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. Ya, I don't get it. Kraken offers a much larger variety of cryptocurrencies and pairs (over 90 coins, over 400 pairs), so users who value a large selection and advanced traders who seek margin will prefer Kraken by far. Save my name, email, and website in this browser for the next time I comment. Continuing their insistence of accessibility, even opening an account with Voyager is laughably easy. Exchange Withdrawal Fee Minimum Withdrawal Amount; $1.52. Check out our list of the best crypto exchanges to see how Voyager compares. So it may in some cases be the platform of choice. Instructions for withdrawing from users accounts can be found here from official support. You will be able to trade over 50 cryptocurrencies, though you can only collect interest on 20. What Is Cryptocurrency And How To Invest? There are a few reasons why I feel this is a legitimate company. Coinbase Pro has fees at 0.5% which is high, but makes up for it with the lower withdrawal fees. But Gemini offers more services. There are no further account tiers or limits. If you want to earn interest on the Voyager app with your cryptocurrency, youll need to meet the minimum balance. 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. These fees depend on the coin but can range anywhere from 1% to 3%. After getting your account approved, just deposit $100 into your Invest Voyager account. However, you still pay a spread fee. Supported Crypto Assets. So it all boils down to personal choice. They do! Fee Example: if you bought and sold the exact same coin within 1 second, youd already be down 3%. This means you won't be able to decide where to execute your trades; Voyager does this for you. 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. When your giving out your personal information, freezing your credit report can save your identity from being stolen. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with). Voyager Digital filed for Chapter 11 bankruptcy on July 6, just a few days after suspending trading and withdrawals from its platform. 35 BQX/VGX to withdraw a vgx token. 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. All products and services are presented without warranty. 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. Its been that way for quite a while. Fiat deposits via wire transfer and ACH bank transfer are free, withdrawals are free for ACH but $50 for wire withdrawals to bank accounts. Heres how Voyagers loyalty program works: VGX is currently trading at around $5, down from a high of around $6.80 in early 2021. On the other side is Voyager crypto that started operations back in 2017. 2021 Whiteboardcrypto.com. This is similar to companies like BlockFi and Celsius that let you deposit cryptocurrency to earn interest.Heres how Voyagers cryptocurrency rewards rates look for several popular cryptos and stablecoins: Rates are subject to change. My job with Captainaltcoin is the content editor and content writer position. 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. 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. Voyager is made for people to easily buy and sell crypto and to keep it safely in voyager for interest. 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. In fact, what inspired us was our grandparents - they didn't understand crypto. Thanks! Not selling , just wondering. 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. If there is anything dodgy about the platform, the investors would have discovered it. Wire transfers, on the other hand, come with no transaction fee but are not available everywhere. 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. $10 minimum deposit required to open your account. 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 Voyager app is still available, and the team behind it is hopeful for. If you're an institutional investor with crypto needs, Voyager offers a suite of options. Market makers enjoy reduced fees however at Kraken. Built with the ERC-20 standard and running on the Ethereum blockchain. 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. 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. Voyager has a help desk to assist customers with basic account questions. USD deposits are FDIC insured up to $250K USD and held by a US banking partner, so the cash users hold in Voyager is protected, however it should be noted that this does not apply to stablecoins, but only to fiat USD. For customers who desire to trade and invest in stocks in addition to top cryptocurrencies and do not mind having a smaller selection from which to choose or only desire access to the top 20 cryptos on the market, Webull and Robinhood are brokers that offers US equities and a small selection of cryptocurrencies. This round is close but Celsius comes out on top providing higher yields around 1-3% over the board. Voyager is not recommended for anyone at this time. The only thing that the Invest Voyager App has is that you can earn interest on some coins that are not available at other platforms. This will allow Voyager to verify your identity. You will also need to provide your social security number. 3.03548281 VGX The app supports bank transfers up to $5,000. Voyager earns money from the spread between the price at which you submit your order and the price at which the platform executes it. Plus, you can earn up to $40 per referral through Voyagers loyalty program. Withdrawals: There are minor minimum withdrawal limits, but no maximum ones. Voyager gives investors 4.6% APY on ETH for a minimum of 0.5 ETH balance. Voyager and CoinLedger bring free tax tools to Voyager customers for the 2022 tax year. I know, pushing my own Voyager referral code, right? And if Voyager can beat the quoted price, it takes a portion of those savings.Its also important to note that Voyager is a broker, not an exchange. Shares have been halted as a result. Learn more here. There are multiple interviews and profiles with them. 