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This is different from most exchanges that prioritize desktop support. 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. All trades can only be done against the USD (more on that later). Voyager Network Fees on Withdrawals Can anyone tell me what the network fees are for withdrawing ETH and BTC from Voyager? Those are very high fees. Withdrawal fees on Voyager vary depending on the cryptocurrency you want to withdraw. 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. Paid non-client promotion: In some cases, we receive a commission from our partners. When you do a bank transfer with Voyager, they connect to your bank account using Plaid. and our Your email address will not be published. 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. BlockFi has over 225,000 users and $15 billion assets under management. We have realized the quickest way to grow is to talk with our readers. SMS verification is the default method. Like many other people, I have been burnt by shady companies in the past. Thanks yall. 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. Voyager earns money from the spread between the price at which you submit your order and the price at which the platform executes it. You only need $10 to trade cryptocurrencies at Voyager. Spread fees are incurred when an order is filled by the exchanges matching engine. Trading Minimum: There is a minimum trade size of $10USD. Rewards are earned in USDC. 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. Get the latest tips you need to manage your money delivered to you biweekly. Also keep in mind that Celsius updates its yields once a week, while Voyager once a month. However, Voyager still lacks the brand presence that Coinbase has achieved. Our Rating: 2.00 stars. Whenever I connect to my bank account, I have an extra checking account that I only use for suspicious platforms. Heres how Voyager stacks up against two popular U.S. cryptocurrency exchanges: Spread fee that's applied when Voyager is able improve the price of your order, $0.99 to $2.99 or 1.49% of trade (over $200). Fees for withdrawing crypto may not be a concern if you're planning to "buy and hold" your assets for a long period of time. Gemini is free up to a certain amount of withdrawals as is Celsius. The company made the decision to go public early in company history, which was an unconventional choice for a crypto company. I don't see them dropping them unfortunately. No way around it. However Voyager does offer coins not available on Celsius. All customer assets are currently frozen as of July 2022. Everyday there is a post about these crazy over inflated withdrawal fees, Modified on: Thu, Mar 18, 2021 at 12:48 PM. There isn't a gain or loss on selling usdc, so I don't think there's any tax issue to worry about. And interest is paid out weekly, a clear advantage over competitors who do it monthly. International users who can use FTX International may prefer FTX for these reasons over Voyager. Comments are solely the opinions of their authors. Its only available on mobile devices. So if you buy and sell a coin thats a 3% fee which is outrageously high and it doesnt make any sense why you would use this appunless you thought that there were no fees and all trades were commission free. However withdrawal fees could be better and are quite standard, coming in at $5-10. The Invest Voyager App uses Plaid to connect to your bank accounts so you can securely transfer money. Platform. Crypto.com is $25 for a usdc withdrawal. Zero fees, we all love the sound of that. 2021 Whiteboardcrypto.com. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. This reward is paid monthly, and even though 0.5% to 1.5% might sound insignificant, this could be a handsome sum depending on how large your Voyager portfolio is. Voyager gives investors 4.6% APY on ETH for a minimum of 0.5 ETH balance. 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. While Celsius excels at being a lending platform, providing users with the higher yield. Voyager and Geminibothhave the following in common: huge crypto selections, low minimums, and crypto services for institutions. We're proud of our content and guidance, and the information we provide is objective, independent, and free. Voyager also has a limited selection of educational support for beginner traders. Whenever you have a problem and call for Celsius customer support, they will be very slow to respond. This is how Proof-of-Stake (PoS) cryptocurrencies like Algorand and Cardano operate versus something like Bitcoin, which relies on mining and Proof-of-Work (PoW). 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. Voyager is also planning to expand to Canada and Europe in the near future. Voyager also uses Plaid to connect to your bank. You will be able to trade over 50 cryptocurrencies, though you can only collect interest on 20. Compounding Interest On Celsius your interest earn will also earn interest, thus compounding. Voyager pays you $25 in free Bitcoin if someone you refer funds their account and spends at least $100. Voyager supports over 60 digital assets and lets you buy, sell, and manage your cryptocurrency portfoliofrom its mobile app. 35 BQX/VGX to withdraw a vgx token. Cash is FDIC-insured but Voyager doesnt carry any insurance for cryptocurrencies. Owning certain amounts of VGX places you into different tiers, which unlocks perks like referral bonuses and bonus cryptocurrency. 