Swyftx vs Coinbase 2022

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Sinead Burgess
Sinead Burgess
Updated on September 29, 2022

Swyftx is among the most reliable crypto exchanges for Australians and Coinbase is the most popular cryptocurrency marketplace in USA. Many Australians are familiar with Coinbase due to it being extremely well-known in America however which one is the best option for Australia? I’ve conducted a head-to-head analysis of these two exchanges, so that you can your own decision.

My personal opinion is that Swyftx is the better choice, with no deposit fees, less costs for trading, a trial mode, and a free $20 Bitcoin by signing-up with this link.

Start Trading with Swyftx

Swyftx vs Coinbase Comparison Table

FeaturesSwyftxCoinbase
Swyftx exchange logoCoinbase Exchange Logo
Cryptocurrencies320+160+
Trading Fees0.6%4.49%
Deposit FeeFreeNo fiat deposits
Withdraw FeeFreeNo fiat withdrawals
Payment MethodsPayID, Bank transfer, POLi, Credit/Debit card, OSKODebit card

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Swyftx Pros and Cons

Swyftx homepage

Pros

  • Comes with a staking option for crypto traders/investors who wish to generate passive income from their cryptocurrency holdings
  • Wide variety of available crypto assets and trading options
  • Quick verification process
  • High liquidity
  • Easy tax reporting for each client
  • No deposit or withdrawal fees
  • Easy-to-use iOS and Android compatible mobile app
  • Industry low fees and spreads
  • No security breaches so far
  • Great live chat, email, and phone customer support
  • Built-in TradingView marketplace charting

Cons

  • Doesn’t offer margin or derivatives trading
  • Their financial services are only available for Australian crypto traders as well as those users based in New Zealan

Coinbase Pros and Cons

Coinbase homepage

Pros

  • Over 160+ cryptocurrencies available
  • Coinbase privately guarantees their platform, so your money is secure in the event of an attack
  • User-friendly and simple interface
  • It only takes a few seconds to sign up and begin trading
  • Extremely safe and trusted platform

Cons

  • Complex fee structure, which is more expensive than its competitors

Features

Swyftx is created to make it easy for users. With a user-friendly interface as well as modern designs, Swyftx is the perfect platform for beginners to cryptocurrency. With a demo feature that you can use to practice your trading abilities before making any real money available in the market.

swyftx demo mode

And not only that, Swyftx offers the option of staking on 20 different currencies. This means that you can not only build your portfolio of investment assets without difficulty and ease, but you’ll make some extra cash doing it.

Coinbase is an incredible platform for those who are just beginning to begin their journey in the market of crypto. Through their Earn program it is possible to earn cryptocurrency by watching videos and performing easy tasks.

Coinbase has also an own Coinbase Wallet application, which lets you secure your coins and track your crypto assets.

If you’re a seasoned crypto trader or investor and trader, you may want up from Coinbase Pro. With lower costs for trading and advanced charting tools and more types of orders available You can improve your trading experience to the highest level.

Winner: Swyftx

Supported Cryptocurrencies

Swyftx provides over 320+ cryptocurrency.

Coinbase provides more than 160 coins.

Swyftx is the clear winner in this regard since it has more currencies than Coinbase. That means Swyftx offers you more choices when it comes to selecting which cryptocurrency to trade.

Winner: Swyftx

Fees

Swyftx offers the user a flat 0.6 percent fee for trading for all transactions, while deposits and withdrawals are absolutely free.

Coinbase accepts only debit card transactions. It is charged a sum of 4.49 percent to purchase directly cryptocurrency. Because Coinbase does not allow selling cryptocurrency in Australia it is not possible to withdraw AUD.

Charges Swyftx offers a better deal than Coinbase in this particular category. The platform is free to deposit and withdrawals, as well as an 0.6 per cent trading fee. The fees charged by Coinbase are much higheras purchasing cryptocurrency can cost you 4.49 percent.

Winner: Swyftx

Customer Support

Swyftx promises to provide Live chat service, however it makes use of robots. If you require assistance and assistance, you’ll be in a chat room with a bot instead of the real person. 

In addition, the customer service offered by Coinbase is extremely fast and reliable. Coinbase provides traders round-the-clock accessibility to customer support via phone and electronic ticketing system for customers to use. Additionally to this, the Coinbase Customer Support team are across all popular social media platforms including Facebook and Twitter and traders can reach them easily.

Winner: Coinbase

Deposit Methods

Swyftx accepts POLi as well as cryptocurrency, PayID as well as debit and credit card transactions.

