The two exchanges offerings are fundamentally different in their scope, with Voyager being a mobile-only exchange catering to investors and casual traders, while Binance is focused on being a global leader and fast innovator in every crypto product. This is why its good practice to compare live prices on several platforms before trading.Voyager also charges dynamic withdrawal fees which can get pricey. FTX will win against Voyager for all intermediate or advanced traders, as FTX offers 323 coins and 492 trading pairs, which is again far higher than Voyagers 80+ coins offering. One advantage of using Voyager versus many cryptocurrency exchanges is that its fairly low-cost. In other words, Voyager makes money when it saves you money on an order by executing it at a better price. After setting a Limit Sell order as the lowest ask price, the Voyager app does not show my order! This will allow Voyager to verify your identity. Comments are solely the opinions of their authors. Voyager crypto review: Fees, features & more | Finder For select stablecoins, Voyager may charge a withdrawal fee equivalent to $35. Your email address will not be published. Feel free to shoot me a message on Facebook if you would like to get in touch and talk about the emerging crypto world. Editorial Disclaimer: Opinions expressed here are authors alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities. If Voyager beats the quote price, it takes a portion of those savings and passes some savings onto you.Unfortunately, Voyager doesnt state how much it takes. There have been reports in the past of customer support taking very long to reply to users but this was due to surges in customer demand and signups during 2020-2021. Bottom Line. At the Voyager crypto app LIMIT Buy/Sell page, it will NOT show you the current ask/bid prices. According to its website, you can sign up and begin investing in three minutes or less. However, if users desire a clear fee schedule, Binance is better, since Voyager charges fees on the spread that are not clearly defined. Meanwhile Celsius has awful trading fees as its not what the company specializes in. Like Celsius, Voyager has its own token (VGX) that rewards users for their loyalty to the platform. The company describes itself as a broker that facilitates trading through its routing technology. But if you expect to make frequent withdrawals, you may want to look for a platform that has a static withdrawal fee structure (or one that doesn't charge withdrawal fees at all like Celsius). Learn more here. Owning certain amounts of VGX places you into different tiers, which unlocks perks like referral bonuses and bonus cryptocurrency. Easy Hack That'll Get Your Voyager Fees Waived [3 Steps] However theres a catch, users have to first convert their crypto to USD, which unfortunately is a taxable event. However, there are a few other options to explore. During the sign-up process you will need to enter DAN8DE for the Voyager promo code. CultOfMoney.com strives to keep its information accurate and up to date. Dogecoin (DOGE): Withdrawal Fees Compared (2023) | WithdrawalFees.com out Create an account to follow your favorite communities and start taking part in conversations. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. There are other exchanges that work better for your use case. Unlike other mobile app exchanges such as Robinhood however, users actually own their crypto assets and can withdraw them or deposit them into their Voyager account, however not every single asset that users can trade or buy is available to be withdrawn from the exchange. Not selling , just wondering. Then, the user should select the asset the user wishes to sendeither crypto or fiat. Just send USD or sell to ltc and send that? This is the same risk you face when lending on platforms like BlockFi.You can withdraw your funds anytime but the withdrawal process can take up to seven days. In case you want to check out other exchanges, below is our list of comparisons: Choosing a winner between Celsius and Voyager is easier said than done, as both companies have different pros and cons, appealing to very different users. When does Voyager App pay interest? Theres also a support contact form. According to Voyager, additional perks like withdrawal discounts and cryptocurrency cash back are also coming. When Voyager launched in 2018, it did so with the aim of offering investors a no trading fee feature and as a mobile-first exchange. Funding Your Account: You can fund your Invest Voyager crypto account with cryptocurrency or with a bank account. Your referral also gets $25 in free Bitcoin.This is a very competitive referral program. You can find the full list of supported products here. Crypto Deposits and Withdrawals NOW LIVE! - NODE from Voyager Before you can open your account, you will be required to provide specific information. Ethereum On Celsius you'll earn a 5.35% APY on your first 100 ETH and 5.05% for any amount over that. Voyager doesn't charge a fee for using ACH transfer for cash. Voyager offers a lot lower fees for the trading of cryptocurrencies, one of the lowest on the market. Here's what to know about this increasingly popular digital currency before getting involved. Voyager instead makes money on the spread (the bid/ask) of the coin being traded. Voyager vs Celsius vs Crypto.com: No Fee Crypto Apps for Free Mobile Voyager is not recommended for anyone at this time. Though I wouldnt want to put this to the test. Like we already discussed in detail Voyager also provides users the opportunity to earn interest with their crypto holdings. From there, the Bitcoin will be in your account within 72-hours. But we do have to make money to pay our team and keep this website running! If you want to invest in cryptocurrency and need a simple way to start trading, Voyager should definitely be on your radar.This cryptocurrency broker is a popular alternative to exchanges like Coinbase and Gemini. