Advanced traders and intermediate users alike who value a large selection of cryptocurrencies, products like staking, lending, and more, competitive fee structures, and futures and margin products will probably prefer Binance. Also, all the people listed as involved in the company have experience with this kind of organization. I remember a few years back $20 USDT was a pretty common withdraw fee across the board. The exchange is also very simple to use since it is a mobile-only exchange with an app available on both Google Play and the Apple App Store at the moment, but there are plans to add a desktop version in the future. Supported Crypto Assets. 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. Voyager also recently filed for bankruptcy. Coin Lowest Average Median Blockfi vs Celsius Network: Safety, Interest Rates, Supported Coins, Sia Coin (SC) Price Prediction 2023 | 2025 | 2030 Future Forecast For SIA Price. out The only fees you will bear for deposits depend on your bank and the crypto you choose to deposit. Currently, the interest rate for USDC on Voyager is 9%, which is far more than you can find in any basic checking or savings account. 2021 Whiteboardcrypto.com. Interest Rates: Wholl earn you more, Celsius or Voyager? This round is close but Celsius comes out on top providing higher yields around 1-3% over the board. They also offer their service on a mobile app so you access them wherever you are. 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. BingX Review Is BingX.com Copy Trading Any Good? It's about the same to withdraw STMX, which I know is because of gas fees, but still. Shares have been halted as a result. The same goes for maximum deposits. This is different from most exchanges that prioritize desktop support. Derivatives traders who want to trade margin, extensive crypto futures pairs, or leveraged tokens and options will prefer FTX since Voyager offers only spot trading and no derivatives instruments of any kind. US users may prefer Kraken for its regulatory compliance and strong track record if they are traders especially. But we do have to make money to pay our team and keep this website running! The crypto app also lets you earn monthly interest payments for maintaining minimum balances of different cryptocurrencies, and institutional clients have access to order execution, liquidity, and custodial services. This fee is determined by the blockchain network fees and may vary depending on network usage. If you're interested in crypto investing, you may want to consider other crypto exchanges. That's a big deal, and highlights the huge risk of Voyager. 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. Best Crypto Signals (Telegram & Discord) Are Crypto Groups Worth It? Yep, Voyager has high withdrawal fees. Then use USD to buy VGX. 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. 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. If you want to sign-up for the Voyager crypto app, you can use my Voyager promo code for a $25 sign up bonus. Does the mean when you transfer your crypto to another wallet theres is a fee? Can anyone tell me what the network fees are for withdrawing ETH and BTC from Voyager? I am Petar and I come from a small country in South-Eastern Europe called Serbia. This gives you the flexibility to buy cryptocurrencies at current market rates or to set a limit order to buy a particular crypto if the price drops.Cryptocurrency you buy is held in Voyagers custodial wallet. Voyager. KYC is required. Voyager calls their withdrawal fees "small". 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? On Voyager youll earn 5.75% APY on your BTC, but you have to maintain a minimum balance of 0.01 BTC to qualify to earn any interest. One compelling Voyager feature is its cryptocurrency rewards. Overall, Voyager uses excellent security features and is a great mobile exchange/app with a great reputation. Binance also offers a more extensive web and ecosystem of products, support, and liquidity, especially given its larger daily volume as compared to Voyager. Voyager is made for people to easily buy and sell crypto and to keep it safely in voyager for interest. "@CrucibleChris Yup, sending funds between Voyager customers will not require withdrawal fees. Some withdrawal fees can be anywhere from $10-$15USD (full list here). A couple taps and you just have to wait for the order to complete. 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. Unfortunately Voyager only offers a mobile app which is bummer for those whod rather trade on their computer. Voyager also offers a Mastercarddebit cardwith 9% cashback rewards and allows users to spend their USDC balance like cash. During the sign-up process you will need to enter DAN8DE for the Voyager promo code. Thanks! Before you can open your account, you will be required to provide specific information. 