Comparison of Bitmart vs Swyftx [ 2024 ]

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

Your expert: Alejandro Borja

bitmart

Bitmart

  • Threenvest valuation: 4,2/5
  • US legal: Yes
  • Security: High 4,9/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

Swyftx

Swyftx

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

Investing risks losing your money

Main points

Fees

0.09%/0,25%

Earns

Yes

Customer service

3/5
≈ 0,06%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Reasonable fees with some additional costs for specific services.
4.0 – Competitive fees with strong local support in Australia and New Zealand.

Level

0.09%/0,25%
≈ 0,06%

Brief explanation

BitMart’s commission structure is designed to be competitive within the cryptocurrency exchange market. The platform utilizes a tiered fee system based on trading volume, which encourages more frequent trading by reducing costs for high-volume traders. Generally, the fees for makers, who add liquidity to the market, are lower than for takers, who take liquidity away. This fee structure not only supports liquidity but also rewards users who contribute to the market dynamics. While specific percentages vary, they are kept transparent on the platform, ensuring traders can plan their transactions with clarity regarding potential 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.

Bitmart

bitmart
Read bitmart review
  • Security Methods: BitMart employs comprehensive security measures to protect user assets and data. These include two-factor authentication, advanced encryption technology, and the majority of funds held in cold storage. These stringent security protocols demonstrate BitMart's commitment to maintaining a secure trading environment.
  • Reputation and Reviews: BitMart has built a solid reputation within the crypto community for its robust platform and reliable service. Positive user reviews frequently highlight the platform's user-friendly interface and the wide variety of trading options available, reinforcing its standing in the market.
  • Trading Volume and Liquidity: BitMart handles a significant volume of daily trades, ensuring high liquidity across its various trading pairs. This high trading volume is indicative of a vibrant marketplace that allows users to execute trades efficiently without substantial price slippage.
  • Year Founded: Established in 2017, BitMart has several years of operation under its belt, during which it has continuously evolved and improved its offerings. This longevity in the fast-paced world of cryptocurrency exchanges speaks to its resilience and the trust placed in it by its users.
  • Customer Service: While there have been challenges with response times, BitMart's dedication to improving its customer service is evident. They are actively working to enhance their support mechanisms to provide timely and effective help to their users, which is a critical component of user trust and satisfaction.
  • Pros
  • Extensive cryptocurrency selection.
  • Competitive trading fee structure.
  • Strong security measures implemented.
  • Cons
  • Past security breaches reported.
  • Customer support response delays.

Read bitmart review

Swyftx

Swyftx
Read bitmart 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

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

GBM Foundation Company
Swyftx Pty Ltd.

Regulation

Not regulated
Regulated in Australia

Year founded

2017
2017

Founder

Sheldon Xia
Alex Harper

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Bitmart FEATURES Swyftx
BitMart offers a relatively low minimum trade amount, making it accessible for beginners to start trading without significant capital.
Minimum Trade
Swyftx allows for relatively low minimum trades, making it accessible for beginners who wish to start small.
Fees are competitive, but could be improved to match lower rates offered by some other exchanges.
Trading and Transaction Fees
The platform has competitive fees, lower than many of its local competitors, though slightly higher than global exchanges.
BitMart supports a wide array of cryptocurrencies, providing users with a diverse range of trading options.
Number of Cryptocurrencies
Swyftx offers a wide selection of cryptocurrencies, catering to traders interested in both popular and less-known coins.
Offers a substantial number of crypto-to-crypto trading pairs, allowing for versatile trading strategies.
Crypto-to-Crypto Trading Pairs
Offers a robust range of trading pairs, enabling flexible trading strategies across various digital assets.
The website provides essential information; however, more detailed disclosures about security practices and fund management could enhance transparency.
Website Transparency
The Swyftx website provides clear, detailed information on fees, policies, and trading options, aiding users in making informed decisions.
BitMart does not 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.
Provides secure storage options with the majority of assets held in cold storage, though past security breaches have impacted their score.
Storage Offering
Provides secure storage options, though it’s always recommended users keep large amounts in personal wallets for added security.
Offers competitive staking options and rewards, appealing to users looking to earn through their crypto assets.
Staking and Rewards
Offers staking options but with fewer choices and rewards compared to leading competitors.
Both mobile and desktop platforms are highly user-friendly and feature-rich, providing a seamless trading experience.
Mobile App and Desktop
Both mobile and desktop platforms are highly rated for their user-friendly interfaces and functionality.
Customer support is available, but response times can be slow. More resources towards improving service responsiveness are needed.
Customer Service
Generally responsive and helpful customer service, but peak times can see slower responses.
BitMart offers multiple deposit and withdrawal methods, but improvements could be made in processing times and fee structures for withdrawals.
Deposit and Withdraw
Deposits and withdrawals are generally efficient, though some users report delays during high-demand periods.

Key features

Analysis tools

Basic charting tools, some advanced features for futures
Advanced charting tools, technical analysis

Mobile APP

Yes
No

Security

High 4,9/5
High 4,6/5

Additional features

Futures trading, staking, lending services, BitMart token (BMX) rewards
Staking, fiat on/off ramps, Swyftx Earn, demo mode

Anonymity

Yes
No

Key points

Available cryptocurrencies

200+
300+

User-friendliness

BitMart features an easy-to-use platform with a simple interface that is suitable for beginners. The exchange provides a seamless trading experience with all necessary 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

Provides good value for money with low trading fees and a diverse range of supported cryptocurrencies, making it a cost-effective 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

United States, South Korea, Japan, China, Singapore
Australia, New Zealand

Best for

Suitable for traders of all experience levels who want access to a diverse range of cryptocurrencies and low trading 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, ETH, USDT
AUD, BTC

Account

Trading

BitMart is a global exchange with a good variety of cryptocurrencies and competitive fees. It offers advanced trading options but has faced some security and regulatory challenges.
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

BitMart provides diverse deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, typically within a day. Fees are reasonable, enhancing user experience.
Swyftx is popular in Australia, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

BitMart offers an easy and fully digital account opening process. Users need to provide personal details and verify their identity. The process is usually quick, taking less than a day to complete.
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
Yes

Customer Service

BitMart provides support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support can be inconvenient for users needing immediate 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

BitMart provides strong security with 2FA, SSL encryption, and cold storage. However, it lacks regulation from 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-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend BitMart for traders who value a wide selection of cryptocurrencies and robust trading platforms. While the exchange offers strong security measures and diverse trading options, potential users should be aware of the historical security breaches and occasionally slow customer service. Overall, BitMart provides a user-friendly experience with competitive trading fees, making it a solid choice for both beginners and experienced traders looking to expand their crypto portfolios.
Xavier-tarraso-mascarell.jpg

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.

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