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Never want to use app again and now no use for the USDC. For US users who desire access to a high quality exchange that is also a publicly trading company, Voyager makes a great choice if users are willing to forego some features such as advanced charting or futures trading. The buying and selling experience is very bad on Voyager. But even though you can't determine how trades are executed, Voyager says its Smart Order Router connects to more than 12 exchanges and market makers to offer its users fast order execution and good pricing. Remember that if you're using a blockchain like Bitcoin or Ethereum to withdraw your funds, you'll still need to pay a transaction fee to miners. One of the downsides of Voyager is the limited ways that you can use it. Currently, Voyager is available in every U.S. state except New York. After processing fiat withdrawals, the usual timeframe for ACH withdrawals to reach the users bank is 2-4 business days, excluding weekends and holidays. Voyager offers the following deposit and withdrawal methods, with the corresponding fees: The minimum withdrawal amount for crypto assets or stablecoin is equivalent to $10. Interest is paid monthly. It also analyzes other factors, including time in business, type of business, customer complaint history, licensing and government actions, and more. Celsius published a list of names of users who could withdraw assets locked on the platform, with the company saying at the time it had permission from the U.S . Since Voyager is a cryptocurrency broker, it shares some features with cryptocurrency exchanges and lending platforms. Voyager allows the purchase of cryptocurrencies from a wide array of exchanges,. A network fee is necessary in order to have your transaction processed by the decentralized cryptocurrency network. 35 BQX/VGX to withdraw a vgx token. The Cult of Money does not include all companies or offers available in the marketplace. Voyager review: Trade more than 100 cryptocurrencies without fees The best features of Voyager are its simplicity and no trading fees. The responses in the comments below are not provided or commissioned by any advertiser. As mentioned, Voyager uses its Smart Order Router technology to find pricing discrepancies across various exchanges to try and beat quoted prices. Some time between February 2021 and July 1 of this year, Voyager's 2019 blog post was quietly edited so that it no longer stated customer dollars were safe in the even of the company's failure . But this isnt JUST a selfish request. Voyager Review | Features, Pros & Cons, & Pricing - Cult Of Money Plus, Voyager recently declared Chapter 11 bankruptcy, and said that it doesn't have enough money to make customers whole for the assets they had on deposit. That's like paying $30 to $35 to take money out of an ATM. Yes, Voyager takes extensive security precautions and is regularly audited in its reserves and financial statements of the company given that it is a publicly traded company. Exchange Withdrawal Fee Minimum Withdrawal Amount; $1.52. It looks especially designed for beginners, as placing an order can be done in just a few seconds. Sorry New York, those financial regulations always leave you out just like they did with BlockFi. Voyager gives investors 4.6% APY on ETH for a minimum of 0.5 ETH balance. It's a flat fee that won't increase as your account assets grow. of It will be compatible with both Android and iOS. Additionally both platforms have lackluster customer service, so theres no winner in that field. I am Petar and I come from a small country in South-Eastern Europe called Serbia. USDC is $20, for example. Voyager Transfer Times and Fees : r/Invest_Voyager - reddit Youll need to send your email to rewards@investvoyager.com. First, youll need to use the Voyager affiliate link to access the site and download the app. The Voyager app is still available, and the team behind it is hopeful for. as well as other partner offers and accept our, No trading fees (excluding the small spread fee Voyager earns for executing orders at better prices), Access to 100+ cryptocurrencies, including bitcoin, ethereum, and dogecoin, You can fund account instantly with cash or crypto transfers, Voyager filed for bankruptcy in July 2022, No self-custody for individuals, meaning you can't secure your crypto assets with a private key you control (Voyager says this feature is coming soon), Not available for New York residents, and international support is limited (see full list of supported countries here). The Binance exchange is not at all accessible to US persons and US customers will have to use Binance US which is a much more limited version of its global parent site, with only 64 coins and 130 pairs, which is still more than that of Voyager, so Binance US still wins if compared to Voyager. If you dont see a cryptocurrency listed