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Voyager vs Blockfi: Who comes out on top?

If you are looking to invest in cryptocurrencies this year, then take a look at our in-depth guide and review of Voyager and Blockfi.

  • Dean Fankhauser
    By
  • Posted
  • Read Time9 minutes
  • Our BlockFi score
  • Our Voyager score
  • BlockFiBlockFi

Blockfi vs Voyager

PlatformFeaturesEase of useSecuritySupportReputationFeesOverall
BlockFi4453334
Voyager4544544.5

Did you know that 14% of Americans now own cryptocurrency? What's more, the average crypto holder is a 38-year-old male with an annual income of $111,000. But get ready for a significant demographic shift as the number of crypto holders doubles in 2021.

More than 21.2 million adults own Ethereum or Bitcoin, and about 13% of Americans plan on purchasing cryptocurrency in the next 12 months. As more individuals weigh in on the best crypto to buy, expect to see a "greying" and "feminizing" of investors as the 44+ crowd and more women get in on the game.

Platforms like BlockFi continue to attract a growing number of these "crypto-curious" investors. So will companies like Voyager.

But how do you choose between two reputable crypto investment exchanges? Here's what you need to about BlockFi vs Voyager.

An Evolving Cryptocurrency Marketplace

The cryptocurrency industry continues to evolve. Recent news, including the examples cited above, demonstrate that a growing number of consumers are investing in various cryptocurrencies.

As a result, Bitcoin’s supreme dominance over altcoins is rapidly vanishing. Digital currencies such as Cardano, Binance Coin, ATOM, and many other cryptos offer users a better route to long-term financial gains.

As demand for altcoins keeps expanding, so will the need for reliable cryptocurrency accounts. These accounts must prove capable of producing interest for account holders. BlockFi and Voyager both want to meet these challenges as the go-to platform for crypto enthusiasts.

What Is BlockFi?

A crypto management platform, the BlockFi site permits users to leverage their cryptocurrency, putting it to fair use. The company boasts consumer earnings of up to 8.6% interest annually on cryptocurrency holdings.

The same goes for borrowing cash, buying, and purchasing digital currency as well as accessing other financial services. In other words, BlockFi represents a one-stop crypto shop.

But does the platform keep these promises? BlockFi's commitment to helping consumers earn “up to 8.6%” in interest annually sounds crazy. Especially when compared to traditional bank accounts.

Once upon a time, five to 10% annual interest was standard on American savings accounts. Of course, today, most accounts can't even outpace inflation, which means you're losing money by holding it in a traditional savings account. 

But companies like BlockFi offer financial solutions, permitting you to earn on cryptocurrency without selling it. 

What Is Voyager?

A cryptocurrency investment app for Android and iOS, Voyager connects consumers to more than a dozen crypto exchanges, offering support for 50 digital currencies. With the platform, you can earn up to 9% annually on some assets.

What else do you need to know about this company? It's an excellent broker for accessing a variety of cryptocurrencies. 

How does it achieve this? By relying on an institutional-grade open architecture platform to provide users with some of the best execution, custody services, data, and wallets on the market today.

How did the company come about? Founded by established Silicon Valley and Wall Street entrepreneurs, they proved fascinated by cryptocurrency and the idea of creating better products.

These entrepreneurs wanted to construct a more transparent, cost-effective, and all-around superior alternative for crypto assets trading. Hence, the inception of Voyager. 

Features of BlockFi

Currently, BlockFi supports eight different cryptocurrencies. Because BlockFi accounts can access the power of cryptocurrency and decentralized finances, you'll enjoy various benefits with the platform.

For example, account holders won’t pay any hidden fees. And you don't have to keep a minimum balance. Instead, you can instantly transfer your funds out of the account.

That said, BlockFi isn't for everyone. Some cryptocurrency holders will have trouble maximizing their profits depending on the coins they choose to HODL. BlockFi has contributed the same interest-bearing profits and security to the crypto sector that you see with traditional banking. 

