Voyager and Coinbase are both big names among the major cryptocurrency platforms, but only Coinbase is recommended at this point. Due to financial troubles, Voyager filed bankruptcy in July 2022 and had to put both trading and withdrawals on hold.
The Voyager app is still available, and the team behind it is hopeful for a comeback, although it's hard to imagine it will be able to recover. Coinbase, on the other hand, remains in a good position as one of the most popular cryptocurrency exchanges. In this look at Voyager vs. Coinbase, we'll go over what made these platforms different.
Voyager vs. Coinbase: At a glance
Editorial update
Voyager is undergoing bankruptcy proceedings and we do not recommend Voyager as a viable option due to the liquidity concerns. At times, Voyager has restricted trading and limited withdrawals due to these liquidity concerns. We suggest reviewing our best cryptocurrency apps for other options.
| Offer | Voyager | Coinbase |
|---|---|---|
| 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. | 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 | No commissions, Voyager may earn a fee when it beats its quoted price and you save money | Variable fees (Coinbase), 0%-0.60% (Coinbase Advanced Trade) |
| Next Steps | Read Review | Read Review |
Voyager vs. Coinbase: Fees
Before pausing all its services, Voyager offered commission-free crypto trading and compared prices across different platforms. It did charge a spread fee if it could beat its quoted price on an order. Even though Voyager was technically commission-free, its spread cost more than fees on some exchanges, including Coinbase.
Coinbase fees depend on which of its trade tools you use. It offers two: Simple trade and advanced trade. While the simple trade option is easier to use, it also has more expensive fees. Advanced trades have more features and are much cheaper, with fees ranging from 0% to 0.60%.
If you place an advanced trade, the fee is determined by your trading volume. Coinbase also uses a maker-taker model for these trades. Orders that make liquidity, meaning the ones that aren't filled right away, incur maker fees. Orders that take liquidity, meaning they are filled immediately by an existing order, incur taker fees.
Here's Coinbase's fee table for advanced trades:
| 30-DAY TRADING VOLUME IN U.S. DOLLARS | TAKER FEE | MAKER FEE |
|---|---|---|
| Up to $10,000 | 0.60% | 0.40% |
| $10,000 to $50,000 | 0.40% | 0.25% |
| $50,000 to $100,000 | 0.25% | 0.15% |
| $100,000 to $1,000,000 | 0.20% | 0.10% |
| $1,000,000 to $20,000,000 | 0.18% | 0.08% |
| $20,000,000 to $100,000,000 | 0.15% | 0.05% |
| $100,000,000 to $300,000,000 | 0.10% | 0.02% |
| $300,000,000 to $500,000,000 | 0.08% | 0.00% |
| Over $500,000,000 | 0.05% | 0.00% |
Data source: Coinbase.
Simple trades on Coinbase have either a flat fee or a variable percentage fee. The variable percentage fee, which is almost 1.5%, applies to orders of $205 or more. Smaller orders have the following flat fees:
- Up to $10: $0.99
- Above $10 to $25: $1.49
- Above $25 to $50: $1.99
- Up to $205: $2.99
For an example of how different fees can be on Coinbase, a $1,000 cryptocurrency purchase would cost you $0 to $6 in fees through the advanced trade tool. If you used the simple trade tool, it would cost you $14.68.
Voyager vs. Coinbase: Cryptos available
Cryptocurrency selection is a strong point for both of these platforms. Voyager's lineup includes over 100 cryptocurrencies, and Coinbase has more than 200 available.
Those numbers don't tell the whole story, as there are actually a couple of major cryptocurrencies available on Voyager, but not on Coinbase. The biggest example is Tron (TRX). Popular privacy coin Monero (XMR) is another one. It's a moot point now, though, since trading on Voyager isn't available.
Fortunately, investors who are looking for a wide range of cryptocurrencies can still go to Coinbase. It has most of the market leaders and an assortment of smaller cryptos. This exchange also adds new options frequently. Here's a quick look at some cryptocurrencies you can buy and sell on Coinbase:
- Bitcoin (BTC)
- Ethereum (ETH)
- USD Coin (USDC)
- Cardano (ADA)
- Dogecoin (DOGE)
RELATED: See The Ascent's guide to Cryptocurrency Availability at the Top Crypto Exchanges.
Voyager vs. Coinbase: Wallets
Voyager offers a custodial wallet, which means Voyager has the private keys and control of its clients' crypto funds. The platform is also now the perfect example of why so many crypto enthusiasts say "not your keys, not your coins" when referring to these types of wallets. Before filing bankruptcy in July 2022, Voyager paused all withdrawals, leaving users unable to access their cryptocurrency.
Coinbase provides a custodial and a non-custodial wallet option. A Coinbase account serves as a custodial wallet. The exchange also offers Coinbase Wallet, a free digital wallet app that anyone can download, whether they're a client or not. You can also withdraw your crypto from Coinbase to a different crypto wallet, if there's another one you prefer.
COMPARE OPTIONS: Best Crypto Wallets
Voyager vs. Coinbase: Security
There's no comparison between these two platforms when it comes to security. Coinbase has a long list of security features and an excellent reputation in this regard. It's hard to imagine anyone will feel safe keeping cryptocurrency on Voyager for a long time, if it ends up surviving.
Coinbase has been around since 2012, and it's known as one of the most secure crypto exchanges. It offers several protections for your crypto and your account, including:
- Two-factor authentication (2FA): This mandatory feature requires two forms of authentication, such as your password and a code sent to your phone, to access your account.
- Approved withdrawal addresses: You have the option of setting up a whitelist of approved crypto wallet addresses. If you activate this option, crypto withdrawals can only be made to those addresses.
- Secure crypto storage: Coinbase keeps over 98% of deposits offline in cold storage facilities that are guarded and monitored 24/7. Since cold storage isn't connected to the internet, it's generally considered the safest storage option.
- Insurance: Coinbase carries crime insurance to protect a portion of digital assets against theft and cybersecurity breaches. Note that this doesn't cover unauthorized access to your account due to a loss of your credentials. Cash balances are held in banks with FDIC insurance.
Voyager had many of the same protections, including 2FA and cash storage in FDIC-insured accounts. Its downfall was related to its crypto lending program, which it used to pay clients high interest rates on their funds. One of its borrowers, Three Arrows Capital (3AC), defaulted on a $650 million unsecured loan.
Final take
Even if crypto trading was available on Voyager, it's a platform you should avoid. The fact that it gave out such a massive unsecured loan is a huge red flag, and the clients who trusted it with their crypto paid the price.
Coinbase is the clear choice over Voyager, but it doesn't just win by default. It has just about everything you could want in a cryptocurrency exchange. It's easy to get started, and it provides educational modules where you can earn free crypto. The exchange also has plenty of tools for experienced crypto investors, including its advanced trade option.
The Ascent's best cryptocurrency apps
There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that's right for you, you'll need to decide the features that matter most to you.
To help you get started, our independent experts have sifted through the options to bring you some ofour best cryptocurrency exchanges for 2022. Check out the list and get started on your crypto journey, today.
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