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. I'm still fairly new, what other use is there for stable coins beyond earning interest on the exchange? However, the effective fees are still smaller than paid at other major exchanges such as Coinbase. The bid and ask prices can have a spread up to 3%. That 3% makes a BIG difference in your trades. Median: 4.5 DOGE ($0.36). 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 . Limit Buy/Sell: Whenever you try to buy or sell a cryptocurrency using the Voyager app, it automatically defaults to Market Buy/Sell. 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. 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. Voyager practices extensive security with 2-FA enabled for all user accounts with SMS by default, but users are encouraged to change this to an authenticator app due to the risk of SIM swap attacks. Very annoying. At The Cult of Money, we want to help you navigate your finances. What Is The Sandbox And How Can You Play? What Do They Offer? I know Voyager charges 0.01 ETH and 0.0004 BTC to withdraw but thats their own fee. CultOfMoney.com strives to keep its information accurate and up to date. You'll have to select both the asset and the amount you'd like to withdraw to your crypto wallet. This tells me that Voyager app is rolling their fee into every order. Voyager also offers a debit card with up to 9% cashback so there is no shortage of crypto financial services. Voyager does disclose its security protocol, but we can assume its similar. Voyager was founded in 2017 and is based in New York City. 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. Never want to use app again and now no use for the USDC. 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. Voyager also offers a Mastercarddebit cardwith 9% cashback rewards and allows users to spend their USDC balance like cash. Why not sell USDC to USD (should be 1:1) trade. 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. If you want to earn interest on the Voyager app with your cryptocurrency, youll need to meet the minimum balance. Comments may be held for moderation and are subject to approval. My real bank account with my actual funds never gets connected to these sites. 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. Voyager has a help desk to assist customers with basic account questions. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 5 Stars, 3.89 I am a big-time crypto enthusiast and I am proud to be a part of the project. Overall, Voyager uses excellent security features and is a great mobile exchange/app with a great reputation. 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. 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. Personal Finance Insider's review of eToro. There have been reports in the past of users having had to wait several days for withdrawals of crypto assets due to surges in demand during 2021, however this has since been resolved. No option to purchase crypto with a credit or debit card, A user who had used the exchange for a few months. Interest is paid monthly. Both Voyager and Celsius have their native tokens, which can be seen as investments. This will make it easier for the IRS to discover your taxable obligations. This fee is determined by the blockchain network fees and may vary depending on network usage. So it was like a free transfer with extra money lols. 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. The Cult of Money does not include all companies or offers available in the marketplace. Coinbase is better in all aspects of functionality and range of trading coins and products offered if compared to Voyager, since it is more of a desktop-first exchange compared to Voyager being a mobile-only exchange. Users personal information is secured via state-of-the-art security protocols, including the transmission of data via HTTPS with SSL/TLS and the storage of data on a secure AWS cloud server that is encrypted at rest. 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. CaptainAltcoin.com 2022 - All Rights Reserved Youll need to send your email to rewards@investvoyager.com. USDC is $20, for example. Crypto back rewards also secure better prices on trades and pays you with bonus VGX at the end of each month. 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. Unlike other exchanges, there are no lockup periods required with this program. The app supports bank transfers up to $5,000. 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. In the US. So, in theory, if something happens, you can expect to get your money back. Its important to note that Celsius rewards CEL holders with a proportional share of 80% of its profits. Our partners compensate us. Tom Blake is a personal finance writer with a passion for making money online, cryptocurrency and NFTs, investing, and the gig economy. The Invest Voyager exchange is only available via APP. Unfortunately Voyager only offers a mobile app which is bummer for those whod rather trade on their computer. One of the downsides of Voyager is the limited ways that you can use it. 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. There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees. 