BlockFi's future looks unmistakably bright. The company is launching the world’s first Bitcoin rewards credit card, which will also increase its dominance within the market. This crypto card will provide consumers with 1.5% in Bitcoin rewards on every purchase with no annual fees.

What's more, BlockFi recently registered the “BlockFi Bitcoin Trust” with the SEC. What does this registration suggest? Expect new and creative investment products moving forward.

When it's all said and done, BlockFi continues to hold to its stated objective of helping consumers "do more with their crypto." But how do these features compare to Voyager's? Let's take a closer look. 

Features of Voyager

What features will you enjoy when using Voyager? The platform supports the top DeFi coins, stablecoins, Bitcoin, and a wide variety of noteworthy altcoins. As a result, the company makes good on its claim of offering something to every investor.

The company places a premium on transparency and honesty. Consumers will be happy to know that Voyager gets audited regularly. These audits guarantee that every asset gets accounted for within the platform's secure system.

What does this mean for customers? The platform's focus on transparency and audits means peace of mind for consumers. What's more, Voyager's reliance on advanced technology provides extra protection against fraud and hackers.

Securing funds remains vital for those investing in cryptos, and Voyager stands at the forefront of this area. The company is insured, which means the cash held via Voyager is always safe and protected.

In essence, Voyager permits users to build and grow their crypto portfolios easily and safely. What's more, users can take their assets on the go with the company's app. This functionality means never missing a trade and always having the cryptocurrency market at your fingertips.

That said, the company's number one drawback remains its lengthy verification process. This process makes us question Voyager's ability to handle a high volume of orders and customers. 

BlockFi vs Voyager: Getting the Best Yields

What's one of the most vital areas for comparison when it comes to cryptocurrency exchanges? Understanding which company provides better yields. After all, the whole point of investing in digital currency is to see returns on your assets. 

BlockFi Rules High Yields

Overall, BlockFi remains on top when it comes to receiving the best yields on the cryptos that you HODL. The platform offers higher rates across the board.

What do these look like? BlockFi's interest rates come in roughly one to two percentage points higher on just about every cryptocurrency they support. From mainstream cryptocurrencies like Bitcoin and Ethereum to stablecoins.

Voyager Continues to Up Its Game

The Voyager website claims you can earn yields of up to 10% annually on stablecoins like USDC. The platform also says you can get up to 6.25% on Bitcoin. These interest rates accrue on daily rates and compound each month. 

But your coins must meet the minimum to earn monthly interest. Whether you've purchased coins on the Voyager platform or deposited them into the company's wallet, you can earn interest on eligible assets within your account.

That said, these rates depend on fluctuations in the market.  

Voyager vs BlockFi: Yields and Coins

When it's all said and done, BlockFi users will enjoy higher yields on deposits although Voyager continues to inch closer to BlockFi in this area.

With both platforms, remember that not all coins are supported. For example, Voyager permits staking and lending of Cosmos/ATOM for 3% annually.

As for ATOM? Voyager doesn’t offer yield on Cosmos or ATOM.  

BlockFi offers 5% yields on gold-backed stablecoins (PAXG). As for Voyager? Currently, it doesn’t support PAXG or offer yields on it.

BlockFi vs Voyager: Fees

At this point, you may be wondering which platform offers lower fees. In this area, Voyager comes out as the winner. The platform offers much lower fees for buying and selling digital currencies. The same goes for trading.

Overall, Voyager boasts some of the lowest fees of any cryptocurrency brokerage. Of course, there's a caveat. When it comes to withdrawal fees, rates prove standard. In most cases, they fall between $5 and $10 per withdrawal.\

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How does BlockFi fit into the mix? When it comes to the platform's buying and selling fees, they prove pretty pricey as these areas don't fall under the platform's primary services.

BlockFi makes up lost ground when it comes to fee-free withdrawals, though. The company covers transaction costs and has generally managed to avoid fees. That said, BlockFi charges a loan origination fee on crypto-backed loans.\

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For buying, selling, or trading, we recommend avoiding BlockFi long-term. Instead, consider Voyager or another cryptocurrency exchange.