in the table, try the full list on the website. Thats why its common to have these trading pairs at big exchanges. Generally, Voyager fees allow you to only pay flat fees per token, as well as $50 for wire transfers. That's not what its made for. Alternatively you can buy VGX and stake it on your own through MetaMask.Earning 7% isnt groundbreaking when you consider platforms like Celsius pay upwards of 17% APY. There are no further account tiers or limits. Like all public companies, they will be audited. This is different from most exchanges that prioritize desktop support. The company claims the failure of Three Arrows Capital and the volatility in the market as reasons for this decision. Voyager was founded in 2017 and is based in New York City. However, if you're transferring FIAT through wire transfer at Voyager then you'll have to pay a $50 fee. Withdrawals: When you want to withdraw your money, you will need to pay a fee that varies between each coin. We aim so create all our content so that even they can understand it! There are some very high fees hidden into the Buy/Sell Spreads that can range from 1% to 3%. Withdrawal Fees on Cryptocurrency Exchanges Voyager gives investors 4.6% APY on ETH for a minimum of 0.5 ETH balance. In March 2022, the New Jersey Bureau of Securities ordered Voyager to stop offering interest-bearing accounts, claiming it used the accounts to sell unregistered securities. Though the crypto app offers both market news roundups and several explainer blog posts on different crypto topics, it doesn't provide much else for newcomers. For example, the earnings reward boost pays you an annual reward percent boost on various cryptocurrency assets Voyager supports. And they are large enough that they are difficult to find on their website, if they are still there. Voyager calls their withdrawal fees "small". There is a slight difference in fees to start giving Voyager the edge: the minimum fee tier at Gemini starts at 0.35% for takers and 0.10% for makers, with a flat transaction fee between $0.99-$2.99 and 1.49% transaction fee for trades over $200, so there are extra fees per transaction and extra auction fees, while Voyager charges 0 trading fees and only minimal fees based only on the spread. The best way to make sure that your account is secure is by using 2-Step Verification. How To Invest In Crypto In Your IRA Or 401k, Best Tax Software For Crypto And NFT Traders. Voyager is a Financial Crimes Enforcement Network (FinCEN)-registered exchange, and it's a fully regulated and publicly traded company in the US. All trades can only be done against the USD (more on that later). Similarly also Voyager pays out interest to investors monthly and even offers free withdrawals. For crypto withdrawals, once they are approved based on AML procedures, on average, it takes from 30 minutes to several hours for a transaction to be confirmed due to the blockchain. Very annoying. This means you won't be able to decide where to execute your trades; Voyager does this for you. Create an account to follow your favorite communities and start taking part in conversations. Voyager and Gemini are similar in being US-compliant exchanges with full-featured mobile apps and a basic range of crypto financial services offered. Voyager also pays bugbounties to incentivize users and white hat security experts to report potential security flaws. However, Voyager still lacks the brand presence that Coinbase has achieved. Finally, the user clicks the Submit button, opens his or her email, and confirms the withdrawal. I wouldnt say that Voyager is a scam, but I would say their business practice is not in the best interest of their customers. Proof Of History, Why I Bought An NFT [And 5 Reasons You Should Too], My Dogecoin Experiment: What I Learned From Investing $2,000 In DOGE, Most Common Crypto And NFT Scams (And How To Avoid Them), Bookkeeping And Accounting For Crypto And NFTs, What Is A 51% Attack? The team also maintains ablog with news and reports. To sign up for Voyager, you first download the app for Android or iOS. Rickie Houston was a senior wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. You will be able to trade over 50 cryptocurrencies, though you can only collect interest on 20. Voyager manually approves all withdrawals as part of the AML process, so all withdrawals may take up to 24 hours. My real bank account with my actual funds never gets connected to these sites. What Is Uniswap And How Do Decentralized Exchanges Work? So if you dont have $10, the Voyager crypto app doesnt want anything to do with you. There are some very high fees hidden into the Buy/Sell Spreads that can range from 1% to 3%. To do this, many or all of the products featured here may be from our partners whom we receive compensation from. Please note that for crypto, the number of confirmations required for actual depositing of funds is determined by every receiving platform individually, for each particular currency, according to its own security standards. This is a better way to spend your crypto then selling it. Lending platforms always set their minimum deposit amount way to high, but not Celsius. Does the mean when you transfer your crypto to another wallet theres is a fee? Withdrawal fees : r/Invest_Voyager - reddit Despite being mobile-focused, Voyager has an impressive number of features that help it go toe-to-toe with popular exchanges and lending platforms.