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. This means that if Voyager is hacked or you lose access to your account through a crypto scam, youre probably out of luck. It also analyzes other factors, including time in business, type of business, customer complaint history, licensing and government actions, and more. FTX is known for its extensive futures pairs and top-class matching and liquidation engine for advanced derivatives traders, while Voyager only offers basic buy/sell functionality with basic market/limit orders so it is not suited for anything beyond casual spot trading, but rather better suited for investing. Shares have been halted as a result. It is not anyones responsibility to ensure all posts and/or questions are answered. Coin Lowest Average Median They do! Its the only way to get the Voyager $25 sign-up bonus. They also advertise that they are actively trying to prevent hacking and fraud. Staking involves locking up cryptocurrency to help validate transactions and earn crypto rewards. If you think that's expensive, check binance fees. Both have their pros and cons but which one should you choose? I transferred $111.29 worth of USDC and then used it to buy $108 worth of Uniswap tokens$3 was complete. Im wanting to know if theres an additional network fee charged on top of the Voyager withdrawal fee and how much it is. Hidden fees (1% to 3%) are rolled into your orders. But Voyager offers a simpler interface, so it could be a better choice for beginners or those who prioritize ease-of-use. 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. Create an account to follow your favorite communities and start taking part in conversations. 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. Supported Crypto Assets. They also offer their service on a mobile app so you access them wherever you are. 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. In fact, what inspired us was our grandparents - they didn't understand crypto. The $25 BTC Voyager sign-up bonus was received in my account several hours after I deposited $100 to my Voyager crypto app account. 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. Then, the user should select the asset the user wishes to sendeither crypto or fiat. Celsius uses a security system called multiparty computation (MPC) to keep your holdings safe. Celsius offers 6.2% APY for your first BTC and 3.51% for any additional BTC. This will allow Voyager to verify your identity. All trades can only be done against the USD (more on that later). Voyager Token $0.32809887-0. . I highly recommend getting an additional bank account for this very reason. The buying and selling experience is very bad on Voyager. The company has been around since 2014 and was founded by the same team behind popular cryptocurrency exchange platform Changelly. This means Voyager lets you place trades and uses its tech Smart Order Router to let you buy cryptocurrencies from various exchanges at the lowest prices possible.Because of this technology and commission-free structure, Voyager is a cost-effective way to invest in cryptocurrency. 5 Stars. Voyager manually approves all withdrawals as part of the AML process, so all withdrawals may take up to 24 hours. 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. 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. $20 for each Vanguard mutual fund in each account. 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. To sign up for Voyager, you first download the app for Android or iOS. They do apply. Funding Your Account: You can fund your Invest Voyager crypto account with cryptocurrency or with a bank account. Once Voyager verifies your account, you get an email and app notification that you can begin trading. All content on CaptainAltcoin is provided solely for informational purposes. That's not what its made for. Gemini offers 62 coins and 86 trading pairs which is similar to the amount offered by Voyager. Celsius will pay investors interest once a week, every Monday. 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). At first, it was listed on the Canadian TSX.V (Toronto Venture Exchange) stock exchange under the symbol VYGR.V. You can also improve your account security by: In its risk disclosure, Voyager notes that cryptocurrency isnt FDIC-insured or protected by any form of insurance. 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 allows the purchase of cryptocurrencies from a wide array of exchanges,. Users can withdraw from the wallet by navigating to the Transfer Cash or Crypto page under the Account icon on the bottom of the app interface. Does this workflow make sense? 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 dont trust the Voyager app, I completely agree. First, youll need to use the Voyager affiliate link to access the site and download the app. For select stablecoins, Voyager may charge a withdrawal fee equivalent to $35. To do this, many or all of the products featured here may be from our partners whom we receive compensation from. CaptainAltcoin.com does not offer any sort of financial or investment advice. But Voyager isn't exactly an exchange. The only fees you will bear for deposits depend on your bank and the crypto you choose to deposit. The best example of their commitment to education is Node, their blog as well as their newsfeed. There is a small flat fee to withdraw crypto to an external wallet. Search. US users trading at FTX US need to do KYC procedures and likewise for Voyager. Press question mark to learn the rest of the keyboard shortcuts. If you want to sign-up for the Voyager crypto app, you can use my Voyager promo code for a $25 sign up bonus. 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.