Comparison of Swyftx vs Bitbuy [ 2024 ]

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

Your expert: Alejandro Borja

Swyftx

Swyftx

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

bitbuy

Bitbuy

  • Threenvest valuation: 3,9/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

≈ 0,06%

Earns

No

Customer service

4/5
0.20%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with strong local support in Australia and New Zealand.
3.7 – Reasonable fees but slightly higher for fiat transactions.

Level

≈ 0,06%
0.20%

Brief explanation

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.
Bitbuy’s commission structure is designed to be transparent and competitive within the Canadian market. The exchange typically charges a 0.1% fee for makers, who add liquidity to the market, and a slightly higher fee for takers, who remove liquidity. This fee structure is beneficial for both high-volume traders and occasional users, ensuring that costs are kept reasonable without compromising the quality of service. Additional charges include withdrawal fees, which vary depending on the cryptocurrency, and minimal to no deposit fees, emphasizing Bitbuy’s commitment to providing a cost-effective trading environment for its users.

Swyftx

Swyftx
Read Swyftx review
  • 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.
  • Pros
  • User-friendly interface
  • Extensive cryptocurrency support
  • Competitive trading fees
  • Cons
  • Limited international availability
  • Higher market spread

Read Swyftx review

Bitbuy

bitbuy
Read Swyftx review
  • Security Methods: Bitbuy prioritizes the security of its users with robust measures including SSL encryption, two-factor authentication (2FA), and compliance with PCI DSS standards. This commitment to security ensures that users' funds and personal information are well protected against unauthorized access and cyber threats.
  • Possible Regulation: Bitbuy operates with full compliance with Canadian financial regulations. Being a registered Money Service Business (MSB) under FINTRAC, it adheres to the legal requirements set forth for financial platforms, enhancing its reliability and trustworthiness.
  • Reputation and Reviews: Bitbuy has built a strong reputation within the Canadian crypto community and beyond. It consistently receives positive reviews from users, particularly praising its user-friendly interface and responsive customer service, underscoring its standing as a trusted platform in the market.
  • Transparency: The exchange is known for its transparent operations, providing clear information about its fees, processes, and operations. This transparency builds trust among users, ensuring they feel informed and confident in their trading decisions on the platform.
  • Customer Service: Bitbuy offers excellent customer service, with a dedicated support team available to address and resolve users’ issues promptly. This focus on customer satisfaction is crucial for building long-term trust and ensuring that users have a reliable resource for any inquiries or problems they might encounter.
  • Pros
  • Strong regulatory compliance in Canada.
  • User-friendly interface for beginners.
  • Robust, effective security measures.
  • Cons
  • Relatively high trading fees.
  • Limited selection of cryptocurrencies.

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Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Swyftx Pty Ltd.
First Ledger Corporation

Regulation

Regulated in Australia
Regulated by FINTRAC en Canadá

Year founded

2017
2016

Founder

Alex Harper
Adam Goldman

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Swyftx FEATURES Bitbuy
Swyftx allows for relatively low minimum trades, making it accessible for beginners who wish to start small.
Minimum Trade
The minimum trade amount is reasonably low, making it accessible for beginners.
The platform has competitive fees, lower than many of its local competitors, though slightly higher than global exchanges.
Trading and Transaction Fees
Fees are relatively high compared to competitors, which could deter frequent traders.
Swyftx offers a wide selection of cryptocurrencies, catering to traders interested in both popular and less-known coins.
Number of Cryptocurrencies
Bitbuy offers a selection of the most popular cryptocurrencies but lacks a wide variety of altcoins.
Offers a robust range of trading pairs, enabling flexible trading strategies across various digital assets.
Crypto-to-Crypto Trading Pairs
Limited to major cryptocurrencies, lacking diversity in trading pairs.
The Swyftx website provides clear, detailed information on fees, policies, and trading options, aiding users in making informed decisions.
Website Transparency
The website provides clear, easily accessible information on fees, policies, and trading options.
The Swyftx crypto debit card seamlessly converts cryptocurrencies to fiat for easy everyday transactions, with added benefits such as reward points on purchases.
Credit/Debit Card
Bitbuy lacks an exchange card, limiting its utility for in-store purchases and additional benefits.
Provides secure storage options, though it’s always recommended users keep large amounts in personal wallets for added security.
Storage Offering
Provides secure cold storage options, ensuring safety for digital assets.
Offers staking options but with fewer choices and rewards compared to leading competitors.
Staking and Rewards
Offers some staking options and rewards, though not as extensive as some other platforms.
Both mobile and desktop platforms are highly rated for their user-friendly interfaces and functionality.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and well-designed.
Generally responsive and helpful customer service, but peak times can see slower responses.
Customer Service
Excellent customer service with quick response times and helpful support staff.
Deposits and withdrawals are generally efficient, though some users report delays during high-demand periods.
Deposit and Withdraw
Efficient deposit and withdrawal processes, though some limitations apply to methods and currencies.

Key features

Analysis tools

Advanced charting tools, technical analysis
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
High 4,6/5

Additional features

Staking, fiat on/off ramps, Swyftx Earn, demo mode
OTC trading, express trade option, institutional services, cold storage solutions

Anonymity

No
No

Key points

Available cryptocurrencies

300+
15+

User-friendliness

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.
Bitbuy offers a clean and intuitive platform that is easy to navigate, making it suitable for beginners. The exchange provides helpful guides and customer support to assist new users in their trading journey.

Value for money

Delivers good value for money with competitive fees and strong local support in Australia, making it a good choice for regional users.
Delivers decent value for money with competitive fees and strong security features, suitable for Canadian users looking for a reliable exchange.

Countries of operation

Australia, New Zealand
Canada

Best for

Best for Australian and New Zealand investors looking for a user-friendly platform with competitive fees and strong local support.
Best for Canadian investors seeking a reliable and secure exchange with competitive fees and strong customer support.

Base currencies available

AUD, BTC
CAD, BTC

Account

Trading

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.
Bitbuy is a Canadian exchange known for its high security and ease of use. It offers a decent selection of cryptocurrencies but has higher fees compared to some other global exchanges.

Deposit and withdrawal

Swyftx is popular in Australia, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
Bitbuy provides easy fiat and cryptocurrency deposit methods. Withdrawals are processed within a day. Fees are slightly higher than some global exchanges but reasonable.

Account opening process

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.
Bitbuy offers a simple and user-friendly account opening process. Users need to fill out personal information, verify their identity, and typically, the account is approved within a day. It’s secure and efficient.

KYC required?

Yes
Yes

Customer Service

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.
Bitbuy offers customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a drawback for some users.

Security

Swyftx ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.
Bitbuy offers robust security with 2FA, SSL encryption, and cold storage. It is regulated by Canadian authorities, ensuring high security for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

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.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I highly recommend Bitbuy for Canadian users looking for a secure and user-friendly platform to begin their cryptocurrency trading journey. While it does have higher trading fees and a somewhat limited range of cryptocurrencies, its strong regulatory compliance, excellent customer service, and transparent operations make it a trustworthy choice. For those prioritizing security and ease of use, Bitbuy is definitely worth considering.

View all comparisons against Swyftx

View all comparisons against Bitbuy

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.

More comparatives Swyftx and Bitbuy