Swyftx and Digital Surge are two cryptocurrency exchanges in Australia that you have undoubtedly come across. Each platform has a wide range of features and reasonable fees. In this comparison between Swyftx and Digital Surge, we will assess which exchange is superior based on multiple criteria, such as supported cryptocurrencies, ease of use, deposit options, trading fees, security features, and customer service.
If you want the answer immediately: our recommendation is Digital Surge due to its lower trading fee of 0.5%, intuitive mobile app, easy-to-use features and great 24/7 customer support.
|Deposit Fee||Free||PayID: Free; POLi: $2 - $3.30|
|Payment Methods||Bank transfer, Credit/Debit card, OSKO, PayID, POLi||PayID, POLi|
|Features|| - Demo mode for trading practice |
- Crypto staking feature with attractive rewards
- Diverse deposit methods supported
| - Simple interface layout for novice users |
- Lower fees and spreads
- Great 24/7 Live Chat support
Swyftx is a cryptocurrency exchange founded in 2019. Swyftx’s features include instant AUD deposits and withdrawals, portfolio management, recurring orders, competitive fees, demo mode and a responsive app. You can learn more about this exchange by reading our Swyftx review.
More than 320+ coins supported
Crypto staking feature with good rewards
Demo mode for trading practice with free play money
Higher fee compared to Digital Surge fee of 0.5%
Takes some time to become familiar with its interface
Lack of high security and trust
No advanced markets for seasoned traders
Customer support using automated bots
Digital Surge Overview
Digital Surge is a cryptocurrency exchange that gives Australians immediate access to purchase Bitcoin using AUD and more than 300 altcoins. It makes buying, selling, and storing crypto in Australia exceptionally simple. The platform features visual portfolio management, minimal trading costs of 0.5%, instant AUD deposits and withdrawals, and a responsive mobile app. After signing up for Digital Surge with a referral code, you can receive free $10 worth of Bitcoin.
Maximum trading fee of 0.5% with low spreads
Simple interface layout tailored for beginners
More security with offline cold storage of assets
Trading fee discounts on volume
Great 24/7 customer support
No credit card & debit card deposits
On Swyftx, traders can trade 320+ different cryptocurrencies. In addition to popular coins such as Bitcoin, Ethereum, Ripple, and Litecoin, Swyftx supports a few coins such as TROY, AVA, and VIA.
Digital Surge offers an abundance of cryptocurrencies, with 300+ coins available for trading. Swyftx also supports less well-known coins and constantly adds new cryptocurrencies to its list.
Winner: There’s no winner. While Swyftx enables users to trade more cryptocurrencies to diversify their investment portfolio, Digital Surge pays more attention to listing more quality coins for users.
The fees Swyftx and Digital Surge charges for depositing and withdrawing AUD or transferring cryptocurrencies to an external wallet are similar. Both provide free AUD deposits when PayID is used as a payment method.
Swyftx charges a flat fee of 0.6% per transaction for buy and sell orders. It also lowers slippage on trading pairs and maintains spreads as low as 0.45% each trade, thanks to its high liquidity suppliers.
Swyftx’s fee scheme. Source: Swyftx
Compared to Swyftx, Digital Surge’s 0.5% trading cost is more enticing. Its trading fees are based on a tiered structure, in which larger deals incur a different fee based on their 30-day trade volume. The trading volume is calculated every hour, and if it surpasses AUD$1M, the trading fee is reduced to 0.1%.
Winner: Digital Surge defeats Swyftx with its cheaper trading fees when both trading fees and spreads are considered.
Swyftx and Digital allow users to fund their wallets via AUD deposits. They also accept deposits of fiat currency made using PayID, OSKO, and POLi.
The primary distinction between Swyftx and Digital Surge is support for credit and debit cards. Customers who use the Swyftx platform can buy cryptocurrency with a credit card from Australian banks. Meanwhile, Digital Surge does not accept credit cards or debit cards.
Winner: Swyftx is the winner as it offers credit & debit card deposits.
