Disclaimer: This is not financial advice and it's important to understand that digital assets are risky. This article may contain affiliate links with Swyftx or other partners who may compensate us.

Swyftx Vs BTC Markets

Wazza

Review by Warren Wheeler

btc markets vs swyftx featured image

Summary: After carefully reviewing both exchanges we found that Swyftx was the better option with lower fees, far more tradable assets, more features and better support.

Winner: Swyftx 🏆
Website: www.swyftx.com.au

In this article we will compare Swyftx vs BTC Markets so you can see which is the better option for you and your needs.

Both of these crypto exchanges are very popular here in Australia but each of them do have different qualities and features so let’s jump in and compare them side by side.

Comparison Table

Swyftx LogoBTC Markets logo
Available Cryptocurrencies260+ Cryptocurrencies20+ Cryptocurrencies
Trading Fees0.6% per trade0.85% Limit Order
AUD Deposit OptionsBank Transfer, Debit Card or Credit Card, PayID/Osko, Cash and moreBank Transfer or PayID/Osko
Average Spreads1.7% spread on average1-3%
Year Founded20172013
Mobile Trading AppImageImage
Metaverse, NFTs and DeFiImageImage
No Data Breaches or HacksImageImage
TrustPilot Rating4.8 Stars (3540+ Votes)2.3 Stars (70+ Votes)
VerdictWinnerLoser
WebsiteSwyftx WebsiteBTC Markets Website

Swyftx Pros & Cons

Swyftx is Australia’s most trusted and fastest growing crypto exchange here in Australia. They have over 3450 reviews on TrustPilot with a rating of 4.8 out of 5 stars which is excellent!

Let’s take a look at some of the pros and cons so you can get a quick scope of what Swyftx has to offer…

Pros

  • Over 3540 positive reviews on TrustPilot.
  • Low trading fees.
  • Great for beginners.
  • Modern interface.
  • Over 270 trading assets.
  • Regulated under AUSTRAC.
  • Fast friendly support via Live chat.

Cons

  • Credit Card deposit fees are 2%
  • AUD is the only fiat currency for deposits.

Swyftx also gives you $20 worth of BTC free just for signing up.


BTC Markets Pros & Cons

BTC Markets is a popular cryptocurrency trading platform based in Melbourne. It is one of the leading crypto exchanges in Australia and has been operating since 2013.

It has grown to be one of the leading crypto exchanges in Australia, providing customers with access to major coins at low fees, with fast deposits and withdrawals.

Let’s take a look at the pros and cons we found with BTC Markets…

Pros

  • Training and education provided.
  • A grade charting and technical analysis tools with Trading View.
  • Great for both beginner and intermediate users.
  • Founded almost 10 years ago.
  • Stake crypto and get rewarded with more crypto.

Cons

  • Low number of tradable assets.
  • Poor rating on TrustPilot with only 2.3 stars out of 5.
  • No NFTs or DeFi.
  • No Live chat support.
  • No mobile app.

BTC Markets currently has no sign up promotions.


Swyftx Vs BTC Markets: Fees

Winner: Swyftx 🏆

Overall, Swyftx has the better fee structure and that’s why more and more people are signing up for Swyftx in Australia.

When it comes to trading fees we found that Swyftx was the winner here. They have the most competitive fees in Australia starting at only 0.06%.

Swyftx Vs BTC Markets: Tradable Assets

Winner: Swyftx 🏆

Swyftx has far more tradable assets with over 270 cryptocurrencies available.

Swyftx has more cryptocurrencies available to trade compared to BTC Markets. With over 270 cryptocurrencies to trade you have far more options.

Click here to see available crypto @ Swyftx

BTC Markets focus is the major cryptocurrencies which is ok if you’re only focusing on stable coins.

Swyftx Vs BTC Markets: Security

Winner: Swfytx 🏆

Both exchanges here have high level of security with no data breaches or hacks recorded. However, Swyftx seem to take security a lot more serious.

Both exchanges follow highly secure security measures and are heavily regulated. However, it seems that Swyftx is taking security more serious here…

Swyftx security features:

– using JWT tokens & session expiry;
– offering 2FA account protection;
– checking for breached passwords on other websites;
– consulting with third party security auditors;
– undergoing external penetration testing; and
– implementing a least privileges security model internally.
– KYC and Customer Account Verification

BTC Markets security features:

– 98% of assets in encrypted cold storage
– TwoFactor authentication and rate limits
– SSL encryption for your protection


Final Verdict

Swyftx is the clear winner in this case.

They have a great user-friendly interface, mobile app and large number of tradable assets. Swyftx also has superior support compared to BTC Markets and are much easier to reach.

Another factor we took into consideration was the feedback from the crypto community. For example there are thousands of positive reviews and feedback about Swyftx while BTC Markets ratings were not the greatest.

We recommend trying Swyftx first, they give you a free $10 sign up bonus and have the demo account to play with so you can get used to the app fast.

Click to open Swyftx account

Disclaimer: This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.