Swyftx vs Digital Surge | Does Either Match Up With Top Exchanges?

Let's continue by taking a closer look at the trading fees offered by Swyftx and Digital Surge.

First up, Swyftx, this Australian exchange charges a maker and taker fee of 0.6%, which is definitely on the higher side compared to other exchanges out there.

Even for swaps, the minimum fee applied is 0.6% for the buy order and 0.6% for the sell order, resulting in a total fee of 1.2%, which is not great news for traders looking to save on fees. Unfortunately, Swyftx doesn't offer any rebates for higher trading volumes, so everyone pays the same fees for each transaction.

Now, let's take a look at Digital Surge. This exchange is also based in Australia and offers some pretty competitive trading fees. For spot trading, Digital Surge charges a maker fee of 0.5% and a taker fee of 0.5%, which is slightly lower than Swyftx's fees.

Overall, if you're looking to save on trading fees, Digital Surge is the better option compared to Swyftx. Having said this, both exchanges are relatively expansive and we recommend using alternative exchanges such as OKX and Gate.io instead.

When it comes to depositing funds into cryptocurrency exchanges, it's important to consider the available options and associated fees.

Starting with Swyftx, this Australian exchange offers a range of deposit options for its users. If you're looking to deposit AUD, you can do so via PayID, Poli, bank transfer, or credit/debit card. PayID and bank transfers are free of charge, but credit/debit card deposits come with a hefty fee of up to 4%.

In terms of support for fiat currencies, Digital Surge supports deposits for AUD. The available deposit methods for AUD deposits are PayID (bank transfer) and POLi.

PayID can be used to deposit money in as little as 60 seconds and it's 100% free. Deposits with POLi Pay on the other hand have a limit of $8k per day, and come with a small transaction fee.

Swyftx offers users the ability to withdraw two fiat currencies, AUD and NZD, with no fees for AUD and a $10 fee for NZD withdrawals.

Withdrawal times vary depending on whether the bank supports Osko or not, with Osko-supported banks having a withdrawal time of 1-2 minutes and non-Osko banks taking up to 2 business days.

For cryptocurrency withdrawals, Swyftx charges a fee of 0.0002 BTC for Bitcoin withdrawals, 0.0018 ETH for Ethereum withdrawals, 0.008 SOL for Solana withdrawals, and 7 USDT for ERC-20 USDT withdrawals.

For fiat withdrawals, users can withdraw their AUD from Digital Surge either via NPP/Osko withdrawals or through a normal bank transfer process. The minimum withdrawal amount is $20 and is free of charge.

When it comes to fees to withdraw cryptocurrencies, Digital Surge charges 0.0002 BTC for Bitcoin withdrawals and 0.006 ETH for Ethereum withdrawals. Solana withdrawals come with a 0.01 SOL fee and ERC-20 Tether come with a $7 USDT fee.

In summary, Swyftx and Digital Surge are two Australian-based cryptocurrency exchanges that offer a small range of services to their users.

Swyftx, being the larger of the two, offers a wider range of supported cryptocurrencies, over 320, compared to Digital Surge. It also has a larger user base, boasting over 700,000 registered users.

Its recurring buy feature and demo account option make it an attractive choice for beginners looking to venture into crypto trading. However, the crowded interface could be a challenge for new traders, and the trading fees of 0.6% for both maker and taker are relatively high.

On the other hand, Digital Surge, while smaller with less than 50,000 users, provides a simple and secure platform for Australian crypto investors. It supports over 300 cryptocurrencies and offers a simple buy, sell, and swap model, with recurring buy and price alert features.

Its user experience is praised for being well designed and beginner-friendly. The trading fees at Digital Surge are slightly more competitive, charging a maker fee of 0.5% and a taker fee of 0.5%.

Will either of these two exchanges satisfy the needs of more demanding or experienced cryptocurrency investors or traders? Unfortunately, the answer is no due to the limitation in products and services and because of the high trading fees.