No doubt you’ve read this story: Why the Bitcoin Dip Sent Voyager on Trip to the Moon. Voyager Token VGX soared 46.55% to $4.13 over 24 hours leading to last Wednesday night. What’s Moving? VGX, the token of a cryptocurrency brokerage service, has spiked 59.09% over a seven-day trailing period. The 24-hour trading volume of VGX rose 749.24% to nearly $63.7 million, as per CoinMarketCap data.
Against major cryptocurrencies — Bitcoin BTC and Ethereum ETH — VGX has shot up 42.68% and 40.23%, respectively. That’s phenomenal!
Trading cryptocurrencies entails a generally complex procedure that is often challenging to newcomers in the crypto space. However, several exchange platforms have sprung up since the crypto boom to provide crypto enthusiasts with customized trading experiences. On the other hand, Voyager offers crypto-brokerage services and allows users to purchase crypto directly with fiat.
To make proper judgments and Voyager crypto review, let’s determine who is behind the Voyager organization and dissect the Voyager application for a better understanding.
What is the Voyager Crypto app?
The Voyager crypto app is a mobile application used by crypto holders to buy, sell and hold cryptocurrencies of their liking. The crypto app is available for both iOS users and Android users. Unfortunately, desktop users have no provision as the platform is only available in the mobile app version.
- Voyager offers crypto-brokerage services and allows users to purchase crypto directly with fiat.
- By connecting to more than a dozen of the most trusted and secure crypto exchanges, the Voyager Smart Order Router gives access to a large crypto trading market.
- The platform also offers advanced market data, interactive charts, and professional research to help users gain a competitive edge in the crypto market.
- The VGX token is planned to enable all services the platform offers.
Currently, the Voyager accounts can be created directly from the mobile app; however, users have to await verification and approval before they can fund their Voyager accounts and begin to use them.
Multiple complaints have emerged regarding the application process on the Voyager platform, with many users complaining that the process is complicated, time-consuming, and not user-friendly.
As of this writing, the Voyager platform claims to offer more than 80 cryptocurrencies for trading on its app. The platform also offers a unique commission-free trading system considered lucrative for investors.
Additionally, the crypto platform offers a debit card that earns up to 9% on deposits. The card is universally accepted on all outlets where Mastercard debit cards are accepted. The card is directly connected to your Voyager account and gives users the ability to earn rewards upon spending. Most payments are made using USDC; a Coinbase backed Stablecoin.
The platform provides all features at no extra costs and hidden fees. It offers a Voyager Earn program that allows cryptocurrency holders to earn up to 12% on cryptocurrencies such as Polkadot. Currently, the reward programs are available for users holding DOT, USDC, VGX, MATIC, and BTC, among others totaling more than 30 digital assets.
Voyager Crypto App Overview
One major challenge in the crypto space is telling apart legitimate crypto projects from the fakes. Voyager has also faced the same level of criticism from users since regulation has become a major aspect of the crypto space.
The company was founded in 2017 and has since become one of the best broker platforms in the United States. Stephen Ehrlich is the current publicly-traded company in Canada and the US Over the Counter (OTC) market. It trades under the ticker symbol VYGVF.
Since the Voyager team is concerned about transparency and trust to its users, the platform has been fully regulated, and a percentage of its finances are insured by the FDIC(Federal Deposit Insurance Committee). Today, Crypto assets in the cryptocurrency market have a total market cap of over 2 trillion dollars, indicating that necessary regulations should be implemented to handle digital assets properly.
The Voyager app is backed by the Voyager organization, a publicly-traded and licensed corporation. Additionally, the reserves are regularly audited to ensure all crypto assets in the platform’s custody are properly accountable.
Currently, the Voyager app has its USD held by the Metropolitan Commercial bank. The crypto platform claims that it has deposits of over $250,000 with the bank FDIC insured. These claims assure users of the Voyager app that the platform is safe and their funds are well-protected.
The Voyager accounts are meant to make cryptocurrencies more accessible to the public. Due to its seamless integration with other exchange platforms, the mobile application can offer transparent, easy, and secure means for crypto enthusiasts to buy and sell crypto coins on the go. Users can easily make crypto investments directly using their bank account funds through the mobile app.
How Voyager Crypto account works
There are several benefits to this service. Essentially, Voyager is not an exchange; instead, it is a special proprietary technology that allows Voyager customers to access dozens of other cryptocurrency exchange platforms. The Voyager Smart Order Router is responsible for order routing across multiple exchanges.
