Comparison of Gate.Io vs Swyftx [ 2024 ]

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

Your expert: Alejandro Borja

Gate.Io

Your expert: Xavier Tarrasó

Swyftx

Main points

Fees

0,20%

Earns

Customer service

4/5

≈ 0,06%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.

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

Level

0,20%

≈ 0,06%

Brief explanation

Gate.io offers a competitive and transparent fee structure. The platform charges a flat trading fee of 0.2% for both makers and takers, which is slightly below the industry average of around 0.25%. This flat fee structure simplifies the cost calculation for users, regardless of their trading volume. For high-volume traders, Gate.io offers a tiered fee discount system. Users who hold the platform’s native token, GateToken (GT), and opt to pay fees with it can receive up to a 25% discount on trading fees. Additionally, purchasing GT points or reaching higher VIP levels through increased trading volumes can further reduce fees, with potential discounts ranging from 30% to 70%. Deposits on Gate.io are free of charge, which is a significant advantage for users. However, withdrawal fees vary depending on the cryptocurrency being withdrawn. For example, the fee for withdrawing Bitcoin is 0.0005 BTC, which is competitive compared to the industry average. While Gate.io does not support fiat withdrawals, it allows users to deposit fiat currencies through third-party services like Banxa, MoonPay, and Simplex. These services charge their own fees, which can be relatively high. Overall, Gate.io’s fee structure is designed to be fair and transparent, catering to both casual traders and high-volume users with various discount options and competitive withdrawal fees.

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.

Gate.Io

Year Founded: Gate.io was founded in 2013, making it one of the older cryptocurrency exchanges. Its longevity in the market indicates a level of stability and experience in handling crypto assets.
Customer Service: The platform offers 24/7 customer support via live chat, email, and support tickets. While there have been mixed reviews regarding response times, the availability of multiple support channels is a positive aspect for users needing assistance.
Number of Users: The exchange has a substantial user base, with millions of registered users. This large user base reflects the platform's popularity and trustworthiness among crypto traders.
Trading Volume and Liquidity: Gate.io is known for its high trading volume and liquidity, ranking among the top exchanges globally. This high volume ensures that users can easily buy and sell assets without significant price slippage.
Security Methods: Gate.io employs robust security measures, including cold storage for the majority of user funds, two-factor authentication, and SSL encryption. These measures are designed to protect user assets and personal information from potential breaches.

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

Token GT (GateToken)

Earns

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Gate Technology Inc.

Swyftx Pty Ltd.

Regulation

Not regulated

Regulated in Australia

Year founded

2013

2017

Founder

Lin Han

Alex Harper

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Gate.Io	FEATURES	Swyftx
Minimum trade size is $10, making it accessible for small investors.	Minimum Trade	Swyftx allows for relatively low minimum trades, making it accessible for beginners who wish to start small.
Flat fee of 0.2% for both makers and takers, competitive in the industry.	Trading and Transaction Fees	The platform has competitive fees, lower than many of its local competitors, though slightly higher than global exchanges.
Over 1,400 cryptocurrencies available, providing extensive trading options.	Number of Cryptocurrencies	Swyftx offers a wide selection of cryptocurrencies, catering to traders interested in both popular and less-known coins.
Supports a wide range of trading pairs, enhancing trading flexibility.	Crypto-to-Crypto Trading Pairs	Offers a robust range of trading pairs, enabling flexible trading strategies across various digital assets.
Good security measures but lacks full transparency in some areas.	Website Transparency	The Swyftx website provides clear, detailed information on fees, policies, and trading options, aiding users in making informed decisions.
Gate.io does not currently offer its own exchange card for customers to use for in-store purchases and receive benefits.	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.
Utilizes both hot and cold storage, with the majority of funds kept offline.	Storage Offering	Provides secure storage options, though it’s always recommended users keep large amounts in personal wallets for added security.
Offers various staking and earning opportunities with competitive returns.	Staking and Rewards	Offers staking options but with fewer choices and rewards compared to leading competitors.
Robust mobile app available on iOS and Android, well-rated for Android users but mixed reviews for iOS.	Mobile App and Desktop	Both mobile and desktop platforms are highly rated for their user-friendly interfaces and functionality.
Provides 24/7 support via live chat and email, though response times and quality vary.	Customer Service	Generally responsive and helpful customer service, but peak times can see slower responses.
Crypto deposits are free; withdrawal fees vary by asset, no fiat withdrawals supported.	Deposit and Withdraw	Deposits and withdrawals are generally efficient, though some users report delays during high-demand periods.

Key features

Analysis tools

Advanced charting tools, technical indicators

Advanced charting tools, technical analysis

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, futures trading, staking, Gate.io Earn

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

Anonymity

Yes

Key points

Available cryptocurrencies

800+

300+

User-friendliness

Features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides a seamless trading experience with essential features easily accessible.

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

Delivers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

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

Global, including United States, Canada, United Kingdom, Australia, Germany

Australia, New Zealand

Best for

Suitable for traders of all experience levels looking for a platform with a wide range of cryptocurrencies and 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

USD, BTC, USDT

AUD, BTC

Account

Trading

Gate.io offers a wide range of cryptocurrencies and advanced trading tools. It has competitive fees but can be complex for beginners.

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

Gate.io supports a wide range of deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with competitive fees.

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

Account opening process

Gate.io provides a seamless account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within 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

Gate.io provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

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

Gate.io provides extensive security measures, including 2FA and cold storage. It is not regulated by major financial authorities, which might be a concern for some 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 in cryptocurrency exchanges, I highly recommend Gate.io for its comprehensive trading features and extensive selection of cryptocurrencies. With over 1,400 coins and a wide range of trading pairs, Gate.io offers excellent opportunities for diversifying your investment portfolio. The platform’s robust security measures, including cold storage and two-factor authentication, provide peace of mind for users concerned about the safety of their assets. While the interface may be complex for beginners, its advanced tools make it a powerful choice for experienced traders. Despite some limitations with fiat support, the competitive fees and strong liquidity make Gate.io a top choice for serious cryptocurrency enthusiasts.

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.