Voyager vs. Binance (Comparison)

Voyager could be said to be the toned down exchange compared to Binance. It offers all the features you would expect from an all-American company.

The two companies were launched about the same time; however, Binance has amassed a more global audience and features a higher trading volume making it the most tried and tested crypto exchange at the moment.

If you are trying to make a choice between the both exchanges, please read this post till the end and we will make sure to help you with the best comparison to help you make a choice. it is important to first compare the features on each platform to come up with an informed view of which platform is best.

Voyager Overview

Voyager is a crypto brokerage app preferred for its straightforward investing and crypto trading platform and it offers over 30 assets supported on its platform.

It’s investment app is available both on iOS and Android operating systems and offers users the ability to invest on the go and earn up to 9% APY on their crypto holdings. Voyager was founded in 2017 by Stephen Ehrlich, Philip Eytan, Gaspard de Dreuzy, and Oscar Salazar and it is also building out its services beyond crypto trading to facilitate payment capabilities using digital assets.

It has a commission free trading service with top security features such as advanced fraud protection, FDIC (Federal Deposit Insurance Corporation) insurance of up to $250,000 on user’s deposits. Plus, Voyager also holds a stamp of approval from regulators and auditors. The downside is that Voyager only allows users to trade fiat for crypto, and there are no coin-to-coin trades or market pairs supported on the platform.

More about Voyagers

  • Mobile-only platform that offers lending, earning and an exchange
  • Earn up to 10% on stable coins or 7.25% on Bitcoin
  • Publicly-traded company under the ticker VGX in Canada
  • Proprietary VGX tokens offer higher interest rates

Pros

  • Over 50 listed cryptocurrencies
  • Up to 9% APY on crypto holdings
  • Features a regulated and audited platform and USD deposits are FDIC insured
  • Offers a brokerage model with access to multiple exchanges

Cons

  • Voyager is technically a broker, not an exchange, so it does not offer coin-to-coin trades
  • There is no desktop trading app
  • Deposits are capped at $5000

Binance Overview

Binance has also been in the game since 2017 similar to Voyagers and has become massively popular since its emergence and amassing a whooping daily trading volume of over $20 billion.

Founded by Changpeng Zhao, Binance has its headquarters in George Town, Cayman Islands, and boasts of over 13 million active users. As a top crypto exchange, Binance supports the trading of over 350 cryptocurrencies; however, its U.S platform is much more restricted with support for only 50 cryptocurrencies.

Binance offers a variety of crypto trading tools including a spot trading market, a derivatives market, and also a margin trading market. There is also a Binance mobile app available that comes with all the features you get from its desktop application, such as a trading chart, a futures trading market, and even an NFT marketplace.

More about Binance

  • Easy sign-up process
  • Lowest transaction fees of any major exchange
  • 175+ different digital assets available
  • Free deposits

Pros

  • Supports more than 300 cryptocurrencies
  • Well established with high levels of liquidity
  • Secure hot wallets with two-factor authentication
  • Features a derivatives crypto trading platform

Cons

  • Not ideal for holding huge amounts of funds
  • Customers complaints about site crash at peak traffic
  • Its user interface can be intimidating to beginners

Comparison

Beginner Friendliness

Voyager has a beginner friendly mobile based application that is good for starters. The interface to its mobile application comes with a variety of useful tools that allow users to automate their trades which can be great for dollar-cost averaging.

It is also easy to send funds from one wallet to another using the Voyager app and is also straightforward with portfolio management tools and an interactive chart that is quite intuitive.

Although Binance also comes with an intuitive user interface both on its desktop and mobile application, Binance caters more towards the needs of sophisticated users with a focus on offering tools for expert traders such as margin trading, a launchpad, and also an NFT marketplace.

Binance does not really have a beginner friendly user interface and it could be intimidating to new users.

Trust & Security

Voyager and Binance are reputable and secure crypto exchanges. Voyager offers advanced fraud protection with FDIC insurance for users up to $250,000. Furthermore, Voyager mentions on their website that their platform features advanced fraud protection mechanisms that keep hackers at bay.

Binance also takes security just as seriously with the usual two-factor authentication implemented on its platform upon account registration for each user. While there is no insurance on crypto funds held by the company’s hot wallets, Binance offers to whitelist frequently used devices and wallets and also offers protection against phishing attacks.

Fees

Voyager offers a commission-free crypto trading experience where traders pay no more than the quoted spot price of the digital assets they buy. Traders also receive nothing less than the quoted market price when they sell their digital assets on the exchange.

