Comparison Between Coinspot & Swyftx with Coin Culture

Coin Culture started  in 2021 after noticing a distinct shortage of Australian-based crypto news outlets. Our goal was to provide Aussie crypto users with an impartial and reliable media, covering the most important developments in the cryptosphere in Australia and around the world, while providing a kit of basic understanding tools.

Established in Melbourne, Coin Culture is developed by Australian cryptocurrency enthusiasts and cryptocurrency enthusiasts, ensuring universal access. Whether you are new to the field or experienced, our inclusion of large altcoins, policy rules, technology and general blockchain issues work to provide insight and value to readers of all levels.

Some of the key beliefs behind Coin Culture are:

Easy to understand

It is becoming increasingly difficult to understand the technology behind Web 3.0 and the internet is divided. Our first and foremost task is to stop making things very difficult. We believe crypto should be easy to understand.

Good News

We want to make sure that we incorporate stories that appeal to our readers. We also want to ensure that readers are involved and find the value in the pieces we publish.

Although cryptocurrencies are volatile and exciting, we want to stay true to our analysis. Not all technologies are kind and the cryptocurrency space has been marred by scams, malicious technologies, and robberies in the past. It is important for us to introduce our readers to both sides of the coin in order to inform better decision-making.

Web Hosting 3.0

We are strong believers in crypto and Web 3.0, and have tried to stay on the edge of everything that brings us closer to the new web. Cryptocurrencies already have many web-based 3.0 systems with their split and trusted nature, so space makes it easy to adopt. Whether it’s DeFi, cash-strapped games, or NFTs, with our guides and news stories, we aim to keep our readers up-to-date with the latest developments in space.

Let’s compare CoinSpot vs Swyftx with Coin Culture

CoinSpot Overview

Launched in 2013, CoinSpot is one of the most established and trusted crypto exchanges in Australia. CoinSpot is a very secure platform (based on external auditing and security certification), and its users have almost doubled in six months by 2021 when it closes the year with more than two million users.

Swyftx overview

Swyftx is a new player in the Australian crypto market. Launched in 2019 by Alex Harper and Alex Goldman, the exchange now has over 300,000 users.

Despite its slow growth, Swyftx is still doing well, but its apparent lack of security procedures and certifications is troubling. The exchange is registered and regulated by AUSTRAC and complies with all applicable KYC and anti-money laundering laws. However, the lack of a certificate of excellence for Blockchain Australia has raised alarm bells with Australian traders.

Swyftx payment structure appears to be 0.6% straight, but does not have (at the time of writing) a full exchange where users can trade with peers for lower incomes. In addition to this, they fail to explain that making a swap transaction actually collects two funds to keep paying 1.2%, which is one of the highest trading currencies in Australia.