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. According to Voyager, additional perks like withdrawal discounts and cryptocurrency cash back are also coming. Other disadvantages of Voyager include the fact that there are no crypto-to-crypto trading pairs and the exchange may involve a long verification and/or waitlist period to create an account due to demand. What Are VeeFriends And Are They Worth It? This tells me that Voyager app is rolling their fee into every order. Responses have not been reviewed, approved or otherwise endorsed by any company. Rewards are paid out as the same cryptocurrency you deposited, and Voyager pays rewards on the fifth day of each month. of Voyager charges the following deposit, withdrawal, and other fees: Withdrawal fees for digital assets depends on the asset. What this essentially means is that you can compare different spreads and liquidity among crypto exchanges. At the Voyager crypto app LIMIT Buy/Sell page, it will NOT show you the current ask/bid prices. 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. 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. For example, the earnings reward boost pays you an annual reward percent boost on various cryptocurrency assets Voyager supports. 5 Stars, 3.89 Exchange Withdrawal Fee Minimum Withdrawal Amount; $1.52. Voyager vs Coinbase: Fees, Features & Security Compared Best Crypto Signals (Telegram & Discord) Are Crypto Groups Worth It? KYC is required. $10 minimum deposit required to open your account. The mobile exchange offers over 80 crypto assets commission-free with full buy and sell functionality, but the trading interface cannot compare to one of a desktop exchange as the charting capabilities are limited, so Voyager is definitely suited better for investors or casual spot traders who are charting elsewhere. Heck no. But other than that Celsius is fee-free and withdrawals are unlimited. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. On the other side is Voyager crypto that started operations back in 2017. If you're interested in crypto investing, you may want to consider other crypto exchanges. Platform. Firstly, a word of advice. Its listed on the Canadian Stock Exchange, under the ticker symbol VYGVF. SecuX V20 & W20 Review Is This Hardware Crypto Wallet Safe & Legit? You have to select LIMIT as another page at the top. 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. Required fields are marked. How To File A Complaint Against A Crypto Exchange [Crypto Regulators], Copyright 2023 | Cult of Money | Privacy Policy | Terms of Service. You should not use voyager if you're planning on using it as a conduit to transfer to cold storage. The bid and ask prices can have a spread up to 3%. Withdrawals: When you want to withdraw your money, you will need to pay a fee that varies between each coin. All Rights Reserved. According to his LinkedIn page, he has 25 years of experience running organizations. How Much Are Voyager Withdrawal Fees? What Happened To Voyager? Whats the deal? US users can use the exchange unless they are residents of NY state. Voyager pays you $25 in free Bitcoin if someone you refer funds their account and spends at least $100. 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. Learn more about the difference between PoS and PoW.Jargon aside, the takeaway is that staking lets you earn passive income with your cryptocurrency. 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. For example, you might want to use Authenticator. If you dont trust the Voyager app, I completely agree. Because Voyager is regulated in the United States, it has certain perks in terms of security. These include Gemini Wallet, Gemini Pay, Gemini Custody, and multiple other trading platforms. 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. Voyager is a US mobile-based cryptocurrency exchange that launched in 2018. Voyager vs. Coinbase: Which Is Right for You? - The Motley Fool 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. Voyager follows KYC requirements. And they are large enough that they are difficult to find on their website, if they are still there. Invest Voyager is designed to make purchasing and selling Bitcoin and other cryptocurrencies as easy as possible without any fees. In fact, what inspired us was our grandparents - they didn't understand crypto. Voyager vs Celsius vs Crypto.com: No Fee Crypto Apps for Free Mobile Voyager also pays bug bounties to incentivize users and white hat security experts to report potential security flaws. Thats why it also offers free crypto education, so that traders know what theyre getting into. Voyager and CoinLedger bring free tax tools to Voyager customers for the 2022 tax year. How to Deposit and Withdraw Crypto to Your Voyager Account Navigate to your Account page by selecting the icon in the top right corner of your Market screen. Binance Fees: A Full Breakdown of How To Reduce Costs - GOBankingRates Average: 11.3516 DOGE ($0.92). Along with services tailored for retail investors, Voyager also offersinstitutionalclient services that leverage the crypto trading technology behind the Voyager retail app. Unfortunately with Voyager if theres an issue with your money, youll have to jump through hoops to talk to someone that might help. 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). Comment Policy: We invite readers to respond with questions or comments. Voyager is a cryptocurrency broker that began in 2017. For example, previous withdrawal fees have included 0.0005 BTC and 35 USDC. Hidden fees that are rolled into every market buy, market sell, limit buy and limit sell. Compounding Interest On Celsius your interest earn will also earn interest, thus compounding. I know, pushing my own Voyager referral code, right? 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 Rights Reserved, Voyager Review (Crypto Exchange + Fees + Coin List), Binance.com Review (Crypto Exchange Review + Fees + Coin List), KuCoin Review (Crypto Exchange + Fees + Coin List), Upbit Review (Crypto Exchange + Fees + Coin List), OKX Review (Crypto Exchange + Fees + Coin List), Not every asset that is available for purchase can be withdrawn, Crypto assets: deposits and withdrawalsno deposit fees. However, Voyager still wins in the fee department by offering 0 trading fees. Unfortunately Voyager only offers a mobile app which is bummer for those whod rather trade on their computer. 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. Additionally, Voyager may lend, sell, invest, or use your deposited funds in various ways, which presents risk. 