With cryptocurrencies soaring in both value and popularity this past year, everyone is looking to grab a piece of the action. Major cryptocurrencies like bitcoin and Ethereum have been on the move again, with Ethereum hitting all-time high prices, gaining nearly 500% this year alone.
The price action has lead to a "domino effect" of people looking to start investing in cryptocurrencies. There are several options that individuals can choose from and begin investing. However, it's essential to know that not all crypto brokers are the same.
If you are looking to get involved, here is our voyager crypto review, one of the most popular cryptocurrencies investing apps, for you to get started.
What Is Voyager Crypto
Voyager Crypto is a cryptocurrency broker and investment app that allows individuals a chance to start trading cryptocurrencies. Released in 2017, the mobile app has seen its fair share of growth this past year with the massive explosion of interest in the digital asset market.
The app is simple to use and boasts a superior user experience, designed to help make the investment process easier and more accessible to everyone. You can also use the app to generate interest through certain cryptocurrency investments that pay up to 10% APR interest.
Through the voyager crypto app, users have access to over 50 different digital assets.
How Voyager Works
You can download the app on ios or Android devices for anyone located in the United States, excluding New York residents. If you live outside of the U.S, the company does have plans on expanding into the Canadian and European markets at some point later this year. The app is free to download and can be used for commission-free investing in digital currencies.
After downloading the app, you will have to sign up for an account and then fund it, and you are ready to get started. The simple sign-up process is a significant advantage over traditional brokers as you can fund your account and begin investing in minutes. In contrast, traditional brokers can take several days to complete the sign-up process.
After funding the account, users will have access to various tools and resources designed to help them get started investing with digital currencies.
Benefits of Voyager
The mobile investment app offers several advantages to users that other cryptocurrency brokers don't. Here are a few:
One of the most prominent features that Voyager Crypto offers is commission-free trading. The company is capable of providing commission-free trading through its Voyager Smart Order Router. The Smart Order Router system is intended to give users access to over 12 of the most popular cryptocurrency exchanges.
According to information on Voyager Crypto's website, the company's Smart Order Router takes advantage of price arbitrage opportunities, or differences in quoted prices, in order to get the best possible price for users. They mention that when they can beat the quoted price, they will exploit it and take a portion of the savings.
Essentially, when you save money, the company takes a piece to have the ability to offer commission-free investing.
Connects to Major Crypto Exchanges
Voyager Crypto is a cryptocurrency broker that connects with a dozen or so other exchanges to provide a host of digital asset options for users. With Voyager, you will be able to invest and trade all of your favourite digital assets like:
With a wide selection of assets to choose from, users can build and diversify a portfolio constructed of various digital assets.
Earn up to 10% APR
A unique benefit that Voyager Crypto offers is the ability to earn interest just for holding certain assets. Holding cryptocurrencies such as Bitcoin, Ethereum and Polkadot can earn users a specified amount of interest.
A few of the popular digital assets currently being offered in May included the following:
U.S Dollar Coin (USDC) - 9%
Bitcoin - 6.25%
Ethereum - 5.25%
Polkadot - 8%
Voyager Token - 7%
Litecoin - 6.5%
Chainlink - 5.5%
Bitcoin Cash - 2%
Dogecoin - 2%
Earning interest just for holding certain assets can be a significant advantage for investors looking for long-term price appreciation. These rates are subject to change, however, and are updated monthly. Certain limitations may apply - like minimum monthly holdings.
With any financial broker, security is a critical aspect of the business. Voyager Crypto is a trusted investing app that has maintained a secure platform through various safety measures like
Encrypted storage solutions
To help prevent fraud, Voyager uses a two-step authentication system when users log in. The added layer of security can make a big difference in protecting your account. According to a 2019 study from Google, two-step verification can help prevent 100% of automated bot attacks.
Voyager also uses an advanced security protocol to store and transfer user's data. The company uses an encrypted Amazon Web Services cloud server when data is being stored. They also use Transport Layer Security (TLS) when transferring data, which utilizes cryptographic protocol to enhance security further and ensure your information is safe while it's being transferred.
Easy to Use
The company makes the entire investing experience much easier for users to start. The sign-up process is easy, funding your account is easy, and beginning to invest in cryptocurrencies is also relatively easy.
Voyager's modern platform is designed to make investing in digital assets easier and more accessible to everyone. Unlike some of Voyager's competition, the mobile investment app allows you to begin investing as soon as your funds clear - there is no holding period.
The interface makes it easy for anyone, not just those with experience using brokerages, to get started investing.
