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For crypto withdrawals, once they are approved based on AML procedures, on average, it takes from 30 minutes to several hours for a transaction to be confirmed due to the blockchain. Altcoins Stablecoins Voyager and CoinLedger bring free tax tools to Voyager customers for the 2022 tax year. Some withdrawal fees can be anywhere from $10-$15USD (full list here). The app is also ideal for institutions in need of order execution and custodial crypto services. I am just wondering when I finally do sell my VGX(in a long time after the moon landing) for cash will I be charged to take it out of the app into my Chase bank account ? Voyager is made for people to easily buy and sell crypto and to keep it safely in voyager for interest. The team also maintains ablog with news and reports. The amount of taxable gain or deductible loss is the value you receive minus your tax basis in what you've given up. There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees. And interest is paid out weekly, a clear advantage over competitors who do it monthly. You can do so by finding "Account" in the Voyager app, selecting "Transfer Cash or Crypto," and navigating to "Transfer Crypto" and tapping "Send Crypto out of Voyager." Voyager doesn't charge a fee for using ACH transfer for cash. 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. However, if youre buying VGX to get into the Voyager loyalty program, automatic staking is an extra perk. out This can be pretty steep for some of the coins. It also provides an easy-to-use interface that allows users to view their accounts in real time as well as make transfers between different currencies using its own stablecoin called CELIOS. This fee is determined by the blockchain network fees and may vary depending on network usage. Comparison of cryptocurrency withdrawal fees, in nominal and fiat value. It's about the same to withdraw STMX, which I know is because of gas fees, but still. Voyager offers an excellent mobile app and is a mobile-only exchange at the moment with plans to launch a desktop trading platform in the future, but even so offers 80+ coins and shines in its competitive rewards and interest-earning program with rates as high as 12% for many crypto assets, without the need for lockups or opt-ins, unlike most other exchanges. Withdrawal fees on Voyager vary depending on the cryptocurrency you want to withdraw. Limit orders will have fees rolled in so you cant actually see your Limit sell ask price. Voyager is tailored to all traders, in particular beginners. Voyager charges no fees on trading commissions, but instead marks up the spread (bid/ask prices) by a very small amount for executing orders. You should not use voyager if you're planning on using it as a conduit to transfer to cold storage. Use voyager to buy your BTC! no fees+ withdraw within a day or so! - reddit You'll have to select both the asset and the amount you'd like to withdraw to your crypto wallet. Its listed on the Canadian Stock Exchange, under the ticker symbol VYGVF. If you dont get this email, you should get in contact with customer support. Interestingly, Voyager states that they are commission-free but in the small print they say additional fees may apply. Your order will automatically be rejected if you try to put in a trade worth less than $10. That's like paying $30 to $35 to take money out of an ATM. BingX Review Is BingX.com Copy Trading Any Good? Voyager manually approves all withdrawals as part of the AML process, so all withdrawals may take up to 24 hours. But if you expect to make frequent withdrawals, you may want to look for a platform that has a static withdrawal fee structure (or one that doesn't charge withdrawal fees at all like Celsius). If you're an institutional investor with crypto needs, Voyager offers a suite of options. This is a better way to spend your crypto then selling it. Whenever I connect to my bank account, I have an extra checking account that I only use for suspicious platforms. Voyager has expanded since launch to most US states and soon plans to launch to Europe. If Voyager beats the quote price, it takes a portion of those savings and passes some savings onto you.Unfortunately, Voyager doesnt state how much it takes. Meanwhile Celsius has awful trading fees as its not what the company specializes in. . If you dont see a cryptocurrency listed in the table, try the full list on the website. 