Swyftx vs CoinSpot

Overview: Coinspot vs Swyftx

CoinSpot launched in 2013 and is one of Australia's longest-running exchanges, with more than 2.5 million users as of 2025. It has a simple interface and a long history of security, making it a popular go-to exchange for beginners looking to dip their toes in the crypto markets. Coinspot was named Highly Commended in the Best Overall category in the 2024 Finder Crypto Trading Platform Awards.

Swyftx was founded in 2018 but has quickly made name for itself thanks to its convenient payment options, demo account and local customer support mean. It was named the best crypto platform for Beginners in the 2024 Finder Crypto Trading Platform Awards.

But which comes out on top?

Our verdict: Coinspot

Overall, we've rated Swyftx a slightly better overall option for beginners than CoinSpot.

But ultimately either exchange is a good choice for beginner crypto investors.

Both exchanges focus on offering instant purchases using AUD, with Swyftx charging a 0.6% fee on instant buys and Coinspot charging 1%. However, Coinspot only charges 0.1% for limit orders, which is when you can set the price at which you want to buy a certain crypto.

Both exchanges have an accessible user interface, educational resources, a huge range of cryptocurrencies on offer and multiple fee-free payment options.

Neither platform has experienced a significant hack and both are registered with AUSTRAC. Both offer live chat, although Swyftx's response times are usually a little faster.

It's worth remembering that there's no such thing as a "best" exchange – only exchanges that are "best" for you. You should pick the platform that offers the features that you value as most important.

Swyftx vs Coinspot: The key stats

Finder Score	4.0 ★★★★★	4.0 ★★★★★
Trading Fee	0.1 – 0.6%	1%
Deposit method	Bank transfer,Credit card,Cryptocurrency,Debit card,PayID	Bank transfer,Credit card,Cryptocurrency,Debit card,PayPal
Withdrawal Fees	AUD: $0 Cryptocurrency: $0 (network fees apply)	AUD: None Cryptocurrency: Fees vary
24/7 support?		Yes
App available?	Yes	Yes
	Go to site More info	Go to site More info

Swyftx vs Coinspot: Local presence

CoinSpot and Swyftx are both based in Australia; CoinSpot has its HQ in Melbourne, while Swyftx operates out of Brisbane. Both platforms allow their customers to deposit and trade using Australian dollars and both are registered with the Australian regulatory body AUSTRAC and comply with anti-money laundering (AML), know your customer (KYC) and counter-terrorism financing (CTF) protocols.

Each exchange offers a native multi-token wallet that can hold, receive and send a large variety of cryptocurrencies. Both support the option to buy "bundles" instead of single crypto assets, similar to an ETF.

Verdict: Swyftx wins for its superior local customer support.

Swyftx vs Coinspot: Supported coins

Number of tradeable crypto assets	445	536
	Go to site More info	Go to site More info

CoinSpot nudges in front when it comes to supported cryptocurrencies, giving its user base access to over 50 coins more than Swyftx.

With that said, the majority of investors will find most assets they are considering on either platform. Neither exchange has any glaring omissions, although CoinSpot also offers NFT collections.

Verdict: Coinspot boasts the bigger coin selection, but both offer most popular cryptocurrencies.

Swyftx vs Coinspot: Supported fiat currencies

Number of supported fiat currencies	3	1
	Go to site More info	Go to site More info

Swyftx and CoinSpot are both Australian-native exchanges and offer Australian dollar deposits to their customers. Swyftx has also expanded its operations to New Zealand and allows NZD deposits too.

Swyftx vs Coinspot: Fees

Minimum deposits	$0	$1
Deposit Fees	Bank transfer: $0 Card: $0 PayID: $0 Cryptocurrency: $0	Bank transfer and PayID: None Cash: 2.5% Card: 1.88%
Trading Fee	0.1 – 0.6%	1%
Withdrawal Fees	AUD: $0 Cryptocurrency: $0 (network fees apply)	AUD: None Cryptocurrency: Fees vary
	Go to site More info	Go to site More info

Fees on CoinSpot are fairly competitive, with 0.1% for limit orders on select cryptocurrencies and 1% for instant buys and limit orders. It also charges no deposit or withdrawal fees for AUD.

