Binance also offers a more extensive web and ecosystem of products, support, and liquidity, especially given its larger daily volume as compared to Voyager. This round is close but Celsius comes out on top providing higher yields around 1-3% over the board. When there is a problem, they respond promptly, trying to be as transparent as possible. Because of this, they will need to make sure that their records are kept up to scratch. 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. Voyager is a US-regulated cryptocurrency broker that pays high interest rates on select cryptocurrencies. 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? If you're interested in crypto investing, you may want to consider other crypto exchanges. You will also need to provide your social security number. All customer assets are currently frozen as of July 2022. Our opinions are our own. All trades can only be done against the USD (more on that later). First, youll need to use the Voyager affiliate link to access the site and download the app. This tells me that Voyager app is rolling their fee into every order. . You only need $10 to trade cryptocurrencies at Voyager. However, Voyager still lacks the brand presence that Coinbase has achieved. 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. Voyager also offers a debit card with up to 9% cashback so there is no shortage of crypto financial services. Users may also opt out to earn interest in the app settings. It's CEO is Stephen Ehrlich. Meanwhile Celsius has awful trading fees as its not what the company specializes in. I see in the loyalty program you can save on withdrawal fees . Cash is FDIC-insured but Voyager doesnt carry any insurance for cryptocurrencies. Specifically, Voyager says it takes a small spread fee when it executes an order at a better price than you, the investor, submitted. Voyager manually approves all withdrawals as part of the AML process, so all withdrawals may take up to 24 hours. Some withdrawal fees can be anywhere from $10-$15USD (full list here). Up to 10% APY on over 50 cryptocurrencies, such as. KYC is required. Limit orders will have fees rolled in so you cant actually see your Limit sell ask price. There is a small flat fee to withdraw crypto to an external wallet. Im wanting to know if theres an additional network fee charged on top of the Voyager withdrawal fee and how much it is. Like we already discussed in detail Voyager also provides users the opportunity to earn interest with their crypto holdings. By clicking Sign up, you agree to receive marketing emails from Insider Median: 4.5 DOGE ($0.36). Any other fees that may apply are detailed in the Voyager Terms of Service. I know, pushing my own Voyager referral code, right? But we do have to make money to pay our team and keep this website running! You can start earning interest on a $1 deposit any time you wish. Unlike other exchanges, there are no lockup periods required with this program. At this time, withdrawal limits on Voyager are as follows: $25,000 maximum total market value within a 24 hour period. It's supposed to promote a buy and hold mentality. As for customer support, Voyager offers a support service center users can access via logging into the app and submitting a query. If you dont trust the Voyager app, I completely agree. When you do a bank transfer with Voyager, they connect to your bank account using Plaid. BlockFi makes money on the spread and allows cryptocurrency withdrawals, while Voyager uses flat-rate transaction fees and does not allow cryptocurrency withdrawals. 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. So, in theory, if something happens, you can expect to get your money back. US users trading at FTX US need to do KYC procedures and likewise for Voyager. I am Petar and I come from a small country in South-Eastern Europe called Serbia. 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. This fee is determined by the blockchain network fees and may vary depending on network usage. Voyager is a cryptocurrency broker that began in 2017. The Voyager withdrawal fee differs based on the cryptocurrency you want to withdraw. 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. Learn more here. Tom Blake is a personal finance writer with a passion for making money online, cryptocurrency and NFTs, investing, and the gig economy. Voyager has expanded since launch to most US states and soon plans to launch to Europe. Funding Your Account: You can fund your Invest Voyager crypto account with cryptocurrency or with a bank account. It trades in Canada and on the US OTC market under the ticker VYGVF. Voyager allows the purchase of cryptocurrencies from a wide array of exchanges,. In addition, it supports over 100 cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dash, Ripple, etc. 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. This is different from most exchanges that prioritize desktop support. Trading Minimum: There is a minimum trade size of $10USD. This fee is determined by the blockchain network fees and may vary depending on network usage. 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). Voyager is not recommended for anyone at this time. Withdrawal fees on Voyager vary depending on the cryptocurrency you want to withdraw. Whenever I connect to my bank account, I have an extra checking account that I only use for suspicious platforms. 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. 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. Free deposits and various withdrawal fees. Voyager gives investors 4.6% APY on ETH for a minimum of 0.5 ETH balance. 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. Its important to note that Celsius rewards CEL holders with a proportional share of 80% of its profits. Interest is paid monthly. Voyager instead makes money on the spread (the bid/ask) of the coin being traded. Both platforms excel in their simplicity. One compelling Voyager feature is its cryptocurrency rewards. Celsius offers 6.2% APY for your first BTC and 3.51% for any additional BTC. . The bureau bases its ratings on how well it thinks a company interacts with its customers. Coinbase Pro has fees at 0.5% which is high, but makes up for it with the lower withdrawal fees. Individual 401(k) & Individual Roth 401(k) plans. And interest is paid out weekly, a clear advantage over competitors who do it monthly. 