The bid and ask prices can have a spread up to 3%. This is most notable with staples like Bitcoin and Ethereum. Not selling , just wondering. Your order will automatically be rejected if you try to put in a trade worth less than $10. However, Voyager still lacks the brand presence that Coinbase has achieved. Coinbase is a public US company and offers transparency into its industry-leading security along with its brand reputation, while Voyager is also a publicly traded company that is similarly audited and reputable. In addition, it supports over 100 cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dash, Ripple, etc. Just convert to ADA if you want to keep your money in crypto. If there is anything dodgy about the platform, the investors would have discovered it. I even lowered the price more and it still did not display my order when the spread was still at a 3% difference. There are no limits on crypto deposits. Voyager, though, is a publicly-traded company. Both Voyager and Celsius have their native tokens, which can be seen as investments. Rewards are earned in USDC. The responses in the comments below are not provided or commissioned by any advertiser. Press J to jump to the feed. [12] Security and Trustworthiness Voyager This means you have to provide personal information including your: Voyager also asks you to verify your identity which usually involves uploading a picture of you holding your drivers license or passport. You can do so by finding "Account" in the Voyager app, selecting "Transfer Cash or Crypto," and navigating to "Transfer Crypto" and tapping "Send Crypto out of Voyager." Both exchanges offer no margin trading, but Voyager easily wins in the fee department, as it has 0 commission trading fees which is much lower than at Coinbase. Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). Open orders are only available in your transaction history, The interest rates are lower than competitors like. That means if you have BTC and want to buy VGX, you have to sell BTC for USD. The data is only accessible to those at Voyager who need to know the information for a particular business purpose. Up to 10% APY on over 50 cryptocurrencies, such as. If you're interested in crypto investing, you may want to consider other crypto exchanges. If you sell, depending on the country and state you live in, you could pay up to 40% in taxes on your crypto if you do not hold it for more that a year. Like many other people, I have been burnt by shady companies in the past. At the Voyager crypto app LIMIT Buy/Sell page, it will NOT show you the current ask/bid prices. After getting your account approved, just deposit $100 into your Invest Voyager account. Both have their pros and cons but which one should you choose? of My real bank account with my actual funds never gets connected to these sites. Kraken offers margin trading at up to 5X leverage even for US investors and several other margin offerings, which is a win over Voyagers lack of any margin or leverage offerings. Additionally, Voyager may lend, sell, invest, or use your deposited funds in various ways, which presents risk. The winner here is clearly Celsius. Lending platforms always set their minimum deposit amount way to high, but not Celsius. Our Rating: 2.00 stars. In the US. Unfortunately Voyager only offers a mobile app which is bummer for those whod rather trade on their computer. Press question mark to learn the rest of the keyboard shortcuts. You will be able to trade over 50 cryptocurrencies, though you can only collect interest on 20. So that 0.002585 (~$21) becomes 0.002085 ($17) by the time it hits your wallet: effectively a 20% withdrawal fee. New accounts have a daily deposit limit of $10K. Support is only available via email that can be accessed through inputting a request within the app and self-custody is not available as Voyager is not a non-custodial wallet, but rather an exchange that offers a custodial wallet as part of its services. Altcoins Stablecoins Voyager was founded in 2017 and is based in New York City. Because Voyager is regulated in the United States, it has certain perks in terms of security. Kraken is accessible in 48 US states with KYC and is regulated and licensed by FinCEN in the USA, while US users can also use Voyager and Voyager is a public company that is also audited and regulated in the USA. This should happen automatically. Some withdrawal fees can be anywhere from $10-$15USD (full list here). Fee Example: if you bought and sold the exact same coin within 1 second, youd already be down 3%. US investors and traders are allowed to use Gemini with KYC verification only, since Gemini is regulated and based in the USA, however as a result, Gemini offers no margin or futures products, and neither does Voyager. These fees depend on the coin but can range anywhere from 1% to 3%. For select stablecoins, Voyager may charge a withdrawal fee equivalent to $35. Both have unique and different use cases and should be considered based on fundamentals. This will make it easier for the IRS to discover your taxable obligations. Active traders who need access to order books and advanced charting functionality may prefer using Coinbase Pro, FTX, Binance, or KuCoin though their fee structures and product offerings differ and will charge users likely more commission than Voyager given its 0 commission fee schedule, as they all use volume-tiered fee schedules. Voyager earns money from the spread between the price at which you submit your order and the price at which the platform executes it. Then, the user should select the asset the user wishes to sendeither crypto or fiat. Reddit and its partners use cookies and similar technologies to provide you with a better experience. It's a flat fee that won't increase as your account assets grow. According to his LinkedIn page, he has 25 years of experience running organizations. New users have a daily deposit limit of $5,000.Voyager lets you place trades as market or limit orders. With Voyager, you can earn passive crypto rewards on your holdings. Overall, Voyager uses excellent security features and is a great mobile exchange/app with a great reputation. Voyager is also a FinCen registered Money Service Business now traded on US OTC markets under VYGVF. Yes, KYC verification is mandatory at Voyager as it is a regulated public company and US-compliant exchange. Voyager is a US-regulated cryptocurrency broker that pays high interest rates on select cryptocurrencies. Earn 3.50% Annual Percentage Yield (APY) with no account minimums or monthly fees. Not every Voyager user is comfortable with the Voyager fees. While Celsius excels at being a lending platform, providing users with the higher yield. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. You can do that completely for free and I made a video tutorial on that. The buying and selling experience is very bad on Voyager. I know, pushing my own Voyager referral code, right? Does this workflow make sense? Thats how the Voyager Digital app makes its money. However, the end result users pay in fees may be the same since Voyager charges based on the spread instead of a fee system, and high volume traders may pay less fees on a net basis at a low-fee competitor such as KuCoin or FTX. Voyager calls their withdrawal fees "small". This will allow Voyager to verify your identity. If an active trader wishes to trade other instruments beyond crypto and prefers not to KYC, he or she may prefer other exchanges such as Bybit or OKX, but if he or she prefers a much larger selection of crypto only instruments and does not mind KYC, Kraken wins. The Voyager withdrawal fee differs based on the cryptocurrency you want to withdraw. 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. Firstly, a word of advice. It's about the same to withdraw STMX, which I know is because of gas fees, but still. International users who can use FTX International may prefer FTX for these reasons over Voyager. At The Cult of Money, we want to help you navigate your finances. Create an account to follow your favorite communities and start taking part in conversations. Create an account to follow your favorite communities and start taking part in conversations. Voyager offers an excellent mobile app and is a mobile-only exchange at the moment with plans to launch a desktop trading platform in the future, but even so offers 80+ coins and shines in its competitive rewards and interest-earning program with rates as high as 12% for many crypto assets, without the need for lockups or opt-ins, unlike most other exchanges. From there, the Bitcoin will be in your account within 72-hours. There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees. With the hidden fees, thats an instant 6% loss rather than a 0.1% fee with, Cant see transaction history unless youre looking at a cryptocurrency, Cant see open orders under the coin you are trading. Voyager also pays bugbounties to incentivize users and white hat security experts to report potential security flaws. The app supports bank transfers up to $5,000. Voyager does disclose its security protocol, but we can assume its similar. There is a small flat fee to withdraw crypto to an external wallet. Thanks yall. and our Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the authors alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. That 3% makes a BIG difference in your trades. Celsius doesnt offer the high rate for your 1st BTC, only for your 1st .25 BTC. Best Crypto Signals (Telegram & Discord) Are Crypto Groups Worth It? Interest Rates: Wholl earn you more, Celsius or Voyager? Staking involves locking up cryptocurrency to help validate transactions and earn crypto rewards. 35 BQX/VGX to withdraw a vgx token. But other than that Celsius is fee-free and withdrawals are unlimited. Voyager also has a limited selection of educational support for beginner traders. Binance also offers a more extensive web and ecosystem of products, support, and liquidity, especially given its larger daily volume as compared to Voyager. Continuing their insistence of accessibility, even opening an account with Voyager is laughably easy. All content on CaptainAltcoin is provided solely for informational purposes. So, in theory, if something happens, you can expect to get your money back. This means you won't be able to decide where to execute your trades; Voyager does this for you. All you need to start trading is a couple minutes. When you do a bank transfer with Voyager, they connect to your bank account using Plaid. Hidden fees (1% to 3%) are rolled into your orders. So it may in some cases be the platform of choice. How To File A Complaint Against A Crypto Exchange [Crypto Regulators], Copyright 2023 | Cult of Money | Privacy Policy | Terms of Service. But its promising that Voyager is expanding its offerings and also rewarding VGX token holders. Voyager is an excellent choice of multi-purpose crypto exchange for all types of crypto investors and spot traders who dont need to use the platform for advanced charting or order types. 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? Voyager charges the following deposit, withdrawal, and other fees: No account creation or maintenance fee No deposit fees for any digital asset Withdrawal fees for digital assets depends on the asset. This fee is determined by the blockchain network fees and may vary depending on network usage. 60+ Crypto assets, including Bitcoin and Ethereum. If we compare the staking and interest programs of the two exchanges, Voyager offers better rates at up to 12% with no lockups or opt-in required, while Gemini's Gemini Earn product requires lockups and offers lower rates. Feel free to shoot me a message on Facebook if you would like to get in touch and talk about the emerging crypto world. Voyager is a cryptocurrency broker that began in 2017. Why not sell USDC to USD (should be 1:1) trade. 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). CultOfMoney.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. 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. With that said, the additional fees on Voyager average 1.5%. 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 main disadvantage of Voyager is that it is not a desktop based exchange with full-featured charting or trading capabilities or order book visibility for active traders. There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. I transferred $111.29 worth of USDC and then used it to buy $108 worth of Uniswap tokens$3 was complete. $10 minimum deposit required to open your account. . Youll need to send your email to rewards@investvoyager.com.

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