Voyager can do this thanks to a unique Smart Order Routing system that leverages the discrepancies between listed prices across multiple exchanges to find the best price for each trade. By extending the savings to its users, Voyager keeps a small percentage of the difference at zero expense to its users. Simply put, Voyager is designed with a business model that is only profitable as long as its users are making profits as well.

Binance also offers competitively lower fees; however, when compared to Voyager, it is clear who takes the win. On Binance, traders will be charged a maker and a taker fee of 0.1%; however, they can enjoy a 25% discount if they pay their fees with the Binance Coin (BNB).

Sign-Up Process

The sign-up process on Voyager is pretty straightforward as all that is needed is for the trader to follow the screen prompts and complete KYC (Know Your Customer) and AML (Anti Money Laundering) processes. This requires the submission of identification documents upon which an account is opened.

Binance also features a straightforward process; however, for users to access higher withdrawal limits on Binance, they will have to complete further identity verification steps. At higher levels, Binance’s verification processes are performed manually by the Binance team and can take a few days to complete.

Available Cryptocurrencies

From the both, Binance offers the most diverse collection of supported cryptocurrencies. Binance lists over 300 assets which includes all the top cryptocurrencies including:

Voyager’s list of supported cryptocurrencies is much smaller as there are just over 30 cryptocurrencies supported on the Voyager mobile app. These include but are not limited to the following:

Their standout features

While Voyager stands out for its zero fees on all trades, Binance is loved for its variety in terms of supported tokens and a variety of trading tools and markets to choose from.

Apart from being an affordable platform, Voyager also boasts of tight security with the backing of FDIC-insured deposits, which is a plus for its US-based customers.

Binance also offers competitive fees but can seem expensive, especially when compared to Voyager’s commission-free trades. What makes Binance stand out apart from the variety of assets to trade is the company’s move into DeFi with an NFT marketplace as well as a proprietary smart contract enabled blockchain called Binance Smart Chain. Binance also comes with a variety of markets to trade, including derivatives and margin trading markets, among other options. You also get access to a launchpad if you are looking to invest in the latest DeFi projects launching on Binance Smart Chain.

Follow
( 0 Followers )
X

Follow

E-mail : *

Share On social Media 👇

LIKE THIS ARTICLE ?

Subscribe to receive daily updates of the latest articles delivered straight to your inbox.

Related Post



JOIN OUR NEWSLETTER

Subscribe to our Newsletter

Search

Sponsored







Sponsored



Voyager vs. Binance (Comparison)

Posted by staff on December 16, 2021

cryptocurrency Insights & Tutorials


Voyager vs. Binance (Comparison)

Voyager could be said to be the toned down exchange compared to Binance. It offers all the features you would expect from an all-American company.

The two companies were launched about the same time; however, Binance has amassed a more global audience and features a higher trading volume making it the most tried and tested crypto exchange at the moment.

If you are trying to make a choice between the both exchanges, please read this post till the end and we will make sure to help you with the best comparison to help you make a choice. it is important to first compare the features on each platform to come up with an informed view of which platform is best.

Voyager Overview

Voyager is a crypto brokerage app preferred for its straightforward investing and crypto trading platform and it offers over 30 assets supported on its platform.

It’s investment app is available both on iOS and Android operating systems and offers users the ability to invest on the go and earn up to 9% APY on their crypto holdings. Voyager was founded in 2017 by Stephen Ehrlich, Philip Eytan, Gaspard de Dreuzy, and Oscar Salazar and it is also building out its services beyond crypto trading to facilitate payment capabilities using digital assets.

It has a commission free trading service with top security features such as advanced fraud protection, FDIC (Federal Deposit Insurance Corporation) insurance of up to $250,000 on user’s deposits. Plus, Voyager also holds a stamp of approval from regulators and auditors. The downside is that Voyager only allows users to trade fiat for crypto, and there are no coin-to-coin trades or market pairs supported on the platform.

More about Voyagers

  • Mobile-only platform that offers lending, earning and an exchange
  • Earn up to 10% on stable coins or 7.25% on Bitcoin
  • Publicly-traded company under the ticker VGX in Canada
  • Proprietary VGX tokens offer higher interest rates

Pros

  • Over 50 listed cryptocurrencies
  • Up to 9% APY on crypto holdings
  • Features a regulated and audited platform and USD deposits are FDIC insured
  • Offers a brokerage model with access to multiple exchanges

Cons

  • Voyager is technically a broker, not an exchange, so it does not offer coin-to-coin trades
  • There is no desktop trading app
  • Deposits are capped at $5000

Binance Overview

Binance has also been in the game since 2017 similar to Voyagers and has become massively popular since its emergence and amassing a whooping daily trading volume of over $20 billion.