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. Voyager has a help desk to assist customers with basic account questions. Please note that some links on CaptainAltcoin.com are affiliate links. USDC is $20, for example. The current fee for transfers are: $22 to withdraw bitcoin, at the current price, is a lot. You only need $10 to trade cryptocurrencies at Voyager. 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. By changing interest so often investors who for example were expecting a 10% interest and end up with 8% are going to be let down. 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. Features: 100+ cryptocurrencies, 0.50% interest for holding min. Voyager gives investors 4.6% APY on ETH for a minimum of 0.5 ETH balance. Voyager earns money from the spread between the price at which you submit your order and the price at which the platform executes it. 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. This project aims at providing people with fast transactions and low fees. Since Voyager is a cryptocurrency broker, it shares some features with cryptocurrency exchanges and lending platforms. Meanwhile Celsius has awful trading fees as its not what the company specializes in. While Voyager thrives on simplicity, Celsius focuses more on security and stability. I'm still fairly new, what other use is there for stable coins beyond earning interest on the exchange? You should not use voyager if you're planning on using it as a conduit to transfer to cold storage. The buying and selling experience is very bad on Voyager. New comments cannot be posted and votes cannot be cast. They also offer their service on a mobile app so you access them wherever you are. Additionally both companies have no additional insurance on the funds and only offer a government backed $250k on USD and not crypto. Verified account Protected Tweets @; Suggested users Does the mean when you transfer your crypto to another wallet theres is a fee? This is different from most exchanges that prioritize desktop support. You will also need to provide your social security number. Voyager doesn't charge a fee for using ACH transfer for cash. This should happen automatically. Voyager lets you buy over 60 digital assets right from its Android or iOS app. Only USD Pairs: Some people like to sell their altcoins for BTC or ETH. However theres a catch, users have to first convert their crypto to USD, which unfortunately is a taxable event. Press J to jump to the feed. Withdrawal fees on Voyager vary depending on the cryptocurrency you want to withdraw. Voyager Review | Features, Pros & Cons, & Pricing - Cult Of Money Binance is the leading global crypto established exchange by trading volume, offering a much larger selection of cryptocurrencies than Voyagerover 351 coins and over 1300 pairs. US users may prefer Kraken for its regulatory compliance and strong track record if they are traders especially. Its been that way for quite a while. This can be pretty steep for some of the coins. Join our discord now, we are online! This ensures that they will need to meet regulatory scrutiny. Voyager is currently open to everyone in the United States. It is not an offer to buy or sell any security, product, service or investment. BingX Review Is BingX.com Copy Trading Any Good? 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. We aim so create all our content so that even they can understand it! The technology automatically connects with dozens of other exchanges and allows you to pick the best. . Read our editorial standards. However, you still pay a spread fee. The company describes itself as a broker that facilitates trading through its routing technology. Voyager also offers a competitive loyalty program that rewards holders of the native token VGX (Voyager Token) with special Voyager Debit Card bonuses, like a monthly rewards booster, crypto-back on purchases, and more. 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 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. Supported Crypto Assets. What Do They Offer? Click here to see the list of withdrawal fees for cryptos. 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. The main difference between these two projects lies in how they are designed. Youll want to see the current bids so you know how much to set your price. The same goes for maximum deposits. This fee is determined by the blockchain network fees and may vary depending on network usage. Voyager Network Fees on Withdrawals Can anyone tell me what the network fees are for withdrawing ETH and BTC from Voyager? Voyager Network Fees on Withdrawals : r/CryptoCurrency - reddit That's a big deal, as it means that they didn't clearly keep customer asset separate. One compelling Voyager feature is its cryptocurrency rewards. Voyager and Gemini are similar in being US-compliant exchanges with full-featured mobile apps and a basic range of crypto financial services offered. In addition, it supports over 100 cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dash, Ripple, etc. 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. Its common to be wary before trying a new platform. 2021 Whiteboardcrypto.com. Voyager Frequently asked questions (FAQ), Fee-only vs. commission financial advisor, See a complete list of Voyager's supported coins and crypto assets here, Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services , American Express High Yield Savings Account. Those are very high fees. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. So it may in some cases be the platform of choice. If you think that's expensive, check binance fees. 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. Voyager Review : Is it Safe or Legit? 2023 - CoinCodeCap 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. How can you make your account more secure? Youll need to send your email to rewards@investvoyager.com. 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. I don't see them dropping them unfortunately. 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. 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. When you do a bank transfer with Voyager, they connect to your bank account using Plaid. 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. Press question mark to learn the rest of the keyboard shortcuts. So it was like a free transfer with extra money lols. However, if users desire a clear fee schedule, Binance is better, since Voyager charges fees on the spread that are not clearly defined. 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. But this isnt JUST a selfish request. But its promising that Voyager is expanding its offerings and also rewarding VGX token holders. Withdrawals: There are minor minimum withdrawal limits, but no maximum ones. 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. 