CoinSpot vs Swyftx: Overview

CoinSpot was founded in Melbourne in 2013 and sells only spot crypto, meaning buyers own the coins they purchase. It reached 3 million customers in May 2025, making it one of Australia's largest crypto platforms. Our CoinSpot review covers the platform in depth.

Founded in Brisbane, Swyftx was registered as a company in December 2017 and serves more than one million customers across Australia, New Zealand and the United States. It acquired New Zealand's Easy Crypto, with about 350,000 clients, in March 2025.

CoinSpot's order book is cheaper for a typical buyer. Swyftx undercuts CoinSpot's 1% instant screen with a flat 0.6% fee and offers more product types. Both accept free PayID deposits, report to AUSTRAC and hold ASIC licenses. Our guide to the best crypto exchanges in Australia ranks both against offshore competitors.

What Changed for CoinSpot and Swyftx in 2026

Six changes in 2026 will have the biggest impact on users. Here is a quick summary:

• Australia passed its first crypto platform law: The Corporations Amendment (Digital Assets Framework) Act 2026 received Royal Assent on 8 April 2026 and takes effect on 9 April 2027 (ASIC). From that date, exchanges holding customer crypto will need an Australian Financial Services Licence (AFSL) covering "digital asset platforms."
• Both exchanges now hold an AFSL: CoinSpot's covers non-cash payment facilities as of 29 April 2026. Swyftx received AFSL 568543 in July 2026. Each exchange still needs the new platform authorisation because neither licence covers spot crypto trading.
• Swyftx added leverage and loans: Swyftx launched leverage trading in July 2026 on commodities and major stocks through contracts for difference (CFDs) issued by Eightcap. It also began offering crypto-backed loans provided by Block Earner.
• The Travel Rule started on 1 July 2026: Australian exchanges must now collect and share sender and recipient details when crypto moves between providers. For each withdrawal, CoinSpot asks whether the destination is a private wallet, another exchange, or another person or business. 
• CommBank tightened payments to exchanges: Commonwealth Bank caps payments linked to crypto exchanges at A$10,000 per calendar month and stopped allowing new scheduled payments to exchanges on 30 September 2026. A payment above the limit may be declined in full. Some payments face holds of up to 24 hours.
• CoinSpot connected AI agents to accounts: CoinSpot's Agentic API connects accounts to the open-source OpenClaw agent, which can check prices, read balances and place trades through apps such as WhatsApp and Telegram. It cannot add withdrawal addresses or send funds out. Its trades incur standard CoinSpot fees.

CoinSpot vs Swyftx: Products

CoinSpot provides several ways to buy crypto with Australian dollars. Swyftx combines a similar spot exchange with derivatives and credit in a broader account.

CoinSpot Products

The following products are available to verified Australian customers.

1. Instant Buy, Sell and Swap: Orders on the default buy screen execute at CoinSpot's quoted price with a 1% fee. Swaps convert one coin into another in a single step.
2. Markets: Buyers and sellers post prices on CoinSpot's order book. At 0.1%, the trading fee is one tenth of the instant fee.
3. OTC desk: The over-the-counter (OTC) desk is now in the mobile app and prices large orders privately at 0.1%.
4. Recurring Buys and Bundles: Recurring buys purchase a fixed amount on a schedule, a method known as dollar-cost averaging (DCA), for 1% per order. A Bundle buys a group of coins in one order.
5. CoinSpot Mastercard: The prepaid digital card works through Apple Pay and Google Pay and converts your chosen coin to AUD at checkout.
6. Apple Pay, Google Pay and PayPal: Apple Pay and Google Pay deposits are accepted in the app. PayPal supports both deposits and withdrawals.
7. Agentic API: The OpenClaw AI agent connects to your account through this setting and asks for confirmation before every trade. You can revoke access at any time.
8. Entity accounts and NFTs: Self-managed super fund (SMSF), company and trust accounts are supported. CoinSpot also runs an NFT (non-fungible token) marketplace.

Swyftx Products

Swyftx separates its services into a spot exchange and a separate leverage platform.

