Although both are popular options for investors, Voyager and Coinbase are two very different types of cryptocurrency platforms. Each offers dozens of different cryptocurrencies and easy-to-use layouts, but that’s where the similarities end.
Voyager, available as an app, is a cryptocurrency broker that compares prices from multiple exchanges and makes purchases for you at the lowest price. Coinbase is a full-service cryptocurrency exchange that offers a web platform, mobile app, and its more advanced Coinbase Pro platform. If you’re torn between Voyager and Coinbase, read on for a complete guide to Voyager vs. Coinbase.
Fees: Voyager vs. Coinbase
Coinbase Pro, available to all Coinbase customers, costs less than Voyager for crypto trading. Between the standard Coinbase platform and Voyager, Voyager is cheaper to trade but tends to have higher withdrawal fees.
Voyager has no commissions. It does not charge cryptocurrency exchange fees, but it does charge spread fees. If it can’t beat the quoted price on order, it will take a portion of your savings. It should be noted that the price of Voyager is generally not the best among cryptocurrency applications. For example, you can often get more cryptocurrency for your money on Coinbase Pro, even after accounting for fees.
Voyager withdrawal fees can be expensive. These vary depending on the cryptocurrency you are withdrawing. For some stablecoins, Voyager charges a withdrawal fee equivalent to $35.
For the Voyager credit, it offers high-interest rates through its Voyager Earn program. This helps balance withdrawal fees and makes it a good choice if you plan to buy and hold cryptocurrencies for a long time.
Coinbase fees depend on order value, payment method, and whether you use Coinbase or Coinbase Pro. On the regular Coinbase platform, you receive the lowest fees when paying through a bank account. In this case, the transaction fees will be a fixed fee or a variable percentage depending on the value of the order.
The variable percentage rate of 1.49% typically starts with orders of $205. Small orders have the following fixed rates:
- Up to $10: $0.99
- More than $10 to $25: $1.49
- Over $25 to $50: $1.99
- Up to $205: $2.99
Coinbase Pro uses a maker-taker fee model. It charges taker fees for immediately filled orders and maker fees for unfulfilled orders. Maker fees vary based on monthly transaction volume.
Both Coinbase platforms charge network fees for withdrawals. The fee depends on the cryptocurrency and the current network congestion.
Here’s what you pay in transaction fees when you buy $1,000 worth of Bitcoin with each cryptocurrency app:
- Coinbase $14.90
- Coinbase Pro $5.00
- Voyager $0.00
Data source: Voyager and Coinbase.
However, there is an important caveat here: even after fees, you will still receive a bit more Bitcoin when you purchase using Coinbase Pro. It’s not a big difference, but because of Voyager’s distribution fees, Coinbase Pro is better. This is generally true when buying other types of cryptocurrencies, not just Bitcoin.
Crypto Available: Voyager vs. Coinbase
Voyager and Coinbase have great cryptocurrency selections that include most major currencies and a few smaller ones. Coinbase has over 90 cryptocurrencies, and Voyager has over 90.
On both platforms, you can invest in all of the following major cryptocurrencies:
Bitcoin (BTC), Cardano (ADA), Dogecoin (DOGE), Ethereum (ETH), and Solana (Sol).
Although Voyager and Coibnase offer some of the same cryptocurrencies, some fairly well-marketed currencies are only available in one of the two.
Here are the most important coins available on Voyager but not on Coinbase:
Avalanche (AVAX), IOTA (MIOTA), Monero (XMR), TRON (TRX), and VeChain (VET).
These are the largest coins available on Coinbase but not on Voyager:
Axie Infinite (AXS), Internet Computer (ICP), and Quant (QNT).
Wallets: Voyager vs. Coinbase
Voyager offers an escrow wallet, which means that Voyager holds the private keys and control of these crypto funds. Some investors prefer non-custodial wallets to have complete control over their holdings. You can withdraw cryptocurrency from Voyager to an external wallet if you prefer. Do note that you will not be able to earn interest through the Voyager Earn program after withdrawing your cryptocurrency.
Coinbase offers both options. A Coinbase account is a custodial wallet. Coinbase also offers Coinbase Wallet, a free wallet app that anyone can download, whether or not they are a Coinbase customer.
Security: Voyager vs. Coinbase
Security is a strong point for Coinbase and Voyager. Both publicly traded companies comply with US regulations, making them popular stocks in cryptocurrencies. Coinbase can be said to be more secure in general, but neither platform has that aspect.
Voyager and Coinbase have several security features in common:
- FDIC Insurance: Cash deposits are covered by FDIC insurance, the same type of insurance used by most major US financial institutions, up to $250,000 per person.
- Secure data storage and transmission: Both platforms adhere to industry-standard security protocols. This includes encrypted storage and secure transmission of personal and financial data.
- Two-Factor Authentication (2FA): Both platforms allow you to configure 2FA to require two forms of authentication, such as a password and a code sent to your mobile device when you log into your account.
Coinbase has security measures that Voyager does not. It provides whitelisting, a feature that allows you to limit withdrawals from your account to whitelisted addresses. Coinbase keeps 98% of offline customer cryptocurrencies in cold storage, the most secure storage option. You also have an insurance policy covering crypto funds that you store in hot wallets.
Although there are some differences, Voyager and Coinbase are two great options for investing in cryptocurrencies. Each offers a wide range of cryptocurrencies and intuitive platforms.
The best part of Voyager is the Voyager Earn program. You can quickly increase your cryptocurrency holdings with the interest rates they offer. However, Voyager is not the best if you want to remove cryptocurrency from your platform due to withdrawal fees. Their distribution fees can also be expensive with some cryptocurrency purchases.
Coinbase has almost everything you could want in a cryptocurrency exchange. Getting started is easy, and the exchange offers educational modules where you can earn free cryptocurrencies. Trading fees might be a bit higher than Voyager, but they are much cheaper if you use Coinbase Pro.
Haley Hayward is an experienced writer at gblogo.com, where she’s credited with more than 200 articles covering everything from entrepreneurial stories to mental health at work.
She also oversees the Comment&Questions, which poses important admission questions to experts in the field, and regularly hosts webinars on various aspects of the business school experience.
Prior to joining gblogo.com, Haley honed her skills as a freelance writer, tackling a wide array of topics from petcare to car maintenance.
Haley holds a Master’s degree in English Literature from the University of Edinburgh, Scotland.