Swyftx vs Btc Markets: Fees, Security, Apps

Swyftx and Btc Markets are two of the best crypto exchanges available in Australia. In today’s post, we’ve done a side by side comparison so you can figure out which one is right for you.

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Rating
Cheaper Fees
Payment Methods
Direct Deposit
PayPal
Pay ID
Poli
Features
Beginner Friendly
Mobile App
Cold Storage
2-Factor
Currencies Accepted AUD AUD

Swyftx

Pros

  • Call feature for beginners
  • Lower transaction fee
  • Lower spreads

Cons

  • Automatic conversion from AUD to USD

Swyftx is a cryptocurrency exchange platform that was created in 2017. It has gained huge popularity amongst its users and it’s also said to be one of the recognized crypto exchanges in Australia, with cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) & 260 other assets on board!

Coin Companion offer: Free $10 to trade with in Swyftx when you register through the link below.

Sign Up Here

Btc Markets

Pros

  • Comparatively low trading fees.
  • Advanced trading tools, charting options, and order types.

Cons

  • Apart from AUD, no other fiat currencies are supported.

Btc Markets, a Australian-based cryptocurrency exchange platform, has been in the crypto industry since 2013. It is one of the most trusted exchanges in Australia and includes cryptocurrencies such as Bitcoin, Ethereum, XRP, and over 25 other digital currencies.

Sign Up Here

Fees

Every time you buy, sell, deposit and withdraw, each exchange will charge certain fees. Here’s a comparison of the fees between Swyftx VS Btc Markets.

First you’ll need to deposit your money on the exchange in AUD. Swyftx takes a cut of 0 and Btc Markets charges a 0 for deposits.

Every time you buy crypto, Swyftx charges a fee of 0.60% and Btc Markets charges 0.2.

When you go to sell your Bitcoin or Crypto Swyftx charges 0.60% and Btc Markets takes a 0.05 cut.

After depositing, buying, selling and withdrawing, Swyftx is the better option because it’s cheaper.

Deposit Methods

Swyftx offers 6 main methods to deposit AUD to your account. They are bank transfers, BPay, PoLi, PayID, credit and debit cards..

The daily deposit limit is 0. Most people won’t need to worry about hitting that limit.

Btc Markets offers a few methods to deposit AUD to your account. They are BPAY, Cryptocurrency, Electronic Funds Transfer, Osko, PayID.

The daily deposit limit is $200.

Overall, Swyftx is a better option because it has more deposit methods available which makes it easier to transfer funds.

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

Btc Markets also takes the security of their customers seriously. Here is what they do to protect your assets:

98% of assets in encrypted cold storage

Twofactor authentication and rate limits

SSL encryption for your protection

While both exchanges are secure, it appears that Swyftx has better security over Btc Markets.

Mobile App

Swyftx has a great, user-friendly mobile app which has a user rating of 4.6 on the Apple app store.

While Btc Markets does not have an app, it’s website is accessible through a mobile browser.

In terms of user experience and convenience on the go, Swyftx is your best bet.

Final Verdict

Both exchanges have great service but if I’d had to pick one overall it would be Swyftx.

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.

Sign Up Here

Btc Markets

Sign Up Here

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