1. Spot exchange: Buy, sell and swap more than 440 cryptocurrencies with AUD or NZD at tiered fees starting at 0.6%.
2. Leverage platform: CFDs on crypto, commodities and major stocks are available through a separate account. Eightcap Pty Ltd (AFSL 391441) issues the contracts, which Swyftx distributes. Retail customers must first pass a suitability check.
3. Crypto-backed loans: Block Earner's lending company provides credit secured against your crypto. Swyftx acts as its authorised credit representative.
4. Demo mode: Beginners can test orders without risk using a practice account funded with US$10,000 in simulated money.
5. Recurring buys: Swyftx purchases a fixed amount on a set schedule. CommBank customers should use one-off transfers to fund these purchases because the bank blocks new scheduled payments to exchanges.
6. Trigger orders: Take-profit and stop-loss orders execute at your chosen price. The fee depends on your tier at execution, and cancelled orders cost nothing.
7. Entity accounts: Accounts are available for companies, trusts and SMSFs.
8. Learn & Earn: Short lessons on crypto topics reward users with a small amount of crypto on completion.

CoinSpot vs Swyftx: Fees

Both exchanges charge a percentage of each trade. Their instant prices also include a spread, the difference between the buying and selling price. This adds to your cost without appearing as a separate fee.

Trading Fees

• CoinSpot: A 1% fee applies to Instant Buy, Sell and Swap, recurring buys, and take-profit, stop and limit orders. On the Markets order book, trades cost 0.1%.
• Swyftx: Spot fees drop through nine levels from 0.6% to 0.1% as your 30-day trading volume rises, reaching the lowest rate at $6 million. Tiers update every 60 minutes without reducing the spread. OTC trades count toward your volume but are priced separately.

Fee example: Buying A$1,000 of Bitcoin incurs fees of A$10 through CoinSpot Instant Buy, A$6 at Swyftx's standard tier and A$1 on CoinSpot Markets.

Deposits and Withdrawals

• CoinSpot: Deposits through PayID, direct deposit, card and PayPal are free. Cash deposits cost 2.5%. Withdrawals to a bank are free, compared with a 2% fee for PayPal.
• Swyftx: PayID and bank transfer deposits are free, as are AUD and NZD withdrawals. Australian card deposits through Stripe have no Swyftx surcharge, but Banxa adds a spread of up to 2.5%. For NZD card deposits through Stripe, the fee is 2.734%.
• Crypto withdrawals: Both exchanges deduct a network fee that varies by coin. The fee is shown before you confirm.

CoinSpot Markets is at least as cheap as every Swyftx tier. Swyftx is cheaper only against CoinSpot's 1% products, including Instant Buy, recurring buys and limit orders. Our article on CoinSpot's fees explains how to avoid the higher rate.

CoinSpot vs Swyftx: Leverage, Staking and Loans

The exchanges differ most in what they offer beyond buying and holding coins.

Leverage Trading

• Swyftx: CFDs pay or charge you the change in an asset's price without giving you ownership. Failing the suitability check twice permanently removes access. Eightcap charges a trading fee and a spread, plus an overnight funding fee on open positions.
• Wholesale access: Applicants follow a separate process and need net assets of at least A$2.5 million or gross income of at least A$250,000 in each of the last two financial years.
• Retail leverage limits: ASIC caps retail CFD leverage at 2:1 for crypto and 5:1 for individual shares. The limit is 10:1 for commodities other than gold, rising to 20:1 for gold and major stock indices.
• CoinSpot: No leverage, futures or CFDs are offered.

Staking and Earn

• CoinSpot: Citing the changing regulatory environment, CoinSpot suspended its Earn program on 1 September 2023.
• Swyftx: Swyftx closed Earn on 10 January 2023 for a similar reason.

Crypto-Backed Loans

• Swyftx: Loans are provided by Web3 Loans Pty Ltd, managed by Block Earner under Australian Credit Licence 542689. You can sell part of your crypto to protect the lender if its value falls far enough. Block Earner sets rates, loan-to-value ratio (LVR) limits and accepted coins. Check the current terms in the app before borrowing.
• CoinSpot: No loan product is available.

Leverage magnifies losses as much as gains. A 20% fall in Bitcoin's price at 2:1 leverage wipes out 40% of the position's value. With a crypto-backed loan, a sharp price drop can force a sale of your collateral at a low price.

