Swyftx vs. Digital Surge 2023: Which Is Better?

Last Updated on April 17, 2023 by

Swyftx and Digital Surge are two of Australia’s best cryptocurrency exchanges for buying digital assets such as Bitcoin and Ethereum. Both are quite similar in terms of their products and services yet there are differences that you should know about before committing to either one. In this comparison review, we compare the ins and outs of Swyftx and Digital Surge so you can make an informed decision.

UPDATE 10.01.2023 – Digital Surge has entered into administration and is no longer available to use. Therefore, Swyftx wins this comparison by default.

The Bottom Line

Swyftx and Digital Surge are great HODL options for beginners due to their shared offerings of a wide range of cryptocurrencies to buy with AUD and user-friendly interfaces. They also provide competitive trading fees and a safe and secure environment in which to buy and store digital assets.

However, Swyftx will be more appealing to the majority of Australians due to the breadth of its features. Simply put, there is something there for everyone including the ability to passively earn crypto interest, crypto bundles, a free demo mode, and a customisable dashboard. There is also a local and responsive customer team that can be reached in more ways including by phone.

Winner: Swyftx 🏆
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Swyftx vs Digital Suge: Comparison Table

Swyftx digital surge
ExchangeSwyftxDigital Surge
Fiat currenciesAUDAUD, GBP
Number of crypto320+310+
Deposit methodsBank transfer, POLi, PayID, credit/debit cardsBank transfers, POLi, PayID, cryptocurrency
Deposit feesNoneNone, except for POLi ($2 – $3.30)
Maximum trading fees0.6% (flat)0.5% (flat)
Withdrawal feesNoneNone
Interest-earning walletYesNo
Mobile appYes (iOS and Android)Yes (iOS and Android)
SupportLive chat, email, phoneEmail, live chat
VerdictImage WinnerImage Loser
ReviewSwyftx ReviewDigital Surge Review

Swyftx Overview

Based in Brisbane, Swyftx is a reliable cryptocurrency exchange that is trusted by over 650,000 Australian investors, traders and crypto enthusiasts. The brokerage provides Australians with a streamlined process of using cash to invest in popular digital currencies such as Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA).

Swyftx Homepage screenshot

Swyftx was established in 2019 in response to frustrating issues commonly seen in the Australian crypto market such as non-competitive fees and poor customer service. The result is a platform that understands the Aussie market and caters to the needs of everyday people wanting to invest in crypto. As such, its products and services have been specifically designed for the mainstream audience.

Swyftx offers one of the largest selections of digital assets to buy, trade, and sell, with over 320 available. This makes it a viable platform for altcoin traders, especially with its competitive trading fee of 0.6%. To further its reputation as a beginner-friendly platform, Swyftx supports a wide range of account funding methods including bank transfers, PayID, credit/debit cards, and POLi. If you have existing crypto, then you can transfer them across as well.

Swyftx is fully compliant with the regulations set out by AUSTRAC and is licenced to provide cryptocurrency services by ASIC. Industry-leading security measures and controls are implemented and is one of the reasons why the platforms has not been previously hacked or subject to losses of funds or assets.

One of the key benefits of using Swyftx, is that you will receive quick assistance from a locally based customer service team. With a user base of over 650,000 people, it comes as no surprise that Swyftx has a team of over 35 individuals that can be reached by email, the live chat feature, or by phone. There are not too many Australian crypto exchanges that provide this level of assistance support based on our experience.

Swyftx Pros:

  • Wide range of over 320 digital assets to buy, trade, and sell.
  • Value for money with its competitive trading fee of 0.6%.
  • Beginner-friendly interface and customisable dashboard, streamlined account funding and crypto buying processes.
  • Quick onboarding and ID verification process.
  • 6 ways to fund the account including bank transfers, PayID, BPAY, credit/debit cards, POLi, and crypto.
  • Earn interest on crypto up to 101% APY.
  • Excellent customer support from a local team.

Swyftx Cons:

  • Does not offer cryptocurrency staking
  • Leveraged margin and futures trading markets are not supported.
  • Mobile app can be daunting at first for new users

Digital Surge Overview

Founded in 2019 and based in Brisbane, Digital Surge is a brokerage platform that provides Australians and New Zealanders with an easy way to buy, sell and store over 310+ cryptocurrencies. By placing an emphasis on simplicity, Digital Surge targets people who are new to crypto to experienced investors building their portfolios.

digital surge website

Everything about Digital Surge spells ease of use and simplicity. Once you verify your new account and login, you will find the user interface to be refreshing, visually intuitive and enjoyable to use. Something that can’t be said for most other Aussie platforms with outdated interfaces. Processes such as account financing, buying crypto, and using the Earn feature to generate interest yields are streamlined and easy to follow, even for the most inexperienced of users. Read more about the best crypto interest accounts in Australia here.

