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. 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. 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. 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. I woke up this morning and my voyager balance was -$3500. If you're an institutional investor with crypto needs, Voyager offers a suite of options. I even lowered the price more and it still did not display my order when the spread was still at a 3% difference. 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. This just makes sure my main bank accounts are safe from being leaked onto the internet. Market makers enjoy reduced fees however at Kraken. Yep, Voyager has high withdrawal fees. This is most notable with staples like Bitcoin and Ethereum. Meanwhile, FTX is known for catering to active derivatives traders and optimizing for high order volume and trading execution speed. That's a big deal, and highlights the huge risk of Voyager. By clicking Sign up, you agree to receive marketing emails from Insider Lending platforms always set their minimum deposit amount way to high, but not Celsius. This is different from most exchanges that prioritize desktop support. Once Voyager verifies your account, you get an email and app notification that you can begin trading. Voyager Token $0.32809887-0. 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. We are a team of blockchain enthusiasts dedicated to creating high-quality resources for anyone wanting to learn about the space. The Voyager app is still available, and the team behind it is hopeful for. 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. Median: 4.5 DOGE ($0.36). You can do so by finding "Account" in the Voyager app, selecting "Transfer Cash or Crypto," and navigating to "Transfer Crypto" and tapping "Send Crypto out of Voyager." Thanks! Voyager is also planning to expand to Canada and Europe in the near future. There are a few reasons why I feel this is a legitimate company. If you're interested in crypto investing, you may want to consider other crypto exchanges. My job with Captainaltcoin is the content editor and content writer position. I am a big-time crypto enthusiast and I am proud to be a part of the project. Simply dont use Celsius to buy and sell crypto, as it wasnt designed for that. 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. Before you can open your account, you will be required to provide specific information. 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. However I should add that problems are usually resolved; they just take way more time than youd expect from such reputable companies. Paid non-client promotion: In some cases, we receive a commission from our partners. There is a Voyager crypto website, but its pretty much a landing page for the app. 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). Though I wouldnt want to put this to the test. Very annoying. The data is only accessible to those at Voyager who need to know the information for a particular business purpose. For starters, cash is FDIC-insured up to $250,000, so your cash balance has some protection. I know there are gas fees bc its an erc20 token but not that much. There is a small flat fee to withdraw crypto to an external wallet. Affiliate partners cannot pay CaptainAltcoin to guarantee favorable review or higher ratings on the website. Read our editorial standards. The sender is responsible for paying network fees associated with the transaction; each blockchain has its own cryptocurrency that . 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. Interestingly, Voyager states that they are commission-free but in the small print they say additional fees may apply. Spread fees are incurred when an order is filled by the exchanges matching engine. Currently, Voyager is available in every U.S. state except New York. As mentioned, Voyager uses its Smart Order Router technology to find pricing discrepancies across various exchanges to try and beat quoted prices. Because of these fees, you're better off using other payment methods. Proof Of History, Why I Bought An NFT [And 5 Reasons You Should Too], My Dogecoin Experiment: What I Learned From Investing $2,000 In DOGE, Most Common Crypto And NFT Scams (And How To Avoid Them), Bookkeeping And Accounting For Crypto And NFTs, What Is A 51% Attack? He has experience helping financial companies before, working with Honos Financials. 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. Whenever you have a problem and call for Celsius customer support, they will be very slow to respond. It's a flat fee that won't increase as your account assets grow. How long does it take to get the Invest Voyager Sign-up Bonus? 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. Yes, KYC verification is mandatory at Voyager as it is a regulated public company and US-compliant exchange. Commission and Fees. Privacy Policy. The company has its headquarters in Jersey City, New Jersey, making it a U.S.-regulated company. Along with services tailored for retail investors, Voyager also offersinstitutionalclient services that leverage the crypto trading technology behind the Voyager retail app. Voyager and Geminibothhave the following in common: huge crypto selections, low minimums, and crypto services for institutions. 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. So that 0.002585 (~$21) becomes 0.002085 ($17) by the time it hits your wallet: effectively a 20% withdrawal fee. Up to 10% APY on over 50 cryptocurrencies, such as. Additionally, Voyager may lend, sell, invest, or use your deposited funds in various ways, which presents risk. 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). Generally, Voyager fees allow you to only pay flat fees per token, as well as $50 for wire transfers. All content on CaptainAltcoin is provided solely for informational purposes. It allows traders to use their Smart Order Routing technology and make the most of every trade by taking advantage of the discrepancies between different exchanges. This can be pretty steep for some of the coins. 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. 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). The withdrawal options including the blockchain network and any associated fees will then populate on the screen. After setting a Limit Sell order as the lowest ask price, the Voyager app does not show my order! Both have their pros and cons but which one should you choose? The current fee for transfers are: $22 to withdraw bitcoin, at the current price, is a lot. Altcoins Stablecoins This is what you would expect in the cryptocurrency interest account industry. 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. If you want to sign-up for the Voyager crypto app, you can use my Voyager promo code for a $25 sign up bonus. There are some very high fees hidden into the Buy/Sell Spreads that can range from 1% to 3%. After someone has signed up and deposited $100, you should receive an email notification. When you do a bank transfer with Voyager, they connect to your bank account using Plaid. If you send funds to a new friend, you get the reward for sign-up once they complete the milestone!" Voyager states the rate will be 0.10% to 0.30% depending on your loyalty program tier.Its difficult to judge this card fully until it hits the market. KYC is required. 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. International users who can use FTX International may prefer FTX for these reasons over Voyager. 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. At first, it was listed on the Canadian TSX.V (Toronto Venture Exchange) stock exchange under the symbol VYGR.V. The best features of Voyager are its simplicity and no trading fees. However, the effective fees are still smaller than paid at other major exchanges such as Coinbase. 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. They literally on trade all of your favorite coins commission-free* and then the in smaller print Additional fees may apply. Additional fees do apply. However, the end result users pay in fees may be the same since Voyager charges based on the spread instead of a fee system, and high volume traders may pay less fees on a net basis at a low-fee competitor such as KuCoin or FTX. Withdraw $124 back into your bank account. In the US. USDC is $20, for example. No fee for wire deposits but there is a $50 fee for wiring USD out of the account, with a $10K minimum amount on outgoing wires, No fees on ACH withdrawals or deposits for fiat. How To Invest In Crypto In Your IRA Or 401k, Best Tax Software For Crypto And NFT Traders. All trades can only be done against the USD (more on that later). Allowing debit, credit and bank transfers making it very accessible to beginners. Deposit $100 (use your bank ACH transfer because youll be subject to withdrawal fees from your crypto exchange), Buy $100 of USDC (this should trigger the trading requirement), You should get the $25 BTC bonus for trading, Sell the $25 worth of BTC to USD (youll probably get $24). Best Crypto Signals (Telegram & Discord) Are Crypto Groups Worth It? 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. Supported Crypto Assets. But this isnt JUST a selfish request. Im wanting to know if theres an additional network fee charged on top of the Voyager withdrawal fee and how much it is. Heres a quick overview of some of the most popular options. USDC is $20, for example. Celsius offers 6.2% APY for your first BTC and 3.51% for any additional BTC. I highly recommend freezing your credit reports with Experian, Equifax and Transunion. Withdrawals: When you want to withdraw your money, you will need to pay a fee that varies between each coin. Voyager is not recommended for anyone at this time. Heck no. BlockFi makes money on the spread and allows cryptocurrency withdrawals, while Voyager uses flat-rate transaction fees and does not allow cryptocurrency withdrawals.