Voyager Review 2023: No Trade Commissions & Solid Crypto Rewards
With support for 100+ popular cryptocurrencies and low trading fees, Voyager is a popular way to invest in crypto from your smartphone. This crypto brokerage has numerous features that let you earn passive income from your digital assets.
If you’re interested in crypto investing but don’t know where to start, our Voyager review covers everything you need to know to decide if this broker is right for you.
Commission & Fees - 8
Customer Service - 5
Ease of Use - 9
Cryptos Supported - 8
Safety & Security - 8
Features - 8
Pros & Cons
What Is Voyager?
Voyager is a cryptocurrency broker that started in 2017. These days, it’s one of the most popular ways to invest in crypto, and the platform supports 100+ digital assets.
It’s worth highlighting that Voyager is a broker, not an exchange like Crypto.com or Gemini. When you place a crypto trade, Voyager works with various exchanges and partners to help fulfill your order at the lowest possible cost.
What Do They Offer?
Crypto trading is the main reason to use Voyager. Once you download its mobile app, you can buy, sell, and swap dozens of popular cryptocurrencies and altcoins right from your phone.
Popular coins Voyager supports include:
In short, if you want a simple way to invest in crypto from your smartphone, Voyager is one of the best platforms you can use.
How Does It Work?
The Voyager app is free for Android and iOS. Once you sign up and complete your profile by verifying your identity, you can start trading with Voyager and invest in supported currencies.
Placing an order is also very simple. Voyager lets you fund your account with fiat directly from your bank account. You can also transfer crypto you're holding own in another wallet to your Voyager wallet.
From there, Voyager lets you place markets and limit orders. The app displays an estimated quote price when making a trade, so you know how much crypto you’re purchasing after accounting for platform and network fees.
Accessible crypto investing is the main reason to use Voyager. But this exchange has numerous other features that help you earn passive crypto rewards.
Crypto Trading: Voyager uses its Smart Order Routing technology to help you invest in crypto without overpaying on fees.
Voyager Debit Card: This crypto debit card is currently available to early-access users and lets you earn up to 9% back in USDC for spending.
Voyager Earn Program: Voyager pays you monthly rewards just for holding a number of dozens of different cryptocurrencies, with APYs as high as 12%.
Referral Program: The Voyager referral program pays you and your referral $25 each in free BTC if they sign up and trade at least $100.
Voyager Token & Staking Rewards: VGX is Voyager’s native token. You can stake it to earn 7% APY and earn up to 1.5 times extra rewards for holding other cryptos through Voyager’s VGX loyalty program.
The Voyager earn program and VGX staking are valuable features because you can use the Voyager app to invest in popular cryptocurrencies and then put your digital assets to work to earn passive income.
Fees & Limits
Voyager is a commission-free crypto broker. It tries to find price discrepancies across its exchange partners when you place a trade to beat the quoted price. If Voyager is successful and helps you get a lower price, it takes a cut of the savings and completes your order.
Voyager doesn’t state how much it takes from lower-than-quote trades. Additionally, network fees still apply, which can get a little steep depending on network congestion and the crypto(s) you’re trading. However, Voyager is a cost-effective way to trade. And the ability to place limit orders is also helpful in managing costs.
Note that Voyager charges withdrawal fees that vary depending on the cryptocurrency. These fees usually range from $5 to $35 or even more.
Who Is It For?
Voyager makes investing in cryptocurrencies extremely accessible through its intuitive mobile app. The option to earn crypto rewards through staking also makes Voyager a potential passive income option.
Overall, Voyager is perfect for beginner investors or anyone who wants a cost-effective way to trade crypto from their phone. But if you’re looking for in-depth trading tools and more coin support, options like Binance and Crypto.com may be better choices.
How Do I Open an Account?
Once you download Voyager, you create an account by providing Voyager with your email address and basic information like your:
- Date of birth
- Phone number
- Social security number
Voyager also follows know your customer (KYC) requirements. This means you must verify your identity by uploading a photo of an official government ID, like your driver’s license or passport.
Most accounts get approved automatically so you should be able to begin trading quickly. If Voyager can’t automatically approve you, a support team member will reach out to review your profile.
How's the Customer Service?
You can contact Voyager customer service by email or through a help request ticket using an online form.
If you’re surfing reviews, you might notice that Voyager has rather negative Trustpilot reviews. Most complaints stem from a botched token swap fiasco that left thousands of VGX version 1 token holders with worthless tokens because they didn’t realize they had to swap to VGX version 2.
Is It Safe?
Your cash balance with Voyager gets up to $250,000 in FDIC insurance. But the company doesn’t provide cryptocurrency insurance or FDIC insurance on digital assets.
That said, Voyager has numerous protocols in place to increase security. It works with Plaid to securely connect and transfer sensitive banking information. Furthermore, you can enable two-factor authentication to protect your account from unwanted access.
Still, you should still consider using an external cold wallet unless you’re purposely holding crypto on Voyager to earn rewards.
Further Reading >> The Best Cryptocurrency Wallets
These days, there are dozens of crypto exchanges you can use to invest in digital assets. Voyager is one of the best options for low-fee crypto trading through your smartphone. But if you want desktop trading support and more coin support, Voyager alternatives like Coinbase and Binance might be better choices.
When Voyager’s desktop trading Beta ends and everyone can trade from their computer, the platform will become much more competitive with major crypto exchanges. But for now, it’s best for new crypto investors who want to quickly invest in crypto, avoid fees, and earn income through staking.
|Crypto Rewards Card||In Beta||Yes||Yes|
|Desktop Trading||In Beta||Yes||Yes|
|Best For||Fast crypto trading from your phone||Beginner crypto investors||Advanced crypto investors|
Related>>Binance vs. Coinbase Comparison
Voyager has had a challenging PR period over the last few months due to its unfortunate VGX token swap that left many customers empty-handed.
Despite that, the platform is still a cost-effective way to invest in the most popular cryptocurrencies out there. You can earn up to 12% APY with certain cryptos is also a perk. And exciting developments like the Voyager debit card and desktop trading are on the way.
If you want more coin support and avoid expensive withdrawal fees, stick with Voyager alternatives like Coinbase and Binance. But if you want an easy-to-use mobile crypto trading platform, Voyager is worth checking out.
More About Crypto >> The Best Crypto Exchanges