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. Voyager is tailored to all traders, in particular beginners. The only fees you will bear for deposits depend on your bank and the crypto you choose to deposit. However withdrawal fees could be better and are quite standard, coming in at $5-10. The current fee for transfers are: $22 to withdraw bitcoin, at the current price, is a lot. At first, it was listed on the Canadian TSX.V (Toronto Venture Exchange) stock exchange under the symbol VYGR.V. However Voyager does offer coins not available on Celsius. Our partners compensate us. Voyager gives investors 4.6% APY on ETH for a minimum of 0.5 ETH balance. No option to purchase crypto with a credit or debit card, A user who had used the exchange for a few months. What if I dont get my Voyager referral bonus? 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. $0 commissions (excluding the fee Voyager earns when it beats its quoted price) Availability. Tom Blake is a personal finance writer with a passion for making money online, cryptocurrency and NFTs, investing, and the gig economy. 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. Often, they will do this by charging transaction fees. Voyager also offers a Mastercarddebit cardwith 9% cashback rewards and allows users to spend their USDC balance like cash. Trading Minimum: There is a minimum trade size of $10USD. 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. Press J to jump to the feed. That's like paying $30 to $35 to take money out of an ATM. Interest is paid monthly. It also analyzes other factors, including time in business, type of business, customer complaint history, licensing and government actions, and more. Voyager Institutional brings deeper liquidity, broader market access, and more effective trading to financial institutions and technology businesses. Because of this, they are held to a higher standard of scrutiny. Im wanting to know if theres an additional network fee charged on top of the Voyager withdrawal fee and how much it is. Also can get the interest elsewhere. Its important to note that Celsius rewards CEL holders with a proportional share of 80% of its profits. Crypto withdrawal fees are subject to change and are regularly adjusted to reflect the cost of transacting on each network's respective blockchain. Voyager also comes with their own native Voyager Token. There are other exchanges that work better for your use case. 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. Its the only way to get the Voyager $25 sign-up bonus. Select " Transfer Assets " and then choose if you want to deposit or withdraw crypto to your Voyager account. In the US. 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. There is a small flat fee to withdraw crypto to an external wallet. 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. Voyager is a Financial Crimes Enforcement Network (FinCEN)-registered exchange, and it's a fully regulated and publicly traded company in the US. Voyager is tailored towards the mobile trading crowd, the zoomer buying crypto on his phone. In this conversation. Click here to see the list of withdrawal fees for cryptos. When you do a bank transfer with Voyager, they connect to your bank account using Plaid. If you dont see a cryptocurrency listed in the table, try the full list on the website. The best features of Voyager are its simplicity and no trading fees. Search. Paid non-client promotion: In some cases, we receive a commission from our partners. Yes. 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's CEO is Stephen Ehrlich. Compounding Interest On Celsius your interest earn will also earn interest, thus compounding. He also has a CPA. Read our editorial standards. If you dont trust the Voyager app, I completely agree. I don't see them dropping them unfortunately. 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. What this essentially means is that you can compare different spreads and liquidity among crypto exchanges. If you send funds to a new friend, you get the reward for sign-up once they complete the milestone!" 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. Additionally both companies have no additional insurance on the funds and only offer a government backed $250k on USD and not crypto. The exception is those living in New York. 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. But whats great is the fee-free withdrawals whenever you wish. The responses in the comments below are not provided or commissioned by any advertiser. And interest is paid out weekly, a clear advantage over competitors who do it monthly. All you need to start trading is a couple minutes. How To File A Complaint Against A Crypto Exchange [Crypto Regulators], Copyright 2023 | Cult of Money | Privacy Policy | Terms of Service. and our Also, Crypto.com withdrawal fees are free. I highly recommend freezing your credit reports with Experian, Equifax and Transunion. Unfortunately Voyager only offers a mobile app which is bummer for those whod rather trade on their computer. 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. Zero fees, we all love the sound of that. Join our discord now, we are online! I transferred $111.29 worth of USDC and then used it to buy $108 worth of Uniswap tokens$3 was complete. We have realized the quickest way to grow is to talk with our readers. Voyager Network Fees on Withdrawals Can anyone tell me what the network fees are for withdrawing ETH and BTC from Voyager? The company raised $100.1 million and has since gone public. At The Cult of Money, we want to help you navigate your finances. Simply dont use Celsius to buy and sell crypto, as it wasnt designed for that. 