The cryptocurrency markets are in a period of considerable volatility and market capitalisation. To call the markets a roller-coaster would be a gross understatement. During this period of volatility and exuberance, questions are being asked about the most secure and reliable trading platform. While there are many different crypto exchanges to choose from, Swyftx and KuCoin are two of the best. So, which one is better? Let's take a closer look.

Swyftx is a relatively new entrant into the cryptocurrency market. It was founded in 2018 and has been winning the support of thousands of traders across Australia. Moreover, it provides users with a seamless, secure, and convenient way to trade in cryptocurrencies. The exchange was started with the goal of making the cryptocurrency market better and easier.

KuCoin is a Seychelles-based crypto exchange that has been operational since 2017.  It has quickly become one of the most popular exchanges in the world, with over 11 million users. KuCoin offers a wide range of cryptocurrencies for trading and several unique features that make it stand out from other exchanges.

So, which is the better exchange? Let's take a look at how we compared the two.

Swyftx vs KuCoin Australia:
Comparison Table

Header

Coins

320+

600+

Trading Fee

0.6%

0.1%

Deposit Fee

Free

Crypto deposits: Free;

No fiat deposits

Withdraw Fee

Free

No fiat withdrawals

Payment Options

Bank transfer, POLi, Credit/Debit card, OSKO, PayID, Cryptocurrency

Credit/Debit card, Apple Pay, PayPal

Pros

- Staking available on 20 cryptocurrencies

- Offers more than 320+ coins

- Live chat support

- Demo mode - trade for free with $10,000 virtual money

- Lower trading fees

- Supports over 600+ cryptocurrencies

- Automate trades with free bots

- Advanced markets for experienced traders

Cons

- Higher trading fees of 0.6%

- No fiat deposits or withdrawals

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(Swipe across screen to see full table)

Header

Coins

320+

600+

Trading Fee

0.6%

0.1%

Deposit Fee

Free

Crypto deposits: Free;

No fiat deposits

Withdraw Fee

Free

No fiat withdrawals

Payment Options

Bank transfer, POLi, Credit/Debit card, OSKO, PayID, Cryptocurrency

Credit/Debit card, Apple Pay, PayPal

Pros

- Staking available on 20 cryptocurrencies

- Offers more than 320+ coins

- Live chat support

- Demo mode - trade for free with $10,000 virtual money

- Lower trading fees

- Supports over 600+ cryptocurrencies

- Automate trades with free bots

- Advanced markets for experienced traders

Cons

- Higher trading fees of 0.6%

- No fiat deposits or withdrawals

Cell

Swyftx Pros & Cons

Pros

  • Offers more than 320+ cryptocurrencies
  • Staking is available on 20 coins
  • Demo mode where you can trade risk-free with $10,000 virtual money
  • Numerous free deposit options
  • Excellent Live Chat customer support

Cons

  • Higher trading fees of 0.6%

KuCoin Pros & Cons

Pros

  • Supports over 600+ cryptocurrencies
  • Automate your trades using free bots
  • Lower trading fees of 0.1%
  • Advanced markets for experienced traders

Cons

  • Doesn't support fiat deposits and withdrawals

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Swyftx vs KuCoin Australia Features

Swyftx is one of the most user-friendly cryptocurrency trading platforms available, making it ideal for new crypto traders. This platform has a simple, intuitive interface that makes purchasing and selling crypto simple.

If you're not quite sure how to trade cryptocurrency, Swyftx provides a demo mode so you can get to learn how to trade on the platform before risking your money. Plus, if you ever need assistance, the Swyftx support staff is available 24/7, and there's a Live Chat feature on-site.

Swyftx also allows you to stake 20 cryptocurrencies, which is an excellent way to expand your crypto portfolio.

Kucoin is one of the most popular cryptocurrency exchanges in the world, and for a good reason. KuCoin has a number of useful features that make it ideal for seasoned traders looking to get the most out of their trading experience.

With over 600+ available coins, KuCoin offers one of the largest selections of digital assets in the industry. This is perfect for experienced traders who want to have a wide range of options to choose from. In addition to spot trading, KuCoin also offers margin trading, futures trading, and a P2P marketplace. 

To make things even better, KuCoin also offers free trading bots to help users make the most of their trades. Plus, with the KuCoin cryptocurrency (KCS), you can use it to pay trading fees receive a 20% discount. 

Probably the most unique feature the platform offers is crypto borrowing and lending. This allows users to borrow or lend digital assets to make more profits.

