You might need to provide your drivers license. Withdrawals: When you want to withdraw your money, you will need to pay a fee that varies between each coin. Voyager Token $0.32809887-0. Remember that if you're using a blockchain like Bitcoin or Ethereum to withdraw your funds, you'll still need to pay a transaction fee to miners. Simply dont use Celsius to buy and sell crypto, as it wasnt designed for that. Like all public companies, they will be audited. Only USD Pairs: Some people like to sell their altcoins for BTC or ETH. Voyager is the least expensive of the two, but it doesn't give you access to staking like Gemini does. 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. 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). Stay safe! Hidden fees (1% to 3%) are rolled into your orders. Interestingly, Voyager states that they are commission-free but in the small print they say additional fees may apply. He has experience helping financial companies before, working with Honos Financials. 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). Im wanting to know if theres an additional network fee charged on top of the Voyager withdrawal fee and how much it is. Voyager Review : Is it Safe or Legit? 2023 - CoinCodeCap 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. Thats why it also offers free crypto education, so that traders know what theyre getting into. Read our editorial standards. If you want to sign-up for the Voyager crypto app, you can use my Voyager promo code for a $25 sign up bonus. All customer assets are currently frozen as of July 2022. The exchange requires KYC (Know Your Customer) identity verification or document protocols to be completed for use of the exchange. 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. This gives you the flexibility to buy cryptocurrencies at current market rates or to set a limit order to buy a particular crypto if the price drops.Cryptocurrency you buy is held in Voyagers custodial wallet. But Voyager offers a simpler interface, so it could be a better choice for beginners or those who prioritize ease-of-use. Voyager is a US-regulated cryptocurrency broker that pays high interest rates on select cryptocurrencies. Your order will automatically be rejected if you try to put in a trade worth less than $10. 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. Shares have been halted as a result. The fact that Voyager is undergoing bankruptcy means it's not a product we recommend. Paid non-client promotion: In some cases, we receive a commission from our partners. 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. The withdrawal options including the blockchain network and any associated fees will then populate on the screen. This is a better way to spend your crypto then selling it. However Voyager does offer coins not available on Celsius. Voyager calls their withdrawal fees "small". 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. 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. Voyager | CoinLedger Unlike competitors on Celsius, investors can deposit as little as they wish. On the other side is Voyager crypto that started operations back in 2017. The exception is those living in New York. This just makes sure my main bank accounts are safe from being leaked onto the internet. Fiat withdrawals also depend on your bank, but Voyager will charge a dynamic "flat" fee for withdrawing crypto to an external wallet. So if you dont have $10, the Voyager crypto app doesnt want anything to do with you. Search. 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. According to his LinkedIn page, he has 25 years of experience running organizations. If you dont trust the Voyager app, I completely agree. 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. Its important to note that Celsius rewards CEL holders with a proportional share of 80% of its profits. 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. Better Business Bureau ratings usually range from A+ to F, but the BBB has given Voyager an F for multiple reasons: (1) the platform failed to respond to 157 complaints, (2) it received 185 complaints, (3) it's received multiple government actions, and (4) it never resolved two complaints that customers filed against it. KYC is required. 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. Heck no. 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. Exchange Withdrawal Fee Minimum Withdrawal Amount; $1.52. Because of this, they are held to a higher standard of scrutiny. Both have their pros and cons but which one should you choose? If you want to earn interest on the Voyager app with your cryptocurrency, youll need to meet the minimum balance. Generally, Voyager fees allow you to only pay flat fees per token, as well as $50 for wire transfers. At the Voyager crypto app LIMIT Buy/Sell page, it will NOT show you the current ask/bid prices. It is only a matter of time before VGX will be offered on a Celsius or Voyager as collateral. 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. The amount of taxable gain or deductible loss is the value you receive minus your tax basis in what you've given up. Ethereum On Celsius you'll earn a 5.35% APY on your first 100 ETH and 5.05% for any amount over that. Users may also opt out to earn interest in the app settings. Voyager has a help desk to assist customers with basic account questions. But fees vary for each platform. The winner here is clearly Celsius. Cookie Notice Altcoins Stablecoins 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. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. I'm still fairly new, what other use is there for stable coins beyond earning interest on the exchange? If you think that's expensive, check binance fees. Plaid and 2-factor authentication are the main features. Lending platforms always set their minimum deposit amount way to high, but not Celsius. With that said, the additional fees on Voyager average 1.5%. Our partners compensate us. During the sign-up process you will need to enter DAN8DE for the Voyager promo code. Fiat deposits via wire transfer and ACH bank transfer are free, withdrawals are free for ACH but $50 for wire withdrawals to bank accounts. Withdrawing USD to bank account : r/VoyagerExchange Trading Minimum: There is a minimum trade size of $10USD. Then youll need to go through the detailed verification process so have your ID ready. Its listed on the Canadian Stock Exchange, under the ticker symbol VYGVF. He also has a CPA. Withdrawing fiat is free. Voyager was founded in 2017 and is based in New York City. While Celsius excels at being a lending platform, providing users with the higher yield. There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service. Access your favorite topics in a personalized feed while you're on the go. It will also make it easier for Voyager to spot any signs of fraud. then withdraw via ACH for no fees. 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. Check out: Personal Finance Insider's review of eToro. Our Rating: 2.00 stars. 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.