Coinbase is not able to support AUD withdrawals or deposits. However you can make use of AUD to buy crypto directly by using the debit card only.

Swyftx is the clear winner, because it allows a broad range of deposit options. The greatest benefit is the fact that Swyftx deposits are completely free and, aside from having many deposits, users aren’t required to pay charges. Coinbase is, on the contrary on the other hand, does not support debit card instant transactions that result in the 4.49 percent cost.

Winner: Swyftx

Security

Swyftx has put in place top-of-the-line security measures, such as biometric logins and two-factor authentication to ensure that your account is always secure. In addition their security team regularly examines and responds to any attacks on the platform or its users.

coinbase security

In addition to having a solid breached password detection system , and conducting penetration tests with third parties as well, they have a security team which constantly monitors and reacts to any possible security threats.

Accredited by AUSTRAC and in compliance in accordance with KYC regulations, Swyftx provides peace of assurance for both individuals and businesses who want to secure their information online.

Coinbase is a trusted as well as secure exchange service that utilizes the latest security technology to ensure your funds are the most secure and enjoyable experience.

To begin, all employees must pass an investigation into their criminal history and then encrypt their hard drives. The majority of customers’ funds are kept offline. The crypto wallets are secured using AES-256 technology.

To add an extra protection layer the website has 2-factor authentication (two-factor authentication) feature that is in place. The website traffic is encrypted with SSL.

Additionally, they provide insurance on all assets that are stored on Coinbase and you can be confident that your cash is safe with them.

While Swyftx takes security very seriously, and has numerous layers of security to protect you, Coinbase runs a tight boat. The exchange is above and beyond the norm using offline cold storage and providing security for the cryptocurrency stored on its platform.

Winner: Coinbase

Conclusion

While Coinbase is an established international trading platform, Swyftx is much better suitable for Australians. Swyftx allows staking on 20 coins, offers lower costs, a demo mode, and more than 320+ cryptocurrency coins making it the ideal option for Australian cryptocurrency investors.

Coinbase is, on the other side, despite being an acknowledged currency exchange in the United States, has yet to be able to accept the Australian market completely. The exchange is only able to support debit card transactions, with a much higher cost of 4.49 percent. Australian crypto investors are also not able to sell their cryptocurrency on the exchange or take withdrawals of AUD on the exchange.

If you’re looking to know more, check out our review on Swyftx or read our Coinbase review. Check our review of the top cryptocurrency exchanges for Australians to determine if other exchanges would be suitable for you.

Frequently Asked Questions

Is it legal to use Swyftx in Australia?

Swyftx is fully regulated by AUSTRAC, which means it complies with all Australian laws and tax regulations regarding cryptocurrencies, so it’s perfectly legal to use Swyftx.

Is Swyftx safe?

Swyftx is considered one of the most secure Australian crypto exchanges, thanks to their robust security measures, third-party safety audits, and their clean history regarding platform hacks.

Does Swyftx have a withdrawal limit?

The maximum withdrawal limits for Swyftx depend on the verification level you have. In the end, you can withdraw up to 100,000 dollars each day. This is greater than other international exchanges such as Binance ($8,500) or Coinbase ($3,000) as well as most Australian cryptocurrency exchanges such as the Digital Surge ($10,000) as well as CoinJar ($5000).

Who is Swyftx owned by?

Swyftx operates and owns controlled through Swyftx Pty Ltd (ACN 623 556 730) with Alex Harper as the CEO of the exchange.

Does Swyftx have an affiliate program?

Swyftx provides an affiliate program which gives users 30% off the total cost of trade. The discount is applicable to any trades that are made using affiliate accounts. Additional discounts are offered to affiliates that also obtain an affiliate referral code via the platform.

Affiliates receive monthly payments. If someone signs up through their referral link our tracking systems notify the affiliate of their new registration.

Does Coinbase have a mobile app?

Yes. With the Coinbase app for iOS or Android, you can easily keep track of your portfolios, transactions, and market movements and strike the best deal at any time.

What countries are supported by Coinbase?

This American-based exchange offers worldwide online financial services to citizens of over 100 countries in North America, Europe, Asia, Africa, and Oceania. However, not all of the supported countries can use the same services and payment methods.

Does Coinbase provide a cryptocurrency wallet?

Yes. Coinbase offers a secure multi-currency USD wallet that supports over 4,000 cryptocurrencies, NFTs (ERC721 tokens), and decentralised applications (dApps). Users have absolute control over their crypto assets because this is a self-custody crypto wallet.

You can check your wallet balance and trading history with the Coinbase wallet, establish extra security measures, use DeFi liquidity pools to provide or borrow coins, or take part in a DAO and assist in creating a web3 project.