7 . Market makers enjoy reduced fees however at Kraken. For example, the earnings reward boost pays you an annual reward percent boost on various cryptocurrency assets Voyager supports. However withdrawal fees could be better and are quite standard, coming in at $5-10. An advantage for high volume traders will be the volume-tiered fees at Coinbase, which decrease most rapidly over $20M in 30-day trading volume. You can fund your Voyager account with either cryptocurrency or a bank ACH transfer. I am obviously incentivized with a $25 bonus when you sign up, using my referral link, but youll end up losing A LOT of money in fees in the long run. Its the only way to get the Voyager $25 sign-up bonus. Voyager vs Coinbase: Fees, Features & Security Compared However, if users desire a clear fee schedule, Binance is better, since Voyager charges fees on the spread that are not clearly defined. Because Voyager is regulated in the United States, it has certain perks in terms of security. Click here to see the list of withdrawal fees for cryptos. Voyager Network Fees on Withdrawals : r/CryptoCurrency - reddit Both Voyager and Celsius have their native tokens, which can be seen as investments. One compelling Voyager feature is its cryptocurrency rewards. I wouldnt say that Voyager is a scam, but I would say their business practice is not in the best interest of their customers. The exception is those living in New York. Reddit and its partners use cookies and similar technologies to provide you with a better experience. After setting a Limit Sell order as the lowest ask price, the Voyager app does not show my order! When you do a bank transfer with Voyager, they connect to your bank account using Plaid. If an order does not execute, there is no fee charged until it does execute at a later point in the case of a resting order, or it can be canceled. Traders looking solely for the most advanced trading options such as high leverage margin and futures products specific to crypto only will prefer Binance, as it offers many USDT futures pairs not found anywhere else besides potentially OKX or FTX. These fees depend on the coin but can range anywhere from 1% to 3%. Voyager and Kraken also offer several similar features. There isn't a gain or loss on selling usdc, so I don't think there's any tax issue to worry about. Voyager raised over $100 million under private funding. {"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}, __CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"f3080":{"name":"Main Accent","parent":-1},"f2bba":{"name":"Main Light 10","parent":"f3080"},"trewq":{"name":"Main Light 30","parent":"f3080"},"poiuy":{"name":"Main Light 80","parent":"f3080"},"f83d7":{"name":"Main Light 80","parent":"f3080"},"frty6":{"name":"Main Light 45","parent":"f3080"},"flktr":{"name":"Main Light 80","parent":"f3080"}},"gradients":[]},"palettes":[{"name":"Default","value":{"colors":{"f3080":{"val":"rgb(42, 41, 60)"},"f2bba":{"val":"rgba(42, 41, 61, 0.5)","hsl_parent_dependency":{"h":243,"l":0.2,"s":0.19}},"trewq":{"val":"rgba(42, 41, 61, 0.7)","hsl_parent_dependency":{"h":243,"l":0.2,"s":0.19}},"poiuy":{"val":"rgba(42, 41, 61, 0.35)","hsl_parent_dependency":{"h":243,"l":0.2,"s":0.19}},"f83d7":{"val":"rgba(42, 41, 61, 0.4)","hsl_parent_dependency":{"h":243,"l":0.2,"s":0.19}},"frty6":{"val":"rgba(42, 41, 61, 0.2)","hsl_parent_dependency":{"h":243,"l":0.2,"s":0.19}},"flktr":{"val":"rgba(42, 41, 61, 0.8)","hsl_parent_dependency":{"h":243,"l":0.2,"s":0.19}}},"gradients":[]},"original":{"colors":{"f3080":{"val":"rgb(23, 23, 22)","hsl":{"h":60,"s":0.02,"l":0.09}},"f2bba":{"val":"rgba(23, 23, 22, 0.5)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.5}},"trewq":{"val":"rgba(23, 23, 22, 0.7)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.7}},"poiuy":{"val":"rgba(23, 23, 22, 0.35)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.35}},"f83d7":{"val":"rgba(23, 23, 22, 0.4)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.4}},"frty6":{"val":"rgba(23, 23, 22, 0.2)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.2}},"flktr":{"val":"rgba(23, 23, 22, 0.8)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.8}}},"gradients":[]}}]}__CONFIG_colors_palette__. Thats very high! 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. But other than that Celsius is fee-free and withdrawals are unlimited. It does beat many exchanges, but platforms like Crypto.com and Celsius pay up to approximately 14.5% APY and 17% APY respectively. KYC is required. Withdrawals: There are minor minimum withdrawal limits, but no maximum ones. No way around it. What Is Uniswap And How Do Decentralized Exchanges Work? Voyager is also a FinCen registered Money Service Business now traded on US OTC markets under VYGVF. Using Voyager can be done by going to investvoyager.com, clicking the respective link to either the Apple App Store or the Google Play store to download the app, creating an account on the platform, first undergoing KYC verification procedures, waiting for verification to complete, and then depositing any trading funds into the account (either crypto assets or fiat via connecting ones bank