Kraken vs. Voyager - Which is Better for You? (2021)
Both Voyager and Kraken are quite easy to use and are good fiat onramp choices, however one really shines with it’s lower fees and better interest on deposits.
Personally we use both Kraken AND Voyager — this is because while we prefer Voyager for our regular everyday purchases they don’t offer nearly as good of yield on Polkodot, one of the coins we hold, nor does any of the other crypto-interest platforms or exchanges, so for that purpose we use Kraken — holding and staking/lending our Polkodot holdings.
The reason we believe use and believe Voyager is better for most people is because they have lower commissions and trading-fees than Kraken, and a better variety of alt-coins to trade if they interest you — They also significantly better passive-income via interest-on-crypto compared to Kraken. Voyager also offers a $25 sign-up bonus, while Kraken generally offers no sign-up bonus.
Which has less fees - Kraken or Voyager?
While this may seem relatively straight-forward as Voyager has 0 commissions, this is largely marketing — when you buy or sell on Voyager’s app they price the coins up or down by about 0.3%, so you get wrecked a bit on the spread — but otherwise there’s no commissions.
Kraken charges between 1.6% for regular orders (instant-buys/sells), which while better than other mainstream exchanges like Coinbase they’re still significantly worse than Voyager in terms of fees — The only way around this is to wire-transfer in your money or wait 1-2weeks for the funds to settle, then transfer it to another exchange or Kraken Pro and all that effort will save you about $1.50 per $1000 bought or sold in fees –That’s just not worth it for most people.
So Voyager is slightly better in terms of fees, at least for now — maybe one day Kraken will lower it’s fees further, but that day has yet to come.
Which Has The Best Signup Bonus Offers - Voyager or Kraken?
Voyager wins hands down in this category — this is because while Kraken sometimes has a sign-up bonus of $10 or so, they often have none whatsoever, while Voyager consistently offers new users $25 for signing up and buying/selling >100USD of cryptocurrency in the first few weeks of opening an account with them.
To get Voyagers Sign-up Bonus it’s very easy and straight-forward — all you have to do is sign up for an account and enter in the promo code “ZACYAJ” when signing up and buy $100 or more of crypto through the app and you’ll get $25 in bitcoin right-away deposited into your account.
As for Kraken, if they have a sign-up promotion currently going you’d be eligible for it by signing up through someone’s Kraken affiliate link — you can do use ours by clicking here, but as they generally don’t offer a promotion we’d recommending checking this page to see if they even have any sign-up bonus offers currently.
Which Offers the Best Yields - Kraken or Voyager?
This category is a bit of a toss-up — Currently Kraken offers the best yields hands-down when it comes to Polkodot and a few other PoS coins such as Kava, Cosmos, and Kusama, however beyond PoS coins they offer horrible yields, and thus if you have non-PoS coins, and Voyager supports them, Voyager is a much better option for earning yield on them — for example Bitcoin earns <0.5% on Kraken, while Voyager offers multiple times this, generally between 4% and 6% per year.
If you’re yield-hungry however you’d likely be better off transferring to Celsius or BlockFi, two platforms that are dedicated to earning yield on your cryptocurrency deposits with them, and in our opinion the two best platforms. You can read more about them in our comparison of Celsius and BlockFi here, including the lucrative sign-up bonuses they offer.
Which is more Trustworthy & Secure - Voyager or Kraken?
Overall we’d say this category doesn’t matter — they’re both secure and we keep 1000’s of USD in Crypto in both our Coinbase and Voyager Accounts. If you’re worried about government seizure we’d say to withdraw from a centralized exchange after purchasing — don’t try to pick the safer of two potentially cooperative entities. But beyond that there’s no real risk in our view with using these companies to hold modest sums of crypto on them.
Both Voyager and Kraken have clean track records and aren’t new-comers to the crypto-space, not to mention both have numerous 3rd party audits done on their security procedures, and Voyager is even a publicly traded company so you can see their financial status if you so desire. Really both are trustworthy, safe, and secure.
What Advantages does Kraken have over Voyager?
Kraken has quite a few advantages to Voyager — but also some downsides — the primary advantages Kraken has over Voyager is that they have extremely good rates on proof of stake coins, making them hands-down the best choice for earning yield on coins like Polkodot, Cosmos, Kusama, etc.
Kraken also technically offers slightly lower fees if you use Kraken Pro and go through many delays or pay some bank-transfer fees, so really we think Voyager is better in this regard as regular Kraken charges much higher fees than Voyager, but hey if you’re going to buy $100,000 at once of crypto Kraken Pro is a better choice.
Unfortuantely Kraken rarely has a sign-up bonus, but as mentioned before you can sign up through this link and be eligible if there currently is a sign-up promotion.
What Advantages does Voyager have over Kraken?
Voyager has a much easier to use interface, especially mobile app, and lower fees for immediate-purchases, which in our opinion make it the better choice for most people — and that’s even before factoring in that they offer significantly better yield/interest on non-POS coins when compared to Kraken.
Voyager Crypto also offers more alt-coins on offer that you can purchase, and have an amazing $25 sign-up bonus you get by being referred by someone who has a funded account already — you can read more about Voyagers sign-up bonus on this page of our website, but essentially sign-up with code “ZACYAJ” and buy/sell $100 or more of crypto and you should receive $25 in bitcoin instantly.