Like Swyftx, Digital Surge is registered with AUSTRAC and licensed by ASIC to provide cryptocurrency services. Some of the platform’s best features include in-built tax estimating tools, an interest-earning wallet, a local customer service team, support for SMSF investors, and the ability to pay any Australian bill as long as it has a Bitcoin BPAY biller code.

Digital surge also one of the most economical crypto platforms to buy assets with due to its low trading fee of 0.5%. On top of this, the fee structure is tiered meaning that fee discounts can potentially be obtained depending on your 30 day trading volume.

Digital Surge Pros:

  • A maximum trading fee of 0.5% that can be reduced depending on trading volume.
  • An easy to use interface that is suited for beginners.
  • Personalised and 100% Australian-based customer support.
  • Over 310 digital currencies to buy using AUD.

Digital Surge Cons:

  • Credit cards and PayPal not supported.
  • No advanced charting or analysis tools.
  • Does not offer crypto staking

Swyftx vs Digital Surge: Deposit methods

There are notable differences between how your Swyftx and Digital Surge account can be funded with cash. Swyftx currently supports 5 ways to fund an account with bank transfers, PayID, credit/debit cards, POLi, and transfers of cryptocurrency from external wallets. Compare this to the PayID, POLi, and OSKO methods that Digital Surge allows and Swyftx is the winner.

Swyftx provides more flexibility and choice when it comes to depositing money into your account wallet. On top of this, Swyftx does not charge any fees to do so, whilst Digital Surge will charge a minor fee of between $2 and $3.30 for using POLi.

Winner: Swyftx 🏆

Swyftx is the winner for deposit methods as it offers greater flexibility for Australians to fund an account with AUD compared to Digital Surge. Moreover, there are zero AUD deposit fees. In contrast, Digital Surge has a minor fee between $2 and $3.30 for using POLi.

Create an account with Swyftx.

Swyftx vs Digital Surge: Products and services

When it comes to their products and services, Swyftx and Digital Surge actually share a lot of similarities.

Range of cryptocurrencies

If you’re looking to invest in a variety of altcoins then the range of supported digital currencies will be a strong factor in your decision-making. As it so happens, both Swyftx and Digital Surge support over 310 digital currencies which puts them at the top in terms of crypto buying options.

All the major coins and tokens are included such as Bitcoin (BTC), Ether (ETH), Cardano (ADA), Solana (SOL), and Tether (USDT). Meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) are included as well some of the more exotic and low market capitilisation coins such as a Viberate (VIB) and Kava (KAVA).

Overall, there is no significant difference between the two platforms.

Earn interest on crypto

More and more Australian crypto exchanges are providing their customers with wallets that generate interest yields on cryptocurrencies, and Swyftx and Digital Surge are no exception. Both provide you with similar interest-earning services, however, there are some differences.

At the time of writing, Swyftx supports a wider range of 20 assets that can earn interest. Whilst this is not significantly more than the 13 that Digital Surge supports, the coins that Swyftx supports are more popular in terms of their market caps. One of the ramifications of Digital Surge’s more limited list of crypto is that popular coins such as Bitcoin, Ethereum, USDT are not supported.

When it comes to interest yields, Swyftx and Digital Surge are quite comparable across the board with a few instances where Digital Surge offers higher rates and vice versa.

CryptoSwyftx % APYDigital Surge % APY
Tron (TRX)3.88%, 3.47%, 3.00%4% – 7%
Algorand (ALGO)5.35%, 4.65%, 4.00%1% – 4%
Kusama (KSM)19.72%, 17.35%, 15.02%18%
Solana (SOL)4.00%, 3.64%, 3.30%5% – 8%
Cardano (ADA)3.00%, 2.81%, 2.65%4% – 6%
Polkadot (DOT)8.22%, 7.42%, 6.72%9% – 12%

Interest rates are tiered for Swyftx, meaning that the rewards generated depends on the volume of asset deposited into the Earn wallet. For example, if you initially deposit less than 3 ETH then the Tier 1 interest rate is 4.08% APY. However, if the amount deposited increases to between 3 and 6 ETH then the interest rate decreases to 3.05% APY. This means that Swyftx Earn is better suited for beginners who have less cryptocurrency capital.

Swyftx earn interest product

With not much difference between the current APY rates, the differentiating factor for investors might be the number of supported crypto. If you’re with Swyftx, then you can earn interest on more digital assets.