In 2022, there are advanced plans for the Voyager crypto app to start full-fledged operations in Europe; however, the platform is currently available only to US citizens in all states but New York. However, the lack of global presence is a major setback to crypto enthusiasts who would like to access their tokens anywhere in the world. Despite these challenges, there have been multiple communications from the Voyager team, ensuring interested parties are working hard to provide Voyager services in Europe and beyond.
The Voyager account can be used for crypto trading and cryptocurrency holding. Investors willing to have their coins available directly and easily on their mobile devices should consider the Voyager app. Also, the mobile app, which is available on both Google Play Store and Apple app store, allows users to trade several cryptocurrencies with a commission-free fee structure.
Once you create an account on the Voyager platform, you await verification and approval, after which you are granted access to the vast market of cryptocurrency exchanges. On Voyager, you can access popular cryptocurrencies like Ethereum and Bitcoin, as well as Stablecoins such as USDC. Multiple other Altcoins are also available such as Polkadot and Chainlink.
The Voyager account restricts users on the minimum account balances. The mobile-based platform allows a minimum deposit of $10 for account creation.
Subsequently, the funds on the Voyager platform are screened and verified. The platform, however, provides an option for uncleared funds to be deposited of up to $5000. This provision is for crypto investors who want to use their funds to trade immediately.
On the platform, buying orders can be made, and the order routing system will purchase the cryptocurrencies from the most optimal choice at the moment of the trade. The platform provides an intuitive cryptocurrency investing platform that allows crypto holders to trade with $0 for all order placements.
However, it is crucial to note that Voyage app accounts are individual taxable accounts and can only be accessed on iOs and Android devices. Besides the potential to earn interest on these digital assets, the platform provides a blend of marketplaces from more than a dozen crypto exchange platforms to provide investors with the ultimate trading experience.
The mentioned Smart Order Routing system scrapes the market for the most suitable price when an order placement is done. The system allows the Voyager account holders to achieve the most desirable market prices anytime they place orders. The platform’s ability to analyze and compare market prices on different exchange platforms and pick the optimal choice is a key factor in the entire operations of the Voyager system.
May would wonder how the Voyager platform makes money or earns interest since they do not charge any commissions on trading fees. Well, the answer lies in the smart order system. Here is how it works.
When you place an order on Voyager, the smart system will scan through and determine the best price possible. The platform will then take a small fee off the price difference between the market and buying prices. The result is that the buyer buys cryptocurrency tokens at more affordable prices, and the platform gets a reward for looking for lower prices available. Therefore the Voyager digital application is a mobile crypto broker app that only makes money when you make money.
What does Voyager Crypto offer?
The Voyager crypto mobile apps offer several products. For instance, the service allows cryptocurrency holders to earn interest in their cryptocurrencies while trading or holding on the crypto broker platform.
The interest rates fluctuate and are dependent on the type of coin the crypto investor holds. Also, not all Voyager users are eligible to earn interest. The Voyager accounts have minimum deposit balances that qualify users to earn interest on their crypto investments.
Although the platform is somewhat limited in the number of cryptocurrencies available for trading, the users can enjoy convenience on the well-designed applications with proper attention to ease of use.
The broker offers an affordable option to multiple users across the US to handle cryptocurrency investments through their mobile phones.
Essentially the smart order routing system allows investors to take advantage of price discrepancies on different crypto exchange platforms that Voyager connects. The technology makes Voyager stand out as it simplifies trading, reduces expenses, and benefits crypto holders and the platform itself.
Apart from the unique smart order routing system available on the Voyager exchange, the platform also boasts an intuitive user interface that allows users to trade easily. The mobile’s design is simple and neat, suitable for beginners and advanced users in the crypto trading space.
The commission-free trading offered by the platform allows seasoned traders to make more profits on the platform by avoiding trading fees that are often found on nearly all exchange platforms. Several exchange platforms on the market make money by charging traders a percentage of their trading values. Although the entire approach could be different, it is important to notice that they charge nonetheless.
However, popular exchange platforms use a hierarchical system that lowers the trading fee charged by investors as their trading volumes go up. Notice that regardless of these incentives, none of them can match the 0% trading fee charged on Voyager regardless of the amount traded.
Several unique features are available on the Voyager platform that is not easily accessible to crypto investors on other exchange platforms. Perhaps it’s because Voyage is not entirely an exchange but rather an ecosystem that pools together different exchange platforms to offer users better trading and cryptocurrency investing services.
Voyager Crypto notable features
The Voyage app has several desirable features that set it apart from others. For instance, the platform only allows users to trade using USD coins and does not support crypto to crypto trading pairs – a feature is often quite common among advanced traders. This is a significant setback for the platform, although, judging from the interface, the Voyager platform is designed for beginners and intermediate users. Below are some of the unique features of Voyager.
