Voyager is one of the most popular cryptocurrency brokers currently available. They have access to a wide range of currencies and make trading easy. It’s not necessarily designed with crypto beginners in mind, but the platform is still reasonably approachable.
If you’re thinking about trading in cryptocurrency, Voyager is one of the brokers you should know about.
In this review, we’ll go over the basics of how Voyager works, its advantages and disadvantages, and which kinds of users Voyager is best for.
Cryptocurrency is a big part of what’s pushing financial changes in the world today. Crypto might not be as closely regulated as other kinds of investments, but that isn’t a disadvantage for a lot of the most successful cryptocurrency traders.
Voyager is a crypto broker, which means that it operates a lot like a traditional investment broker but is focused entirely on cryptocurrency.
Trading crypto is meant to be streamlined on this platform, making a good option for traders who are looking to be able to trade quickly and efficiently. Low account minimums and relatively high deposit maximums are also big draws for traders who are serious about making money with cryptocurrencies.
One of the bigger differences between Voyager and other crypto brokers is that Voyager doesn’t charge commissions on your trades, which makes it one of the more affordable options. They also have access to 50+ currencies so you have lots of options to trade, including the most popular cryptocurrencies.
Don’t go looking for a website for Voyager, though. Voyager is a 100% mobile platform and doesn’t have any desktop functions you can access. You’ll be able to use the app on your phone or tablet, but this platform isn’t accessible if you prefer to work and trade on your phone.
Now that you have a basic idea of what Voyager is and how it works, let’s take a closer look at the details behind this app.
Our Review Of Voyager, Is It A Good Option?
There’s a lot that goes into making a good crypto broker. The crypto market can be a lot more volatile than traditional stocks and trading options, which means that it’s important for traders to have immediate access to the market, up-to-date information, and a streamlined platform to help respond to market changes.
Packing all of that into a mobile-online platform is an ambitious challenge.
While Voyager is a popular option for crypto traders, that doesn’t, by itself, mean that they’re a good option or an effective app. We’ll break down the different aspects of Voyager, from its ease of use and app design to the available currencies’ ease of trading. That way you’ll have the details you need to determine if Voyager is the right crypto trading option for you.
Voyager Account Fees And Accessibility
Voyager is designed to be an accessible and affordable option and mostly succeeds on both fronts. There is a low $10 minimum account deposit to open your account and start trading, which means that most people can afford to use Voyager. Of course, the more money you have to start trading the easier it is to be successful and make money.
Voyager also has relatively minimal fees for an account. They don’t charge a commission on your trades, which means you don’t have to worry about losing a percentage of your profits to the commission the way you do with some other brokers.
However, there are some basic fees for transferring money out of your account, but none of them are too expensive. You can expect similar fees to other brokers, and you only pay the flat fee per token. Wire transfers are a little different, and you’ll pay a $50 fee for each wire transfer.
Overall Voyager does well in both accessibility and affordability. They’re not too expensive for most users and help protect user profits by avoiding excessive fees or high commission prices.
How Does Voyager Make Money?
Voyager isn’t different from other brokers in that it needs to make money to succeed. That money pays for the developers, maintaining the news feed, maintaining access to the traded currencies, and other important background services that keep the app running.
But, without charging a commission, how does Voyager make money?
The key is Voyager’s Smart Routing system which helps target buying toward the best opportunity, maximizing profits. Rather than charging a commission, Voyager takes a small percentage of the profits when their Smart Routing system can make a trade at a better price for the user.
Both Voyager and the user benefit when this happens. Voyager makes a small amount of money on the trade, and the trader has an opportunity to make the trade even more advantageous when they get a better price.
This is another of the big draws for traders. Unlike many brokers, Voyager doesn’t make money simply because people are using them to trade crypto. Voyager only makes money when the traders on the platform also make money.
Voyager Ease of Use
One of the most important aspects of any crypto broker is how easy, or difficult, it is to use. A difficult broker will make trades harder and slower than easier brokers. That doesn’t mean easier is always better though. Brokers have the challenge of balancing ease of use with precision and speed. The more precise the broker is when it comes to trading price and time, the better off traders tend to be.
So, the right balance is a broker that doesn’t get in the way, while also ensuring good trading conditions for the traders.
Overall, Voyager does well in both regards, but let’s take a closer look at how they manage it.
The Smart-Routing system we’ve already mentioned is one of the biggest advantages Voyager gives in terms of ease of use. That’s because Voyager automatically helps make sure you get the best available price by matching your order to the best available offer.
The difference usually isn’t huge, and you can even ignore it a lot of the time when you’re planning your trading strategy, but the system helps improve your profits. Since this system is mostly silent, it’s an advantage for beginners and experts alike. You don’t need to know how to manipulate smart routing to benefit, it just happens.
Easy Account Signup
Since Voyager only makes money when its traders make money, it has a vested interest in having a low barrier to entry. The more traders in the crypto market using their broker, the more potential for profit the app has.
That means that signing up for your account and making your starting deposit are both incredibly simple. You’ll just provide a little personal information, including the financial information to make your first deposit, and go through the secondary authentication process to start your account.
You can sign up for Voyager in as little as five minutes if you need to.
Knowing how to submit orders can be one of the most difficult parts of using any broker. Fortunately, Voyager is a bit of a mold-breaker in that regard. Even if you’ve never used a trading broker before, much less a cryptocurrency broker, you’ll be able to use Voyager’s ordering system.
Since trades are calculated in USD, you won’t ever have to worry about the non-crypto value of the trade. Simply type in the amount you want to trade of the currency you’re trading in dollars and Voyager will tell you the value of that amount in your chosen currency.