Support for SMSF investors

Swyftx and Digital Surge provide you with the ability to create a separate Self-Managed Super Fund (SMSF). Due to Australian government regulations, SMSF accounts will need to be separate from personal trading accounts. The onboarding process for both Swyftx and Digtal Surge appear to be quite similar, however, the super fund specialist for Digital Surge is unknown. Swyftx has partnered with New Brighton Capital, a specialist in these areas, to provide these services.

Winner: Swyftx 🏆

Swyftx provides a more comprehensive range of features compared to Digital Surge. Unique aspects of Swyftx include a demo trading mode, in-built taxation tools, coin bundles and a fully customisable user interface on desktop and mobile app.

Create an account with Swyftx.

Features unique to Swyftx

For a locally operated crypto exchange, Swyftx is quite progressive with its continual release of new or updated products, services, and features. As a Swyftx customer, you can benefit from these features that are unique to Swyftx.

  • A free demo mode that can be toggled on or off. The demo mode is stocked with $10,000 of virtual AUD funds so you can explore the platform and practice trading risk-free. The demo mode also 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 Digital Surge

A unique feature that Digital Surge offers is the ability for you to pay an Australian bill or credit card using Bitcoin as long as there is a BPAY biller code for BTC. The process is simple where all you need is the BPAY biller code and reference number. A maximum limit of $8,000 equivalent in BTC applies which should cover the vast majority of scenarios.

Paying bills with Digital Surge

Swyftx vs Digital Surge: Ease of use

Swyftx and Digital Surge are beginner-friendly crypto platforms with streamlined user interfaces. However, Swyftx provides you with a bit more flexibility. This is mostly due to its dashboard which is fully customisable. If there is a widget that doesn’t serve you any purpose then you remove or minimise it. Likewise, if you use the Earn feature a lot then you can maximise the widget to give you a better understanding of your portfolio’s performance.

swyftx dashboard

Swyftx has also recently revamped the design of its user interface where features are better organised. Apart from being aesthetically pleasing, the interface improves on its already high degree of functionality. The dark-mode and free-to-use demo mode are still available to be toggled when needed.

digital surge dashboard

In comparison, the Digital Surge user experience is equally as simple and enjoyable. The complexity of the interface may seem a bit lacking compared to Swyftx, however, this is only due to Digital Surge having less features to integrate.

In terms of account funding and buying crypto, both platforms are aware that Australians want streamlined processes and both have delivered in this regard. Once your account is funded with AUD, crypto can be selected and purchased in a matter of minutes, with the assets near-instantly sent to your wallet.

Winner: Draw.

Digital Surge and Swyftx both provide modern and intuitive applications on desktop and mobile devices. In both instances, they were equally easy to use and navigate, beginner-friendly and will suit beginners and experienced users alike.

Swyftx vs Digital Surge: Which has cheaper fees?

Knowing which platform is cheaper will be a big factor in your decision-making…and there are differences that you should know about.

Swyftx and Digital Surge are the same in that they don’t charge any fees for depositing or withdrawing currencies to and from the wallet. The exception, however, is with Digital Surge where a fee of $2 – $3.30 will be charged if POLi is sued to fund the account. Whilst considered minor, the fee can easily be avoided by using PayID or OSKO.

The maximum fees that you will pay for Swyftx and Digital Surge are 0.6% and 0.5%, respectively. This means that Digital Surge is 0.1% cheaper than Swyftx for buy and sell orders and this will appeal to the majority of Australians.

digital surge fees

High-volume traders, or those that use Digital Surge’s Over-The-Counter (OTC) service, may be eligible for fee discounts dpeneding on the volume traded. The ability to trade with lower fees is attributable to its tiered fee structure, as shown below. For example, if your trading volume over the last 30 days is between $100k and $250k, then the 0.5% fee is reduced to 0.4%.

Winner: Digital Surge 🏆

Overall, Digital Surge is a cheaper exchange and a worthy alternative to Swyftx. It has better value for money for entry-level buys and sells due to its slightly lower trading fee of 0.5% versus 0.6% on Swyftx.

Create an account with Digital Surge.

Swyftx vs Digital Surge: Markets & trading

Swyftx and Digital Surge act as cryptocurrency brokers, meaning that they find and aggregate the best possible prices from several large volume exchanges and present those prices to you. Because of this, both platforms only offer spot trading, where a digital currency can be exchanged for fiat currency at a specific time. Markets such as leveraged margin or futures are not supported, mostly due to regulatory reasons.