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. 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. Then youll need to go through the detailed verification process so have your ID ready. 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 is also a FinCen registered Money Service Business now traded on US OTC markets under VYGVF. The exception is those living in New York. However, there is a $50 fee for incoming and outgoing wire transfers, and you must transfer a minimum of $10,000 out. Bottom Line. Meanwhile, FTX is known for catering to active derivatives traders and optimizing for high order volume and trading execution speed. $0 commissions (excluding the fee Voyager earns when it beats its quoted price) Availability. So I checked my bank and the $5000 is in my account. There is a Voyager crypto website, but its pretty much a landing page for the app. Stay safe! Youll need to send your email to rewards@investvoyager.com. Crypto withdrawal fees are subject to change and are regularly adjusted to reflect the cost of transacting on each network's respective blockchain. Voyager. The team also maintains ablog with news and reports. Voyager has no fee trades, yes. 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? The technology automatically connects with dozens of other exchanges and allows you to pick the best. 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). I dont recommend the Voyager crypto app, but I do like free money. So that 0.002585 (~$21) becomes 0.002085 ($17) by the time it hits your wallet: effectively a 20% withdrawal fee. Commission and Fees. So it may in some cases be the platform of choice. 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. It is not anyones responsibility to ensure all posts and/or questions are answered. It is not an offer to buy or sell any security, product, service or investment. Other features of the Voyager crypto app is that you do earn interest on some of the coins you hold in your Voyager wallet. CEL holders receive in airdrops 80% of the networks profits. of Both have unique and different use cases and should be considered based on fundamentals. Read our editorial standards. 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. 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. No way around it. The exchange requires KYC (Know Your Customer) identity verification or document protocols to be completed for use of the exchange. 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. In other words, Voyager makes money when it saves you money on an order by executing it at a better price. Voyager does disclose its security protocol, but we can assume its similar. Its listed on the Canadian Stock Exchange, under the ticker symbol VYGVF. There are a few reasons why I feel this is a legitimate company. Built with the ERC-20 standard and running on the Ethereum blockchain. Your referral also gets $25 in free Bitcoin.This is a very competitive referral program. 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. Fees: No commissions, Voyager may earn a fee when it beats its quoted . According to his LinkedIn page, he has 25 years of experience running organizations. 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." Similarly also Voyager pays out interest to investors monthly and even offers free withdrawals. Does the mean when you transfer your crypto to another wallet theres is a fee? After someone has signed up and deposited $100, you should receive an email notification. We are a team of blockchain enthusiasts dedicated to creating high-quality resources for anyone wanting to learn about the space. Voyager and CoinLedger bring free tax tools to Voyager customers for the 2022 tax year. When does Voyager App pay interest? Earn 3.50% Annual Percentage Yield (APY) with no account minimums or monthly fees. Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). At first, it was listed on the Canadian TSX.V (Toronto Venture Exchange) stock exchange under the symbol VYGR.V. *Note: Voyager recently filed for Chapter 11 bankruptcy. Uhhh, WTF?? Yep, Voyager has high withdrawal fees. Voyager is currently open to everyone in the United States. The company describes itself as a broker that facilitates trading through its routing technology. You can still buy and hold but store your coins more securely in cold storage. But whats great is the fee-free withdrawals whenever you wish. I'm wanting to know if there's an additional network fee charged on top of the Voyager withdrawal fee and how much it is. For starters, cash is FDIC-insured up to $250,000, so your cash balance has some protection. Open orders are only available in your transaction history, The interest rates are lower than competitors like. They also offer their service on a mobile app so you access them wherever you are. This includes your name, address, email, mobile phone number, and date of birth. This means you won't be able to decide where to execute your trades; Voyager does this for you. Altcoins Stablecoins Personal Finance Insider's picks for best cryptocurrency exchanges, The best cryptocurrency apps for trading dogecoin, Voyager vs. Coinbase: How the crypto platforms compare, The best cryptocurrency exchanges for trading bitcoin and other assets, What is cryptocurrency? According to its website, you can sign up and begin investing in three minutes or less. There are other exchanges that work better for your use case. If you're an institutional investor with crypto needs, Voyager offers a suite of options. 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. 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.