Features
Crypto.com is a global exchange with a wide range of services and products. It offers spot and derivatives trading, several staking options, a crypto visa card, an NFT marketplace, cryptocurrency loans up to $1 million and a DeFi Crypto Wallet.
SwyftX has significantly fewer features, with only spot trading and Bundles (Crypto ETFs). Aside from that, the exchange offers no additional services.
Winner: Crypto.com provides investors with a wide range of services to buy, sell, stake, loan and spend cryptocurrency.
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Pricing
Crypto.com offers the most competitive fee structure that we've seen in Australia. Their base fee starts at 0.0750% per trade and goes down to as low as 0.05% depending on user trade volume and the amount of CRO tokens staked. Additionally, deposits and withdrawals are completely free of charge.
SwyftX has nearly an 8x more expensive trading fee compared to Crypto.com, coming in at 0.6% per trade. This is one of the most costly fees in Australia and is significantly above the industry average. However, SwyftX does not charge any fees to deposit or withdraw AUD from the platform.
Winner: Crypto.com wins this category with 0.0750% fee compared to 0.6% fee of SwyftX.
AUD Deposit Methods
Crypto.com supports free deposit methods via SWIFT, FEDWIRE and SEN.
SwyftX currently accepts AUD deposits via Bank Transfer, Osko, POLi & PayID with zero deposit fees. Their platform also has Debit Card, Credit Card deposits; however, these methods charge a 3.6% fee and up to a 4% additional fee from Banxa.
Winner: SwyftX accepts significantly more AUD payment methods than Crypto.com, as it is an Australian exchange.
Supported Tokens
Crypto.com boasts over 250 cryptocurrencies for Australian investors to buy and sell. These include all the top-performing Layer 1 smart contract platforms, DeFi tokens, GameFi & Metaverse tokens and much more.
SwyftX has significantly more tokens, with over 310 different digital assets on its platform. They offer more long-tail altcoins and meme coins compared to Crypto.com, which have a policy of only listing serious and vetted projects.
Winner: SwyftX offers a wider range of tokens with 100 more cryptocurrencies than Crypto.com.
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Security
Crypto.com was the first cryptocurrency exchange in the world to be awarded the ISO/IEC 27701:2019 certification. It is regulated and licensed by ASIC and AUSTRAC. The platform has also never been hacked or had its security breached since it was founded in 2016.
SwyftX is yet to obtain its ISO 27001 Standard Security Certificate but is registered and regulated by AUSTRAC.
Winner: Crypto.com is the overall more secure and trusted trading platform for buying and storing tokens.
Customer Service
Crypto.com offers excellent customer service with a 24/7 live chat feature that can be used in 8 languages, including English, French, Spanish, Turkish and more. In addition to live chat, the customer service team can be reached through email, an online ticket system, and several social channels, including Twitter, Facebook, Instagram, LinkedIn, YouTube, Reddit, Discord & Telegram.
SwyftX also has a live chat feature but does not provide email support or multilingual services.
Winner: Crypto.com has a 24/7 live chat feature with support in 8 languages and is present in more social media channels.
Conclusion
Crypto.com is the better overall exchange when compared to SwyftX because they offer substantially lower fees, a more comprehensive range of features and better support options. It does not make any sense for an investor to use SwyftX which charges a 0.6% trading fee, unless you want access to the 100 tokens SwyftX has listed and Crypto.com does not.
