Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available. By staking CEL youll earn up to 30% on your deposit. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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. 7 . Thats why our Voyager review is covering what Voyager offers, its fees, and how to decide if it's the right platform for you. Here's what to know about this increasingly popular digital currency before getting involved. CEL allows for discoscounts up to 30% on loan interest. Invest Voyager Review: Lots of Hidden Fees - Sly Credit 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. Voyager also comes with their own native Voyager Token. However, you still pay a spread fee. And they are large enough that they are difficult to find on their website, if they are still there. When it comes to money, theres no joking around. Voyager Review (Crypto Exchange + Fees + Coin List) Voyager Digital Ltd. maintains its headquarters in Jersey City and NYC, in the USA. But Voyager isn't exactly an exchange. Both have their pros and cons but which one should you choose? All products and services are presented without warranty. US users can use the exchange unless they are residents of NY state. Our partners compensate us. Withdrawing 0.002585 yields an "industry standard" fee of 0.000500. 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. 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. Unlike other exchanges, there are no lockup periods required with this program. This fee is determined by the blockchain network fees and may vary depending on network usage. 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. 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. Voyager vs Celsius vs Crypto.com: No Fee Crypto Apps for Free Mobile It will also make it easier for Voyager to spot any signs of fraud. If you're interested in crypto investing, you may want to consider other crypto exchanges. The actual interest earning rates for some of these coins is much lower than Nexo, BlockFi and Celsius Network. The company was co-founded in 2018 by now CEO Stephen Ehrlich as well as by Philip Eytan and Uber co-founder Oscar Salazer. However, there are a few other options to explore. He also has a CPA. And, you can stake VGX tokens and currently earn 7% in annual rewards.If you have an active Voyager account, you actually stake VGX automatically. 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. Voyager does disclose its security protocol, but we can assume its similar. He has experience helping financial companies before, working with Honos Financials. What platforms can you use Voyager on? Reddit and its partners use cookies and similar technologies to provide you with a better experience. With Voyager, you can earn passive crypto rewards on your holdings. Voyager currently supports the following crypto: Celsius currently supports the following crypto: The Voyager app is designed to be easy to use, accessible and straightforward. Instructions for withdrawing from users accounts can be found here from official support. 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. 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. 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. CultOfMoney.com strives to keep its information accurate and up to date. Never want to use app again and now no use for the USDC. Customers with crypto in their accounts will in exchange get a combination of the crypto from their accounts, proceeds from the Three Arrows Capital recovery, Voyager tokens, and common shares in the reorganized company, according to Voyager. The company claims the failure of Three Arrows Capital and the volatility in the market as reasons for this decision. 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. Any other fees that may apply are detailed in the Voyager Terms of Service. Withdrawals | Coinbase Help Voyager Crypto Review: Pros, Cons, and More - The Motley Fool This round is close but Celsius comes out on top providing higher yields around 1-3% over the board. For example, the earnings reward boost pays you an annual reward percent boost on various cryptocurrency assets Voyager supports. Plaid is a pretty common service that youll see that allows you to create a connection to your bank with their supported platforms. Withdraw $124 back into your bank account. Generally, Voyager fees allow you to only pay flat fees per token, as well as $50 for wire transfers. 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. Voyager Quietly Deleted Wording Saying Customer Dollars Safe if - Vice Press J to jump to the feed. Then youll need to go through the detailed verification process so have your ID ready. You can find the full list of supported products here. For more information, please see our Continuing their insistence of accessibility, even opening an account with Voyager is laughably easy. Voyager is tailored towards the mobile trading crowd, the zoomer buying crypto on his phone. Voyager and Geminibothhave the following in common: huge crypto selections, low minimums, and crypto services for institutions. It's a flat fee that won't increase as your account assets grow. Voyager also uses Plaid to connect to your bank. It trades in Canada and on the US OTC market under the ticker VYGVF. 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. Withdrawing fiat is free. Those are very high fees. 