CoinSpot vs Swyftx: Security and Custody

Both exchanges hold the private keys to your coins. This custodial storage arrangement makes the safety of your balance dependent on each company's controls and records.

CoinSpot Security Measures and History

• Certifications: CoinSpot was the first Australian exchange to receive ISO 27001 certification, an international standard for information security management. It also holds Blockchain Australia certification.
• Audit: For the 2023 financial year, CoinSpot completed an external statutory financial audit. The exchange describes this as a first for an Australian exchange.
• Account controls: Users can enable two-factor authentication (2FA), requiring a second code at login. Most assets are kept offline in cold storage.
• Incident history: Investigator ZachXBT reported on 8 November 2023 that wallets linked to CoinSpot lost about 1,283 Ether (ETH), worth around US$2 million, within five minutes. Security firm CertiK pointed to a probable private key compromise of a hot wallet. No customer losses were reported, and CoinSpot published no detailed incident report.

Swyftx Security Measures and History

• Certifications: Swyftx holds ISO 27001 and has renewed and upgraded its certificate.
• Storage: Customer assets are kept in a mix of cold and hot storage. Cold storage stays offline, while online hot storage allows withdrawals to process quickly.
• Compliance controls: Swyftx says regular audits check its anti-money laundering program under Australian and New Zealand law.
• Incident history: There has been no publicly reported theft from the Swyftx exchange.

Swyftx has the better incident record. CoinSpot publishes more external checks, including its statutory audit. We suggest moving long-term holdings from either exchange to a wallet you control.

CoinSpot vs Swyftx: Regulation and Country Access

The Australian Transaction Reports and Analysis Centre (AUSTRAC) enforces anti-money laundering rules for Australian exchanges. They also answer to the Australian Securities and Investments Commission (ASIC), which licenses financial services.

CoinSpot Licenses

• AUSTRAC: CoinSpot has been registered as a VASP with AUSTRAC since 8 May 2018.
• ASIC: CoinSpot holds an AFSL for non-cash payment facilities, listed as of 29 April 2026. Its license announcement confirms that Markets, the OTC desk and the Mastercard remain unchanged.
• Customer protection: Disclosure and conduct obligations come with the license, along with access to external dispute resolution.
• Country access: Only Australian residents can use CoinSpot.

Swyftx Licenses

• AUSTRAC: Swyftx was registered with AUSTRAC before receiving its AFSL. It also follows New Zealand's anti-money laundering law.
• ASIC: Swyftx Pty Ltd holds AFSL 568543, granted in July 2026, for non-cash payment facilities, retail derivatives and basic deposit products. The company states that this license does not cover its spot crypto exchange.
• Partner licenses: Leverage products are issued by Eightcap under AFSL 391441. Block Earner provides the loans under Australian Credit Licence 542689.
• Country access: Swyftx serves Australia and New Zealand. Its group also serves high-net-worth clients in the United States through Caleb & Brown, a separate brokerage.

Existing platforms have six months to obtain the new authorisation after the Digital Assets Framework Act takes effect on 9 April 2027. Licensed platforms must publish a platform guide and platform rules. Both exchanges must comply because only platforms with under A$10 million in transactions over 12 months are exempt.

Final Thoughts

Cost and product range decide the choice between these licensed Australian exchanges, which both offer free PayID deposits and free AUD withdrawals. CoinSpot has the lowest trading cost through Markets and the larger coin list. Swyftx offers leverage, loans and New Zealand access, with its new license pointing to a broader financial app.

Choose CoinSpot if you buy a few times a month and are comfortable with an order book. Swyftx suits New Zealand residents, users seeking CFDs on traditional assets, or anyone who prefers a simple, instant rate below 1%. Some investors keep both accounts, using each exchange for a different purpose.

Before funding either account, check your bank's exchange payment limits, particularly at Westpac, NAB or ANZ. Enable 2FA and send a small test withdrawal first. Move long-term holdings to your own wallet. Anyone planning to use Swyftx leverage should first read the product disclosure statement (PDS) and target market determination (TMD) on its derivatives documents page.