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. You will have an individual cryptocurrency account. Invest Voyager is designed to make purchasing and selling Bitcoin and other cryptocurrencies as easy as possible without any fees. Beginners, buy-and-hold investors, and low volume traders may prefer the easy to use features and functionality of Voyager and Coinbase with their brand presence, US regulatory approval (both are publicly traded companies, being the only crypto companies to achieve this as of 2022), and cryptocurrency education. All products and services are presented without warranty. I am a big-time crypto enthusiast and I am proud to be a part of the project. Its listed on the Canadian Stock Exchange, under the ticker symbol VYGVF. However, if you're transferring FIAT through wire transfer at Voyager then you'll have to pay a $50 fee. Only USD Pairs: Some people like to sell their altcoins for BTC or ETH. . Up to 10% APY on over 50 cryptocurrencies, such as. Though Voyager's cryptocurrencies are commission-free, the app makes money (known as the "spread fee") when you save money on an order. I transferred $111.29 worth of USDC and then used it to buy $108 worth of Uniswap tokens$3 was complete. $20 for each Vanguard mutual fund in each account. However, if youre buying VGX to get into the Voyager loyalty program, automatic staking is an extra perk. So that 0.002585 (~$21) becomes 0.002085 ($17) by the time it hits your wallet: effectively a 20% withdrawal fee. If an order does not execute, there is no fee charged until it does execute at a later point in the case of a resting order, or it can be canceled. Plus, you can earn up to $40 per referral through Voyagers loyalty program. You might need to provide your drivers license. The best way to make sure that your account is secure is by using 2-Step Verification. You'll have to select both the asset and the amount you'd like to withdraw to your crypto wallet. Voyager also has a limited selection of educational support for beginner traders. This is 10x to 30x higher than the fees on Binance which are 0.1% per trade. This means you won't be able to decide where to execute your trades; Voyager does this for you. In other words, Voyager makes money when it saves you money on an order by executing it at a better price. 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). This isnt ideal as investors look for consistency when earning passive income on a platform. No, Voyager is a mobile cryptocurrency trading exchange and app that also offers a custodial wallet solution with interest-earning features as part of its services, but is not a non-custodial standalone wallet. CaptainAltcoin.com does not offer any sort of financial or investment advice. SMS verification is the default method. There are some very high fees hidden into the Buy/Sell Spreads that can range from 1% to 3%. Voyager has no fee trades, yes. Withdrawing 0.002585 yields an "industry standard" fee of 0.000500. There is a 1% conversion fee if the crypto is being withdrawn in fiat, and standard transaction fees for crypto withdrawals which depend on the blockchain fees. Save my name, email, and website in this browser for the next time I comment. Voyager supports over 60 digital assets and lets you buy, sell, and manage your cryptocurrency portfoliofrom its mobile app. Voyager is not recommended for anyone at this time. Additionally, Voyager states that loyalty program members will eventually earn cryptocurrency cash back for spending. Any other fees that may apply are detailed in the Voyager Terms of Service. Voyager is also planning to expand to Canada and Europe in the near future.Overall, Voyager aims to simplify cryptocurrency investing. Everyday there is a post about these crazy over inflated withdrawal fees, Modified on: Thu, Mar 18, 2021 at 12:48 PM. Why not sell USDC to USD (should be 1:1) trade. What Is Cryptocurrency And How To Invest? This project aims at providing people with fast transactions and low fees. That's like paying $30 to $35 to take money out of an ATM. Voyager gives investors 4.6% APY on ETH for a minimum of 0.5 ETH balance. For example, previous withdrawal fees have included 0.0005 BTC and 35 USDC. Both Voyager and Celsius have their native tokens, which can be seen as investments. Voyager gives investors 4.6% APY on ETH for a minimum of 0.5 ETH balance. Voyager also comes with their own native Voyager Token. Voyager and Geminibothhave the following in common: huge crypto selections, low minimums, and crypto services for institutions. This fee is determined by the blockchain network fees and may vary depending on network usage. The team also maintains ablog with news and reports. This is the same technology many leading fintech apps use and it helps keep your data secure and private. This is similar to companies