Voyager vs. Robinhood - Which is Better for You? [2022]

Both Voyager and Robinhood are incredibly easy to use and buy crypto on, however one really shines with it’s much better alt-coin options and transferring ability.

While we use both Robinhood AND Voyager this isn’t to say they’re both good in terms of cryptocurrency — we do not use Robinhood whatsoever for handling cryptocurrency because they do not currently allow withdrawal of cryptocurrency from the platform, which in our opinion is completely unacceptable.

The primary reason we believe Voyager is better for most people is because they not only have more alt-coins to choose from, but they also offer interest/passive-income on crypto and of course they actually allow you to withdraw your cryptocurrency from the exchange and take possession of your crypto at any time.

This makes us much more comfortable holding cryptocurrency with Voyager, as we aren’t trapped in their ecosystem. They also offer a $25 sign-up bonus, which is way better than Robinhood offers.

We’d recommed checking out other guides of ours before deciding on the platform you want to use long-term — for example we have a guide comparing Voyager to Coinbase and another comparing Voyager to Binance that are worth checking out before deciding on which exchange you want to use, but ultimately our personal choice is Voyager.

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Which has less fees - Robinhood or Voyager?

While this may seem straightforward, as they both claim to be commission-free, this is largely nonsense 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.

However when you trade on the Robinhood app, they do exactly the same — Charging 0% commissions, however their spread is often significantly worse than Voyager, being between 0.4% and 1.2% in our experience depending on the coin you’re trading — which is just quite honestly horrible.

Ultimately we’d say Voyager has less fees than Robinhood as their spread is generally tighter and execution is better, meaning you get filled at a better price, but technically both of these platforms are “fee/commission free,” so take it as you will. 

Which Has The Best Signup Bonus Offers - Robinhood or Voyager?

Voyager wins this category in our opinion — Voyager’s sign-up bonus is simply much higher (5x higher on average) than Robinhood’s sign-up bonus, and ultimately isn’t really any harder to get than Robinhood’s bonus.

Robinhood’s free share of stock (around $5 on average) is very easy to get, simply sign-up through a referral link and complete the KYC information and make a deposit to earn a random free stock (generally around $5 in value, but there’s a 2% or so chance at getting a $10+ bonus).

Meanwhile Voyager offers only a $25 bonus, but it’s very easy and straight-forward to get, all you have to do is sign up for an account through this link (no promo code needed) and simply buy $100 or more of crypto through the app and you’ll get $25 in bitcoin right-away deposited into your account.

Overall it doesn’t make sense nabbing just one sign-up bonus, but hey if you aren’t interested in giving out your info to extra exchanges you don’t plan on using don’t collect them both, it’s all up to you of course.

Which Offers the Best Yields - Robinhood or Voyager?

Voyager definitely wins this category as well — We always include this category in comparisons because most exchanges have the ability for you to stake or loan out your cryptocurrency and earn a yield on it — well Robinhood really doesn’t allow this currently at all so Voyager wins this category by default as they at least offer 1-2% per year on most cryptocurrencies you hold on the Voyager Exchange.

While Voyager offers some yield it’s still not good when compared to actual crypto-lending platforms such as Celsius or Blockfi which both offer between  5% and 12% on most cryptocurrencies per year. So if you’re looking for yield, opt for one of them — personally we prefer to use Celsius over BlockFi, but both are good options.

Which is more Trustworthy - Robinhood or Voyager?

We’d say Voyager is trustworthy, but ultimately we wouldn’t trust Robinhood with our Crypto — This is because Robinhood does NOT allow you to withdraw your cryptocurrency or exchange it directly for other assets, nor transfer it to other people — meaning that to take profits or use it you must sell it back to Robinhood and then withdraw the funds to your bank account.

In our view this is unacceptable, as if the dollar is inflating and becoming worthless then you’d get absolutely crushed — Not to mention this raises our suspicions if the cryptocurrency Robinhood allows you to trade actually exists or if they’re paper IOU’s — meaning that if Crypto goes way up they might not actually have the cryptocurrency — of course this is just speculation, but it’s not a risk we’re personally willing to take.

Meanwhile Voyager is quite literally one of the most top-notch of top-notch exchanges in terms of trustworthiness and safety — they don’t have any bad elements, history in their past, or troubling connections. They’ve got insurance against loss, they are a huge multi-million dollar company, they’ve been around for many many years, they have an amazing team, they use multi-sig cold storage for the majority of assets held by them (the gold standard), they allow withdrawals in cryptocurrency or you to sell/trade it for dollars or other cryptocurrencies, etc, etc, etc — they’re definitely trustworthy in our view.

What Advantages does Robinhood have over Voyager?

While it may seem like we’ve simply trashed Robinhood in this article don’t get us wrong — Robinhood is perfectly fine for stock-investing, having minor amounts of crypto on if you just want to diversify and put 1% of your stock portfolio into bitcoin, and it’s pretty alright for buying/trading options on stocks.

It’s just when it comes to cryptocurrency, the only reason you’d probably be looking for a comparison between Robinhood and Voyager, well Robinhood is horrible for Cryptocurrency investing. It’s fine for putting a little money in to hedge your stocks, but if you’re actually investing in cryptocurrency rather than putting a few percent of your money in it as a hedge, then you absolutely should opt for a real cryptocurrency brokerage or app such as Voyager.

Of course if you decide to go with Robinhood make sure to be referred by someone, be it a family member or a friend or us by clicking here to get Robinhood’s free stock sign-up bonus — as we mentioned before it’s likely only $5 but five dollars is five dollars.

What Advantages does Voyager have over Robinhood?

Voyager has everything going for it when it comes to cryptocurrency — it has more or less the lowest fees of any cryptocurrency exchange-app, it offers interest/yield on your crypto-holdings, it has a great $25 sign-up bonus, you are free to withdraw, trade, or transfer your crypto as you please.

Really there’s no downsides to using them for cryptocurrency — however Voyager doesn’t offer any stock/equity/option trading like Robinhood does, so if you want to do those things you’ll need to apply for a brokerage-specific app such as M1 Finance.

Of course if you’re thinking of signing up for a Voyager account visit our page on Voyager’s current promotions, which sometimes has more than just the standard $25 sign-up bonus Voyager always offers new users.

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