Voyager Crypto Review: Truly Safe & No-Fee? (2022)
While Voyager may not truly be 100% commission-free like they advertise they’re still our favorite cryptocurrency exchange for a variety of reasons including their relative low-fees, great sign-up bonus, and built-in interest-on-crypto mechanics.
Ultimately they’re the best all-in-one cryptocurrency platform, as they have low trading fees, a fantastic interface, and offer some of the best interest rates on deposits, however they don’t quite win out as the best platform for everyone, such as day traders or people who want to take out leverage on their cryptocurrency portfolio such as with crypto-backed loans.
With that being said if you’re a more ‘sophisticated’ investor who doesn’t want to just buy and hold, and may want to do trading, hedging with derivatives and options, and other more advanced things then other exchanges like FTX or Phemex would likely be a better choice.
Personally we use Voyager more than any other exchange as we prefer to keep our investments in crypto simple, as it’s already highly volatile and we don’t need any leverage or complex strategies to get a good return on our investments.
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Voyager's Unique Features:
As mentioned above they claim to have commission-free trades — we don’t count this as the case even though on the surface it’s true, as their spread is slightly larger than other exchanges — ultimately their spread is still lower than most brokerages exchange fees + spread, so ultimately this isn’t a concern to us.
Beyond lower fees they also offer interest-on-crypto passively, which is nice especially if coming from a brokerage such as Coinbase which offers more or less no such thing — with only interest on a couple coins rather than almost all on the platform.
Voyager also has a large selection of altcoins, an excellent refer-a-friend program, good account security, and a great sign-up bonus that generally amounts to $50 paid in BTC for buying/selling $100 or more of cryptocurrency within 30 days of opening an account.
How Does Voyager Crypto Compare to Competitors?
Voyager generally sits a bit above other cryptocurrency platforms in most areas — however often there’s a specific platform that’s better than Voyager in a certain category, such as Celsius when it comes to Interest on Crypto or Binance when it comes to altcoin trading.
Voyager’s Interface is alright – a little clunky, but shouldn’t be troublesome for anyone to use. It doesn’t look like a spaceship like Binance, but it’s not quite as dead-simple as Coinbase — but ultimately it’s pretty good and definitely usable, even for average users.
Cryptocurrency Trading Choices/Coins Available:
While Voyager offers more than Coinbase, and some others such as Gemini and Kraken, they still don’t have the most options — so if you want to trade “shitcoins” then you may prefer Binance or Uniswap to Voyager — but otherwise Voyager has pretty much all the coins we care to invest in and think have real value.
Trading Fees & Hidden Charges:
Voyager claims to be 0-commission, and they are — however they have a hidden spread of around 0.1% -> 0.5% on most coins, lower for the big coins more for smaller coins, so effectively they’re not truly a no-fee exchange.
However no crypto exchange is currently truly no-fee, and Voyager still comes out with the least all-in-fee most of the time, as Coinbase charges a horrendous 2% -> 6% fee on transactions and Binance and other more “advanced” exchanges charge more or less the same as Voyager charges — sometimes a bit less sometimes a bit more.
Platform Features & Resources:
Voyager of course has a news feed and crypto blog, but ultimately I’ve never met someone who cared about these — more importantly Voyager offers Interest-on-Crypto for most coins on the platform, ranging between 1% and 8.5% yearly, paid monthly. Most cryptocurrency exchanges don’t offer this — and none really offer better rates other than dedicated crypto-lending platforms such as Blockfi or Celsius.
If you want higher rates then we’d recommend going with Celsius as they generally have slightly higher rates than blockfi — plus they have an easy to get $50 sign-up bonus we detail how to receive on this page of our website. With that being said, BlockFi’s rates are very similar and offer much larger signup bonuses.
Customer Service & Support:
Just like every other crypto exchange their support isn’t the best — not as bad as coinbase’s multi-week wait times or Binance’s sometimes multi-month wait times, but definitely nothing that great — but hey there’s not really any crypto-exchange with good support so you can’t fault them for this imo.