like BlockFi and Celsius that let you deposit cryptocurrency to earn interest.Heres how Voyagers cryptocurrency rewards rates look for several popular cryptos and stablecoins: Rates are subject to change. This doesnt influence our evaluations or reviews. But fees vary for each platform. Rewards are earned in USDC. Fees may be slightly more competitive at FTX, since FTX offers both fee incentives for volume and for holders of its FTT token, and FTX will charge clear trading fees, not based on the spread alone like Voyager does. This is because youll save time and money when converting altcoins to BTC or ETH (and the other way around): 1 step: BTC -> DOGE / DOGE -> BTC2 steps: BTC -> USD -> DOGE / DOGE -> USD -> BTC. Altcoins Stablecoins Your order will automatically be rejected if you try to put in a trade worth less than $10. Withdrawals: There are minor minimum withdrawal limits, but no maximum ones. First, they are listed on the Canadian Stock Exchange. Founded in 2017, Voyager is a mobile crypto broker offering commission-free trading on more than 100 cryptocurrencies, with crypto services both for individuals and institutions. There are multiple interviews and profiles with them. However, you still pay a spread fee. The current fee for transfers are: $22 to withdraw bitcoin, at the current price, is a lot. At first, it was listed on the Canadian TSX.V (Toronto Venture Exchange) stock exchange under the symbol VYGR.V. Voyager Digital Ltd. maintains its headquarters in Jersey City and NYC, in the USA. The Voyager withdrawal fee differs based on the cryptocurrency you want to withdraw. What platform appeals to you, Celsius or Voyager? Finally, the user clicks the Submit button, opens his or her email, and confirms the withdrawal. Meanwhile Celsius has awful trading fees as its not what the company specializes in. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. I set a limit order for roughly $1500 and then made 2 separate withdrawals of $1000 each, and left the remaining $1500 to decide later. Join our discord now, we are online! USDC is $20, for example. Continuing their insistence of accessibility, even opening an account with Voyager is laughably easy. The main difference between these two projects lies in how they are designed. Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). He has experience helping financial companies before, working with Honos Financials. With that said, the additional fees on Voyager average 1.5%. Like Celsius, Voyager has its own token (VGX) that rewards users for their loyalty to the platform. The current fee for transfers are: $22 to withdraw bitcoin, at the current price, is a lot. Voyager and Gemini are similar in being US-compliant exchanges with full-featured mobile apps and a basic range of crypto financial services offered. It also provides an easy-to-use interface that allows users to view their accounts in real time as well as make transfers between different currencies using its own stablecoin called CELIOS. After setting a Limit Sell order as the lowest ask price, the Voyager app does not show my order! Thats very high! But Gemini offers more services. I will note, pay attention to the buying spreads on Voyager and compare to other wallet types, such as Abra, that's what really turned my attention to voyager. What Is Uniswap And How Do Decentralized Exchanges Work? This tells me that Voyager app is rolling their fee into every order. The team is a combo of Wall Street and Silicon Valley entrepreneurs who teamed up to bring a better, more transparent, and cost efficient alternative for trading digital assets to the marketplace. Voyager Token $0.32809887-0. No option to purchase crypto with a credit or debit card, A user who had used the exchange for a few months. Crypto deposits, debit card, bank transfer, Debit card, credit card, bank wire, external crypto transfer, Bitcoin, Ethereum, Link, and several others, Bitcoin, Ethereum, Litecoin, and around 60 others. As such, the app is best suited for investors or casual spot traders who dont need advanced charting functionality, or have the ability to chart elsewhere. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Because of these fees, you're better off using other payment methods. The Cult of Money does not include all companies or offers available in the marketplace. Voyager instead makes money on the spread (the bid/ask) of the coin being traded. Features: 100+ cryptocurrencies, 0.50% interest for holding min. All customer assets are currently frozen as of July 2022. For customers who desire access to a desktop-based user interface with even more trading pairs and advanced order types, and those who do not desire to participate in cryptocurrency futures trading either Bittrex, Bitstamp, Coinbase, and Binance US can make great alternatives with a similar or greater amount of cryptocurrencies offered to trade along with trading fees but also more functionality. If you want to earn interest on the Voyager app with your cryptocurrency, youll need to meet the minimum balance. It is not anyones responsibility to ensure all posts and/or questions are answered. 