Ease of Use
Swyftx and Binance are designed for various categories of users, which is evident in their respective usability.
Swyftx is primarily concerned with facilitating the purchase and sale of cryptocurrencies with fiat currency (i.e., AUD, NZD, and USD). Verified users can select a deposit method to fill their account with AUD and then use the list of supported cryptocurrencies to purchase or sell.
In addition, the exchange is distinguished by its exclusive demo mode; thus, beginners can practise purchasing and trading cryptocurrencies via play money with no financial risk. It is a handy tool that other cryptocurrency exchanges should include.
However, users may find it hard to find digital assets like Bitcoin, Ethereum, or XRP to buy due to the poorly-designed interface of Swyftx. The overall user experience on desktop and mobile websites is a bit awkward because many customers said the dashboard is hard to navigate, which is a disadvantage over Binance.
Swyftx’s clumsy interface. Image: Swyftx
Binance, on the other hand, is geared toward cryptocurrency traders who like to speculate on hundreds of crypto-to-crypto trading pairings using its advanced trading interface. As Binance is a major exchange in terms of trading volume and liquidity, it’s also suitable for experienced traders with sufficient trading knowledge to navigate the platform across all supported markets.
Binance’s advanced trading features. Image: Binance
Binance is also a highly developed trading platform with better capabilities for crypto-to-crypto trading. The trading terminal employs the popular Tradingview charts, which have several charting patterns, technical indicators, and drawing tools.
In addition, Visa and Binance have collaborated to provide the free Binance Crypto Card. You can spend your cryptocurrency at 60 million merchants worldwide and earn up to 8% cash back on eligible transactions!