Voyager Review 2022: A Crypto Broker That Promises the Lowest Prices From Multiple Exchanges

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If you are looking for the best price for your crypto and want someone else to search for you, the Voyager app can come in handy.

Unlike other crypto exchanges, Voyager works more like a crypto broker. The main selling point of the app is that it scours the exchanges for the best price on the desired token, offering over 80 cryptocurrencies. While it claims to be commission-free, Voyager’s unique approach to fees has attracted some negative attention in the form of a class action lawsuit claiming that hidden costs exceed fees and commissions charged by competitors. We have contacted Voyager for comment on the lawsuit and will update this assessment if the company responds.

Voyager also offers a rewards program that allows you to earn up to 12% per year on some digital assets. The company was founded in 2017 and is headquartered in Jersey City, New Jersey.

Voyager Pros and Cons

Pros

Access over 80 digital assets on multiple exchanges

Up to 12% annual rewards for more than half of the coins in Voyager

Recurring Buy Options

FDIC Insured Cash

Voyager at a glance

Centralized 80+ currencies available Connected to multiple exchanges and uses routing technology to find the best price for a token Ability to earn up to 12% per year on select coins in your Voyager account Recurring automatic investment option Cash holdings are FDIC insured up to $250,000 Coin-to-coin exchange is not available

Cryptocurrencies available on Voyager

Voyager provides access to over 80 cryptocurrency assets across multiple exchanges. Voyager claims to have one of the widest selections of altcoins available to US-based crypto traders and investors. Available tokens Involving:

Bitcoin (BTC)Ethereum (ETH)Litecoin (LTC)Bitcoin Cash (BCH)Cardano (ADA)Solana (SOL)TRON (TRX)Tether (USDT)Polkadot (DOT)ChainLink (LINK)

Travel expenses

Voyager makes money from its spread in finding price differences. The technology of the app allows it to compare cryptocurrency prices on different exchanges. When Voyager can save money on a price, it passes some of the savings on to you, while keeping some of those savings for itself.

However, there are some other costs to consider when using Voyager.

Withdrawal Fee

If you want to withdraw your crypto to an external wallet, you will see a: dynamic compensation† This fee depends on the token involved, as well as the current balance and any network fees for using the blockchain to complete the transfer. Before withdrawing funds, you can use the “Send Crypto out of Voyager” feature to see what the fee will be.

Transaction costs

Voyager does not charge for using ACH cash transfer. However, there is a $50 fee for inbound and outbound transfersand you must transfer at least $10,000.

Voyager Security

Voyager is regulated in the United States and it is a publicly traded company. As a result, there are some safety precautions you can expect, such as cash on your Voyager account, insured by the FDIC† But crypto assets do not have the same protection on the app. For example, you can convert your money into USD Coin (USDC), a stablecoin pegged 1:1 to the US dollar, and earn up to 9% on the holding. However, USDC balances are not the same as cash and are not protected. Only fiat currency balances are protected by the FDIC insurance.

You can keep your coins in Voyager’s custodial wallet or transfer them to your own external wallet. Voyager says it uses best practices to protect accounts. You can enable: two-step verification, and the app encourages new users to choose a strong password. To connect to your bank account, Voyager uses the service Plaid, which tokenizes your information to keep it more secure.

additional details

Earn Rewards

By purchasing and holding certain crypto tokens, you can earn strike rewards as the tokens contribute to the blockchain network. Voyager offers turn off rewards on 30 cryptocurrencies. The rewards are quite generous, reaching up to 12% per year. Compare that to Coinbase, which offers up to 5% per year for staking.

The amount you earn is based on that token. For example, if you have a monthly balance of at least 20 DOT, you can earn 12% annually, while you need at least 0.5 ETH to earn 4.25% annually. Rewards are paid out in the token you wager, so if you wager DOT, your interest payment, which comes in monthly, is paid in DOT.

Recurring Buy

For those looking to use dollar cost averaging to build a crypto portfolio, Voyager offers a automatic investment option. You can set a recurring day of the week or month when the money is transferred from your bank account to your Voyager account. Then you set up a regular asset purchase of a specific coin. If you buy a coin that has staking, you can earn interest on the amount you invest regularly.

Voyager debit card

Voyager plans to release one debit card that comes with no annual fee, allows you to spend USDC as cash and offers 9% annually for holding USDC. You can also earn rewards for owning Voyager’s native token, VGX. While the timing of the map is unclear, Voyager collects emails for interested users on its website.

Who is Voyager best for?

Voyager probably works best for intermediate cryptocurrency investors who want to buy and hold crypto tokens and hope to get the best prices for their purchases.

It can also be attractive if you want access to a variety of altcoins and stablecoins without the hassle of maintaining accounts on multiple exchanges or comparing live prices on exchanges. In addition, Voyager can be a good choice if you want to potentially earn higher returns from staking than other exchanges.

Open an account with Voyager

Voyager is available for iOS and Android devices, so you’ll need to download the app first. Then enter your email address and choose a password. You will need to provide your name, address and Social Security number and then verify your account via email. Approval can take up to 12 weeks, but usually happens sooner. While researching for this review, we found that the approval was almost instantaneous.

Voyager compared to others

VoyagerGeminiCoinbasecoins80+70+150+costNo trading fees; dynamic withdrawal fee when sending coins to external wallet 0.50% convenience fee; $0.99 to $2.99 ​​transaction fee; 1.49% transaction fee for trades with a spread greater than $2000.50%; trading fees between 1.49% and 3.99% (or $0.99 to $2.99 ​​flat rate).Wallet StorageStore coins in Voyager account or transfer to your own wallet Store coins in Gemini account, in Gemini wallet or transfer to your own wallet Store coins in Coinbase account, in Coinbase Wallet or Vault, or transfer to your own walletMinimum trade$10 Equal to the smallest amount of any coin that can be traded $2

Frequently Asked Questions

Is Voyager Legitimate Cryptocurrency?

Yes, Voyager is a legit cryptocurrency buying and betting app. Funds denominated in US dollars are protected by FDIC insurance and the company complies with US regulations.

Do you own the cryptocurrency on Voyager?

While you own the coins you buy on Voyager, keep in mind that Voyager’s wallets are custodians. That means Voyager manages the wallet and has the private keys. You can withdraw the crypto you buy on Voyager into your own non-custodial wallet, but you pay a fee to do so.

Is Voyager a crypto exchange?

No, Voyager is not technically a crypto exchange. Instead, Voyager is a broker. Instead of offering an exchange for tokens, Voyager helps you buy cryptocurrencies. Voyager compares prices from different exchanges and then fulfills your order with the best price.

Does Voyager offer coin-to-coin exchanges?

No, Voyager does not offer coin-to-coin exchanges. For example, you cannot exchange BTC for ETH like on an exchange like Coinbase. Instead, you have to take the intermediate step of selling one coin and receiving fiat currency in return, then using the resulting money to buy another coin.

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