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. Whenever I connect to my bank account, I have an extra checking account that I only use for suspicious platforms. Yes. We may receive a commission, at no extra cost to you, if you click through our links and make a purchase from one of our partners. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com. 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. The companys Twitter account is very active. Voyager pays you $25 in free Bitcoin if someone you refer funds their account and spends at least $100. Affiliate partners cannot pay CaptainAltcoin to guarantee favorable review or higher ratings on the website. At this time, withdrawal limits on Voyager are as follows: $25,000 maximum total market value within a 24 hour period. Why would you ever sell your VGX when you will have (in the future) the chance to take a loan against your VGX for USD w/o triggering a taxable event? Exchange Withdrawal Fee Minimum Withdrawal Amount; $1.52. The best example of their commitment to education is Node, their blog as well as their newsfeed. Rewards are paid out as the same cryptocurrency you deposited, and Voyager pays rewards on the fifth day of each month. At The Cult of Money, we want to help you navigate your finances. On Celsius interest rates are not fixed, but fluctuate based on demand on a weekly basis. Voyager and Kraken also offer several similar features. All Rights Reserved. Similarly also Voyager pays out interest to investors monthly and even offers free withdrawals. That 3% makes a BIG difference in your trades. And they are large enough that they are difficult to find on their website, if they are still there. Owning certain amounts of VGX places you into different tiers, which unlocks perks like referral bonuses and bonus cryptocurrency. There are other exchanges that work better for your use case. Like all public companies, they will be audited. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with). However Voyager does offer coins not available on Celsius. No way around it. 0% (Voyager earns money if it saves you money by executing your order at a better price), $0.99-$2.99 fee for USD web and mobile transactions between $10 and $200 (1.49% fee for transactions over $200); 0.50% convenience fee; 3.49% debit card transfers. 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. Moving you crypto of any kind will result in gas and minor fees. I wouldnt say that Voyager is a scam, but I would say their business practice is not in the best interest of their customers. Press J to jump to the feed. Whats the deal? I am obviously incentivized with a $25 bonus when you sign up, using my referral link, but youll end up losing A LOT of money in fees in the long run. You will be able to trade over 50 cryptocurrencies, though you can only collect interest on 20. We aim so create all our content so that even they can understand it! I don't see them dropping them unfortunately. 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. One of the downsides of Voyager is the limited ways that you can use it. Our opinions are always our own. Hidden fees that are rolled into every market buy, market sell, limit buy and limit sell. But Voyager offers a simpler interface, so it could be a better choice for beginners or those who prioritize ease-of-use. I am just wondering when I finally do sell my VGX(in a long time after the moon landing) for cash will I be charged to take it out of the app into my Chase bank account ? Coinbase is best designed for buy-and-hold investors or casual to intermediate cryptocurrency users though has a much larger selection of cryptocurrencies offered compared to Voyager402 pairs vs. Voyagers ~80 coinsand offers an advanced desktop trading interface as well as a mobile app. There are no further account tiers or limits. Hopefully they fix this soon although they just increased the withdrawal prices last week.. You can fund your Voyager account with either cryptocurrency or a bank ACH transfer. For starters, cash is FDIC-insured up to $250,000, so your cash balance has some protection. Trading Minimum: There is a minimum trade size of $10USD. Additionally, some users have been unhappy with Voyager's spreads and have complained that limit orders are often more expensive than market orders. Press question mark to learn the rest of the keyboard shortcuts. Create an account to follow your favorite communities and start taking part in conversations. . Network: Buy Bitcoins Instantly Using Debit/Credit Card, Buy Bitcoin Anonymously (without Verification or ID). This should happen automatically. All you need to start trading is a couple minutes. 