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. Owning certain amounts of VGX places you into different tiers, which unlocks perks like referral bonuses and bonus cryptocurrency. Earn 3.50% Annual Percentage Yield (APY) with no account minimums or monthly fees. Stay safe! Create an account to follow your favorite communities and start taking part in conversations. The $25 BTC Voyager sign-up bonus was received in my account several hours after I deposited $100 to my Voyager crypto app account. WithdrawalFees.com. CultOfMoney.com strives to keep its information accurate and up to date. Voyager is a cryptocurrency broker that began in 2017. Voyager was founded in 2017 and is based in New York City. You can find the full list of supported products here. You can do that completely for free and I made a video tutorial on that. 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. Voyager calls their withdrawal fees "small". You can fund your Voyager account with either cryptocurrency or a bank ACH transfer. Your email address will not be published. Binance requires full KYC now to trade even spot products, and Voyager requires full KYC compliance as well to use, being a public US company. Just annoying they dont make these fees apparent ahead of time. In addition, it supports over 100 cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dash, Ripple, etc. 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. 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. Rewards are earned in USDC. The team also maintains ablog with news and reports. Along with services tailored for retail investors, Voyager also offersinstitutionalclient services that leverage the crypto trading technology behind the Voyager retail app. Free deposits and various withdrawal fees. 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. Thats why it also offers free crypto education, so that traders know what theyre getting into. 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. Very annoying. Gemini offers 62 coins and 86 trading pairs which is similar to the amount offered by Voyager. 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. 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? 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. Interest rates on both platforms fluctuate based on demand, so these are at time of writing. then withdraw via ACH for no fees. 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. 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. Limit Buy/Sell: Whenever you try to buy or sell a cryptocurrency using the Voyager app, it automatically defaults to Market Buy/Sell. KYC verification is mandatory at Voyager as it is a regulated public company and US-compliant exchange. 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. Though Voyager's cryptocurrencies are commission-free, the app makes money (known as the "spread fee") when you save money on an order. 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. Just convert to ADA if you want to keep your money in crypto. Affiliate partners cannot pay CaptainAltcoin to guarantee favorable review or higher ratings on the website. You can still buy and hold but store your coins more securely in cold storage. After processing fiat withdrawals, the usual timeframe for ACH withdrawals to reach the users bank is 2-4 business days, excluding weekends and holidays. What platforms can you use Voyager on? Voyager also pays bug bounties to incentivize users and white hat security experts to report potential security flaws. 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. 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. Withdrawal fees depend on the asset in question: the fee list is. That's not what its made for. Privacy Policy. But this isnt JUST a selfish request. However, they plan to expand to more countries throughout 2021. CaptainAltcoin.com 2022 - All Rights Reserved . We're proud of our content and guidance, and the information we provide is objective, independent, and free. CultOfMoney.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. Does the mean when you transfer your crypto to another wallet theres is a fee? Theres also a support contact form. The company has its headquarters in Jersey City, New Jersey, making it a U.S.-regulated company. Youll want to see the current bids so you know how much to set your price. The company was co-founded in 2018 by now CEO Stephen Ehrlich as well as by Philip Eytan and Uber co-founder Oscar Salazer. 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). The company claims the failure of Three Arrows Capital and the volatility in the market as reasons for this decision. However, there are a few other options to explore. *Note: Voyager recently filed for Chapter 11 bankruptcy. What Is The Sandbox And How Can You Play? The same goes for maximum deposits. Moving you crypto of any kind will result in gas and minor fees. What Are VeeFriends And Are They Worth It? Personal Finance Insider's review of eToro. It is not anyones responsibility to ensure all posts and/or questions are answered. The buying and selling experience is very bad on Voyager. Voyager doesn't charge a fee for using ACH transfer for cash. For starters, cash is FDIC-insured up to $250,000, so your cash balance has some protection. Voyager also has a limited selection of educational support for beginner traders. 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). 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. 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. Our opinions are always our own. A network fee is necessary in order to have your transaction processed by the decentralized cryptocurrency network.