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. Fee is only 4 ADA to withdraw, cheapest I've found so far. Currently, Voyager is available in every U.S. state except New York. I wouldnt say that Voyager is a scam, but I would say their business practice is not in the best interest of their customers. 60+ Crypto assets, including Bitcoin and Ethereum. See a complete list of Voyager's supported coins and crypto assets here. First, they are listed on the Canadian Stock Exchange. Median: 4.5 DOGE ($0.36). Privacy Policy. However, if youre buying VGX to get into the Voyager loyalty program, automatic staking is an extra perk. Also, all the people listed as involved in the company have experience with this kind of organization. International users looking for lending, borrowing, and staking options, or institutional clients looking for other features may find other competitors more valuable as Voyager is only available for US users outside of NY state, and those in US territories, but the exchange has plans to expand to Canada and Europe later this year. 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. Voyager Quietly Deleted Wording Saying Customer Dollars Safe if - Vice The winner here is clearly Celsius. Hidden fees (1% to 3%) are rolled into your orders. There are some very high fees hidden into the Buy/Sell Spreads that can range from 1% to 3%. Press question mark to learn the rest of the keyboard shortcuts. For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. Thanks! Your order will automatically be rejected if you try to put in a trade worth less than $10. You will need to wait for your funds to clear before you will be able to withdraw them. They use a third-party app exchange for it, so its to be expected. It's a flat fee that won't increase as your account assets grow. Your email address will not be published. Trading if professional cannot be done on a small sized screen like a mobile phone, Voyager clearly cuts a substantial part of the market out by not offering this functionality. 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 ? Yes, KYC verification is mandatory at Voyager as it is a regulated public company and US-compliant exchange. What platform appeals to you, Celsius or Voyager? 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 . 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. 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. However, Voyager doesn't let you utilize margin accounts or futures trading (futures are contracts that give you the right to buy or sell an asset at a certain price on an upcoming date) like Kraken does. There are no further account tiers or limits. I used LTC to withdraw for this reason ($2 fee), and actually glad it took long cause it went up in price by the time it went through. But Voyager isn't exactly an exchange. Other competitors to Voyager include Crypto.com which also offers a similar full-featured app and crypto financial services, Kraken, and Gemini. 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. SMS verification is the default method. 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. Insert your personal details through the app and youre good to go. What coins can you earn interest on with Voyager? Like any company, Voyager will need to find a way to make money. Can anyone tell me what the network fees are for withdrawing ETH and BTC from Voyager? 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. You can do that completely for free and I made a video tutorial on that. Users may also opt out to earn interest in the app settings. Though Voyager's cryptocurrencies are commission-free, the app makes money (known as the "spread fee") when you save money on an order. You will be able to trade over 50 cryptocurrencies, though you can only collect interest on 20. then withdraw via ACH for no fees. Then youll need to go through the detailed verification process so have your ID ready. I am a big-time crypto enthusiast and I am proud to be a part of the project. Voyager charges no fees on trading commissions, but instead marks up the spread (bid/ask prices) by a very small amount for executing orders. So I checked my bank and the $5000 is in my account. If you dont see a cryptocurrency listed in the table, try the full list on the website. Like all public companies, they will be audited. Plus, you can earn up to $40 per referral through Voyagers loyalty program. Voyager also recently filed for bankruptcy. This round is close but Celsius comes out on top providing higher yields around 1-3% over the board. Shares have been halted as a result. 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. But Gemini offers more services. The Invest Voyager App uses Plaid to connect to your bank accounts so you can securely transfer money. The Invest Voyager exchange is only available via APP. When your giving out your personal information, freezing your credit report can save your identity from being stolen. Limit Buy/Sell: Whenever you try to buy or sell a cryptocurrency using the Voyager app, it automatically defaults to Market Buy/Sell. Celsius will pay investors interest once a week, every Monday. Voyager. 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. 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. Our opinions are our own. Trading Minimum: There is a minimum trade size of $10USD. Withdrawing fiat is free. 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. 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. I know Voyager charges 0.01 ETH and 0.0004 BTC to withdraw but thats their own fee. Additionally, Voyager states that loyalty program members will eventually earn cryptocurrency cash back for spending. $0 commissions (excluding the fee Voyager earns when it beats its quoted price) Availability. No option to purchase crypto with a credit or debit card, A user who had used the exchange for a few months. 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? Finally, the user clicks the Submit button, opens his or her email, and confirms the withdrawal. Ethereum On Celsius you'll earn a 5.35% APY on your first 100 ETH and 5.05% for any amount over that. This is what you would expect in the cryptocurrency interest account industry. The best features of Voyager include the commission-free trading making it the most competitive US-regulated exchange option on the market, however users should note that Voyager does change the spread (bid/ask) and users may pay slightly more for assets as a result or get paid slightly less when selling them than market price. Staking involves locking up cryptocurrency to help validate transactions and earn crypto rewards. 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. Both platforms excel in their simplicity. Top 7 Best Crypto Exchanges of 2023 Benzinga Crypto Then, the user should select the asset the user wishes to sendeither crypto or fiat.