account) and then getting access to the market offerings and begin trading. For example, previous withdrawal fees have included 0.0005 BTC and 35 USDC. Voyager follows KYC requirements. All products and services are presented without warranty. He has experience helping financial companies before, working with Honos Financials. Voyager calls their withdrawal fees "small". Beginners, buy-and-hold investors, and low volume traders may prefer the easy to use features and functionality of Voyager and Coinbase with their brand presence, US regulatory approval (both are publicly traded companies, being the only crypto companies to achieve this as of 2022), and cryptocurrency education. I remember a few years back $20 USDT was a pretty common withdraw fee across the board. For US users who desire access to a high quality exchange that is also a publicly trading company, Voyager makes a great choice if users are willing to forego some features such as advanced charting or futures trading. 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). Voyager Frequently asked questions (FAQ), Fee-only vs. commission financial advisor, See a complete list of Voyager's supported coins and crypto assets here, Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services , American Express High Yield Savings Account. A couple taps and you just have to wait for the order to complete. On Voyager you'll earn 5.75% APY on your BTC, but you have to maintain a minimum balance of 0.01 BTC to qualify to earn any interest. Crypto Lender Celsius Opens Up Withdrawals for Certain Custody Accounts Celsius vs Voyager Interest Rates, Fees, Payouts, Savings. Though the crypto app offers both market news roundups and several explainer blog posts on different crypto topics, it doesn't provide much else for newcomers. Press J to jump to the feed. While Celsius excels at being a lending platform, providing users with the higher yield. What Is Cryptocurrency And How To Invest? This should happen automatically. I know there are gas fees bc its an erc20 token but not that much. And for outgoing wires, there's a minimum withdrawal amount of $10,000 and a fee of $50. Voyager Review : Is it Safe or Legit? 2023 - CoinCodeCap Coinbase Pro has fees at 0.5% which is high, but makes up for it with the lower withdrawal fees. Also can get the interest elsewhere. Bottom Line. What Is The Sandbox And How Can You Play? Crypto deposits, debit card, bank transfer, Debit card, credit card, bank wire, external crypto transfer, Bitcoin, Ethereum, Link, and several others, Bitcoin, Ethereum, Litecoin, and around 60 others. Free deposits and various withdrawal fees. BlockFi has over 225,000 users and $15 billion assets under management. Withdrawing 0.002585 yields an "industry standard" fee of 0.000500. In other words, Voyager makes money when it saves you money on an order by executing it at a better price. Moving you crypto of any kind will result in gas and minor fees. Kraken offers a much larger variety of cryptocurrencies and pairs (over 90 coins, over 400 pairs), so users who value a large selection and advanced traders who seek margin will prefer Kraken by far. Unfortunately with Voyager if theres an issue with your money, youll have to jump through hoops to talk to someone that might help. Individual 401(k) & Individual Roth 401(k) plans. My job with Captainaltcoin is the content editor and content writer position. Our opinions are our own. Both have unique and different use cases and should be considered based on fundamentals. Thanks yall. When there is a problem, they respond promptly, trying to be as transparent as possible. Better Business Bureau ratings usually range from A+ to F, but the BBB has given Voyager an F for multiple reasons: (1) the platform failed to respond to 157 complaints, (2) it received 185 complaints, (3) it's received multiple government actions, and (4) it never resolved two complaints that customers filed against it. He's contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. Learn more about the difference between PoS and PoW.Jargon aside, the takeaway is that staking lets you earn passive income with your cryptocurrency. This is different from most exchanges that prioritize desktop support. Editorial Disclaimer: Opinions expressed here are authors alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities. Our opinions are always our own. Specifically, Voyager says it takes a small spread. Dogecoin (DOGE): Withdrawal Fees Compared (2023) | WithdrawalFees.com No, Voyager is a mobile cryptocurrency trading exchange and app that also offers a custodial wallet solution with interest-earning features as part of its services, but is not a non-custodial standalone wallet. Whats the deal? See a complete list of Voyager's supported coins and crypto assets here.