Swyftx and Binance Australia are two of the best crypto exchanges available in Australia. In today’s post, we’ve compared the two so you can make the right choice.
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| Cheaper Fees | ||
| Payment Methods | ||
| Direct Deposit | ||
| PayPal | ||
| Pay ID | ||
| Poli | ||
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| Beginner Friendly | ||
| Mobile App | ||
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| 2-Factor | ||
| Currencies Accepted | AUD | AUD |
Swyftx
A cryptocurrency exchange platform launched in 2017, Swyftx is hugely popular amongst its users. The Australian based site is also said to be one of the most recognized crypto exchanges and includes Bitcoin (BTC), Ethereum(ETH) among 260+ other cryptocurrencies on their trading list for clients all over Australia.
Coin Companion offer: Free $10 to trade with in Swyftx when you register through the link below.
Binance Australia
Binance Australia is an Australian exchange. The platform was created in 2017. It has gained immense popularity amongst its users in Australia, being one of the recognized crypto exchanges for cryptocurrencies such as Bitcoin (BTC), Ethereum(ETH) or 300 other digital assets.
Fees
How much does it cost to trade on Swyftx and Binance Australia?
First, let’s take a look at how deposit fees work. Deposits on Swyftx costs 0. On Binance Australia they charge 0 for a deposit.
When it comes to buy fees Swyftx charge 0.60% and Binance Australia charges 0.10%.
When selling Bitcoin or other cryptocurrencies, Swyftx takes 0.60% while Binance Australia is 0.10%.
Deposit Methods
Swyftx offers 4 methods to deposit AUD on their platform. They are bank transfers, BPay, PoLi, PayID, credit and debit cards., which makes it easy for users as they’re already familiar with these methods.
The daily limit is 0 but for most people this shouldn’t be an issue.
Binance Australia provides these options: Direct Deposit,Credit card, Cryptocurrency, Debit card, Osko, PayID. Their daily deposit limit is $10k.
Taking this into account, we recommend Swyftx for easy deposits.
Security Features
Swyftx is well known for their security measures. They use the following methods:
using JWT tokens & session expiry
offering 2FA account protection
checking for breached passwords on other websites
Binance Australia also takes the security of their customers seriously. Here is what they do to protect your assets:
Supports two types of 2FA
Manage your withdrawal addresses
Check the list of devices authorized to access your account
While both exchanges are secure, it appears that Swyftx has better security over Binance Australia.
Mobile App
Swyftx mobile app is highly rated by their users with a user rating of 4.6 on the Apple app store. It has a great and easy to use user interface.
While Binance Australia does not have an app, it’s website is accessible through a mobile browser.
Swyftx is your best bet for traders who value a great mobile app.
Final Verdict
Either exchange is a great choice with a great service but Swyftx comes out on top for me.
Sign up now using the links below:
Swyftx
Coin Companion offer: Free $10 to trade with in Swyftx when you register through the link below.
Binance Australia