Features: Kucoin is by far the superior option. The platform has several features, including advanced markets, trading bots, crypto borrowing and lending feature and a wider range of coins that make it more versatile.

Swyftx vs KuCoin Fees

Swyftx allows you to withdraw and deposit AUD free of charge and trading fees are 0.6%.

KuCoin has a much lower trading fee of 0.1%, and using the KuCoin token (KCS) to pay the trading fee will earn you a 20% discount. Cryptocurrency deposits are free, but there are no fiat deposits or withdrawals supported. If you do not have any crypto but you want to use KuCoin to start trading immediately, you can use the fiat gateway to pay for a small number of cryptocurrencies such as BTC or USDT using AUD. The platform doesn't provide clear information on this fee structure which is a big downside, but we calculated it to be between 3.1%- and 12.3% of the amount, depending on the payment processors.

Fees: While KuCoin offers lower trading fees, their fiat gateway fees are extremely high, which makes it unrealistic for traders looking to save. Swyftx offers trading fees of 0.6% and free fiat deposits and withdrawals, which are not even supported on KuCoin.

Number of Cryptocurrencies

Swyftx offers over 320+ cryptocurrencies.

KuCoin offers 600+ cryptocurrency options. 

Number of cryptocurrencies: Kucoin offers more options when it comes to coins, but the number of cryptocurrencies on Swyftx is still impressive. The main difference is that KuCoin offers a wider range of tokens, which may be appealing to some investors. However, for the average trader, the 320+ options on Swyftx should be more than they need. 

Deposit Methods

Swyftx supports POLi, cryptocurrency, PayID, credit and debit card deposits.

KuCoin only supports cryptocurrency deposits. If you want to use the fiat gateway to directly purchase crypto using AUD, you can use credit/debit card, Apple Pay and PayPal as well.

Deposit methods: Swyftx supports a wider range of deposit methods than KuCoin. With KuCoin, there is no option to deposit AUD or any fiat currency, although you can use several methods to purchase crypto directly.

Swyftx vs KuCoin Australia Security

When looking to get into crypto investing and trading, you need a reliable and secure crypto exchange.

Swyftx has implemented industry-leading security measures like 2FA and biometric log-ins, third-party penetration testing, and breached password detection.

Their security team is always on the lookout for new threats, and they have a robust risk management program in place to deal with any potential incidents. Plus, they are registered with AUSTRAC and comply with all KYC requirements - so you can rest assured that your money is in safe hands.

KuCoin has also implemented strong security measures. The dynamic 2FA authentication and SSL encryption ensure that your data is always protected, while our micro withdrawal wallets make it easy for you to access your funds whenever you need them.

As a top-tier crypto exchange, KuCoin is committed to providing users with a safe and secure platform to trade digital assets. To this end, they have implemented a number of security measures. The dynamic 2FA authentication and SSL encryption ensure that your data is always protected, while micro withdrawal wallets make it easy for you to access your funds whenever you need them. For an extra layer of security, they have a whole department dedicated to risk control that monitors all transactions ensuring that your funds are always safe.

Security: Tie. Both crypto exchanges have implemented numerous layers of protection and are dedicated to safeguarding their customers' information and funds.

Swyftx vs KuCoin Summary

Swyftx is a simple crypto exchange platform that makes it easy for beginners to buy and sell 320 cryptocurrencies. The platform is user-friendly, there's Live Chat support, staking, and a demo mode for beginners, making this a great choice for first-time investors.

KuCoin is a more advanced platform that offers a wide range of 600+ cryptocurrencies to trade as well as numerous advanced trading markets.

While KuCoin has more features, more cryptocurrencies available to trade and supports more payment processors, their instant buy fees are unreasonably high, and they don't support AUD deposits and withdrawals making it less favourable for Australian investors.

If you're looking for a reliable, user-friendly crypto exchange in Australia, Swyftx is the best choice. Swyftx caters for beginners and seasoned traders with a wide range of coins, a staking option and lower fees.

If you want to find out more, read our review on Swyftx or our KuCoin review. You can read our article on the best crypto exchanges in Australia to find other suitable options for you.

About the Author Andy Carter

Andy Carter is the CEO of Freedom Dividend, where he teaches you about dividend income that can change your life for the better. As a financial expert, Andy explores securities investing (stocks & shares) with an aim to provide a steady flow of income, enough to sustain you in your life.

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