Editor’s Note: Voyager filed for bankruptcy on July 2, 2022, citing volatility in cryptocurrency markets and a default on a large loan made to crypto hedge fund Three Arrows Capital (3AC). On May 5, 2023, Voyager announced its official shutdown and will now self-liquidate its assets.
Voyager is one of the few mobile-only crypto platforms with a massive following, and that’s for a good reason: It does its job, and it does it well.
It provides a range of coins on its exchange, allows for lower deposits than most of the other major platforms, and it even lets users gain interest in their crypto investments. However, it’s not the perfect option for everyone.
We’ll go over the various features and different aspects of Voyager to help you figure out if this is the right platform for your crypto investments.
Here’s what we’ll cover in this Voyager crypto review.
Table of Contents
Summary of Voyager Crypto Review
|Supported Crypto Assets
|60+ Crypto assets, including Bitcoin and Ethereum
|Mobile-only platform (iOS, Android)
|$10 minimum deposit required to open your account
|Commission and Fees
|$0 commissions (excluding the fee Voyager earns when it beats its quoted price)
|U.S. Only (Except New York)
Voyager Crypto Ease of Use
Voyager has a lot of unique features that might throw off seasoned investors who are used to the industry’s standard features and layout, but those features make navigating the app and making investments a lot easier for beginners and intermediate investors.
This is largely due to its Smart Order Routing. The Smart Order Routing system makes it easy for beginners to place orders efficiently and without having to worry about the tiny details that clutter up other trading systems.
However, that differentiation from the standard model also makes it somewhat difficult to switch to other platforms, and some of the UI characteristics can be confusing or hard to find for beginners and pros alike.
Fortunately, there is a lot more thought put into the overall design than what is present in other mobile-only platforms, and it shouldn’t take new users more than a few moments to start making investments.
Voyager Crypto Offerings
Voyager isn’t lacking when it comes to choices. You can choose from more than fifty cryptocurrencies to buy, sell, and trade, and that includes a massive selection of altcoins that is on par with Voyager’s PC competitors.
Here’s a complete list of Voyager’s supported coins. The platform doesn’t update its coin selection as often as some of the other industry giants, but the list is still likely to be expanded in the future.
- Terra Luna
- Band Protocol
- Basic Attention Token
- Ocean Protocol
- Bitcoin Bash
- OMG Network
- Bitcoin Satoshi’s Vision
- Nervos Network
- Voyager Token
- Ethereum Classic
- Stellar Lumens
- Hedera Hashgraph
- Kyber Network
As we said before, this list is likely to be expanded in the future, but it’s the most accurate list as of the time of this writing.
Voyager Supported Countries
This is one of Voyager’s shortcomings. It isn’t available outside of the United States and its territories.
However, the company is currently attempting to expand into the UK and Canada, and as cryptocurrency becomes more accepted globally, it will likely find an audience around the world.
For now, you can access Voyager in any state besides one, which we’ll talk about shortly, or the following territories.
- American Samoa
- Northern Mariana Islands
- Puerto Rico
- United States Virgin Islands
The only state you cannot access Voyager in is New York. This is due to the company not having the proper BitLicense required by New York state law to operate a cryptocurrency platform.
However, the company is currently attempting to receive its BitLicense and reopen access to New York residents.
How to Open a Voyager Account
Opening a Voyager account is extremely simple. In fact, it’s a lot more streamlined than most other platforms due to its mobile-only design and focus on user-friendliness.
However, it is currently experiencing some issues we’ll talk about later in this section.
Step 1 – First, you have to download the official Voyager app via the iOS Apple Store, or through your Android device’s Google Store app. This will only take a moment, and the application doesn’t require much space on your device’s memory card.
Step 2 – After the app has been downloaded and installed on your device, you simply need to open the app and tap “Sign-up” to begin the sign-up process. You’ll want to have your basic information and ID available for the next step.
Step 3 – Once you tap “Sign-up” you’ll be walked through several screens that ask for your name, preferred password, financial information, address, and yes, your identification.
Step 4 – Finally, you have to verify your identity. This is mostly a passive step, and you simply have to provide your government-issued ID card. Voyager staff members will verify that you are who you say you are, and then you’ll receive an email telling you that your account is set up. Once you receive your email, you can sign in, add funds, and start investing with ease.
One Important Point to Make
There is one caveat, though. Voyager has seen explosive growth in 2021, and that’s expected to increase as they expand into an international audience.
However, it also means that the Voyager staff is being flooded with new accounts to verify, and it may take them more than a week to verify your account.
For this reason, it’s important to start making your account right away to prevent having to wait when you want to start investing.
This isn’t Voyager’s fault, though. They don’t utilize the same automated verification methods other platforms use, and they’re required by law to verify every member’s identity to prevent cyber crimes such as money laundering or the purchase of illegal goods.
Voyager Crypto Features
Voyager has many of the same standard features found in other crypto exchanges, but it also adds its spin to some of them to streamline your experience and make it stand out on the mobile market.
Here are the features we feel make it stand out.