The trading experience is also similar. The trading interface on Swyftx comes equipped with the TradingView charting package as well as its suite of advanced analytical indicators and drawing tools. Whilst there are no order books to analyse the trading volume and spreads of digital assets, you can at least analyse their price action using the tools provided. You also have the option of placing a variety of orders for purchases including market orders, limit orders, stop orders, and recurring orders (otherwise known as Dollar-Cost-Averaging).

swyftx charting interface

In comparison, Digital Surge also provides TradingView charting along with all the tools needed to analyse the price action. Like Swyftx, you can place a number of control features on your trades:

  • Price Alerts to notify you when a coin reaches a specified price point.
  • Trigger Orders such as stop loss and take profit to buy or sell at certain prices and have the order automatically placed when the price is matched. Multiple trigger orders can be created.
  • Recurring Buys, or DCA, to purchase crypto incrementally over time. This is a  popular tool to mitigate against market volatility since you don’t need to ‘time’ the market.
digital surge charting interface

Winner: Draw.

Both Swyftx and Digital Surge offer very similar crypto buying and analytical features. They are equipped with modern-day trading and investing tools such as Tradingview integration with candlestick charts and conditional orders to manage risk.

Swyftx vs Digital Surge: Mobile apps

Swyftx and Digital Surge provide apps that can be used on iOS and Android mobile devices. The apps allow you to use their features on the go, including all facets of account and wallet management, buying or selling digital crypto, and withdrawing AUD funds.

A feature that is not commonly offered on some of the best crypto mobile apps in Australia, is biometric loging via fingerprint or facial recognition. Swyftx and Digital Surge support this as an added layer of account security.

Winner: Draw.

From our testing, we could not fault either app. Both the Swyftx and Digital Surge mobile apps performed smoothly and without any latency or lag issues whilst switching between features.

Swyftx vs Digital Surge: Customer service

In terms of customer service and support, Swyftx has the upper hand over Digital Surge. The platform allows you to get in touch with the local customer service team via email, phone or live chat. We noted from our testing, that the live chat bot will attempt and solving your questions but a member of Swyftx will promptly introduce themselves and assist. Talking to a real person is much more attractive and convenient compared to a bot. Furthermore, the ability to talk to one of the 35 strong customer service team is unique in the Aussie crypto market.

Although the Digital surge customer service team is local and responsive, reaching out to them is limited to submitting an email ticket. There is a live chat bot to assist with the more basic queries. 

Winner: Swyftx 🏆

Swyftx has a dedicated team that is sufficiently large enough to cater to its massive customer base of over 650,000 Australians. The platform provides you with more ways of getting in touch compared to Digital Surge and we found the support experience to be highly satisfactory.

Create an account with Swyftx.

Swyftx vs Digital Surge: Security

Swyftx and Digital Surge are registered with AUSTRAC, the Australian government body responsible for the monitoring, detection, and prevention of organised financial crimes. Both platforms also comply with Anti-Money Laundering (AML) and Counter-Terrorism (CTF) regulations. 

Based on our research, Swyftx and Digital Surge have not been previously hacked or experienced security breaches that have resulted in the loss of digital assets or customer funds. This is partly due to their implementation of industry-leading security measures such as the storage of assets in a combination of hot and cold wallets (at geographically secure locations), geo-lock logins, 2 Factor Authentication (2FA), encrypted website traffic, hashed passwords, and regular security reviews and penetration testing.

Winner: Draw.

Since both Swyftx and Digital Surge have not been hacked and industry-standard security measures are in place, we find no significant difference in terms of their safety record.

Swyftx vs Digital Surge: Comparison outcome

Based on our comparison review, Swyftx is the superior crypto exchange over Digital Surge. Whilst both platforms excel in providing Australians with a simple on-ramp to buying cryptocurrencies with AUD, Swyftx provides more high-quality features that will cater to the majority of Australian investors and traders. The platform’s commitment to providing the very best in customer service is a plus. Although its fees are 0.1% more expensive than Digital Surge, they are still competitive in the Aussie crypto market. The overall value you get from the whole trading experience and its features help to outweigh this.

For more information, read our Swyftx review and Digital Surge review.

Deposit MethodsSwyftxSwyftx provides more supported deposit methods.
Products & ServicesSwyftxSwyftx provides a more comprehensive range of features.
Ease of UseTieBoth are equally easy to use and navigate, beginner-friendly.
FeesDigital Surge0.1% cheaper than Swyftx.
Markets & TradingTieBoth offer very similar crypto buying and analytical features.
Mobile AppsTieBoth mobile apps are crisp, modern and easy to use.
Customer ServiceSwyftxResponsive team, phone support is a plus
SecurityTieNeither platform have been historically hacked.

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Disclaimer: This article is intended to be used and must be used for informational purposes only. It's important to understand that digital assets are risky, you should always 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.