Comparison of Bitflyer vs Swyftx [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitflyer vs Swyftx comparison!

Your expert: Alejandro Borja

Bitflyer

Your expert: Xavier Tarrasó

Swyftx

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≈ 0,06%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with some discounts for high-volume trading.

4.0 – Competitive fees with strong local support in Australia and New Zealand.

Level

0,10%

≈ 0,06%

Brief explanation

BitFlyer structures its commission fees with an aim to be transparent and competitive, though they are often perceived as slightly higher than some of its global competitors. The exchange charges a flat fee for transactions, which can vary slightly depending on the market conditions and the specific services used. For instance, trading Bitcoin typically incurs a fee of about 0.1% to 0.15%, but this can differ for other cryptocurrencies or more complex transactions such as futures or options trading. Importantly, these fees contribute to the high level of security and regulatory compliance that BitFlyer offers, making it a trusted platform despite the slightly higher costs.

Swyftx charges a competitive trading commission which is built into the spreads, typically around 0.6%, making it quite transparent and straightforward. The platform does not charge any deposit or withdrawal fees for AUD transactions, which is a notable advantage for local users. Additionally, Swyftx keeps its fee structure uncomplicated with no hidden charges, allowing traders to easily understand what they will pay when executing trades on the platform.

Bitflyer

Year Founded: BitFlyer has been operational since 2014, giving it a long-standing presence in the cryptocurrency world. This longevity in the rapidly evolving digital currency landscape speaks to its stability and enduring commitment to its users.
Security Methods: BitFlyer employs rigorous security measures, including compliance with multiple regulatory standards across jurisdictions. It uses advanced encryption and follows strict internal security protocols to safeguard user data and funds.
Possible Regulation: The exchange is one of the few that has successfully navigated the strict regulatory environments of Japan, the United States, and Europe. It holds significant licenses, including the prestigious New York BitLicense, enhancing its credibility and trustworthiness.
Reputation and Reviews: BitFlyer's reputation in the crypto community is strong, bolstered by positive reviews from users who praise its user-friendly platform and security practices. Its regulatory compliance further reinforces its reputation as a trustworthy platform.
Trading Volume and Liquidity: With a substantial trading volume and high liquidity, BitFlyer offers users the advantage of better price stability and the ability to execute large transactions with minimal impact on the market price, making it a reliable platform for trading major cryptocurrencies.

Swyftx

Year Founded: Since its establishment in 2018, Swyftx has quickly grown to become a key player in the Australian cryptocurrency market. This rapid growth and sustained presence highlight its stability and enduring appeal to users.
Number of Users: Swyftx boasts a large user base, which is a testament to its popularity and trustworthiness. A significant number of users also suggests a high level of satisfaction and reliability.
Security Methods: Swyftx employs robust security measures including two-factor authentication (2FA), biometric logins, and custom withdrawal whitelist settings. These features ensure that users' funds and data are protected against unauthorized access.
Trading Volume and Liquidity: The exchange has a high trading volume and liquidity which ensures that users can buy and sell their assets easily without a significant impact on the prices, which is crucial for both new and experienced traders.
Reputation and Reviews: Swyftx has garnered positive reviews for its user-friendly interface, responsive customer service, and transparent fee structure. Its reputation within the Australian market is strong, with many users recommending it for both beginners and experienced traders.

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Account Minimum

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

Swyftx Pty Ltd.

