Transaction tax

Swyftx Vs. Binance: Which Is Better?

Ease of use

Swyftx and Binance are designed for different categories of users, which is evident in their respective usability.

Swyftx primarily aims to facilitate the buying and selling of cryptocurrencies with fiat currency (i.e. AUD, NZD and USD). Verified users can select a deposit method to top up their account with AUD, then use the list of supported cryptocurrencies to buy or sell.

Moreover, the exchange stands out with its exclusive demo mode; thus, beginners can practice buy and trade cryptocurrencies via play money without financial risk. It is a handy tool that other cryptocurrency exchanges should include.

However, users may struggle to find digital assets like Bitcoin, Ethereum or XRP to buy due to the poorly designed interface of Swyftx. The overall user experience on both desktop and mobile websites is a bit awkward as many customers said the dashboard was difficult to navigate, which is a downside compared to Binance.

Swyftx clunky interface. Image: Swyftx

Binance, on the other hand, caters to cryptocurrency traders who like to speculate on hundreds of crypto-to-crypto trading pairs using its advanced trading interface. Since Binance is a major exchange in terms of trading volume and liquidity, it is also suitable for experienced traders with sufficient trading knowledge to navigate the platform in all supported markets.

Binance’s advanced trading features. Picture: Binance

Binance is also a highly developed trading platform with better capabilities for crypto-to-crypto trading. The trading terminal uses Tradingview’s popular charts, which feature multiple chart templates, technical indicators, and drawing tools.

Additionally, Visa and Binance have collaborated to provide the free service Binance Crypto Card. You can spend your cryptocurrency at 60 million merchants worldwide and earn up to 8% cashback on qualifying transactions!