Review by Warren Wheeler
In this article, we will compare Swyftx vs BTC Markets so you can see which is the better option for you and your needs.
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
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Swyftx and BTC Markets – Compared
Both of these crypto exchanges are very popular here in Australia but each of them does have different qualities and features so let’s jump in and compare them side by side.
| Swyftx | BTC Markets | |
|---|---|---|
| Available Cryptocurrencies | 260+ Cryptocurrencies | 20+ Cryptocurrencies |
| Trading Fees | 0.6% per trade | 0.85% Limit Order |
| AUD Deposit Options | Bank Transfer, Debit Card or Credit Card, PayID/Osko, Cash and more | Bank Transfer or PayID/Osko |
| Average Spreads | 1.7% spread on average | 1-3% |
| Year Founded | 2017 | 2013 |
| Mobile Trading App |  |  |
| Metaverse, NFTs and DeFi | | |
| No Data Breaches or Hacks | | |
| TrustPilot Rating | 4.8 Stars (3540+ Votes) | 2.3 Stars (70+ Votes) |
| Verdict | Winner | Loser |
| Website | Swyftx Website | BTC 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 and also read our detailed review on Swyftx for more information.
Pros
Cons
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 from our BTC Markets review…
Pros
Cons
BTC Markets currently has no sign up promotions.
Swyftx Vs BTC Markets: Fees
Winner: Swyftx 🏆
Overall, Swyftx has a 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 have a high level of security with no data breaches or hacks recorded. However, Swyftx seems to take security a lot more seriously.
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
While BTC MArkets can be considered a reasonable alternative, 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 $20 sign up bonus and have the demo account to play with so you can get used to the app fast.
Here are a few more hand-picked Australian exchange reviews and comparisons to read next:
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- Swyftx vs Binance
- Swyftx vs Crypto.com
- Swyftx vs CoinJar
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Warren is the co-founder of CoinCryption. He has a passion for cryptocurrency and has been involved in this space for more than 7 years. His other love is digital marketing and has over 15 years of experience.