Both exchanges offer a close number of coins and similar trade experiences, but they have slight differences which set them apart. Coinbase is available only in the United States. Those from other countries will have to use Voyager until then.
Background
Voyager
Voyager is a platform created by Wall Street and Silicon Valley entrepreneurs to provide a secure, flexible and transparent trading environment for cryptocurrency . Voyager is different from Coinbase because unlike traditional exchanges they connect users with over a dozen other exchanges in order to provide the best liquidity and prices .
Coinbase
In 2012, Coinbase was founded. Over the years it has expanded its user base from around 56,000,000 to over 65,000,000. They traded an average of $335,000,000,000 worth of volume every quarter [3]. It is a user-friendly platform that attracts many newcomers. Many of them make their first steps in crypto on this exchange.
Experience in Trading
Voyager
Voyager is a simple app to use. It is very easy to navigate and everything is in its place. It is simple to read and access the portfolio, which makes it easy to track investments and their profits. Voyager’s app makes use of “Smart Order Routing”, which is a system connected to different exchanges that allows for the most efficient trades [2].
Voyager is compatible with IOS as well as Android.
Recent reviews on the app store have been critical of bank transfers and errors with crypto deposits.
Coinbase
Coinbase caters to beginners, preparing them for trading in crypto through spot trading. Coinbase users are able to buy, exchange, store, and hold crypto through the Coinbase wallets. This process is made easier by a user-friendly interface that helps users to navigate easily, see their portfolios, track favorite coins and much more.
Coinbase is accessible through the website or its IOS, Android applications.
Coins and Contracts
Voyager
Coins supported: Currently, Voyager supports 57 different coins, such as Bitcoin, Ethereum Litecoin Doge Algorand Cardano, and many more.
Contracts available: Users can currently only purchase spots. This means that they are only able to buy, sell and hold the coins on their account.
Coinbase
Coins available: Coinbase currently supports 62 different coins including Bitcoin, Bitcoin cash, Ethereum, Litecoin and many others.
Contracts available: Coinbase also offers contracts that are spot contracts, which means users can purchase, sell and hold the supported crypto currencies.
Voyager fees vs Coinbase
Voyager
Voyager prides itself with its “100% Commission-Free” trades. One of their main profit models is centered around their dynamic smart order routing system that takes advantage of price disparities between different markets; when this happens, the user saves money, and Voyager takes a fraction from that saved amount as profit. [2]
Blockchain fees can still be charged.
Coinbase
The trading fees on Coinbase are as follows [6] :
There is a 0.50% fee for buying and selling cryptocurrency, with flat fees ranging from $0.99 up to $2.99, depending on transaction amounts. Spread margins of up to 2% for cryptocurrency conversions and commissions as high as 25% on stake
The fees charged may differ by region and be subject to certain conditions.
Withdrawals & Deposits
Voyager
Deposits: Fiat deposits are made via bank transfer (ACH), at a minimum of $10, a maximum of $5,000 a day, and an instant deposit option of up to $10,000 [7] . Alternatively, users can deposit using wire, in which case a $50 fee incurs [8] . For crypto deposits, users can currently deposit only 11 coins and tokens including BTC , ETH and VGX [2] .
Fiat withdrawals: Fiat withdraws can only be made up to $25,000. Withdrawals themselves cannot exceed 20 per day . There is an option for wire withdrawals, which require a minimum of $10,000 and a $50 fee. The same coins and tokens can be withdrawn as they are able to deposit[2]; up to $25,000 per day[10], but with fees varying from one crypto to another[11].
Coinbase
Deposits: There are no deposit limits for crypto or fiat, and while Coinbase does not charge any fees on incoming crypto, there are certain fees for fiat deposits that are based on location and payment methods, details for which can be found here .
Withdrawals are Minor withdrawal limits apply, but there is no maximum limit. The 1% fee is charged if you withdraw the cryptocurrency in fiat. Standard transaction fees are also applied for withdrawals of crypto, which vary depending on blockchain fees.