Swyftx has a flat trading fee of 0.6% for both instant purchases and limit orders, which is lower than Coinspot's instant purchase fee (but higher than its limit order fee). Like Coinspot, it also lets you deposit and withdraw AUD without fees.

Neither boasts the competitive trading fees of global exchanges like Binance or Kucoin. Ultimately, the platform that is likely to be more cost-effective for you will depend on whether you plan on using instant purchases or limit orders to buy crypto. If it's the former, Swyftx might be a better bet, if it's the latter then it might be Coinspot.

Verdict: It's a stalemate. Coinspot wins for limit orders and Swyftx wins for instant buys.

Swyftx vs Coinspot: Deposit methods

Deposit methods	Bank transfer, Credit card, Cryptocurrency, Debit card, PayID	Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal
	Go to site More info	Go to site More info

CoinSpot offers a variety of popular deposit methods for fiat currency. Customers can choose from instant online transfers (POLi and PayID), bank transfers and cash deposits at supported newsagents around Australia. Swyftx doesn't offer cash deposits but does allow standard bank transfers as well as POLi, Osko and PayID payment methods.

What separates the exchanges is Swyftx's support for credit card deposits. Customers can deposit a maximum of $50,000 each day, with a minimum deposit of $30. Card transactions typically take less than half an hour.

Verdict: Swyftx edges it because of its support for credit cards.

Swyftx vs Coinspot: User reviews

Finder users have left over 300 reviews for both CoinSpot and Sywftx which are overwhelmingly positive.

The two exchanges have very similar user scores on FInder. CoinSpot scores an average of 4.3/5 and Swyftx 4.4/5.

Swyftx received 3 awards in the 2024 Finder Crypto Trading Platform Customer Satisfaction Awards.

Verdict: Swyftx has the higher user score.

CoinSpot reviews

A common theme among CoinSpot users is praise for how easy the platform is to use and its beginner-oriented features. Customer support is also well-regarded.

As for criticisms, they tend to focus on issues with account verification and security measures that some users find inconvenient.

As a novice and home investor who is just getting started, CoinSpot has simplified and demystified the process for me. The interface is clear, and support has been quick and clear when I've needed it. I'm having fun with it too!

KS Math, VIC, Finder Member

This is a great platform for beginners, very easy to use. The desktop site has many more features than the app. The app is still great. But with the desktop, you are able to set prices for buy and sell. If a coin reaches this price you've input you will receive a notification via email or text or both. Low fees.

Jay, QLD, Finder Member

I registered with CoinSpot when I didn't know much. There are better ones out there. They have an authentication process that takes a couple of days so it takes a little while if you want to get started urgently (not really possible with this exchange). However, I did have someone crack into my emails and try to steal my Bitcoin and CoinSpot was excellent in blocking them/passing on the details to me.

Kat277, VIC, Finder Member

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Swyftx reviews

Swyftx users consistently praise its customer service team, with many users saying how quick they were to respond. Beginner cryptocurrency investors appear to have an easy time using the platform.

Criticism of Swyftx appears to revolve around accounts being banned and users struggling to retrieve funds.

Always super fast in addressing any issues I've had. Customer support is 100% Great for beginners or experienced, really easy to navigate.

Nick, WA, Finder Member

I've been with Swyftx for a few years now and everyone has been helpful as a newbie back then my experience has been great along with the constant updates and platform expansions im happy.

Dean, QLD, Finder Member

Old one was good. This is clunky slow and all over the place. Changed to sms verification. Problems if overseas or don't have mobile phone. 4 times doing kyc after already doing it last year. Changed for the worst.

Daz, Indonesia, Finder Member

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Written by

Thomas Stelzer

Journalist

Tom Stelzer is a journalist with 6 years of experience covering personal finance, specialising in investment and cryptocurrency. With a Master of Media Arts and Production and a Bachelor of Communications in Journalism from the University of Technology Sydney, Tom provides expert analysis on digital assets and market trends, helping readers navigate the fast-evolving world of finance. See full bio