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Voyager vs. Coinbase: The biggest differences
Voyager and Coinbase both offer extensive cryptocurrency selections, interest rewards, and support for all types of clients. However, the crypto platforms diverge in certain areas.
Voyager is best for mobile-forward crypto traders who want access to a simple user interface, low fees, and multiple account funding options. While it doesn't offer as many features and products as Coinbase, it's arguably better for staking since it allows you to earn up to 12% interest (Coinbase only allows up to 5%).
Coinbase, on the other hand, offers a wider range of products and services for individuals and institutional traders. These include crypto-backed loans, wallet services, educational resources and crypto rewards, card services, and more. This exchange is a better option for beginners.
Voyager and Coinbase's account features and fees also vary. Keep reading to see how the investment platforms compare.
Voyager vs Coinbase: accounts and fees
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Voyager |
 Coinbase |
|
Account types Personal/individual accounts |
Account types Personal investment and institutional accounts |
|
Investment choices Cryptocurrencies |
Investment choices Cryptocurrencies |
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Account perks
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Account perks
|
|
Human advisors available? No |
Human advisors/experts available? No |
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Robo-advice? No |
Robo-advice? No |
Voyager pros and cons
Voyager is a mobile crypto broker that was founded in 2017. It offers low-cost trading services for individuals and institutions in both the U.S. (excluding New York residents) and multiple US territories. And as for its investment selection, it currently provides more than 1o0 cryptocurrencies.
However, it's important to note that Voyager isn't a crypto exchange; it's a mobile broker that uses a routing technology to connect its clients to exchanges that offer the cryptocurrencies they're in search of. This means that Voyager ultimately decides where to execute your trades.
Individuals can trade dozens of cryptocurrencies without paying fees (although Voyager takes a "spread fee" when it executes an order at a better price than you submitted). Plus, the Voyager Interest Program allows you to earn up to 12% interest simply by holding a minimum monthly balance of certain crypto assets. This is much higher than Coinbase's rewards (it currently allows you to earn up to 5% in interest).
The rewards vary by month, but you can keep up with the minimum balance requirements and monthly rewards here.
And when it comes to institutional clients, Voyager offers three options: an execution platform, liquidity network, and custodial suite. The execution platform aims to offer institutional clients the best prices, while the liquidity network offers access to crypto exchanges, liquidity providers, and over-the-counter (OTC) desks. The custodial suite provides storage and security services for crypto balances.
Voyager is also introducing a debit card that allows you to earn 9% in crypto rewards, while spending USD Coin (USDC) on eligible items (USDC is a stablecoin that is backed by US dollars; this means that you can redeem $1 for each USD coin you own). You can sign up for early access here.
The Voyager mobile app is available on iOS and Android devices.
Read Personal Finance Insider's complete review of Voyager here »
Coinbase pros and cons
Founded just three years after the creation of bitcoin in 2009, Coinbase is a global cryptocurrency exchange serving individual and institutional traders in more than 100 countries across the globe. The platform also supports more than 100 cryptocurrencies, including bitcoin, ethereum, litecoin, dogecoin, and others.
If you're an individual trader, you'll have a vast suite of products to choose from. Among these are staking rewards, crypto-backed loans that allow you to borrow cash while using bitcoin as collateral, Coinbase Earn (an educational program that pays you in crypto for learning about different virtual assets), Coinbase Card, and digital wallet services.
Plus, Coinbase offers two different account types for individuals: the Coinbase standard account and Coinbase Pro. While those with the standard account can utilize all of the previously mentioned products, Coinbase Pro users can additionally take advantage of trading APIs and charting tools, real-time market data and order books, and FDIC insurance protection of up to $250,000 on USD balances.
As for its institutional services, Coinbase offers a Coinbase Prime institutional trading platform, offline storage services for crypto assets, commerce services, ventures fundraising services for crypto startups, and much more. See more on its institutional offerings here.
Coinbase has also announced that it's launching an NFT marketplace this year. You can sign up for the waitlist for early access here.
Coinbase is available on iOS and Android mobile devices.