An all-out battle is unfolding in the cryptocurrency market as competing exchanges vie for the attention of new crypto users. With the incredible incentives on offer, exchanges large and small have come to the fore in an ever-increasing sign-up offer.
But no one likes a confusing exchange with a scintillating ad campaign. With the growing number of players appearing in the space, it is becoming increasingly important to do your due diligence before entrusting your finances to a trading platform. Voyager and Gemini are secure cryptocurrency exchanges for discerning investors.
Gemini and Voyager have positioned themselves as the frontrunners and center in the crypto space and at the perfect time. As crypto users continue to push the cryptocurrency market to new heights (irrespective of the current bear market), these high-impact trading platforms far exceed their weight class, catching the attention of novice and professional traders alike.
But which exchange is right for you? And what sets them apart? Here you’ll find the answers to all your burning questions as we take on these two exchanges in one final cryptocurrency match!
But first, let’s go through some of the basics.
What is a Cryptocurrency Exchange?
Unlike financial market exchanges that primarily trade stocks, cryptocurrency exchanges exclusively trade cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). Although there are examples of hybrid exchanges, a cryptocurrency exchange is simply an online marketplace for buying, selling, and trading cryptocurrencies.
Finding the exchange that’s right for you may take a bit of research. Whether you are looking for a decentralized exchange (DEX) or a more traditional trading platform, you will surely be surprised by an incredible range of trading options, including the interest rate on loans, when choosing between them.
A not-so-small detail is that cryptocurrency markets never close, unlike their stock market counterparts. And while US traders sleep, the other half of the world begins to affect the value of their favorite cryptocurrencies.
Important Cryptocurrency Exchange Features
Probably the most important aspect of any exchange is platform security. With more common exchange hacks, advanced security features have become necessary in this space.
But security is not the only feature of the crypto market that investors need to consider. Another reason to choose a trading platform is the selection of altcoins. From Defi tokens to stablecoins, an exchange’s list of supported assets becomes increasingly large as traders diversify their portfolios, as signing up to multiple exchanges can be a real hassle.
Ultimately, the toolkit offered to a platform trader may be what attracts or turns away a potential customer. From advanced charting to booking order availability, the set of tools offered to a platform’s most experienced traders can be what differentiates a trade from its competitors.
For savvy traders, please consider important features of the exchange before opening an account. Security, selection, and trading tools on Voyager and Gemini are reviewed in the following sections.
Voyager is a leading mobile trading platform with over 60 cryptocurrencies. From a technical point of view, Voyager is a brokerage that searches around a dozen of exchanges for the best offer for your purchase of cryptocurrencies. With the company’s Smart Order Router, Voyager makes shopping for coins easier.
Voyager, a publicly-traded company, is regulated and licensed. As such, the broker is regularly audited to ensure that each asset is accounted for. Additionally, FDIC insures for up to $250,000 for users USD on the platform.
However, the best part of Voyager is the 12% APR it offers to customers with cryptocurrencies on the platform. With over 30 cryptocurrencies in play, including the company’s VGX token, the rewards for Voyager users are one of the best out there.
A great alternative to Voyager, Gemini offers a simple and elegant platform to build your cryptocurrency portfolio. With state-of-the-art security and advanced tools for active traders, the Gemini trading product line is sure to meet the needs of the most discerning consumers.
Gemini offers more than 40 cryptocurrencies in exchange. But Gemini Exchange is only one product among a list of offers that the platform offers to its users. Gemini Earn, for example, offers a 7.4% interest rate on cryptocurrencies listed on the platform, including stablecoins.
One product that differentiates Gemini from other exchanges is Gemini ActiveTrader. This is a high-performance trading platform with advanced trading features. ActiveTrader offers the charts and order types that advanced users have come to expect.
FEES: Voyager vs. Gemini
Voyager has the great particularity of being commission-free. But that doesn’t mean there won’t be fees. In general, the existing tariffs are comparable to or even lower than their competitors.
On the other hand, Gemini has a variety of fees depending on the product you are trading. Although the existence of different pricing for different products might be a bit confusing at first, Gemini has published pricing tables for each and made them transparent and easily accessible to platform users.
Security: Voyager vs. Gemini
Voyager – In addition to the inherent security of being a publicly-traded company, the FDIC assures you that USD owned on Voyager is insured up to $250,000, and for your cryptocurrency holdings, Voyager’s advanced hack protection technology actively prevents attacks.
Gemini – Gemini offers industry-leading security from day one. Gemini is a trusted company licensed in New York and is subject to regular audits, just like Voyager. Additionally, all cryptocurrencies on the platform are insured, as Gemini’s cold storage coverage attracts major insurers.
Altcoins: Voyager vs. Gemini
Security becomes more and more important as you accumulate coins on the exchange. With the impressive range of altcoins offered by Voyager and Gemini, the likelihood of owning multiple assets increases dramatically as you become familiar with the platforms.
Although both exchanges offer an excellent number of popular altcoins, the offers do not match. Here are some of the altcoins you can find on one exchange but not the other:
Altcoin on Voyager
Avalanche (AVAX), Serum (SRM), Shiba Inu (SHIB), Terra Luna (Luna), and Tron (TRX), etc.
Altcoin on Gemini
1Inch (1 inch), Cosmos (Atom), Loom (Loom), Loopring (LRC), and Sushi Exchange (SUSHI), etc.
With unique offerings, Voyager and Gemini are popular cryptocurrency trading platforms. Both offer industry-leading security for today’s complex cryptocurrency trading.
Interested in trading or staking, the differences between Voyager and Gemini are clear. While Voyager offers up to 12% APR for staking on various currencies on the platform, Gemini offers advanced charting and detailed order books desired by professional traders.
So which trade wins? Depending on your needs, both!
Gemini and Voyager have become trusted household names in a crowded field of exchanges. And no matter which one you choose, you will surely find the resources you need to achieve your aims in the cryptocurrency market.
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.