I do not plan on doing that . Better Business Bureau ratings usually range from A+ to F, but the BBB has given Voyager an F for multiple reasons: (1) the platform failed to respond to 157 complaints, (2) it received 185 complaints, (3) it's received multiple government actions, and (4) it never resolved two complaints that customers filed against it. Comments are solely the opinions of their authors. With support for over 60 cryptocurrencies and commission-free trading, its also very beginner friendly.But just like picking the right brokerage account, you need to find a cryptocurrency broker that has the features you need. 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. Learn more here. CEL holders receive in airdrops 80% of the networks profits. . The buying and selling experience is very bad on Voyager. 3.03548281 VGX Read our editorial standards. Plus, you can earn up to $40 per referral through Voyagers loyalty program. Like we already discussed in detail Voyager also provides users the opportunity to earn interest with their crypto holdings. Voyager is made for people to easily buy and sell crypto and to keep it safely in voyager for interest. However, there are a few other options to explore. However, if you're transferring FIAT through wire transfer at Voyager then you'll have to pay a $50 fee. Can anyone tell me what the network fees are for withdrawing ETH and BTC from Voyager? Heres how Voyagers loyalty program works: VGX is currently trading at around $5, down from a high of around $6.80 in early 2021. When you do a bank transfer with Voyager, they connect to your bank account using Plaid. CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. At The Cult of Money, we want to help you navigate your finances. This is the same system Coinbase and most exchanges use. Voyager also offers a debit card with up to 9% cashback so there is no shortage of crypto financial services. Save my name, email, and website in this browser for the next time I comment. Heck no. Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). What platforms can you use Voyager on? Voyager Network Fees on Withdrawals Can anyone tell me what the network fees are for withdrawing ETH and BTC from Voyager? Insert your personal details through the app and youre good to go. In 2021, Voyager announced its approval to trade on the Toronto Stock Exchange (TSX) under the ticker VOYG. The withdrawal limits are as follows: $25K maximum market value on withdrawals within a 24-hour period, and a maximum total of 20 withdrawals in a 24 hour period. 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. IMPORTANT UPDATE:Voyager has declared Chapter 11 bankruptcy, and they have announced they don't have enough assets to make their customer deposits 100% whole. The sender is responsible for paying network fees associated with the transaction; each blockchain has its own cryptocurrency that . Theres also a support contact form. Hidden fees that are rolled into every market buy, market sell, limit buy and limit sell. We have realized the quickest way to grow is to talk with our readers. There are multiple interviews and profiles with them. An advantage for high volume traders will be the volume-tiered fees at Coinbase, which decrease most rapidly over $20M in 30-day trading volume. Open orders are only available in your transaction history, The interest rates are lower than competitors like. Its important to note that Celsius rewards CEL holders with a proportional share of 80% of its profits. 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. Voyager is also planning to expand to Canada and Europe in the near future.Overall, Voyager aims to simplify cryptocurrency investing. I remember a few years back $20 USDT was a pretty common withdraw fee across the board. 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. I would recommend a bank transfer, because it costs you money to send cryptocurrency. According to Voyager, additional perks like withdrawal discounts and cryptocurrency cash back are also coming. Voyager is also planning to expand to Canada and Europe in the near future. Voyager raised over $100 million under private funding. of 4,000 DOGE, and FDIC insurance on USD holdings. Our Rating: 2.00 stars. I wouldnt say that Voyager is a scam, but I would say their business practice is not in the best interest of their customers. Then use USD to buy VGX. Thanks! Firstly, a word of advice. That's a big deal, and highlights the huge risk of Voyager. Coinbase also offers about 6x the selection of trading pairs as is offered at Voyager, with 440 trading pairs, compared to 80 at Voyager, as well as advanced charting, accessible order books, and advanced order types. Your referral also gets $25 in free Bitcoin.This is a very competitive referral program. Join our discord now, we are online! If you're interested in crypto investing, you may want to consider other crypto exchanges. But whats great is the fee-free withdrawals whenever you wish. Select " Transfer Assets " and then choose if you want to deposit or withdraw crypto to your Voyager account. Meanwhile Celsius has awful trading fees as its not what the company specializes in. Voyager is currently open to everyone in the United States. Coinbase Pro has fees at 0.5% which is high, but makes up for it with the lower withdrawal fees. For customers who desire to trade and invest in stocks in addition to top cryptocurrencies and do not mind having a smaller selection from which to choose or only desire access to the top 20 cryptos on the market, Webull and Robinhood are brokers that offers US equities and a small selection of cryptocurrencies. 2021 Whiteboardcrypto.com. The data is only accessible to those at Voyager who need to know the information for a particular business purpose. 