Editorial update
We do not recommend Voyager as a reliable cryptocurrency exchange. The company has faced liquidity issues and since filed for bankruptcy. For the latest updates on the situation, visit their blog posts. To find better options to consider, check out our list of the best cryptocurrency exchanges.
Voyager is a cryptocurrency investing app for iOS and Android, connecting you to more than a dozen crypto exchanges for more than 50 digital currencies and offering up to 9% APY on some assets. Read our full Voyager crypto review to determine whether this platform is right for you.
Ratings Methodology
Our Rating:
Rating image, 2.00 out of 5 stars.
2.00 stars
Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Bottom Line
The fact that Voyager is undergoing bankruptcy means it's not a product we recommend.
Fees:
No commissions, Voyager may earn a fee when it beats its quoted price and you save money
Account Minimum:
$10
Full Voyager review
This cryptocurrency broker is a good fit for: Voyager is undergoing bankruptcy proceedings and we have concerns over recommending it as a cryptocurrency exchange.
Pros
- Access to multiple exchanges with one account
- 50-plus digital assets available
- Commission-free trades
- Earn high interest rates
- User-friendly mobile app
Cons
- Liquidity concerns and bankruptcy uncertainty
- No coin-to-coin trades
- Long verification process
Alternatives to consider
If you're seeking a simple-to-use app for diversified investing: SoFi offers cryptocurrency trading, in addition to solutions for diversified investing needs, from a robo-advisor to a stock brokerage account.
If you want to manage crypto trading and U.S. stock trading in one app: Robinhood's app has been around since 2015. It lets you trade in 17 cryptocurrencies with zero commission fees. Stocks, ETFs, and options can also be traded commission free.
| Offer | SoFi Active Investing Get up to $100 in crypto with a qualifying first trade | Robinhood Limitations Apply Earn a $25 to $600 reward |
|---|---|---|
| Rating | Rating image, 4.00 out of 5 stars. 4.00 stars Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.50 out of 5 stars. 4.50 stars Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. |
| Commissions | $0 for stocks, 1.25% for cryptocurrencies | $0 for stocks, ETFs, options, and cryptocurrencies |
| Next Steps | Open Account for SoFi Active Investing Read Full Review | Open Account for Robinhood Limitations Apply Read Full Review |
Top perks
Access multiple exchanges with one account
As a broker, Voyager connects you with more than a dozen cryptocurrency exchanges to trade more than 50 currencies. This means you can build a diverse portfolio of crypto assets without having to sign up for multiple exchanges and manage multiple accounts. When you make a purchase or a trade, you select the currencies you want to buy or sell, but you don’t choose which exchange they come from.
Through Voyager’s app, you can monitor the performance of each asset you hold, as well as your whole portfolio.
Earn up to 9% APY
Assets in your Voyager account can earn interest on any of 24 coins if you meet the minimum balance. Rates fluctuate, but Voyager says you can earn up to 9% APY on stablecoins, such as USDC, and 6.25% on Bitcoin.
Interest accrues daily and compounds monthly. Your average monthly balance for an eligible coin has to meet the minimum to earn interest for that month. You earn interest on any eligible assets in your account, whether you purchased them on the Voyager platform or deposited them from an external wallet.
Automatic buying
Put your crypto investing on autopilot by setting up recurring buys for individual coins. You connect an external bank account to fund the buys (as you would with a traditional investment account), and Voyager purchases the coin of your choice on a schedule you set. Assets live in your Voyager account and may earn interest.
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What could be improved
Liquidity concerns
Voyager is undergoing bankruptcy proceedings. Accordingly, there is a chance that client funds and/or trading capabilities could be at risk.
No coin-to-coin trades
You can only trade coins to U.S. dollars for now, though Voyager is working on adding coin-to-coin trading. To buy on the app, you fund your account with USD from an external bank account. You sell crypto in the app for USD, and the proceeds are deposited into your Voyager account until you make a withdrawal to an external account.
Long verification process
Voyager isn’t keeping up with growth right now, so new customers are put on a waitlist and granted access to the platform on a rolling basis. It doesn’t offer an exact timeline for account approval, so you may have to wait a while before you can trade on the app.
How Voyager works
Voyager is a cryptocurrency broker that facilitates trading across more than a dozen of the best cryptocurrency exchanges. It’s not an exchange itself; instead, it uses proprietary technology called the Voyager Smart Order Router to give customers access to dozens of currencies across multiple exchanges.
U.S. residents in any state except New York can trade on the platform. Voyager intends to expand internationally in 2021, so anyone outside the U.S. can join a list to get on the platform when it does.
You have to download the app to use Voyager, and it's available for iOS and Android. You create an account and provide information for identity verification, which is standard for crypto platforms (and most financial institutions) under U.S. regulation. Once your account is verified, you can fund it and start trading.
Note that new customers are currently wait-listed and given access to the platform on a rolling basis, so you might experience a delay before you can trade on the app.
You can fund your account with USD or crypto through these methods:
- Connect your bank account via Plaid to deposit funds in USD. New accounts have a daily deposit limit of $10,000.
- Deposit Basic Attention Token, Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Tether, USD Coin, True USD, or Voyager Token from another wallet into a deposit address you generate through the app. There’s no limit on crypto deposits.
You can automate your investment by setting up a recurring buy in your account. It pulls USD funds from your external bank account and purchases the coin of your choice at an interval you set.
Some assets in your Voyager account are eligible to earn interest up to 10% APY, though the rate varies depending on the currency.
Fees overview
Voyager trades are technically commission-free -- you never pay anything above the quoted price for a trade. Instead, Voyager takes a small cut of the difference if it finds you a price below its quote and lets you keep the rest. So Voyager only takes money if it saves you money.
| Item/Service | Voyager Cost |
|---|---|
| Trade commission | Varies by trade; only when Voyager beats its quoted price and you save money |
| Crypto withdrawal | Varies by coin |
Cryptocurrency selection
By connecting to more than a dozen exchanges, Voyager gives you access to trading in 57 currencies. The platform supports Bitcoin, Ethereum, Litecoin, and a huge selection of other DeFi currencies and altcoins.
Is your cryptocurrency safe with Voyager?
Voyager is a U.S.-based and U.S.-regulated, publicly traded company. Up to $250,000 USD held in your Voyager account is FDIC-insured through partner banks.
Your personal and financial information on the platform is protected using industry-standard security protocols, including encrypted storage and secure data transmission. Plaid, which connects your bank account to the platform, uses bank-level security and is trusted and used by more than 2,000 financial institutions in North America.
This all said, Voyager has limited trading and withdrawals while undergoing bankruptcy proceedings. So, there is some safety with your cash that's uninvested, but FDIC insurance doesn't cover invested cryptocurrency holdings.
