Voyager Review | Features, Pros & Cons, & Pricing (2024)

If you want to invest in cryptocurrency and need a simple way to start trading, Voyager should definitely be on your radar.

This cryptocurrency broker is a popular alternative to exchanges like Coinbase and Gemini. With support for over 60 cryptocurrencies and commission-free trading, it’s also very beginner friendly.

But just like picking the right brokerage account, you need to find a cryptocurrency broker that has the features you need. That’s why our Voyager review is covering what Voyager offers, its fees, and how to decide if it's the right platform for you.

Voyager is a cryptocurrency broker that began in 2017. The company has its headquarters in Jersey City, New Jersey, making it a U.S.-regulated company. Voyager is also publicly-traded like its competitor Coinbase.

Voyager supports over 60 digital assets and lets you buy, sell, and manage your cryptocurrency portfolio from its mobile app. This is different from most exchanges that prioritize desktop support. Currently, Voyager is available in every U.S. state except New York. Voyager is also planning to expand to Canada and Europe in the near future.

Overall, Voyager aims to simplify cryptocurrency investing. According to its website, you can sign up and begin investing in three minutes or less.

Voyager lets you buy over 60 digital assets right from its Android or iOS app. Voyager is also commission-free and states you only pay the quoted price you see on trades. However, you still pay a spread fee. And if Voyager can beat the quoted price, it takes a portion of those savings.

It’s also important to note that Voyager is a broker, not an exchange. This means Voyager lets you place trades and uses its tech “Smart Order Router” to let you buy cryptocurrencies from various exchanges at the lowest prices possible.

Because of this technology and commission-free structure, Voyager is a cost-effective way to invest in cryptocurrency. Popular cryptocurrencies and stablecoins it supports include:

You fund your Voyager account with USD from your bank account or cryptocurrency from another wallet. New users have a daily deposit limit of $5,000.

Voyager lets you place trades as market or limit orders. This gives you the flexibility to buy cryptocurrencies at current market rates or to set a limit order to buy a particular crypto if the price drops.

Cryptocurrency you buy is held in Voyager’s custodial wallet. This is the same system Coinbase and most exchanges use. If you want to increase your security, you may want to eventually move your funds from Voyager to a wallet like Ledger where you have full control.

One compelling Voyager feature is its cryptocurrency rewards. With Voyager, you can earn passive crypto rewards on your holdings. This is similar to companies like BlockFi and Celsius that let you deposit cryptocurrency to earn interest.

Here’s how Voyager’s cryptocurrency rewards rates look for several popular cryptos and stablecoins:

Rates are subject to change. Additionally, Voyager may lend, sell, invest, or use your deposited funds in various ways, which presents risk. This is the same risk you face when lending on platforms like BlockFi.

You can withdraw your funds anytime but the withdrawal process can take up to seven days. Rewards are paid out as the same cryptocurrency you deposited, and Voyager pays rewards on the fifth day of each month.

VGX is currently trading at around $5, down from a high of around $6.80 in early 2021. This means it currently costs approximately $2,500 to secure your spot in Adventurer, Voyager’s first loyalty program tier.

However, if you’re a serious Voyager user, this price could be worth it. For example, the earnings reward boost pays you an annual reward percent boost on various cryptocurrency assets Voyager supports.

While it isn’t currently available, the Voyager debit Mastercard is a zero-fee, cryptocurrency rewards card that’s in the pipeline.

This card lets you spend USDC like cash while earning rewards on your balance. Currently, the interest rate for USDC on Voyager is 9%, which is far more than you can find in any basic checking or savings account.

Additionally, Voyager states that loyalty program members will eventually earn cryptocurrency cash back for spending. Voyager states the rate will be 0.10% to 0.30% depending on your loyalty program tier.

It’s difficult to judge this card fully until it hits the market. But it’s promising that Voyager is expanding its offerings and also rewarding VGX token holders.

Staking involves locking up cryptocurrency to help validate transactions and earn crypto rewards. This is how Proof-of-Stake (PoS) cryptocurrencies like Algorand and Cardano operate versus something like Bitcoin, which relies on mining and Proof-of-Work (PoW). Learn more about the difference between PoS and PoW.

Jargon aside, the takeaway is that staking lets you earn passive income with your cryptocurrency. And, you can stake VGX tokens and currently earn 7% in annual rewards.

If you have an active Voyager account, you actually stake VGX automatically. Alternatively you can buy VGX and stake it on your own through MetaMask.

Earning 7% isn’t groundbreaking when you consider platforms like Celsius pay upwards of 17% APY. However, if you’re buying VGX to get into the Voyager loyalty program, automatic staking is an extra perk.

Voyager pays you $25 in free Bitcoin if someone you refer funds their account and spends at least $100. Your referral also gets $25 in free Bitcoin.

This is a very competitive referral program. In fact, it beats Coinbase since Coinbase has the same terms but only pays each person $10 in free Bitcoin. Plus, you can earn up to $40 per referral through Voyager’s loyalty program.

One advantage of using Voyager versus many cryptocurrency exchanges is that it’s fairly low-cost. As mentioned, Voyager uses its Smart Order Router technology to find pricing discrepancies across various exchanges to try and beat quoted prices. If Voyager beats the quote price, it takes a portion of those savings and passes some savings onto you.

Unfortunately, Voyager doesn’t state how much it takes. Additionally, some users have been unhappy with Voyager's spreads and have complained that limit orders are often more expensive than market orders. This is why it’s good practice to compare live prices on several platforms before trading.

Voyager also charges dynamic withdrawal fees which can get pricey. For example, previous withdrawal fees have included 0.0005 BTC and 35 USDC. That's like paying $30 to $35 to take money out of an ATM.

Because of the fee structure, Voyager can be more cost-effective than trading with Coinbase or Gemini, provided you don’t make too many withdrawals.

It’s also worth noting that Voyager doesn’t have the best interest rates. It does beat many exchanges, but platforms like Crypto.com and Celsius pay up to approximately 14.5% APY and 17% APY respectively.