Regulation

Regulated in Japón

Regulated in Australia

Year founded

2014

2017

Founder

Yuzo Kano

Alex Harper

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Swyftx
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	Swyftx allows for relatively low minimum trades, making it accessible for beginners who wish to start small.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	The platform has competitive fees, lower than many of its local competitors, though slightly higher than global exchanges.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	Swyftx offers a wide selection of cryptocurrencies, catering to traders interested in both popular and less-known coins.
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	Offers a robust range of trading pairs, enabling flexible trading strategies across various digital assets.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	The Swyftx website provides clear, detailed information on fees, policies, and trading options, aiding users in making informed decisions.
bitFlyer offers a prepaid card in Japan, which can be used for online and in-store purchases. This card allows users to spend their crypto directly, making it convenient for daily use.	Credit/Debit Card	The Swyftx crypto debit card seamlessly converts cryptocurrencies to fiat for easy everyday transactions, with added benefits such as reward points on purchases.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	Provides secure storage options, though it’s always recommended users keep large amounts in personal wallets for added security.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	Offers staking options but with fewer choices and rewards compared to leading competitors.
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	Both mobile and desktop platforms are highly rated for their user-friendly interfaces and functionality.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Generally responsive and helpful customer service, but peak times can see slower responses.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	Deposits and withdrawals are generally efficient, though some users report delays during high-demand periods.

Key features

Analysis tools

Basic to intermediate charting tools

Advanced charting tools, technical analysis

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Spot trading, margin trading, Bitflyer Lightning exchange, recurring buys

Staking, fiat on/off ramps, Swyftx Earn, demo mode

Anonymity

Key points

Available cryptocurrencies

10+

300+

User-friendliness

Bitflyer features a simple and intuitive interface, ideal for beginners. The platform focuses on providing a seamless trading experience, making it easy for new users to buy and sell cryptocurrencies.

Swyftx features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Provides reasonable value for money with low trading fees and a user-friendly platform, making it a good choice for beginners.

Delivers good value for money with competitive fees and strong local support in Australia, making it a good choice for regional users.

Countries of operation

Japan, United States, Europe

Australia, New Zealand

Best for

Great for beginners and experienced traders in Japan, the US, and Europe who want a user-friendly platform with competitive fees.

Best for Australian and New Zealand investors looking for a user-friendly platform with competitive fees and strong local support.

Base currencies available

JPY, USD, EUR, BTC

AUD, BTC

Account

Trading

Bitflyer provides a secure and easy-to-use platform with a decent selection of cryptocurrencies. It is particularly popular in Japan. However, it lacks some of the advanced trading features found on other major exchanges.

Swyftx is a popular exchange in Australia, offering a user-friendly platform and easy fiat integration. It supports a wide range of cryptocurrencies and competitive fees but lacks some advanced trading features.

Deposit and withdrawal

Bitflyer offers secure and efficient deposit and withdrawal methods, including bank transfers and crypto deposits. Withdrawals are processed within a day, and fees are competitive .

Swyftx is popular in Australia, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

Bitflyer’s account opening process is easy and efficient. Users need to provide personal information, verify their identity, and address. The process is fully digital and typically takes less than a day.

Swyftx provides an easy and fast account opening process. Users need to provide personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes

Customer Service

Bitflyer offers customer support via email and live chat. The support team is responsive, and support is available 24/7, making it convenient for users needing immediate help.

Swyftx provides support through email and live chat. The support team is responsive and available 24/7, making it reliable for users in Australia and beyond.

Security

Bitflyer ensures high security with 2FA, encryption, and cold storage. It is regulated by Japanese authorities, ensuring strong security for investors.

Swyftx ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend BitFlyer for users new to cryptocurrency trading due to its user-friendly interface and robust security measures. While its trading fees are a bit higher and the variety of cryptocurrencies somewhat limited, BitFlyer’s strong regulatory compliance and excellent platform stability make it a reliable choice for those prioritizing security and ease of use. If you’re starting your crypto journey, BitFlyer is a commendable option to consider.

Xavier Tarrasó

As a cryptocurrency investment analyst, I find Swyftx to be an excellent choice for those new to the crypto market or looking for a user-friendly trading experience. The platform offers a wide range of cryptocurrencies and has a straightforward, easy-to-navigate interface that simplifies trading. While it could improve its offerings for more seasoned traders by adding advanced trading tools, for most users, Swyftx provides a reliable and secure environment to start their cryptocurrency investment journey. If you’re based in Australia, I highly recommend considering Swyftx as your go-to exchange.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.