Swyftx vs CoinJar: Which Should You Choose?

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Quick Verdict

CoinJar and Swyftx are two of Australia’s best cryptocurrency exchanges. The former was one of the first local crypto exchanges available to Australians and has built a long-standing reputation for excellent service. Swyftx is a newer exchange that lists 100+ more coins than CoinJar and is packed with more features. If you want to build a crypto portfolio then you can’t go wrong with either exchange. However, in terms of user experience, more coins to invest, cheaper fees, and the ability to earn interest on crypto, Swyftx is the clear winner.

Swyftx vs Coinjar Compared

	Swyftx	Coinjar
Website	https://www.hedgewithcrypto.com/go/swyftx/	https://www.hedgewithcrypto.com/go/coinjar
Promotion	$20 Bitcoin for creating a verified account	None available at this time
Fiat Currency	AUD, USD	AUD, EUR & GBP
Supported Cryptocurrency	320+	BTC, ETH, USDT and 50+ more
Max. Trading Fee	0.6%	1% to instant buy/sell, 0.1% on CoinJar Exchange
Overall Rating	HedgewithCrypto Score 4.9 / 5 We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. Visit Swyftx	HedgewithCrypto Score 4.0 / 5 We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. Visit Coinjar
Review	Read our full Swyftx Review	Read our full Coinjar Review

Swyftx is one of Australia’s leading cryptocurrency exchanges. It was launched to the public in 2019 after years of development by founders Alex Harper and Angus Goldman. The platform has since provided an easy on-ramp to cryptocurrency trading for over 660,000 users.

Swyftx is a registered financial services provider with Australia’s financial regulator, ASIC, as well as AUSTRAC. This means Swyftx can provide basic cryptocurrency and financial services to Australian residents while abiding by AML, CTF, and KYC requirements.

Read our full review on Swyftx.

CoinJar has amassed 600,000+ registered accounts on its platform, founded in 2013. CoinJar is a registered financial services provider with ASIC and AUSTRAC and has a reputation for excellent security, customer support, and trustworthiness. It is one of the oldest cryptocurrency exchanges in Australia but has remained a relatively small operation compared to the international heavy hitters.

The company has a mission to make cryptocurrencies like Bitcoin accessible to everyone. Its platform is designed with ease of use as a top priority. This has resulted in a relative lack of features compared to some other exchanges like Swyftx but makes it a breeze to navigate for users looking to build a portfolio by investing in cryptocurrencies.

Read our full review on CoinJar.

Comparison of Features, Products & Services

Swyftx and CoinJar are both Australian-based crypto exchanges that focus on providing a simple and accessible way to build a portfolio. CoinJar has fewer features available than Swyftx, but still provides various services that will suit some investors. Here is a side-by-side comparison of the best features of both exchanges.

Swyftx vs CoinJar: Supported Countries

Swyftx only services countries from the Oceania region – Australia and New Zealand. As an Aussie exchange, the platform (particularly customer service hours) is focused on Australian residents. However, the business has plans to expand into the UK and Canada shortly.

On the other hand, CoinJar has a wider international presence. Theoretically, residents of any country (assuming they haven’t outlawed crypto) can use the platform for sending and receiving digital currency. Integrating fiat currency, however, requires a regulatory license. CoinJar only provides this service for Australians and British citizens.

Swyftx vs CoinJar: Deposit & Withdrawal Methods

Swyftx is one of the most accessible exchanges regarding deposit and withdrawal methods. The platform supports free and instant AUD deposits from pretty much every bank account using PayID/Osko/POLi transfers. Customers can also buy crypto in Australia using credit/debit cards for fast deposits, however, the third-party processing fee is 3.6%. Fiat withdrawals are free and can be made via bank transfer. Crypto withdrawals will incur a standard network fee (gas).

On the other hand, CoinJar supports basic Australian deposit methods, such as bank transfer and PayID. PayID and bank deposits using AUD are free. CoinJar also accepts Blueshyft payments and is one of only a few Australian exchanges to offer this service. Blueshyft is a third-party provider that allows residents to buy crypto with physical cash at a local newsagent. This will incur a 1.5% fee.

Customers can also instantly buy cryptocurrency using Visa/MasterCard and Google/Apple Pay. This purchase method will cost 2% in fees, which is cheaper than other platforms. There is no minimum deposit limit. Withdrawals can be made via bank transfer for free, while cryptocurrency withdrawals to an external wallet will cost a variable network fee.

Swyftx vs CoinJar: Supported Cryptocurrencies

Swyftx has an excellent selection of altcoins and more obscure digital assets. There are over 320 cryptocurrencies that can be purchased with AUD, sold, and swapped between on the exchange. This includes all the basic coins such as BTC, ETH, LTC, DOGE, SHIB, and a variety of stablecoins. Investors who want to get their hands on new coins gaining traction will likely find them within a few weeks on Swyftx.