Security and Trustworthiness
Voyager
Voyager is a public company, meaning they are publicly traded, licensed and regulated. With honesty and transparency being their top priorities, they are audited to ensure all of their assets are accounted for within their systems.
Voyager does not provide any specifics about their security, but they do mention cutting-edge technologies that help prevent fraud and hackers . The combination of cold and hot storages is similar to the system used by most exchanges. The user data is encrypted with the latest features and stored in a secure environment.
As is standard for exchanges, Voyager also uses two-factor authentication to protect important actions like logging in or withdrawing.
Coinbase
Coinbase is one of the largest exchanges on the planet, so it has to be trustworthy and have high security standards to keep its place. It does well in this regard. Coinbase’s fees are transparent, and because it is beginner-friendly, you don’t have to worry about them.
98% of the customer’s funds and sensitive data are kept offline. They are also encrypted, backed up and placed in vaults all over the world. SQL injection filters are used to protect against CSRF. The site runs over SSL encryption. The employees of Coinbase must pass background checks, use strong passwords, and lock their screens to avoid any damage.
Accounts are secured with two-factor authentication and require strong passwords. To prevent and detect suspicious activity, certain actions are monitored and limited.
Funds for Insurance
Voyager
All funds are held by their banking partner and are FDIC ensured at $250,000 per individual.
Coinbase
Likewise, customer funds are FDIC ensured at $250,000 per individual.
KYC Conditions
Voyager
Voyager requires KYC documents to allow users to trade, and those requirements are:
- Email Address
- Name
- Mobile phone number
- Address
- Date of Birth
- Number of Social Security
It is important to note that users will sometimes be requested for other documents, including but not limited .
- Take a selfie while holding an official ID such as a passport, driver’s license or government issued ID.
- Proving your social security number
- Evidence of address
Coinbase
Coinbase also requires users verify their accounts with KYC, and they’ll request the following:
- Name
- Date of Birth
- Address
- Number of identification or social security number
- Sources of Funds
- Information on income/employment (only US)
- Explaining activity in the US
- Documents of identification such as a passport, ID card or a driver’s license (US Only)
- Live selfie is only available in the US
Residents outside of the US might be required to provide different documentation.
Is it available in the US?
Voyager
Yes, Voyager is available in all US states except New York, which is in the process of happening. In fact, Voyager is currently only available in the US, but is planning on expanding internationally later this year.
Coinbase
Coinbase is available in the US as well as in dozens of countries around the world.
Features
Voyager
Voyager is perhaps best known for its low fees; comparing different exchanges to offer users the best prices, paired with 0% commission fees result in a very desirable platform for those who care about minimizing costs.
Coinbase
One of Coinbase’s most beloved features is the Earn Crypto section where users can earn free crypto just by learning about various cryptocurrencies. At the time of writing for example, users can earn a total of $25 in various coins and tokens.
Native Tokens and their Benefits
Voyager
Voyager Tokens (VGX) are the native tokens of Voyager. They currently offer a 3% APY when they’re held within the Voyager App. Some exclusive features will be added in the future, such as cashback rewards. However, as of now it offers minimal benefits.
and VGX are available for purchase directly through the application.
Coinbase
Coinbase currently does not have any native tokens.
Education and support for customers
Voyager
As far as education goes, Voyager has the Node Blog where it mostly covers topics and updates surrounding the platform, but also on important news and events in the crypto world.
The FAQ contains articles which answer commonly asked questions. Users can use this page to search for the information they need.
In the event that all other options fail, customers can contact customer service by clicking here. In recent reviews, both IOS as well as Android users have been disappointed with the response time of customer service. Some even claim they did not receive a reply.
Coinbase
Coinbase Learn is an educational platform that features beginner guides on everything crypto related, covering topics from the basics to recent events and trends. These articles are very resourceful for newcomers who wish to learn more about cryptocurrency.
For personal help, users can reach them by clicking here. Coinbase does not respond immediately, particularly during volatile market times.