Coinbase wallet users can also easily connect this wallet to their Coinbase account for even greater flexibility in trading. With over 90 countries supporting crypto purchases with credit or debit cards through the Coinbase wallet, you can fund your Coinbase Wallet and launch your NFT catalogue in a few swipes.

Related:

Best Crypto Exchanges Compared

ExchangeDeposit MethodsFiat CurrenciesCryptocurrenciesTrading FeesDeposit FeesWithdrawal Fees

Swyftx

PayID, Osko, Debit Card, Credit Card, Cryptocurrency, Bank TransferAUD / NZD320 +0.6%AUD Deposits: $0 Crypto: NoneAUD Withdrawals: $0 Crypto: NoneVisit

CoinSpot
Coinspot exchange logo

PayID, POLi, Cryptocurrency, Cash, BPAY, Bank TransferAUD370+OTC: 0.1% Instant buy/sell: 1% Market order: 0.1%* (applies to BTC, LTC, XRP, ETH, DOGE, POWR, NEO, TRX, GAS, XLM, EOS, RFOX, RChainDirect Bank Transfer: 0% Direct Deposit: 0% Cash: 2.5% BPAY: 0.9% PayID, POLi, and direct deposits: None AUD withdrawals: $0Visit

Binance
binance logo

PayID, Osko, Debit Card, Credit Card, CryptocurrencyUSD, AUD, CNY, EUR, CAD, GBP, UAH, NGN, TRY, RUB600+0% – 0.1%NoneVaryVisit

Bybit
bybit logo

Crypto, electronic funds transfer (EFT), wire transfer, bank transfer, debit card/credit card50+160+0.1% to 0.6%Bank transfer: $0VaryVisit

Crypto.com
crypto.com logo

Bank Transfer (ACH), Crypto, SWIFT, Fedwire, Wise, PayPal, Debit Card, Credit Card, SEPA, BPay19 including USD, AUD, and SGD250+0.04% to 0.4%$0FREE via bank transfer. $25 for USDC withdrawal via SWIFT NetworkVisit

CoinJar
coinjar new logo

Google Pay, Apple Pay, Debit Card, Credit Card, Cryptocurrency, Bank Transfer, CashAUD, GBP50+Taker: 0.04-0.1% Maker: 0.04-0.1%CoinJar users: No fee NPP: No fee Cash: 1.5%0 Withdrawal FeesVisit

Digital Surge
Digital Surge logo

PayID, Osko, POLi, Cryptocurrency, Bank TransferAUD300+0.1% – 0.5%POLi: $2 (capped at $3.30) Deposit Fees Bank Transfer: NoneNone for AU Bank Accounts Cryptocurrency: Network feesVisit

Independent Reserve
Independent Reserve exchange logo

SWIFT, EFT, PayID, Osko, CryptocurrencyUSD, AUD, NZD270.05% – 0.5%For SWIFT: $15 for deposits under AU$5,000 equivalent None for deposits over AU$5,000 equivalent For EFT: AU$0.99 for deposits under $100 None for deposits over AU$100Cryptocurrency: Fees vary Bank Transfer: None for AUD, $20 for non-AUDVisit

eToro
eToro exchange logo

Skrill, Online Banking, PayPal, Neteller, Debit Card, Bank TransferUSD, AUD, EUR, NZD, GBP, HKD, CAD, CHF, NOK, SGD, and 5+ more70+Vary (overnight and weekend fees apply)Vary (conversion fees for non-USD deposits) ($50 minimum deposit)$5 (minimum withdrawal of $50)Visit

Kraken
Kraken exchange logo

SWIFT, Google Pay, Apple Pay, SEPA, Osko, Wire Transfer, Cryptocurrency, Bank TransferAUD, USD, GBP, EUR, CAD, JPY, CHF140+Taker: 0.10% – 0.26% Maker: 0.00% – 0.16%VaryVaryVisit

KuCoin
KuCoin logo

SEPA, Debit Card, Credit Card, Wire Transfer, PayPal, CryptocurrencyAUD, EUR, USD, RUB, GBP, KRW, CNY, VND, TRY645+0.1%NoneVaryVisit

Easy Crypto
easy crypto logo

Bank transfer, POLi, OSKO, P2PAUD100+Taker fees: 0.5% – 1.6% Maker fees: 0.5% – 1.6%Card deposit fees: 0%$0Visit

Coinstash
coinstash logo

Crypto, Bank Transfer, PayIDAUD410+Taker fees: 0.85% Maker fees: 0.85%$0$0Visit