Our Personal Experience with Voyager & Our Recommendations:
Overall we’ve had a great experience using Voyager and we use it exclusively for our DCAing into the market — the only real downsides to us if that you can’t withdraw all coins currently (xmr and a few others aren’t able to be withdrawn) and you must use a mobile device as they don’t yet have a desktop platform to trade on.
Beyond that Voyager Crypto seems to be the overall best all-in-one brokerage and unless you want to hyper-optimize your returns by using Celsius for crypto-lending or want to dive into the altcoin forest of Binance/Uniswap then there’s really no need for another brokerage.
Personally we use Voyager to buy all our crypto (primarily BTC/ETH at this point) and then we transfer it to Celsius or Blockfi (mostly Celsius) after we accumulate a few thousand dollars worth — this way the tx fee isn’t too expensive proportional to the amount we’re transferring.
As briefly mentioned above if you decide to try out Voyager make sure to get referred by someone so you can get $50 free in bitcoin after buying/selling $100 or more of cryptocurrency within the first 30 days. You can get referred by us for your $50 bonus by clicking here.
FAQ's about Voyager Answered:
Below we’ll cover some of the FAQ’s we’ve encountered, been asked, or have asked ourselves related to Voyager’s platform and performance.
Does Voyager crash or go down like Coinbase does?
No, Voyager does a pretty good job at keeping things online — personally we’ve never experienced an outage using voyager and haven’t really heard of it ever happening — this is likely because Voyager has many exchange partners and thus if one exchange goes down or their internal one does they can still route your orders to an exchange that isn’t down, such as Binance, and complete your transaction during such outages — all at no extra cost to you.
Is Voyager Crypto Safe to Use?
If by this you mean is it safe to keep coins/cryptocurrency on the platform — we’d say it’s relatively safe. It’s not as safe as using your own hardware wallet such as a Ledger Nano X, but it’s more or less the next best thing — we say this as Voyager uses multi-sig wallets and doesn’t have anything particularly problematic in their business model that’d incentivize them to put your assets at risk.
The only real risk in our view with using Voyager is that sense they hold the coins and they’re a US-based company they’re beholdened to US-regulations, and if the US government bans cryptocurrency withdrawals or implements very stricy KYC policies it may be very hard if not impossible to withdraw your cryptocurrency from the platform — however if this was the case all exchanges would be subject to the same rules and you could still sell your coins for fiat so you wouldn’t just be wrecked. Beyond this we don’t really see a real risk in keeping coins, especially small amounts, with Voyager.
How Does Voyager Make Money?
Voyager makes a small bit on the buy/ask spread I’m sure — but beyond this they also make money based on the interest they earn on your deposits. While they pay most of this interest back out to you in the form of interest-on-crypto, they seem to have slightly lower rates than companies like Celsius.
This is likely because they simply go to Celsius, or another lending-company and get them to do the lending for them and then they take a 10-20% cut of the interest, then pass the rest on to you.
A few years back they also had an ICO that created VGX tokens which raised plenty of money to get them started, so they likely aren’t struggling financially by any means, in fact we’d say they’re likely drowning in profits as both their origin and business model screams profitability.
Does Voyager Crypto Have Trading Fees?
While Voyager claims to not have any commissions or trading fees in practice this is simply not true as they have a built-in ‘spread’ making the fee built-in to the price you see on the exchange — however regardless of this voyager crypto has some of the lowest fees of any crypto exchange that allows you to deposit fiat/dollars.
To elaborate on this they usually build-in a fee of around 0.2% to 0.8% depending on the token, bigger older tokens like ethereum or bitcoin have lower fees, while newer smaller coins have higher fees. If you want to check what fee you’re paying I’d recommend dividing the price voyager quotes you by the price on other exchanges — spreads are constantly though, so no need to do this every time.
Voyager Crytpo also allows you to eliminate their fees and commissions (spread) by holding voyager tokens, or rather the spread will still exist but they’ll give you a ‘bonus’ back on the fee/spread charged, paid in VGX tokens.