Smart Order routing
This is the most outstanding feature of the Voyager ecosystem. The advanced blockchain technology allows Voyager account owners to trade with the best possible prices due to the system’s ability to scrape the exchanges and find price discrepancies. This system is also extremely vital in ensuring that Voyager makes money since it depends on the price differences to make profits because the platform does not charge trading fees.
Earning interest
Limited crypto exchange platforms and hot wallet providers allow users to earn interest on their deposits. On the other hand, Voyager is renowned for providing its account holders with these reward programs.
The interest rewards vary significantly depending on the coin held or traded by investors. For instance, the Polkadot coin accuses more interest than the mainstream coins like Bitcoin and Voyager native token.
Referral program
The Voyager mobile app also allows its users to benefit from a referral program that allows its users to earn rewards when their referees sign up to the platform.
Today, when you successfully refer a friend and sign in using your referral link. You will both be rewarded with $25 worth of Bitcoin each as long as the referee loads a minimum of $100 and trades with it.
Order types
There are several order types available in the current trading scene. Many advanced traders like to customize their trading experience to allow the process to continue with or without their presence. As a result, the availability of a broad range of order types is encouraged for exchanges that target advanced and professional traders.
The Voyager app appears to target beginners and intermediate crypto investors. Therefore, the app only allows for two order types, the market order and limit order. A market order is executed immediately by buying or selling the digital asset as per the current market price. In contrast, a limit order allows the trader to set a specific price for buying or selling and is only executed when the market prices adjust to the set limit order prices.
What is Voyager Crypto App good for?
Considering the features mentioned above, the mobile crypto app that doubles down as a crypto wallet is suitable for beginners in the crypto world. It is suitable for cryptocurrency enthusiasts who do not want to deal with several exchanges searching for their preferred digital coins.
The Voyager app simplifies handling cryptocurrencies by allowing users to hold, buy and sell cryptocurrencies right from their phones. Similarly, the platform allows for straightforward interest-earning opportunities, unlike other exchanges involving complex processes such as staking.
Today, users of the app can earn anywhere between 1% to 12% APY (Annual Percentage Yield). These rates are quite competitive and are dependent on the amount of deposit on your Voyager account since there is a minimum amount of deposit for users to earn interest on them. Similarly, the interest earned on the various digital assets vary.
Therefore, having established the target audience for the Voyager app, it is prudent to analyze some of its merits and demerits as a mobile crypto app. Below are some common advantages and disadvantages of the crypto exchange and wallet.
Pros of Voyager exchange app
The Voyager mobile cryptocurrency application has several merits compared to its competitors in the market. The platform essentially brings together several exchange platforms on one platform to provide better and more efficient services to its customers.
For instance, the ability to compare prices and pick the best price possible creates a win-win situation for both Voyager and its users.
Unlike most exchanges, the Voyager app does not charge a commission upon trading cryptocurrencies. The commission-free trading system allows users to buy and sell cryptocurrencies freely, making it one of the cheapest platforms to trade crypto today.
The Voyager app allows its users to earn lucrative interest rates on their crypto holdings. Offering higher interest rates on crypto investments sets it apart from other exchanges. Today, Voyager account holders can earn up to 12% Annual Percentage Yield on some cryptocurrencies.
The platform also offers a special feature that automatically allows users to buy cryptocurrencies. Since the trading pairs are in USD coins, users can connect their Voyager app account directly to their bank account to set up automatic purchases. This option is excellent for passive investors who want to purchase crypto coins on a recurrent basis.
Also, since the platform connects several cryptocurrency exchanges, it has several trading pairs to choose from. Today, more than 80 digital assets on the platform are available for free commission trading on Android and iOs devices.
Cons of Voyager exchange app
As expected, the Voyager app does not check all the desired boxes for a crypto exchange or app. However, none of the exchanges provides all the desired features for all crypto investors. Therefore, this review focuses on all aspects of the app to assist enthusiasts in determining if the app is best for their needs.
One major demerit of the Voyager app is its geographical restrictions. The mobile app is currently available only to users in the United States. Despite the restrictions to one country, the app services are still not available to New York state residents.
Similarly, the registration process on the Voyager app is tedious. The process is long and requires you to be verified. Before a user is verified, new registrations are placed on a whitelist and are periodically admitted to the platform as the platform grows. It appears that the platform is not optimized for large traffic yet.
Additionally, the platforms do not offer crypt0-to-crypto coin trades. Although the app is still a work in progress, it currently does not allow its users to trade between two crypto coins directly. All trading pairs involve the US dollar coin. Arguably, this is a good platform for beginner and intermediate traders to start.