Swyftx adopts standard security features, such as JSON Web Tokens, Biometric sign-ins, KYC verification, and 2FA account authentication. However, Swyftx has proven to have security breaches, with $2.3 million being mistakenly transferred into random customer accounts. In addition, many customers complain on Productreview.com that Swyftx’s withdrawals are dubious. The verification procedure is laborious, and it’s hard to transfer cash out of Swyftx.
A negative review about Swyftx. Source: Productreview.com.au
Digital Surge is a reputable and secure crypto exchange that frequently improves its multi-layered security. Most of their cryptocurrencies are held offline in cold storage to secure stored assets in the case of a security breach. Since the establishment of Digital Surge in 2017, no hacks involving loss, damage, or theft of funds have been reported.
Winner: Digital Surge is the winner. Since the exchange was established, there have been no recorded hacks of loss, damage or theft of funds.
Swyftx claims to have a well-organised interface with a simple layout that facilitates simple navigation across the interface and encompasses asset listings, charts, and other trading tools in the sidebar. However, several customers said they didn’t find the Swyftx UI intuitive. It feels cluttered and lacking in simplicity and logic, making it hard for new users to navigate.
The Digital Surge interface is simple-to-use for traders and investors. Instead of a sidebar, the UI features four tabs for navigation: dashboard, wallets, buy & sell, and markets. The dashboard tab will display your portfolio’s performance across specified periods. Coins can be purchased or traded in simple steps, and the wallets page displays presently held assets.
Digital Surge’s interface. Source: Digital Surge
Winner: Digital Surge is the winner because of its intuitive and simple-to-use layout for novice and expert users.
Both exchanges offer ‘instant buy’ options for purchasing assets. Users can quickly find the buy function, enter the number of assets or Australian dollars to spend and execute the transaction.
Swyftx provides a trigger order option based on the market’s movement and other order types such as market order, limit order, stop order and recurring order. However, Swyftx lacks advanced trading features for serious cryptocurrency traders.
Digital Surge allows investors to set up trigger orders (stop loss or take profit orders) and recurring orders, often known as Dollar-Cost-Averaging (DCA). Unlike Swyftx, Digital Surge provides futures, margin trading, more advanced trading charts and tools for intermediate and advanced traders.
Winner: Digital Surge wins here due to its advanced trading features and markets for intermediate and seasoned traders.
Swyftx’s mobile trading application has received a good user rating in the Android Play store, based on 5,767 reviews. Most of the website’s features are available on the mobile app, making it simple to check balances, execute trades, and examine charts.
The mobile platform offered by Digital Surge is compatible with iOS and Android smartphones. Instead of typing login information, the Android app allows biometric login, simplifying the procedure. The UI is intuitive, and nearly all desktop features are available on the app, including the option to establish trigger orders and the availability of 24/7 live chat.
Winner: Digital Surge wins as the mobile application features a simpler login process and more excellent 24/7 live chat support.
Swyftx claims to provide live chat support but uses robots. If you need support, you’ll often be stuck in a conversation loop with a robot instead of a real person. The automated bots can only handle a few simple questions rather than the diverse and distinct issues customers encounter. When requesting human support, you must wait a long time. It is so frustrating, especially for new users, to wait several hours or days for an email response to speak to a real person!
Meanwhile, the Digital Surge customer service team is accessible via mail or live chat. The average response time of the live chat support is within only one minute, which is super fast. It also has a comprehensive FAQ section that addresses the most frequently asked topics. You can easily find millions of positive reviews of Digital Surge’s customer support service on TrustPilot and Reviews.io.
Winner: Digital Surge is better than Swyftx, given its first-class customer service. Digital Surge’s users don’t need to suffer extended delays as with Swyftx.
The comparison between Swyftx and Digital Surge is based on various criteria, and we highly recommend Digital Surge. Digital Surge is far superior to Swyftx because of its lower trading fee of 0.5%, intuitive mobile app, easy-to-use features and excellent 24/7 customer support.