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. What this essentially means is that you can compare different spreads and liquidity among crypto exchanges. There is a small flat fee to withdraw crypto to an external wallet. The CEO is Stephen Ehrlich. At this time, withdrawal limits on Voyager are as follows: $25,000 maximum total market value within a 24 hour period. Hidden fees (1% to 3%) are rolled into your orders. It's about the same to withdraw STMX, which I know is because of gas fees, but still. What Do They Offer? Verified account Protected Tweets @; Suggested users Similarly also Voyager pays out interest to investors monthly and even offers free withdrawals. At least thats what they say. Binance Fees: A Full Breakdown of How To Reduce Costs - GOBankingRates Average: 11.3516 DOGE ($0.92). I highly recommend getting an additional bank account for this very reason. Voyager Crypto Review 2023 | NextAdvisor with TIME Moving you crypto of any kind will result in gas and minor fees. Save my name, email, and website in this browser for the next time I comment. Median: 4.5 DOGE ($0.36). Like Celsius, Voyager has its own token (VGX) that rewards users for their loyalty to the platform. This isnt ideal as investors look for consistency when earning passive income on a platform. Bored Ape Yacht Club NFTs Are Popular (And Expensive). 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. Withdrawals: When you want to withdraw your money, you will need to pay a fee that varies between each coin. The company describes itself as a broker that facilitates trading through its routing technology. Yes. Altcoins Stablecoins What Is Staking And How Can You Make Money With Your Crypto? Despite being mobile-focused, Voyager has an impressive number of features that help it go toe-to-toe with popular exchanges and lending platforms. The Invest Voyager App uses Plaid to connect to your bank accounts so you can securely transfer money. This means it currently costs approximately $2,500 to secure your spot in Adventurer, Voyagers first loyalty program tier.However, if youre a serious Voyager user, this price could be worth it. Comparison of cryptocurrency withdrawal fees, in nominal and fiat value. 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. The company made the decision to go public early in company history, which was an unconventional choice for a crypto company. Press question mark to learn the rest of the keyboard shortcuts. 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. Rewards are earned in USDC. Learn more here. For example, you might want to use Authenticator. The best way to make sure that your account is secure is by using 2-Step Verification. [12] Security and Trustworthiness Voyager The team also maintains ablog with news and reports. It will be compatible with both Android and iOS. According to his LinkedIn page, he has 25 years of experience running organizations. The app supports bank transfers up to $5,000. Though Voyager's cryptocurrencies are commission-free, the app makes money (known as the "spread fee") when you save money on an order. We aim so create all our content so that even they can understand it! Crypto withdrawal fees are subject to change and are regularly adjusted to reflect the cost of transacting on each network's respective blockchain. The app is also ideal for institutions in need of order execution and custodial crypto services. Once Voyager verifies your account, you get an email and app notification that you can begin trading. First, youll need to use the Voyager affiliate link to access the site and download the app. If you think that's expensive, check binance fees. 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. Specifically, Voyager says it takes a small spread fee when it executes an order at a better price than you, the investor, submitted. The company raised $100.1 million and has since gone public. BlockFi makes money on the spread and allows cryptocurrency withdrawals, while Voyager uses flat-rate transaction fees and does not allow cryptocurrency withdrawals. Voyager vs. Coinbase: Which Is Right for You? - The Motley Fool What platform appeals to you, Celsius or Voyager? This is most notable with staples like Bitcoin and Ethereum. Simply dont use Celsius to buy and sell crypto, as it wasnt designed for that. The exchange requires KYC (Know Your Customer) identity verification or document protocols to be completed for use of the exchange. $10 minimum deposit required to open your account. All customer assets are currently frozen as of July 2022. "@CrucibleChris Yup, sending funds between Voyager customers will not require withdrawal fees. 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. There are no limits on crypto deposits. For example, to withdraw BTC you will need to pay 0.0004BTC ($15USD). The amount of taxable gain or deductible loss is the value you receive minus your tax basis in what you've given up. Voyager crypto review: Fees, features & more | Finder If you want to increase your security, you may want to eventually move your funds from Voyager to a wallet like Ledger where you have full control. Yes. 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. Additionally both platforms have lackluster customer service, so theres no winner in that field. The responses in the comments below are not provided or commissioned by any advertiser. 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. One of the downsides of Voyager is the limited ways that you can use it. In fact, it beats Coinbase since Coinbase has the same terms but only pays each person $10 in free Bitcoin. Personal Finance Insider's review of eToro. 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. At least that's what they say. Voyager on Twitter: "Your funds are safe. We're working through our If you send funds to a new friend, you get the reward for sign-up once they complete the milestone!" We're proud of our content and guidance, and the information we provide is objective, independent, and free. 