Swyftx vs Digital Surge 2022

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Sinead Burgess
Sinead Burgess
Updated on September 19, 2022

If you’ve been a crypto enthusiast for some time, you’ve probably had heard the names Swyftx as well as Digital Surge. These two Australian cryptocurrency exchanges rank among the top three to five in the field of cryptocurrency exchanges within Australia. However, of the two exchanges, Swyftx wins since it has the demo feature with 20 coins to stake for passive earnings and more than 320 cryptocurrency. Additionally, Swyftx provides a the opportunity to earn free Bitcoin worth $20 if you sign-up using the link below.

Start Trading with Swyftx

There are many various needs with crypto and requirements, so take a look at which one is best for you!

Swyftx vs Digital Surge Comparison Table

FeaturesSwyftxDigital Surge
Swyftx exchange logoDigital Surge logo
CryptocurrenciesMore than 320More than 300+
Average Spread0.5%0.21%
Trading Fees0.6%0.5%
Deposit Fee$0$2 to $3.30 for POLi and $0 for PayID
Withdrawal Fee$0$0
Deposit MethodsPayID, OSKO, Debit Card, Credit Card, Bank Transfer, POLiPOLi, PayID

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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

Digital Surge Pros and Cons

Digital surge mobile and web application

Pros

  • In-platform system for paying bills with crypto
  • Options for advanced orders and dollar-cost average, together with the standard trading interface
  • All-in-one beginner-friendly design
  • SMSFs support
  • Wide range of over 300 digital assets
  • Highly responsive customer support
  • Low fees for instant buys

Cons

  • No possibility for credit-card deposits
  • No access to DeFi markets and NFTs

Features

Swyftx is a simple crypto exchange. It’s easy to use, has instant sells and buys and a unique demo mode and live chat service, and even a mobile application. The demo mode on Swyftx is great for novice traders as it gives users the chance to test their trading strategies and strategies with virtual $10,000. If you’re not looking to engage in any risky trading but you’re not worried because Swyftx allows you to stake on 20 different crypto currencies which means you can earn an income from the comfort of your home.

swyftx demo mode

In addition, Digital Surge is also specifically designed with crypto novices in mind. It features an interface that is basic enough for beginners are able to navigate. In addition, Digital Surge come with 24 hour customer support.

In addition, the exchange has a unique feature that lets you pay your BPAY charges using BTC.

Because Swyftx has more to offer than Digital Surge, it wins the category of features.

Winner: Swyftx

Supported cryptocurrencies

Swyftx includes more than 320+ cryptos, as Digital Surge has over 300 more coins.

digital surge cryptocurrencies

Because Swyftx has more cryptocurrencies on provide this is the clear winner.

Winner: Swyftx

Fees

Swyftx does not charge fees for withdrawals or deposit transactions and their trading charges are 0.6 percent.

In the case of Digital Surge, they don’t charge deposits fees for PayID. If you choose to use POLi, you will incur charges of $2- $3.30. Digital Surge withdrawals are free and the fees for trading are 0.5 percent. If you’ve traded a lot of crypto within the last thirty days Digital Surge can reduce the cost of trading.

Due to the fact that Digital Surge has low trading costs of 0.5 percent and offers no-cost deposits and free withdrawals of AUD using PayID This is the way to win this contest.

Winner: Digital Surge

Customer Support

Swyftx provides live chat service, however it utilizes robots to answer most questions. If you have questions that are complex it is possible to get caught in a chat that is dominated by an AI, not the real person.

Of course, they’ve got real-time human support however, it could take a long time to respond to your the request. There is also email support for those who are willing to sit and wait.

In the case of Digital Surge, they have both live chat support and email support.

The response time for their chat-based support for live chat is less than 1 minute. That’s quite rapid. In addition, Digital Surge offers a extensive knowledge base to answer various often asked-for questions.

Winner: Digital Surge

Deposit Methods

The two Swyftx along with Digital Surge offer a number of deposit options to add funds to your account. Swyftx along with Digital Surge allow deposits made with cryptocurrency Bitcoin, POLi, and PayID.

The distinction is that Swyftx accepts debit as well as credit card deposit (with no fees for any deposit method) and Digital Surge does not. Digital Surge does not.

Winner: Swyftx

Security

Swyftx is a highly secure platform with various security features to guard the assets of their users as well as information. A few of these security features include outside penetration tests, consultation with security auditors from third parties as well as know-your-customer-verification, two-factor authentication and biometric authentication.

Additionally, Digital Surge is also an extremely secure and trusted cryptocurrency exchange. They regularly update their security layers to safeguard their customers. The majority of their cryptocurrency holdings are stored in an off-line cold storage facility to avoid hackers from gaining access to their data.

Each of Swyftx along with Digital Surge have no reported hacks since the time they were founded.

Winner: Tie

Conclusion

When you consider it, Swyftx and Digital Surge are pretty similar to one their counterparts. Both were designed for beginners, they have over 300+ crypto with very low spreads and fees. But, Swyftx offers a couple of additional features, including an demo mode, and staking, which makes it the most reliable exchange.

Additionally, Swyftx offers free Bitcoin worth $20 to everyone who sign-ups using this link.

Be sure to take a look at our comprehensive Swyftx review as well as our Digital Surge review if you aren’t able to make a choice of which exchange to choose!

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.

Do I have to pay taxes when using Digital Surge?

Yes, Digital Surge is a regulated exchange platform that cooperates with Australian tax authorities and keeps reminding its users to always keep clean records of their crypto trades and file taxes on time. Be sure to fulfil your crypto tax obligations on time; otherwise, you’ll end up paying serious fines for tax evasion.

How many customers does Digital Surge have?

Digital Surge counts an impressive number of over 1 million customers who have utilized the exchange service.

Is Digital Surge a crypto wallet?

Digital Surge is an exchange for digital currencies that comes with the benefit of a inbuilt wallet which allows you to save and manage the funds you purchase through the platform, or transfer funds from a different digital wallet you have. There’s a separate wallet tab, where you can view your balance total and the balances of every crypto you own. The best part is Digital Surge allows you to purchase, sell, or transfer cryptocurrency directly through your wallets.

Who owns Digital Surge?

Digital Surge is an ASIC-registered company that has the ABN (89 820 473109) that is operating with the official name Digital Surge Pty Ltd. Digital Surge is headquartered in Brisbane and is led by Co-Founder Dan Rutter as its CEO.

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