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. Commission and Fees. And for outgoing wires, there's a minimum withdrawal amount of $10,000 and a fee of $50. Both have their pros and cons but which one should you choose? For example, the earnings reward boost pays you an annual reward percent boost on various cryptocurrency assets Voyager supports. What this essentially means is that you can compare different spreads and liquidity among crypto exchanges. This is the same technology many leading fintech apps use and it helps keep your data secure and private. The fact that Voyager is undergoing bankruptcy means it's not a product we recommend. When your giving out your personal information, freezing your credit report can save your identity from being stolen. Affiliate partners cannot pay CaptainAltcoin to guarantee favorable review or higher ratings on the website. $10 minimum deposit required to open your account. My job with Captainaltcoin is the content editor and content writer position. Earn 3.50% Annual Percentage Yield (APY) with no account minimums or monthly fees. 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. Responses have not been reviewed, approved or otherwise endorsed by any company. The withdrawal options including the blockchain network and any associated fees will then populate on the screen. The app is also ideal for institutions in need of order execution and custodial crypto services. US users can use the exchange unless they are residents of NY state. 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. Gemini is free up to a certain amount of withdrawals as is Celsius. There isn't a gain or loss on selling usdc, so I don't think there's any tax issue to worry about. Finally, you can use the in-app support option to submit a support ticket. Its safe to say that this round is a draw. of But fees vary for each platform. Compounding Interest On Celsius your interest earn will also earn interest, thus compounding. 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. Voyager is tailored to all traders, in particular beginners. Yes. However, the effective fees are still smaller than paid at other major exchanges such as Coinbase. Voyager and Geminibothhave the following in common: huge crypto selections, low minimums, and crypto services for institutions. Your order will automatically be rejected if you try to put in a trade worth less than $10. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. Its only available on mobile devices. The Invest Voyager App uses Plaid to connect to your bank accounts so you can securely transfer money. Meanwhile, FTX is known for catering to active derivatives traders and optimizing for high order volume and trading execution speed. Our opinions are our own. *Note: Voyager recently filed for Chapter 11 bankruptcy. 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. This ensures that they will need to meet regulatory scrutiny. Tom Blake is a personal finance writer with a passion for making money online, cryptocurrency and NFTs, investing, and the gig economy. The bid and ask prices can have a spread up to 3%. Voyager is a US mobile-based cryptocurrency exchange that launched in 2018. That's like paying $30 to $35 to take money out of an ATM. They use a third-party app exchange for it, so its to be expected. Voyager is also publicly-traded like its competitor Coinbase.Voyager supports over 60 digital assets and lets you buy, sell, and manage your cryptocurrency portfolio from its mobile app. Unlike other exchanges, there are no lockup periods required with this program. Earn passive rewards by depositing cryptocurrency and staking, Earn interest by depositing crypto or staking VGX tokens, USD is the only way to purchase cryptocurrency, Learn more about the difference between PoS and PoW. You might need to provide your drivers license. It is only a matter of time before VGX will be offered on a Celsius or Voyager as collateral. Thats very high! Additionally, some users have been unhappy with Voyager's spreads and have complained that limit orders are often more expensive than market orders. Limit Buy/Sell: Whenever you try to buy or sell a cryptocurrency using the Voyager app, it automatically defaults to Market Buy/Sell. Binance also offers a more extensive web and ecosystem of products, support, and liquidity, especially given its larger daily volume as compared to Voyager. However withdrawal fees could be better and are quite standard, coming in at $5-10. Voyager supports over 60 digital assets and lets you buy, sell, and manage your cryptocurrency portfoliofrom its mobile app. As mentioned, Voyager uses its Smart Order Router technology to find pricing discrepancies across various exchanges to try and beat quoted prices. The amount of taxable gain or deductible loss is the value you receive minus your tax basis in what you've given up. 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. Additionally both platforms have lackluster customer service, so theres no winner in that field. There are a few reasons why I feel this is a legitimate company. There are no further account tiers or limits. Any other fees that may apply are detailed in the Voyager Terms of Service. Voyager also comes with their own native Voyager Token. Voyager and CoinLedger bring free tax tools to Voyager customers for the 2022 tax year. 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. Bored Ape Yacht Club NFTs Are Popular (And Expensive). Unfortunately Voyager only offers a mobile app which is bummer for those whod rather trade on their computer. When does Voyager App pay interest? Whats the deal? always better to have your coins off the exchange. Voyager pays you $25 in free Bitcoin if someone you refer funds their account and spends at least $100. Rewards are earned in USDC. Whenever you have a problem and call for Celsius customer support, they will be very slow to respond. Yes. In fact, it beats Coinbase since Coinbase has the same terms but only pays each person $10 in free Bitcoin. One advantage of using Voyager versus many cryptocurrency exchanges is that its fairly low-cost. 