Comparison of Swyftx vs Bydfi [ 2024 ]

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

bydfi

Bydfi

  • Threenvest valuation: 3,9/5
  • US legal: Yes
  • 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
0,10%/0,30%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

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.
4.0 – Competitive fees with additional benefits for copy trading.

Level

≈ 0,06%
0,10%/0,30%

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.
Bydfi’s commission structure is designed to be transparent and competitive, catering to both novice and experienced traders. The trading fees are based on a tiered structure that decreases as your trading volume increases, making it more attractive for high-volume traders. This approach not only encourages more frequent and higher volume trading but also ensures that traders can maximize their returns by reducing costs as they scale up their trading activities. For specific transactions, Bydfi charges a nominal fee, which is clearly outlined on their platform, ensuring that users are fully aware of the costs associated with their trading activities. This straightforward fee system is part of Bydfi’s commitment to providing a transparent trading environment.

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

Bydfi

bydfi
Read Swyftx review
  • Year Founded and Stability: Bydfi was established with a clear vision to provide secure and accessible cryptocurrency trading options, rapidly earning a reputation for reliability and user satisfaction.
  • Reputation and Reviews: Bydfi is highly regarded within the crypto community, reflected through positive user reviews and ratings. Its commitment to user satisfaction and continuous improvement of its trading environment have contributed to its strong reputation.
  • Security Methods: Bydfi employs advanced security measures including two-factor authentication, cold storage solutions for the majority of assets, and ongoing security audits, ensuring a robust defense against potential cyber threats.
  • Customer Service: Bydfi offers round-the-clock customer support through multiple channels including live chat, email, and a comprehensive FAQ section. This responsiveness and accessibility demonstrate its dedication to providing a seamless user experience.
  • Volume Managed and Liquidity: Bydfi handles a significant trading volume, offering high liquidity which ensures that trades are executed swiftly and at predictable prices, making it a dependable platform for both high-frequency traders and casual investors.
  • Pros
  • User-friendly interface.
  • Robust security protocols.
  • Wide cryptocurrency selection.
  • Cons
  • Higher transaction fees.
  • Limited customer support.

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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.
Unknown

Regulation

Regulated in Australia
Not regulated

Year founded

2017
Unknown

Founder

Alex Harper
Unknown

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Swyftx FEATURES Bydfi
Swyftx allows for relatively low minimum trades, making it accessible for beginners who wish to start small.
Minimum Trade
Bydfi offers a low minimum trade requirement, making it accessible for beginners and those looking to start with smaller amounts.
The platform has competitive fees, lower than many of its local competitors, though slightly higher than global exchanges.
Trading and Transaction Fees
Bydfi maintains competitive trading fees, which are lower than many of its competitors, providing cost-effective trading options.
Swyftx offers a wide selection of cryptocurrencies, catering to traders interested in both popular and less-known coins.
Number of Cryptocurrencies
Bydfi supports over 100 cryptocurrencies, which is impressive but falls short of the variety offered by some top exchanges.
Offers a robust range of trading pairs, enabling flexible trading strategies across various digital assets.
Crypto-to-Crypto Trading Pairs
Offers a robust selection of trading pairs, enabling versatile trading strategies.
The Swyftx website provides clear, detailed information on fees, policies, and trading options, aiding users in making informed decisions.
Website Transparency
The Bydfi website provides clear and comprehensive information about trading procedures and fees, though some users might seek more in-depth details on certain operational aspects.
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
An exchange card is absent, which limits convenience for everyday transactions.
Provides secure storage options, though it’s always recommended users keep large amounts in personal wallets for added security.
Storage Offering
Offers excellent storage solutions with robust security measures, including cold storage options for the majority of assets.
Offers staking options but with fewer choices and rewards compared to leading competitors.
Staking and Rewards
Provides opportunities for staking and earning rewards, though the options and returns are not as extensive as some might prefer.
Both mobile and desktop platforms are highly rated for their user-friendly interfaces and functionality.
Mobile App and Desktop
The Bydfi mobile app and desktop platforms are highly rated for their user-friendly interfaces and reliability.
Generally responsive and helpful customer service, but peak times can see slower responses.
Customer Service
Customer service is available around the clock, but response times can vary, affecting user experience especially in urgent situations.
Deposits and withdrawals are generally efficient, though some users report delays during high-demand periods.
Deposit and Withdraw
Bydfi offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies, with generally quick processing times.

Key features

Analysis tools

Advanced charting tools, technical analysis
Basic tools for derivatives trading

Mobile APP

No
No

Security

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

Additional features

Staking, fiat on/off ramps, Swyftx Earn, demo mode
Copy trading, futures trading, staking, Bydfi Academy

Anonymity

No
Yes

Key points

Available cryptocurrencies

300+
Limited, derivatives focused

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.
Bydfi provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making the trading process smooth and efficient.

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.
Provides reasonable value for money with competitive fees and a user-friendly interface, making it a good choice for beginners.

Countries of operation

Australia, New Zealand
United States, Canada, United Kingdom, Australia, Singapore

Best for

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

Base currencies available

AUD, BTC
USDT (for derivative products)

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.
BYDFi (formerly Bybit) focuses on derivatives trading with high leverage options. It is ideal for experienced traders but can be risky and complex for newcomers.

Deposit and withdrawal

Swyftx is popular in Australia, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
BYDFi (formerly Bybit) focuses on cryptocurrency deposits and withdrawals. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.

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.
BYDFi (formerly Bybit) provides an easy and fast account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes
No

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.
BYDFi (formerly Bybit) offers support through email and live chat. The support team is responsive, and support is available 24/7, making it convenient for users needing immediate help.

Security

Swyftx ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.
BYDFi (formerly Bybit) ensures security with 2FA, encryption, and cold storage. Despite its strong security measures, it is not regulated by top-tier financial authorities, which could be a concern for some 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 one of the seasoned experts at Threenvest, I personally find Bydfi to be an appealing choice for both new and experienced cryptocurrency traders. The platform’s user-friendly interface makes it accessible for newcomers, while its robust security measures provide peace of mind, crucial for safeguarding investments in the often volatile crypto market. From my experience, Bydfi’s competitive fees and diverse range of cryptocurrencies cater effectively to diverse trading strategies, ensuring that both speculative traders and long-term investors can find value. If you’re seeking an exchange that combines usability with a strong focus on security, Bydfi certainly deserves your consideration.

View all comparisons against Swyftx

View all comparisons against Bydfi

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.

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