Founded by Changpeng Zhao, Binance has its headquarters in George Town, Cayman Islands, and boasts of over 13 million active users. As a top crypto exchange, Binance supports the trading of over 350 cryptocurrencies; however, its U.S platform is much more restricted with support for only 50 cryptocurrencies.

Binance offers a variety of crypto trading tools including a spot trading market, a derivatives market, and also a margin trading market. There is also a Binance mobile app available that comes with all the features you get from its desktop application, such as a trading chart, a futures trading market, and even an NFT marketplace.

More about Binance

  • Easy sign-up process
  • Lowest transaction fees of any major exchange
  • 175+ different digital assets available
  • Free deposits

Pros

  • Supports more than 300 cryptocurrencies
  • Well established with high levels of liquidity
  • Secure hot wallets with two-factor authentication
  • Features a derivatives crypto trading platform

Cons

  • Not ideal for holding huge amounts of funds
  • Customers complaints about site crash at peak traffic
  • Its user interface can be intimidating to beginners

Comparison

Beginner Friendliness

Voyager has a beginner friendly mobile based application that is good for starters. The interface to its mobile application comes with a variety of useful tools that allow users to automate their trades which can be great for dollar-cost averaging.

It is also easy to send funds from one wallet to another using the Voyager app and is also straightforward with portfolio management tools and an interactive chart that is quite intuitive.

Although Binance also comes with an intuitive user interface both on its desktop and mobile application, Binance caters more towards the needs of sophisticated users with a focus on offering tools for expert traders such as margin trading, a launchpad, and also an NFT marketplace.

Binance does not really have a beginner friendly user interface and it could be intimidating to new users.

Trust & Security

Voyager and Binance are reputable and secure crypto exchanges. Voyager offers advanced fraud protection with FDIC insurance for users up to $250,000. Furthermore, Voyager mentions on their website that their platform features advanced fraud protection mechanisms that keep hackers at bay.

Binance also takes security just as seriously with the usual two-factor authentication implemented on its platform upon account registration for each user. While there is no insurance on crypto funds held by the company’s hot wallets, Binance offers to whitelist frequently used devices and wallets and also offers protection against phishing attacks.

Fees

Voyager offers a commission-free crypto trading experience where traders pay no more than the quoted spot price of the digital assets they buy. Traders also receive nothing less than the quoted market price when they sell their digital assets on the exchange.

Voyager can do this thanks to a unique Smart Order Routing system that leverages the discrepancies between listed prices across multiple exchanges to find the best price for each trade. By extending the savings to its users, Voyager keeps a small percentage of the difference at zero expense to its users. Simply put, Voyager is designed with a business model that is only profitable as long as its users are making profits as well.

Binance also offers competitively lower fees; however, when compared to Voyager, it is clear who takes the win. On Binance, traders will be charged a maker and a taker fee of 0.1%; however, they can enjoy a 25% discount if they pay their fees with the Binance Coin (BNB).

Sign-Up Process

The sign-up process on Voyager is pretty straightforward as all that is needed is for the trader to follow the screen prompts and complete KYC (Know Your Customer) and AML (Anti Money Laundering) processes. This requires the submission of identification documents upon which an account is opened.

Binance also features a straightforward process; however, for users to access higher withdrawal limits on Binance, they will have to complete further identity verification steps. At higher levels, Binance’s verification processes are performed manually by the Binance team and can take a few days to complete.

Available Cryptocurrencies

From the both, Binance offers the most diverse collection of supported cryptocurrencies. Binance lists over 300 assets which includes all the top cryptocurrencies including:

Voyager’s list of supported cryptocurrencies is much smaller as there are just over 30 cryptocurrencies supported on the Voyager mobile app. These include but are not limited to the following:

Their standout features

While Voyager stands out for its zero fees on all trades, Binance is loved for its variety in terms of supported tokens and a variety of trading tools and markets to choose from.

Apart from being an affordable platform, Voyager also boasts of tight security with the backing of FDIC-insured deposits, which is a plus for its US-based customers.

Binance also offers competitive fees but can seem expensive, especially when compared to Voyager’s commission-free trades. What makes Binance stand out apart from the variety of assets to trade is the company’s move into DeFi with an NFT marketplace as well as a proprietary smart contract enabled blockchain called Binance Smart Chain. Binance also comes with a variety of markets to trade, including derivatives and margin trading markets, among other options. You also get access to a launchpad if you are looking to invest in the latest DeFi projects launching on Binance Smart Chain.

Follow
( 0 Followers )
X

Follow

E-mail : *

Share On social Media 👇

LIKE THIS ARTICLE ?

Subscribe to receive daily updates of the latest articles delivered straight to your inbox.