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). While it isnt currently available, the Voyager debit Mastercard is a zero-fee, cryptocurrency rewards card thats in the pipeline.This card lets you spend USDC like cash while earning rewards on your balance. CultOfMoney.com strives to keep its information accurate and up to date. Ya, I don't get it. But Voyager isn't exactly an exchange. Often, they will do this by charging transaction fees. Voyager also pays bug bounties to incentivize users and white hat security experts to report potential security flaws. That's not what its made for. There have been no reported hacks of Voyager. Create an account to follow your favorite communities and start taking part in conversations. Also, all the people listed as involved in the company have experience with this kind of organization. KYC is required. Voyager offers access to 80+ crypto coins and USD trading pairs, for only spot trading, with commission-free trading and otherwise very low fees on a high quality mobile app platform, Intermediate to advanced traders trading margin or futures who desire access to advanced trading tools and charting would prefer to pick a different exchange especially if desiring one not requiring KYC, as Voyager is best suited for investors or more casual spot traders. The best features of Voyager are its simplicity and no trading fees. Voyager, though, is a publicly-traded company. Why not sell USDC to USD (should be 1:1) trade. Other competitors to Voyager include Crypto.com which also offers a similar full-featured app and crypto financial services, Kraken, and Gemini. At least thats what they say. 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. Comment Policy: We invite readers to respond with questions or comments. Heres a quick overview of some of the most popular options. If you dont see a cryptocurrency listed in the table, try the full list on the website. For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. This just makes sure my main bank accounts are safe from being leaked onto the internet. They do apply. Wire transfers, on the other hand, come with no transaction fee but are not available everywhere. That's a big deal, as it means that they didn't clearly keep customer asset separate. Very annoying. 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. That means if you have BTC and want to buy VGX, you have to sell BTC for USD. Personal Finance Insider's review of eToro. Not every Voyager user is comfortable with the Voyager fees. Withdrawals are always free and interest is compounded once a week. This will make it easier for the IRS to discover your taxable obligations. See a complete list of Voyager's supported coins and crypto assets here. However, there is a $50 fee for incoming and outgoing wire transfers, and you must transfer a minimum of $10,000 out. 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. Simply dont use Celsius to buy and sell crypto, as it wasnt designed for that. Uhhh, WTF?? 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. Continuing their insistence of accessibility, even opening an account with Voyager is laughably easy. Lets start with saying that both platforms excel at keeping fees low. 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. The responses in the comments below are not provided or commissioned by any advertiser. Since Voyager is a cryptocurrency broker, it shares some features with cryptocurrency exchanges and lending platforms. This is a better way to spend your crypto then selling it. The Voyager app is still available, and the team behind it is hopeful for. What Is Uniswap And How Do Decentralized Exchanges Work? Similarly to Voyagerm, Celsius has its own CEL token. The current fee for transfers are: $22 to withdraw bitcoin, at the current price, is a lot. So I checked my bank and the $5000 is in my account. This is different from most exchanges that prioritize desktop support. All trades can only be done against the USD (more on that later). Voyager also pays bugbounties to incentivize users and white hat security experts to report potential security flaws. Purchase Fees If you choose to buy your cryptocurrencies with a debit or credit card, you can expect to pay up to 3.75% in fees. Like many other people, I have been burnt by shady companies in the past. 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. 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. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service. BlockFi has over 225,000 users and $15 billion assets under management. As for customer support, Voyager offers a support service center users can access via logging into the app and submitting a query. Voyager also offers itsEarnprogram, which offers extremely competitive rewards (interest) on over 30+ coins that are on the exchange, with rates as high as 12% on some such as Polkadot and 9% on USDC stablecoin. 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. Voyager Digital Ltd. maintains its headquarters in Jersey City and NYC, in the USA. Thanks! Just convert to ADA if you want to keep your money in crypto. No way around it. Voyager is publicly traded, licensed, and regulated, which means the exchange is audited to ensure that every asset is accounted for in the exchanges secure system. Limit orders will have fees rolled in so you cant actually see your Limit sell ask price. After getting your account approved, just deposit $100 into your Invest Voyager account. 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. This is most notable with staples like Bitcoin and Ethereum. How To Invest In Crypto In Your IRA Or 401k, Best Tax Software For Crypto And NFT Traders. He's contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. The Voyager crypto app is available on iOS and Android devices. 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. Fee Example: if you bought and sold the exact same coin within 1 second, youd already be down 3%.