Voyager vs. Binance - Which is Better for You?
Both Voyager and Binance are fantastic Crypto exchanges in our view, however they are quite different and depending on your use-case one is generally much better than the other for you.
Personally we use both Binance AND Voyager as binance has some altcoins that Voyager does not and voyager has commission-free trading — but being honest most people shouldn’t invest in the little-know altcoins on Binance, but rather stick to the more trustworthy legitimate projects that Voyager lists — because of this we think Voyager is better for most folks.
To sum up this article: We believe Voyager is better for most people because Voyager has lower commissions/trading-fees than Binance, and is much simpler to use — especially on mobile devices.
Voyager also offers a $25 sign-up bonus which is much better for most people than the 5% lifetime discount on trading fees binance offers, as unless you’re trading/buying more than $500,000 of cryptocurrency on binance then you’ll make more from Voyager’s sign-up bonus.
Which has less fees - Voyager or Binance?
This is more or less a draw — While Voyager claims to be Commission-Free in practice the spread when trading on Voyager is a bit higher than on Binance, so binance’s commission rate more or less is made up for by the better spread on alt-coins. Voyager often has slightly better rates (when factoring in binance’s fees) for big boy cryptocurrencies like Bitcoin and Ethereum.
While Voyager is technically commission-free at this stage the spread makes up for the lack of commission they charge and thus if you buy $1000 of bitcoin on Binance and $1000 on Voyager you’ll end up with nearly identical amounts of bitcoin rather than more on Voyager.
Which Offers the Best Yields - Voyager or Binance?
Once again more or less a draw — Both Voyager and Binance offer interest on cryptocurrencies, however with Binance you must opt-in for the interest while voyager automatically gives you interest on your crypto — ultimately this doesn’t matter as it’s not hard to opt-in.
The interest rates on deposited crypto is nearly identical, with Voyager offering 1% on ADA and Binance offering 1.02% on ADA for example — ultimately the rates are basically the exact same for both of these companies, and being brutally honest about it — they’re both awful in terms of interest-on-crypto.
If you’re looking for good yields go sign up to Celsius or another crypto-lending/loan paltform — they generally offer 2-3x the yields of either of these exchanges as it’s their primary business rather than a side-thing like interest-on-crypto is for Voyager and Binance.
Which Has The Best Signup Bonus Offers - Voyager or Binance?
Voyager definitely wins this category in our opinion — This is because while Binance’s sign-up bonus offering a life-time discount on trading fees they offer no up-front reward, which means if you decide to trade on a different platform in the future, or through decentralized exchanges, then you get little benefit.
If you plan to trade over $500,000 on Binance then their sign-up bonus would be higher (as you’ll save $25 after trading that much on Binance) — but if you plan to simply buy a few thousand dollars of cryptocurrency and hold it, then Voyager is a much better choice as they’ll give $25 of bitcoin if you simply buy $200 or more of cryptocurrency through the Voyager App within 30 days of opening an account with them.
Which is more Trustworthy - Voyager or Binance?
We’d say this depends on you — While we consider both Voyager and Binance trustworthy enough to use and keep moderate amounts of funds we can see why some people may not fully trust each of them (for different reasons) that we’ll cover below.
Binance has ties to China, or rather their founder and CEO does — while we do not believe China is a threat to users of the exchange, and believe they would not have influence over the creator (CZ) as they are expats who moved to and live in Canada rather than China. However we understand why many people, particularly Americans, may mistrust Binance because of these ties, and because of this we figured we’d disclose them here.
As for Voyager they don’t have any such ties — Instead they’re just an American Company that is ran by literally-who’s that have nothing really concerning in their histories. The problem some people may have with Voyager is that they’re newer than Binance, and not nearly as large, which means they’re less proven — but ultimately we believe they’re trustworthy and competent as well due to their partners, venture capital contributors, and team members.
Personally we do not mind Binance’s Chinese ties, nor Voyagers lack of track record, as both exchanges use top-notch security procedures for handling cryptocurrency deposited onto their exchanges and have more to lose doing something shady than they have to gain at doing such things.
What Advantages does Voyager have over Binance?
In our view Voyager is the easiest to use Cryptocurrency Exchange (especially on mobile) that doesn’t have high fees and is the best choice for crypto newbies or simple investors who want to buy and hold — they’re where we purchase all of our cryptocurrency on currently, and our favorite centralized-exchange currently.
That’s about all the advantages Voyager has over Binance though — and of course the better/easier-to-get sign up promotion (read more about that here), but that’s not to say Binance is a better choice — it’s just many of the categories, such as fees and interest on crypto were draws. The better choice depends on you.
What Advantages does Binance have over Voyager?
This is pretty straight-forward — Binance has WAY more cryptocurrencies on offer than Voyager currently and is better for very wealthy individuals or traders who plan to exchange $500,000+ on the exchange over the coming years.
Beyond that, really truthfully there’s not many benefits to Binance over Voyager — however those two differences make all the difference if you are an active trader, high-networth individual, or love dabbling in alt-coin like I do — However now that Decentralized exchanges have liquidity I use Binance less and less for altcoin investing and use Voyager more as Binance’s fiat on-ramp is simply not very nice to use compared to Voyagers (can’t buy crypto immediately after deposit like with Voyager).
If you are going to go get a binance account make sure to use soneone’s referral link to get yourself a life-time discount on trading fees (their form of a sign-up bonus), you can use ours by clicking here or simply ask a friend who uses Binance for their code — it’s up to you.