When you have cash held on the platform in U.S dollars, the money is FDIC insured up to $250,000. The Federal Deposit Insurance Corporation (FDIC) is a federal agency that can provide reimbursement to a qualifying institution.
That is great news for users as your money will be protected from fraud, and in case the extreme event of a bank failure occurs. It's important to note that any money invested in cryptocurrencies is not FDIC insured, only the money that you have saved as cash (U.S dollars).
Advanced Charting Tools
The crypto broker has integrated advanced charting tools and indicators to help users perform technical analysis on the digital assets before while deciding which cryptocurrencies to invest in. Traders can now view and analyze the crypto volume over several time frames, including:
and 1 year
By looking at different time frames, traders can analyze and predict trends before or as they are occurring, not after they are completed. You can also compare two assets next to each other when deciding between multiple cryptocurrencies.
Profit and Loss Calculator
To keep track of your profits and losses, the application has a built-in profit or loss calculator to show you how your assets are performing. The integrated calculator is designed to track your initial cost basis (the average price it cost to purchase your investments) and will show you in real-time how your positions are performing - are they generating a return, or is it time to look for other investments?
Disadvantages of Voyager
Although Voyager crypto does offer several incredible advantages to using the platform, there are a few things to keep in mind. These include:
Not Currently Available Outside the U.S
Unfortunately, for anyone located outside of the United States, Voyage Crypto is not available yet for download. The company has mentioned that they plan to expand its services to Canada and Europe later this year.
The platform is also not currently available in the state of New York though they are working on obtaining a bitlicense as soon as possible. The mobile app is currently available for download in all U.S states (except New York). It includes U.S territories - Guam, Puerto Rico, American Samoa, Northern Mariana Islands, and the United States Virgin Islands.
Only Available as a Mobile App
Currently, Voyager Crypto is only offered as a mobile app and lacks a desktop version. However, the crypto brokerage has recently released a beta desktop version, suggesting that one is in the works and should be completed sooner rather than later.
The beta version currently offers new features like advanced charting features, technical analysis studies, new trading indicators, real-time pricing data, customization tools, and price alerts.
Voyage Crypto Node Blog
The company also offers users a chance to learn more about cryptocurrencies, investing, and plenty of other helpful educational opportunities.
Stay up to date with the latest in cryptocurrency investing and how the market is performing with regular updates from the team at Voyager Node. They have blog posts that feature a number of different learning opportunities, from guest speakers to how-tos and live updates about the company and its offerings.
They also have a "tags" section if you are looking for specific information about a certain cryptocurrency or investment term, making it easy to find the information you are looking for.
Digital Asset Selection
The cryptocurrency investment app currently offers over 50 digital assets to select from, including:
Band Protocol (BAND)
Basic Attention (BAT)
Bitcoin Cash (BCH)
Bitcoin Satoshi Vision (BSV)
Nervos Network (CKB)
Ethereum Classic (ETC)
Hedera Hashgraph (HBAR)
Kyber Network (KNC)
Terra Luna (LUNA)
Ocean Protocol (OCEAN)
OMG Network (OMG)
USD Coin (USDC)
Ve Chain (VET)
Voyager Token (VGX)
Stellar Lumens (XLM)
With all of those digital assets to select from, there's sure to be at least one that you can find and invest in. The company also has plans on expanding the list of available digital assets to trade throughout the rest of the year.
Refer a Friend Program
The crypto broker is currently running a referral promotion for existing users. Once you download the app and sign up for an account, they will give you a distinct code that you can share with friends, family, or anyone else you think might want to join in and start investing with cryptocurrencies.
If one of your invites decides to join and creates an account, you will receive $25 free in bitcoin once they trade a minimum of $100.
Don't think you could get anyone to sign up? Tell them they will also receive the free $25 in bitcoin as an incentive, and they might just reconsider. You can repeat this and earn the bitcoin credit for each person that signs up and trades at least $100. Certain limitations may apply.
Voyager Crypto is one of the most popular cryptocurrency brokers currently available, even with a growing list of competitors. Here's a breakdown of the competition.
BlockFi - BlockFi is a close competitor to Voyager, offering similar benefits and features. The investment app also provides an interest rate for holding certain digital assets, providing up to 8.6 APY, slightly less than that of Voyage. BlockFi also doesn't offer the same large number of offerings that Voyager has. Although BlockFi does have more banking features like a credit card service.
Coinbase - Coinbase is another mobile investment platform that shares similar features and abilities as Voyager. Compared with Coinbase, Voyager has much lower fees and commissions for trading and investing in cryptocurrencies - Voyager is commission-free, and Coinbase charges around 0.5% - 1% in commission fees. Voyager also offers the ability to earn interest while holding certain digital assets, a feature that Coinbase doesn't offer. You can also invest in a more diverse range of cryptocurrencies on Voyager.