CoinJar only provides a modest range of cryptocurrency options. There are only 50+ crypto pairs available, which cover BTC, ETH and XRP. The selection of altcoins is decent, including popular options like Polkadot and Litecoin, but falls well short of Swyftx. Some notable coins that are missing include Binance Coin, ApeCoin, Tron, Cosmos and UNUS SED LEO.

Swyftx vs CoinJar: Ease of Use

Swyftx has come a long way in the last few years and is now one of Australia’s most easy-to-use platforms. Swyftx’s interface is straightforward and accessible to all of the exchange’s important features is just a click or two away. By merit of having many features, navigating Swyftx can be slightly overwhelming for beginners.

In particular, the dashboard looks a little messy at first glance. There may be a little learning curve for new Swyftx users to get used to the exchange’s layout. However, the dashboard is easily customizable, and it’s generally a breeze for investors to find whatever they need on the platform. Swyftx’s crypto demo mode is also a perfect way for users to learn about trading crypto without risking any capital.

Similarly, CoinJar generally targets the general public, and the platform’s simple design flow reflects this. Notably, the development team overhauled the platform’s original, outdated user interface and brought it up to speed with other competitors. CoinJar boasts a streamlined experience that will take users little time to grow accustomed to. Users can easily determine where to deposit AUD, buy new cryptocurrencies, and view their assets.

Where CoinJar falls a little is in the account management department. Viewing and altering account settings (such as 2FA, password changing, and transaction history) isn’t quite as streamlined as it could be.

Swyftx vs CoinJar: Trading Fees

Swyftx is renowned in the Australian community for its fees. What makes Swyftx a standout performer in this area isn’t just its cost-effectiveness – but its transparency. Very few crypto platforms will publicly disclose their spreads (the difference between an asset’s buy and sell price). These “hidden fees” can quickly rack up to over 2%. Swyftx has a flat trading fee of 0.6% and spreads as low as 0.45%. Before customers make a transaction, they can see the exact cost they will be paying – including both the transaction fee and the spread.

On the other hand, CoinJar has a tiered fee structure. The exchange offers “Instant Buys” on the main platform at 1% per transaction. This includes swapping one crypto for another or converting fiat (AUD) to crypto and vice versa. CoinJar has a separate platform known as CoinJar Exchange, with much cheaper fees intended for higher-volume traders. These fees start at 0.1% but lack liquidity for frequent or high-net-worth investors.

Swyftx vs CoinJar: Mobile App

Swyftx boasts one of the best apps for Australians to buy and sell crypto on the go. The company has designed a cutting-edge platform that offers users up-to-date data on their digital assets, a wide range of functionalities, and flawless performance. Importantly, Swyftx’s mobile app includes every feature available on its desktop platform. Users can make trades, earn interest on their balances, or set up recurring orders all from the palm of their hand. The smartphone app is available on both the Apple iOS Store (4.6/5 rating) and the Google Play Store (100k+ downloads).

CoinJar’s mobile app is another excellent way for Australians to maneuver the crypto market while away from their PC. The smartphone app is a fair bit less popular than Swyftx’s and receives slightly fewer updates. However, the support team is vigilant in responding to customer reviews and is dedicated to improving each user’s experience.

A pro that CoinJar’s app possesses over the competition is that it allows users to manage their CoinJar debit card. This way, it becomes incredibly easy to spend with, as customers can simply tap their phone to pay for goods. They can also deposit funds while on the move.

Swyftx vs CoinJar: Security

Swyftx implements security measures including modern data encryption measures, 2FA, hot/cold wallet storage and session timeouts. In particular, Swyftx has never publicly disclosed any compromise or hack in its entire operation history. The company seeks to receive the revered ISO27001 certification in the coming years.

Similarly, CoinJar is another Australian crypto platform with a dedication to security. It possesses all the features one would expect from a modern exchange – 2FA, “ultra-cold storage”, fraud protection, and bug bounties. Just like Swyftx, CoinJar has never been hacked.

Swyftx vs CoinJar: Customer Support

Swyftx is renowned across Australia for its customer support team. The team, headquartered in Brisbane, is 50+ members strong and offers an extremely responsive live chat during work hours. In addition, users can contact the support team via email or contact form. The platform also hosts a help center with 100+ articles, alongside a “Learn” page featuring guides and useful information about the world of cryptocurrency. Swyftx’s efforts to cultivate a welcoming, helpful platform have rubbed off on their customers – with the exchange boasting a 4.7/5 star rating on the review site TrustPilot.

CoinJar has slightly less emphasis on customer support, largely due to being a smaller exchange with less staff and turnover. Despite this, the company still has an excellent reputation for helpful and responsive customer support. Unfortunately, CoinJar does not offer a live chat. Customers will need to submit a ticket to receive help. Even with this barrier, CoinJar still receives a very solid 4.1/5 star rating on TrustPilot.

Final Comparison Scores

After a cursory glance at the final comparison scores, it is easy to surmise that Swyftx is a much superior crypto exchange to CoinJar.

Comparison Criteria	Winner
Features, Products and Services	Swyftx
Ease of Use	Draw
Trading Fees	Swyftx
Mobile App	Draw
Security	Draw
Customer Support	Swyftx