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. Instructions for withdrawing from users accounts can be found here from official support. The bureau bases its ratings on how well it thinks a company interacts with its customers. Proof Of Stake vs. I do not plan on doing that . Heres a quick overview of some of the most popular options. However I should add that problems are usually resolved; they just take way more time than youd expect from such reputable companies. The Invest Voyager exchange is only available via APP. Voyager earns money from the spread between the price at which you submit your order and the price at which the platform executes it. Does this workflow make sense? Like any company, Voyager will need to find a way to make money. It's supposed to promote a buy and hold mentality. Crypto withdrawal fees depend on the cryptocurrencies being withdrawn, and can vary between US$10-$20. Popular cryptocurrencies and stablecoins it supports include: You fund your Voyager account with USD from your bank account or cryptocurrency from another wallet. Responses have not been reviewed, approved or otherwise endorsed by any company. Lots of exchanges charge. Yes, KYC verification is mandatory at Voyager as it is a regulated public company and US-compliant exchange. The sender is responsible for paying network fees associated with the transaction; each blockchain has its own cryptocurrency that . Though Voyager charges no trading fees which is extremely competitive, it does mark up the spread (bid/ask) on each order by a small amount, so the prices at which assets may be bought and sold may differ slightly from those of other exchanges. Learn more here. 5 Stars, 3.89 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. Yes. This is the ONLY exchange that does this which is nonsense. 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. Currently, Voyager is available in every U.S. state except New York. Kraken uses a maker-taker fee schedule, starting at 0.16% maker fees and 0.26% taker fees at the entry level which is not quite as competitive even as Voyagers 0 fee schedule, however overall compared to the market it is still competitive, especially since Kraken does not charge any extra fees on the spread unlike Voyager. That's not what its made for. The company was co-founded in 2018 by now CEO Stephen Ehrlich as well as by Philip Eytan and Uber co-founder Oscar Salazer. Along with services tailored for retail investors, Voyager also offersinstitutionalclient services that leverage the crypto trading technology behind the Voyager retail app. On Voyager you'll earn 5.75% APY on your BTC, but you have to maintain a minimum balance of 0.01 BTC to qualify to earn any interest. $0 commissions (excluding the fee Voyager earns when it beats its quoted price) Availability. It is not an offer to buy or sell any security, product, service or investment. That's not what its made for. 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. Often, they will do this by charging transaction fees. Ultimately, advanced users who desire both competitive fees and a greater selection of trading products than what either FTX or Coinbase offer may find the choices below equally valuable. Please note that some links on CaptainAltcoin.com are affiliate links. So I checked my bank and the $5000 is in my account. For more information, please see our How long does it take to get the Invest Voyager Sign-up Bonus? 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 fees for signing up or for having an inactive account, nor any fees for holding funds in an account, and users may hold assets as long as desired and automatically earn interest on them without having to lock assets in a separate account or opt in. Our partners compensate us. The company has its headquarters in Jersey City, New Jersey, making it a U.S.-regulated company. . It's CEO is Stephen Ehrlich. Coinbase Pro has fees at 0.5% which is high, but makes up for it with the lower withdrawal fees. Our opinions are our own. While Celsius excels at being a lending platform, providing users with the higher yield. See a complete list of Voyager's supported coins and crypto assets here. My Invest Voyager bonus code: https://voyager.onelink.me/WNly/referral?af_sub5=DAN8DE. It has strong regulation and insurance which means its safer than many other exchanges but the downside is that those costs get passed to you via higher withdrawal fees, which for most users is a non issue. How To File A Complaint Against A Crypto Exchange [Crypto Regulators], Copyright 2023 | Cult of Money | Privacy Policy | Terms of Service. Specifically, Voyager says it takes a small spread fee when it executes an order at a better price than you, the investor, submitted.