When should you use BlockFi? It's excellent for lending out your crypto assets. If you need to take out crypto-backed loans, it also represents a fantastic resource.

Voyager vs BlockFi: Sign-Up Bonuses

What's another area you need to consider before deciding between BlockFi and Voyager? Let's take a quick look at each platform's sign-up bonuses.

On the surface, Voyager appears to have a slightly better sign-up bonus. This bonus is worth $25 in Bitcoin.

As for BlockFi? Its sign-up bonus comes in at $20 in Bitcoin. In other words, these two platforms are running neck and neck in this area. Both sign-up bonuses prove easy to attain.

Voyager requires you to download its app and sign up with a unique promotional code. From there, you must buy $100+ of crypto, and you're all set. Learn more about how this sign-up promo works

As for BlockFi? Simply deposit a few hundred dollars of crypto after getting referred by another user. It's also worth keeping track of BlockFi’s current promotions as they offer multiple promotions simultaneously. 

BlockFi vs Voyager: Trustworthiness

How do these platforms compare when it comes to trustworthiness? This area represents another draw for each company. 

Why? Both platforms have cultivated a trustworthy reputation, and their business models prove sustainable and highly profitable. As a result, we would rate the financial security of each platform as fantastic.

That said, there are a few things to consider when it comes to this category. For starters, Voyager is a publicly owned company. It's traded under Voyager Digital Ltd (VYGVF), which adds another layer of transparency.

After all, publically traded companies put out periodic financial statements and reports. The parent company of Voyager also publishes quarterly reports, which means you can bone up on all of the latest and greatest.

As for BlockFi? It remains a private company, so it doesn’t publish reports. Of course, this doesn't mean the company lacks legitimacy. What's more, they rely on Gemini as a custodian.

Other indicators of the trustworthiness of BlockFi include the fact they boast dozens of big-name investors and hedge fund backers. These investors include Coinbase, Winklevoss Capital, and Morgen Creek Capital, to name a few.

Best Crypto Savings Accounts of 2021
CoinPlatform5 Star RatingInterest Rate (APY)
USDCNexo412%
BTCNexo48%
BTCCoinLoan47.2%
USDCCoinLoan412.3%
BTCBlockFi34.5%
USDCBlockFi3.58%
USDCCelsius4.58.88%
BTCCelsius4.56.2%
BTCHodlnaut4.57.5%
USDCHodlnaut4.512.7%
GUSDGemini48.05%
BTCGemini2.51.49%
BTCLedn36.1%
USDCLedn39%
USDCCrypto.com4.512%
BTCCrypto.com46.5%

Voyager vs BlockFi: The Takeaway

As you can see, BlockFi and Voyager both offer reasonable interest rates on deposits. But Voyager appears to be the better overall choice.

Why? The platform offers nearly identical interest rates while simultaneously providing one of the best low-fee ways to purchase digital currency.

Nevertheless, BlockFi and Voyager each come with unique advantages. Both represent trustworthy companies, and each platform's sign-up bonuses are worth taking advantage of. 

But BlockFi proves superior for long-term holding and interest-earning because the platform permits the lending of more cryptocurrencies. In turn, you'll enjoy higher yields on crypto-backed loans.

BlockFi doesn't compare to Voyager when it comes to buying, selling, and trading cryptocurrency, though. Voyager remains best for purchasing and BlockFi for long-term HODLing of significant amounts of digital currency in these respects.

Finding the Right Crypto Trading Platform

There's a lot to consider when deciding on a cryptocurrency platform. Whether you're new to the game or have been HODLing and trading in cryptos for a while, finding the right company to work with is vital to earning higher yields and paying fewer fees. Not only can a great platform save you money, but it can clue you in on the best crypto to buy right now. 

Are you interested in learning about how BlockFi and Voyager compare to other cryptocurrency platforms on the market today? Browse our comprehensive listing of the top cryptocurrency platforms of 2021.

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