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, however for smaller alt coins they are about the same or slightly worse.
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 — if you’re buying bitcoin or ethereum this is likely to result in you saving a dollar or two in fees, and if you’re buying a smaller alt coin you’ll probably pay $1 more in fees for a $1000 purchase.
Ultimately it’s not a big deal either way — their fees are about the same in practice and thus we must look to other things to decide between these two crypto-brokers.
Which Offers the Best Yields - Voyager or Binance?
Voyager wins this category firmly in our view — 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.
However while their interest rates used to be comparable, coming in at just a few % per year, that has all changed now. Voyager partnered with Celsius, which gives Voyager users access to the best rates in the industry for crypto deposits. Often they’ll be a little lower than Celsius’s actual rates, so if you’re seeking yield and have large amounts of crypto you’d likely be better off going with a dedicated crypto lending platform like Celsius or BlockFi, both of which are fantastic choices now.
Binance has yet to really go deep into the crypto-lending game, and while they have some decent staking services truthfully we no longer use them as there are simply better options out there, especially for US citizens/residents. For staking we prefer to either do it ourselves or use Kraken.
In practice this all means with Voyager you can now expect rates of between 5% and 9% for most big crypto coins, however for some such as cosmos they offer much lower (which is why we prefer to stake it ourselves or with Kraken), and for Binance you can expect anywhere from 1% to 5% for most big crypto coins, although they offer a few small coins that have a higher yield. For reference BlockFi and Celsius offer yields around 4% to 10% depending on the coin.
Which Has The Best Signup Bonus Offers - Voyager or Binance?
Voyager definitely wins this category in our opinion — This is because while Binance offers a sign-up bonus offering a life-time discount on trading fees outside the USA inside they offer no sign-up bonus due to regulatory issues, which means while if you’re a big trader and are not a US citizen going with Binance would save you more money in the long-term, trading millions of dollars of crypto, for average people and readers of this article they don’t offer a sign-up bonus at all.
If you plan to trade over $500,000 on Binance then their sign-up bonus would be higher (must be a non-US citizen — you’d 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.
To get the Voyager Sign-up Bonus you can sign up using our code ZACYAJ or any of your friends codes who already have Voyager — although we’d appreciate it if you use ours as we get a small bonus as well if you stay with Voyager and don’t just bounce right after getting your $25.
As for the Binance sign-up bonus, we’re no longer allowed to refer non-US customers to that deal, so if you’re non-US you should ask around for someone who’s also not a US citizen/resident to refer you, but as for now we can’t help you with that — and as we said about US citizens/residents receive no bonus with Binance.
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.
Voyager also isn’t as hostile to US citizens, as a US/Canadian company, while Binance has had to become very hostile to US citizens and residents, or anyone who even travels to the US, out of fear of the US government penalizing them — this makes Binance not so good for US people.
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.
Binance also makes it easy for Non-US people to have an account on the platform, while Voyager doesn’t allow most non-US people to use the app whatsoever.
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).