Comparison of Swyftx vs Safetrade [ 2024 ]

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

safetrade

Safetrade

  • Threenvest valuation: 2/5
  • US legal: No
  • Security: Low 2/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

≈ 0,06%

Earns

No

Customer service

4/5
≈ 0,10%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

No

Trading

Yes

Passive income

No

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with strong local support in Australia and New Zealand.
3.9 – Competitive fees with additional benefits for high-volume trading.

Level

≈ 0,06%
≈ 0,10%

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.
SafeTrade implements a flat fee model for its trading activities, charging a uniform 0.1% fee for both makers and takers on all trades. This rate is appealingly lower than the industry average, which often hovers around 0.25%. This straightforward, low-cost fee structure makes SafeTrade an attractive option for traders looking to maximize their returns without the burden of high transaction costs. Additionally, it’s worth noting that there are no deposit fees on SafeTrade, which further reduces the cost for users to start trading. However, traders should be aware that while the trading fees are low, the lack of regulatory oversight might introduce risks that are typically mitigated on more stringently regulated platforms. Thus, while the fee structure is economically advantageous, it comes with considerations that should be carefully weighed.

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

Safetrade

safetrade
Read Swyftx review
  • Security Methods: SafeTrade emphasizes security with comprehensive measures to protect user data and funds. This focus on security helps in building trust with its users.
  • Transparency: The platform's operations are characterized by a high degree of transparency, especially concerning its integration with the SafeCoin projects and community feedback mechanisms. This openness is a critical trust factor.
  • Trading Volume and Liquidity: SafeTrade handles a significant amount of trading volume, ensuring liquidity for its users, which is essential for executing trades efficiently without substantial price slippage.
  • Customer Service: The exchange offers 24/7 customer support, which is a substantial trust factor for users, especially in a market that operates round the clock. Reliable support is crucial for resolving issues swiftly.
  • Reputation and Reviews: Since its launch, SafeTrade has maintained a positive reputation within the community, supported by favorable reviews from its users. This reputation is a testament to the platform's reliability and service quality.
  • Pros
  • Low trading fees.
  • Supports 48 cryptocurrencies.
  • Community-driven platform.
  • Cons
  • Not regulated.
  • No fiat trading options.

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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
2018

Founder

Alex Harper
Unknown

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Swyftx FEATURES Safetrade
Swyftx allows for relatively low minimum trades, making it accessible for beginners who wish to start small.
Minimum Trade
SafeTrade allows trading in small quantities, but specifics about minimum trade sizes vary by cryptocurrency, which can be confusing for new users.
The platform has competitive fees, lower than many of its local competitors, though slightly higher than global exchanges.
Trading and Transaction Fees
SafeTrade charges a flat fee of 0.1% for all trades, significantly lower than the industry average, making it very cost-effective.
Swyftx offers a wide selection of cryptocurrencies, catering to traders interested in both popular and less-known coins.
Number of Cryptocurrencies
Supports 48 cryptocurrencies, which is robust but still fewer than some of the larger exchanges that offer hundreds.
Offers a robust range of trading pairs, enabling flexible trading strategies across various digital assets.
Crypto-to-Crypto Trading Pairs
Offers a variety of trading pairs, predominantly crypto-to-crypto, which caters well to a diverse trading base but lacks fiat options.
The Swyftx website provides clear, detailed information on fees, policies, and trading options, aiding users in making informed decisions.
Website Transparency
The website provides essential information, yet could improve by offering more detailed insights about liquidity and security measures.
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
Lack of a dedicated exchange card limits the practical usability of SafeTrade’s services for everyday transactions and rewards.
Provides secure storage options, though it’s always recommended users keep large amounts in personal wallets for added security.
Storage Offering
Offers secure storage solutions, but lacks some advanced features like insurance or diverse wallet options.
Offers staking options but with fewer choices and rewards compared to leading competitors.
Staking and Rewards
Limited information and options for staking and rewards compared to competitors who offer varied staking benefits and rewards.
Both mobile and desktop platforms are highly rated for their user-friendly interfaces and functionality.
Mobile App and Desktop
Provides functional and user-friendly mobile and desktop interfaces, though there’s room for further enhancements in usability and features.
Generally responsive and helpful customer service, but peak times can see slower responses.
Customer Service
Offers 24/7 customer support with good service levels, but feedback suggests there could be improvements in response times and resolution efficiency.
Deposits and withdrawals are generally efficient, though some users report delays during high-demand periods.
Deposit and Withdraw
Deposits and withdrawals are facilitated smoothly for cryptocurrencies, yet the absence of direct fiat transactions and limited information on fees for these processes affect the rating.

Key features

Analysis tools

Advanced charting tools, technical analysis
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
Low 2/5

Additional features

Staking, fiat on/off ramps, Swyftx Earn, demo mode
Margin trading, staking, SafeTrade Earn, fiat on/off ramps

Anonymity

No
Yes

Key points

Available cryptocurrencies

300+
20+

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.
SafeTrade offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

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 decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

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

Best for

Best for Australian and New Zealand investors looking for a user-friendly platform with competitive fees and strong local support.
Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

AUD, BTC
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.
SafeTrade offers a secure platform with a decent range of cryptocurrencies. It has competitive fees but lower liquidity compared to larger exchanges.

Deposit and withdrawal

Swyftx is popular in Australia, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
SafeTrade supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

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.
SafeTrade provides a straightforward account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

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.
SafeTrade provides support through email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation 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.
SafeTrade employs robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might 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 experts reviewing exchanges on our website, I find SafeTrade to be a particularly interesting choice for those venturing into the cryptocurrency market. It stands out with its low trading fees of only 0.1% across all trades, which is significantly lower than many other platforms. This feature alone makes it an attractive option for both seasoned traders and newcomers who are sensitive to cost. Furthermore, SafeTrade’s community-driven approach adds a layer of transparency and support that is not often seen in the exchange space. This feature should particularly appeal to users who value a collaborative and open environment. However, it’s crucial to note that SafeTrade is not regulated by any top-tier financial authority, which might be a concern for those prioritizing security and compliance. Overall, if you’re looking for a cost-effective platform and are comfortable with the level of regulatory oversight, SafeTrade could be a solid choice.

View all comparisons against Swyftx

View all comparisons against Safetrade

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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