Once you’ve submitted the order the smart routing system takes over and matches you with an appropriate offer. As soon as the trade is complete, you’ll see the investment in your account balance, which also means that Voyager is faster than many brokers.
One of the differences between Voyager and many other brokers is that you’re able to accrue interest on your account through Voyager. The interest rates do change, so you shouldn’t count on a set rate, and you’ll only accrue interest if you keep at least the minimum balance for interest in your account.
However, interest payments give you a little more money for trading, which can compound your earnings quickly if you know what you’re doing.
Since the interest goes directly into your account every month it’s fairly easy to track the account.
Profits and Losses Calculator
Another helpful tool Voyager provides is a profits and losses calculator that makes it a lot easier to keep track of your investments and your investment success rate. This tool is good for everyone since it means you don’t have to do the calculations by hand, but it’s particularly effective for beginners and helps them learn which investments are most effective.
Is Voyager Beginner-Friendly?
A new crypto trader needs to find a broker that’s beginner-friendly not just because of the lower barrier to entry and lower cost of trading. It’s also important to look for a trading broker that’s easy to use, offers good support systems, and doesn’t make things unnecessarily confusing.
Thankfully Voyager does fairly well in several of those regards, including providing a simple but effective education system. Voyager isn’t a broker that’s going to hold your hands through trading, but the app doesn’t leave you to sink or swim on your own either.
What Crypto Education Does Voyager Offer?
Education is an important part of any broker. Even established market brokers that don’t work with relatively new technology and trading option like crypto need to provide education to help traders stay on top of the latest trends and changes in the market.
Education is one area where Voyager is a little lighter than some options, but they provide enough information for motivated traders to learn what they need and stay on top of the changes in the market. There are two primary ways Voyager helps traders stay on top of current events and learn:
Node By Voyager
Node By Voyager is the name of a blog run by Voyager designed to help traders learn about strategy, market conditions, and get other relevant information to make using the broker easier. These articles are designed for beginners and are usually relatively short, highly digestible snippets of information.
You won’t learn a ton reading just one or two articles at a time, but reading a few articles every day will help you learn the basics quickly.
An accurate newsfeed is one of the most important services any crypto broker can provide, and Voyager does a good job here. The newsfeed is accurate up to the minute and taps into the feeds from several different currencies to give you a better idea of what the market is doing and any relevant market disruptions.
Voyager’s newsfeed isn’t unique or particularly better than the newsfeed from other brokers, but it works well and is reliable.
Cryptocurrency Offerings Through Voyager
Here’s a quick list of some of the cryptocurrencies currently available on Voyager:
- Bitcoin (BTC)
- Cardano (ADA)
- Algorand (ALGO)
- Cosmos (ATOM)
- Avalanche (AVAX)
- Band Protocol (BAND)
- Basic Attention Token (BAT)
- Bitcoin Cash (BCH)
- Bitcoin Satoshi’s Vision (BSV)
- BitTorrent (BTT)
- Celo (CELO)
- Nervos Network (CKB)
- Compound (COMP)
- Dai (DAI)
- Dash (DASH)
- DigiByte (DGB)
- Dogecoin (DOGE)
- Polkadot (DOT)
- Elrond (EGLD)
- Enjin (ENJ)
- Eosio (EOS)
- Ethereum Classic (ETC)
- Ethereum (ETH)
- Filecoin (FIL)
- Golem (GLM)
- Hedera Hashgraph (HBAR)
- ICON (ICX)
- IOTA (IOT)
- Kyber Network (KNC)
- ChainLink (LINK)
- Litecoin (LTC)
- Terra Luna (LUNA)
- Decentraland (MANA)
- Maker (MKR)
- Neo (NEO)
- Ocean Protocol (OCEAN)
- OMG Network (OMG)
- Ontology (ONT)
- Orchid (OXT)
- Qtum (QTUM)
- Serum (SRM)
- StormX (STMX)
- TRON (TRX)
- TrueUSD (TUSD)
- UMA (UMA)
- Uniswap (UNI)
- USD Coin (USDC)
- Tether (USDT)
- VeChain (VET)
- Voyager Token (VGX)
- Stellar Lumens (XLM)
- Monero (XMR)
- Tezos (XTZ)
- Verge (XVG)
- Yearn.finance (YFI)
- Zcash (ZEC)
- 0x (ZRX)
Voyager App Performance And Ease Of Use
Since Voyager is 100% mobile the app’s design is more important than most crypto brokers. Thankfully, Voyager has a good UI overall and is relatively intuitive for users. The option to view charts and other information both vertically and horizontally makes it easier to digest information and get what you need easily.
Orders and accounts are easy to see and track, and Voyager doesn’t hide information behind difficult menu options or a complicated navigation track.
2-factor authentication also helps keep your account safe, giving you additional peace of mind.
Overall Voyager Review
Overall, Voyager is a solid app in the cryptocurrency trading world and a good option. However, it’s mostly designed for people who have at least some trading experience and isn’t meant to help new traders master the skill. Instead, it’s designed to optimize the trading process for people who know what they’re doing and make it easier to make a profit at the same time.
If you match that description, it’s worth giving Voyager a try. But if you’re a beginner, or a seasoned trader looking for more advanced tools and options, Voyager might not be the right fit.
John S. Logan has been working with cryptocurrency for nearly as long as it has been available on the market. With a professional background in the finance industry, he believes that blockchain technology, cryptocurrency, and decentralized finance play an important role in the future of the world.