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 doesnt influence our evaluations or reviews. No way around it. This is different from most exchanges that prioritize desktop support. The Voyager app is still available, and the team behind it is hopeful for. But other than that Celsius is fee-free and withdrawals are unlimited. Unfortunately Voyager only offers a mobile app which is bummer for those whod rather trade on their computer. This is 10x to 30x higher than the fees on Binance which are 0.1% per trade. First, they are listed on the Canadian Stock Exchange. USDC is $20, for example. Network: Buy Bitcoins Instantly Using Debit/Credit Card, Buy Bitcoin Anonymously (without Verification or ID). Create an account to follow your favorite communities and start taking part in conversations. Because Voyager is regulated in the United States, it has certain perks in terms of security. Traders looking solely for the most advanced trading options such as high leverage margin and futures products specific to crypto only will prefer Binance, as it offers many USDT futures pairs not found anywhere else besides potentially OKX or FTX. But Voyager offers a simpler interface, so it could be a better choice for beginners or those who prioritize ease-of-use. Celsius uses a security system called multiparty computation (MPC) to keep your holdings safe. There are other exchanges that work better for your use case. You will need to wait for your funds to clear before you will be able to withdraw them. Both exchanges offer no margin trading, but Voyager easily wins in the fee department, as it has 0 commission trading fees which is much lower than at Coinbase. Up to 10% APY on over 50 cryptocurrencies, such as. While Celsius excels at being a lending platform, providing users with the higher yield. That's a big deal, as it means that they didn't clearly keep customer asset separate. 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. Meanwhile Celsius has awful trading fees as its not what the company specializes in. Voyager also has a limited selection of educational support for beginner traders. Voyager, though, is a publicly-traded company. Voyager also recently filed for bankruptcy. *Note: Voyager recently filed for Chapter 11 bankruptcy. I checked the history in voyager and the transaction had processed. There isn't a gain or loss on selling usdc, so I don't think there's any tax issue to worry about. 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. Voyager pays you $25 in free Bitcoin if someone you refer funds their account and spends at least $100. Very annoying. I know, pushing my own Voyager referral code, right? From there, fill in the details of the withdrawal including toggling the correct currency and be sure to include a tag or memo if needed. With the hidden fees, thats an instant 6% loss rather than a 0.1% fee with, Cant see transaction history unless youre looking at a cryptocurrency, Cant see open orders under the coin you are trading. Uhhh, WTF?? Whenever I connect to my bank account, I have an extra checking account that I only use for suspicious platforms. Voyager is also commission-free and states you only pay the quoted price you see on trades. Tom Blake is a personal finance writer with a passion for making money online, cryptocurrency and NFTs, investing, and the gig economy. Insert your personal details through the app and youre good to go. I know Voyager charges 0.01 ETH and 0.0004 BTC to withdraw but thats their own fee. 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. 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. Your email address will not be published. I woke up this morning and my voyager balance was -$3500. I would recommend a bank transfer, because it costs you money to send cryptocurrency. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); 8 Best Cryptocurrency Exchanges Ranked For 2023, 10 Best Crypto Promotional And Bonus Offers, Best Crypto Wallets For 2023 (Software And Hardware Options), 6 Best Portfolio Trackers For Cryptocurrency And Stocks, Best Tax Software For Crypto And NFT Traders In 2023, Proof Of Work vs. The exception is those living in New York. BingX Review Is BingX.com Copy Trading Any Good? Only USD Pairs: Some people like to sell their altcoins for BTC or ETH. But fees vary for each platform. 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. Shares have been halted as a result. 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. These include Gemini Wallet, Gemini Pay, Gemini Custody, and multiple other trading platforms. Thats how the Voyager Digital app makes its money. Celsius Network offers a wide range of products and services to help you manage your money, pay bills or send/receive payments. Like many other people, I have been burnt by shady companies in the past. FTX cannot be used by US persons but Voyager can, though FTX offers a US version of its exchange whose trade offerings are far more limited than its parent global exchange and do not at all compare to FTX Internationals selection, and are less than what is offered at Voyager, though it remains competitive. Voyager Transfer Times and Fees : r/Invest_Voyager - reddit 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. It's CEO is Stephen Ehrlich. Voyager Network Fees on Withdrawals : r/CryptoCurrency - reddit Voyager raised over $100 million under private funding. Voyager follows KYC requirements. 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. It says customers with USD in their accounts will receive access to the money after it completes a reconciliation and fraud process with Metropolitan Commercial Bank. SMS verification is the default method. Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. But if you expect to make frequent withdrawals, you may want to look for a platform that has a static withdrawal fee structure (or one that doesn't charge withdrawal fees at all like Celsius). 2021 Whiteboardcrypto.com. Search. This will make it easier for the IRS to discover your taxable obligations. Zero fees, we all love the sound of that. This means you won't be able to decide where to execute your trades; Voyager does this for you. Because of the fee structure, Voyager can be more cost-effective than trading with Coinbase or Gemini, provided you dont make too many withdrawals.Its also worth noting that Voyager doesnt have the best interest rates. If there is anything dodgy about the platform, the investors would have discovered it.