How does Voyager compare with others in the Industry?
When reviewing crypto exchanges and other crypto-related products, nearly all crypto holders have common areas of concern. Most investors would want to know how their coins are kept safe, the customer service, the trading experience, trading fee, and geographical restrictions on the platform.
Here we analyze the overall performance of the Voyager crypto app concerning these aspects of concern.
Customer support
The app is undoubtedly among the best crypto services with prompt customer service. It offers customer support via email and an in-app messaging service to help users access help center services quickly and easily.
Security
The platform stores your cryptocurrency tokens securely and is safe from unauthorized hands. The app also has several security features to help secure your account from hackers. For instance, they have implemented a two-factor authentication that sends a one-time password to your email or text. These measures reduce the chances of losing your account and coins to phishing attacks.
Accessibility
Since the platform is only available on Android devices and Apple devices, it appears to be quite portable and easy to use. However, the lack of a web portal is a significant demerit for those who’d like to access their accounts through the web.
Several competitors have both mobile platforms and web platforms, and this restriction to mobile appears as a shortcoming of Voyager crypto.
Trading Pairs
Trading pairs is an important aspect of trading, especially to advanced traders. If an exchange offers only three different trading pairs, it will be less interesting to advanced traders who would like to use a variety.
The Voyager app is undoubtedly limited as far as trading pairs are concerned. It does not offer crypto to crypto trading, a feature that advanced users often use due to the potential lucrative profit margins due to price fluctuations of both assets.
Trading fees and pricing
In this category, the Voyager app scores above all crypto exchange platforms. The platform’s unique order routing system allows it to charge 0% on trading commissions on all trades on its platforms. The feature is one of the most attractive aspects of the crypto app.
Trading fees often become expensive over time, and the ability to trade freely on a crypto platform is certainly a desirable feature to most traders. The Voyager app only charges withdrawal fees on its platform.
User-Interface
The Voyager app has a nice intuitive interface that simplifies interacting with cryptocurrencies. The platform presents an easy-to-navigate UI that allows users to buy crypto coins directly using funds from their bank accounts. The interface is simple and exempts Voyager users from technical matters of trading cryptocurrencies. Since it is not designed to be a full-fledged exchange, the app doesn’t allow users to choose their exchange of choice.
Possible areas of improvement
Since the Voyager app is only available on mobile, it restricts avid desktop users who’d like to access their wallets through the web. Similarly, the app is restricted to the United States, limiting several interested users outside the states. The idea of crypto was to allow a seamless transaction of money around the globe, with no restrictions. However, limiting the access of the Voyage wallet to the states is a huge demerit that should be improved.
FAQs about Voyager Crypto
Crypto investors are often concerned about the legitimacy of their preferred exchange platform. Therefore, some crucial questions are frequently asked about the Voyager crypto app. Below are some famous Q and As on Voyager.
Is Voyager Crypto legit?
Yes, the Voyager platform is legit and regulated by authorities in the United States. Although it is not available for residents of New York, the platform meets all the requirements to operate in all other states in the US. Its reserves are also audited and confirmed by a bank insured by the FDIC.
Does Voyager charge a fee?
The Voyager platform does not charge any trading fees. The platform makes money off scraping for price differences that allow it to cut from the quoted price whenever there are price differences. Therefore, the platform only makes money when it saves the investor money, creating a win-win relationship.
However, withdrawal fees are charged on the platform and are dependent on the amount of withdrawal and the type of cryptocurrency being withdrawn.
Is Voyager available for desktop platforms?
Unfortunately, desktop fans cannot use the Voyager app. The Voyager ecosystem is only accessible through their mobile app, available for iPhone and Android users.
Can I trade coin to coin pairs on the Voyager crypto app?
Unfortunately no. The Voyager platform only allows trading pairs involving the US dollar. For crypto-to-crypto trades, you are better off finding another exchange. Since crypto to crypto trading pairs are considered technical, the Voyager platform typically makes its interface simple and easy for intermediate and new cryptocurrency investors.
Does Voyager have account minimums?
Yes, at the moment, the minimum amount required to create a Voyage account is $10. However, there are more thresholds you need to achieve before you qualify to earn interest on your crypto.
Is using the Voyager Crypto worth it?
The Voyager app could be either a hit or miss for you, depending on your crypto needs. Suppose you are a US resident who needs an app that optimizes crypto buying and selling in a simple, straightforward way. In that case, the Voyager crypto app is undoubtedly something you should consider.
Source: https://www.cryptopolitan.com/voyager-crypto-review/