Node is a built-in blog ran by Voyager with beginners in mind. They frequently update the Node database with articles that can guide you through learning about the platform, trading cryptocurrency, and ways that you can use crypto that you might have never imagined.
This is a fairly unique feature for a mobile exchange, and it’s one of the reasons Voyager stands out as one of the best platforms for new investors to get started.
2. Smart Order Routing
With other platforms, you have to find the best order route to minimize your gas costs and other fees.
For beginners, this can be a very complex process, and many end up spending more than they should have just trying to place an order.
The Smart Order Routing system that Voyager uses handles your routing decisions for you. Instead of having to painstakingly compare all your options, the router finds the cheapest option and automatically takes it to save you money.
This may frustrate expert investors, though. By streamlining the process and automatically choosing the cheapest route, it takes away some of the finer levels of control experts enjoy.
3. Real-Time Newsfeed
Investing in cryptocurrency intelligently requires a lot of research. Voyager makes this easy with a built-in, real-time news feed that automatically gathers the most up-to-date crypto announcements and puts them in one spot.
This lets you scroll through articles to find information relevant to your coins, the market, and much more. You don’t even have to leave the app to access it.
4. Interest Opportunities
Most platforms don’t allow you to earn interest on your crypto. The value of your wallet increases or decreases based solely on independent coin values. With added interest, you can raise your potential ROIs just by leaving your crypto alone.
Voyager Trade Experience
Voyager’s trade experience is one of the most enjoyable experiences beginners can have. Buying, selling, and trading can be done extremely smoothly, and there aren’t any commission fees to worry about.
First, adding funds to your account is a breeze. The second your account is verified, you can add a payment method and instantly top up your account with fiat or crypto and start investing.
Placing orders can be done in under a minute, and thanks to the Smart Order Routing technology Voyager uses, you can rest assured that you’re always getting the best price possible.
Plus, you can set up scheduled orders with just a few extra tips of your finger in case you’d like to order a specific amount of the same coins every day, week, or month.
However, the ordering process lacks the control of other platforms due to the automatic route finding of the Smart Order Routing system.
Finally, Voyager is also one of the most accessible exchanges available. The minimum investment amount is a measly $10.
This makes it a great platform for small, first-time investments, investing what you have leftover from your paycheck, or other things that are impossible on other platforms with far higher deposit minimums.
This all comes together to create an above-average trading experience that only has some minor flaws.
Voyager Fees and Limits
One of the best parts of Voyager is that it doesn’t take a commission on your transactions. This is regardless of the size of your orders or the volume of your order history in general.
Considering commission fees make up a large number of any crypto investor’s expenses, the 0% commission rate is a welcome addition.
The minimum deposit limit is also attractive. At only $10, almost anyone can deposit funds and start trading regardless of their starting wealth.
As an extra incentive to use Voyager, the platform has added a $5000 daily instant transfer limit. This means that you can trade up to $5000 worth of deposited funds each day without having to wait for the funds to process.
This can be extremely worthwhile if your bank takes a while to transfer funds or if you’re just impatient in general.
However, you do still have to pay gas fees that can reach up to 20% of your investment amount. This is fairly common across the board, but it is an unsavory part of the investment process.
Is Voyager Safe and Secure?
Voyager is considered to be very safe and secure due to its high-level security features, on-app platform coin storage, and its newly-added USD insurance by the FDIC.
This doesn’t mean it’s full-proof, though. Voyager has been the victim of a cyber-attack recently.
This may cause some users to become cautious, but you’ll be happy to know that no one’s funds or personal information were affected by the attack, and Voyager was proactive in its response.
This does beg the question of whether or not Voyager’s small team can manage the much larger user base that will come from international expansion, though.
As the platform becomes larger, it might become harder to protect every user without policy and technology updates.
Luckily, Voyager does insure all stored USD funds through the FDIC. So, if the worst-case scenario comes to pass, you can rest easy knowing any USD you have stored will be protected.
Voyager does have a built-in crypto wallet that allows you to store all of your coins on the Voyager platform.
The company also allows the wallet to use cross-compatibility to function with web-based apps despite its purely mobile design. This can be useful, but most users should stick to using it for Voyager’s platform.
The wallet is entirely free, and it’s one of the easiest crypto wallets to use. It’s also how Voyager tracks the interest you build on compatible currencies.
So, it’s worth using if you’re trading coins eligible for the interest program.
Voyager does not currently have a pro version available. However, the company is currently offering a beta version for the PC, and that might provide access to more advanced features in the future.
Who is Voyager for?
Voyager is a great platform for beginner and intermediate crypto investors, but more comprehensive crypto platforms will better serve experts with fully manual investment options.
It streamlines the trade experience, provides a number of incentives beginner traders will appreciate, and even offers a number of informative resources for beginners.
Voyager is the platform we recommend the most to beginner investors who want a quick and easy way to learn about crypto on the go.
Voyager is an option to look at if you’re just looking to invest small parts of your paycheck to create a nest egg, don’t have access to a PC, or just want a streamlined experience that other platforms don’t offer.