.com are AUSTRAC-registered and ASIC licenced exchanges that implement industry-leading security measures to mitigate against the potential for losses of your assets or money. Security controls that they share in common include cold/hot asset storage, 2FA verification, encrypted SSL, hashed and salted passwords, and the separation of user details between the database and codebase.
An advantage of Crypto.com is that it possesses ISO/IEC 27701:2019, CCSS Level 3, ISO/IEC 27001:2013, and PCIDSS v3.2.1 Level 1 accreditations. The exchange has also met the highest security standards for NIST Cybersecurity and Privacy Frameworks. Moreover, Crypto.com has partnered with Ledger to hold and store customers’ assets offline vaults. These are expensive institutional-grade wallets that are protected with bank-like security measures and there is even an insurance policy up to USD $750M against physical damage or destruction or theft by third parties.
Winner: Crypto.com 🏆
Although Swyftx and Crypto.com have not experienced any security breaches, Crypto.com has attained a much higher level of security requirements.
Swyftx vs Crypto.com: Comparison outcome
Based on our comparison review, Swyftx is the better crypto trading platform for everyday Australians who are starting out in the world of crypto or who have been investing for a while. The platform is easy to use, and important processes such as depositing cash and buying cryptocurrencies are streamlined such that beginners will have a stress-free experience. Swyftx as a whole has been specifically designed for the Australian crypto market and it shows in its range of services and features. Whilst the trading interface may be lacking for advanced traders, it is more than enough for beginner traders.
Crypto.com is more suited to experienced or advanced traders. Having said that, the Crypto.com Visa Card has enough benefits and perks to make it one of the best crypto debit cards available to Australians. For more information, read our Swyftx review and Crypto.com review.
| Comparison Criteria | Winner | Reason |
|---|---|---|
| Deposit Methods | Swyftx | You have many more options to fund your wallet with AUD. |
| Products & Services | Swyftx | Features are tailored to the Aussie market, however, it depends on what you’re needs are. |
| Ease of Use | Swyftx | The newly revamped Swyftx interface is more beginner-friendly. |
| Fees | Swyftx | Highly competitive fees of 0.6%. |
| Markets & Trading | Crypto.com | Crypto.com offers spot, futures, and perpetual markets. |
| Mobile Apps | Crypto.com | The Crypto.com App is one of the best apps in the world. |
| Customer Service | Swyftx | Personalised and responsive service with direct phone support. |
| Security | Crypto.com | Crypto.com has international accreditations and world-class systems in place. |
If you found this comparison between Crypto.com and Swyftx useful, here are other Australian crypto exchange comparisons to read next:
- Swyftx vs Binance
- Swyftx vs Coinspot
- Swyftx vs Independent Reserve
- Swyftx vs BTC Markets
- Swyftx vs Digital Surge
- Swyftx vs Coinbase
- Swyftx vs CoinJar
Kevin is a cryptocurrency writer that has published hundreds of articles, guides, and reviews. He has been in the crypto space since 2016 and is passionate about sharing his expertise and knowledge with others.