Robinhood - Robinhood is a popular investment app that also experienced significant growth this past year with an increased interest in cryptocurrencies and investing. Robinhood makes it easy for users to sign up and get started investing in cryptocurrencies. Unlike Voyager, Robinhood offers users the ability to invest in stocks and other assets. Both Robinhood and Voyager are commission-free and don't charge a fee for cryptocurrency trades. Voyager is more geared towards cryptocurrency investing, where Robinhood can be more widely used for stock trading and investing.
Celsius - Another Voyager competitor, Celsius Network, shares many qualities and features that Voyager does, such as earned interest with certain cryptocurrency holdings, a wide range of digital assets to choose from, and an education section for users to learn more about cryptocurrencies and to invest. Celsius does offer slightly higher interest rates for specific cryptocurrency holdings, offering up to 17.78% interest on certain investments.
What Fees Does Voyager Have?
Voyager Crypto is commission-free when it comes to trading and investing in digital assets, meaning they don't blatantly charge a fee for its services. However, the company does make a profit from the spread when executing trades. The investment app utilizes its Smart Order Router to obtain the best prices for users by connecting to over a dozen exchanges. By saving users money, the company also saves money by exploiting the price differential in the spread and taking a piece of the profit.
Is Voyager Crypto Legit?
Yes, Voyager Crypto and its services are completely legitimate. Any cash held in U.S dollars on the platform is backed by the FDIC up to $250,000. The company is based in the United States and was founded in 2017 by Stephen Ehrlich, Gaspard de Dreuzy, Oscar Salazar, Philip Eytan, and Serge Kreiker.
Is it Safe to Invest With Voyager?
Voyager Digital uses a number of safety protocols to assure the safety of the platform's users. Your information stays safe through the entire process through an encrypted transfer protocol and encrypted storage of the information in an offline (cold) server. As previously mentioned, when your money is stored as cash or U.S dollars, the money is insured by the FDIC up to $250,000.
Cryptocurrencies tend to be relatively volatile, meaning they can change in value in a short amount of time. It's crucial to always practice good risk management techniques as some digital assets can be speculative in nature, changing value significantly in a short amount of time.
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Is it Right for You?
For anyone that lives inside the United States (excluding New York for now) looking to get involved and start investing in cryptocurrencies may enjoy the crypto investing app. It's designed with everyone in mind to help those with little crypto knowledge and even those that have been involved with digital assets.
Another factor to consider is the interest rates being offered by Voyager Crypto. The company is offering up to 10% APR interest just for holding certain digital assets.
Summary of Voyager Crypto Review
The Voyager Crypto broker is an excellent investment app for anyone looking to invest in cryptocurrencies or looking for a new broker to transfer to.
The app features a wide range (50+) of digital assets for investors to choose from and invest in, such as bitcoin, ethereum, and dogecoin. Trading and investing in cryptocurrencies is entirely commission-free through the mobile investment app. The only fees that the company charges for are when they can beat the quoted price for a digital asset. They will then take a portion of the difference and leave you with the rest of the savings.
The company's Smart Order Router is one of the best features for the crypto broker as the system can identify the best prices and relay them to the user. Investors can earn interest (up to 10% APY) for investing and holding onto certain cryptocurrencies.
The app comes loaded with educational resources, a live news stream, advanced charting tools, and a built-in profit and loss calculator to help users get started on their crypto investment journey.
Voyager does face some stiff competition from big names like Robinhood and Coinbase. Still, Voyager seems to have made a market for itself with added offers and features like interest earned and asset selection.
The only downside that Voyager has right now is its limited availability outside of the U.S and in New York, though the company does have plans on expanding later this year. Also, the lack of a desktop version can be a dealbreaker for some people, but they are also working on developing one and currently have a test beta version that's live.
Overall the crypto broker offers an excellent service for anyone looking to get involved with cryptocurrencies and start earning a profit. The app is easy to install and sign up for, and you can begin investing as soon as your funds clear.
Further Information on Cryptocurrency Investing Apps
Voyager Crypto is an investment app that has grown this past year substantially with a surging interest in cryptocurrencies and investing. Investing in cryptocurrencies is a great way to earn interest, generating returns, and grab a piece of some of your favorite digital assets. The stemming interest in these digital currencies has led to exciting new developments and is expected to only grow in popularity from here.
If you enjoyed this Voyager Crypto review, check out the rest of our blog to see how the investment app stacks up against the completion in a series of reviews.