In the sphere of financial markets, the twenty-first century has seen some of the best technological breakthroughs. One such advancement is the much-discussed Cryptocurrencies.
They have taken over the entire world with their unique potential. Unlike solid and tangible financial assets, cryptocurrency is primarily concerned with its digital existence. You can’t touch or feel it, yet these digital encrypted tokens have the same value as real hard cash, sometimes even more.
Bitcoin was the first cryptocurrency to take over the world and still has the highest value in the cryptocurrency market. Various coins were introduced after that, ushering in the cryptocurrency era.
But the most important question emerges here! How do we trade this cryptocurrency if they are purely digital and cannot be touched or felt? The answer lies in the numerous digital trading platforms. They allow simple, secure, and transparent methods of transferring, purchasing, selling back, and exchanging cryptocurrencies. Various crypto coin trading platforms, such as Etoro, Binance, CoinBase, and others, have evolved, making it simple to trade cryptocurrency.
These platforms are so simple that even a novice may learn how to trade cryptocurrency. Choosing the best cryptocurrency trading platform will be difficult because there are so many.
We have thoroughly examined two top cryptocurrency trading platforms to help you for a positive trading experience. Let’s start talking about the trading choices available on Coinbase and Voyager, the two most often-used platforms for trading cryptocurrencies.
Understanding Voyager and Coinbase
Both Voyager and Coinbase are popular among cryptocurrency traders since they provide a wide range of options. Furthermore, these two cryptocurrency trading platforms offer interest benefits and support for clients.
Voyager is perfect for mobile-forward cryptocurrency traders and dates back to 2017. Those looking for a primary user interface will find Voyager precisely what they need. Voyager has a long history of working with significant enterprises and companies. When using the platform to trade cryptocurrencies, it is well known to provide minimal costs and various ways to fill the account. Voyager has grown in popularity among its users and now has about 2 million users. Voyager currently has a New York base but plans to expand to international markets.
Coinbase was created in 2012 as a cryptocurrency trading platform. After ten years, it still provides the most significant crypto trading experience compared to other trading platforms. Whether experienced or inexperienced, anyone can use this platform to try their hand at crypto trading. Moreover, Coinbase is a corporation established in the United States that was one of the first reputable exchanges. It was also the first to generate buzz about cryptocurrency in the capital market when these digital currencies were in their infancy. As a result, this platform played a crucial part in revolutionizing the introduction of cryptocurrencies into the capital market.
Using The Trading Platform Instructions: Voyager Vs. Coinbase
The trading platforms are intended to provide customers with a seamless experience in crypto trading. Let’s have a look at the way these platforms function:
The first step in using Voyager for crypto trading is to create a Voyager account. The following KYC information will be required on the signup page:
- Social Security Number
- the email account
- government-issued ID.
Depending on the eligibility requirements, your account may take some time to be approved by the Voyager application or website. The process of putting money into your Voyager account can start after approval.
Most times, Voyager makes ACH payments through the firm Plaid. Still, you also have the option to wire transfer the acceptable cryptocurrency into your Voyager account.
Like Voyager, Coinbase uses a similar process for signing up a new user. To verify your KYC information, you must provide all the information listed above. However, Coinbase has an extra feature that allows customers to deposit cryptocurrency and pay with a credit or debit card.
Additionally, they can link their PayPal account for the same function. By setting up a recurring buy option on Coinbase, you can continue to trade while using the service. Sign up for a Pro Coinbase account to access the Order Limitation feature.
Evaluating The Features: Voyager Vs. Coinbase
- Voyager offers in-app crypto trading, allowing you to buy cryptocurrencies with no commission fees.
- The Voyager accounts require users to keep a certain amount of supported cryptos in their accounts. This minimum cryptocurrency balance ensures that interest payments are made against the minimal amount.
- Users can also participate in the Loyalty program, specifically designed to benefit Voyager users. As you purchase and keep crypto tokens through this loyalty program, you will be eligible for numerous benefits, such as excellent interest rates.
- The Voyager trading platform also enables users to apply DCA (Dollar Cost Averaging) on their preferred cryptocurrency projects regularly.
- Coinbase offers an “autopilot buying schedule” option for recurrent purchases and trading. It simplifies the user’s management of crypto transactions.
- Users who desire a more frictionless experience when trading cryptocurrency might choose Coinbase Pro. This function as a premium user account and provides additional benefits compared to regular accounts. You can perform technical analysis on a sophisticated trading platform and place limit orders.
- The Coinbase platform encourages users to submit proofs of stake by giving them rewards.
- In addition, Coinbase offers an “Earn To Learn” program. After watching the tutorial videos and passing the quiz, you can receive little incentives via this innovative program. It is an excellent way to have fun while learning how to invest in cryptocurrencies.
- The Coinbase trading platform offers a Coinbase Debit Card to the user when they sign up for an account. With a 4 per cent incentive back in cryptocurrency, this debit card functions much like a Visa card.
Learning About Non-Custodial Cryptocurrency Wallets: Voyager Vs. Coinbase
You’ve probably heard the term “crypto wallet” when utilizing a cryptocurrency trading platform. Crypto wallets behave much more like genuine wallets, which aid in storing cryptocurrency while not in the trading process. It can be either a custodial or non-custodial crypto wallet, depending on the level of user autonomy. When the crypto wallets of these two platforms are compared, we see that one of the platforms offers a non-custodial wallet. Let’s learn more about these trading platforms’ crypto wallets:
Customers of The Voyager are not given the option to purchase non-custodial wallets. This indicates that Voyager has private keys and that customers utilizing its crypto wallet must trust Voyager with their digital assets.
Several experts advise transferring your cryptocurrency to a private crypto wallet so you can have more control over it. However, by selecting this option, you may forego some benefits.
In contrast to Voyager, Coinbase offers a non-custodial cryptocurrency wallet. As a result, the user gains an advantage in managing their funds and cryptocurrency balance. Furthermore, Coinbase monitors the crypto funds to ensure their safety if they are left in the exchange account. Using the Coinbase Wallet plugin, customers can use their crypto tokens on popular DeFi sites because they have better access to and control over their money. Additionally, the Coinbase wallets have a function that links the wallet with the main account, making transactions easy!
Voyager Vs Coinbase: What Kind Of Cryptocurrency Can You Exchange And Buy?
Crypto trading platforms often accept only a limited number of cryptocurrencies. However, regarding Voyager and Coinbase, both platforms are juggernauts, among other trading platforms. Many different cryptocurrencies are now available to trade on these sites, which is lovely. Among the several trading platforms, Voyager and Coinbase have the highest amount of cryptocurrencies supported, as shown below:
According to estimates, Voyager’s systems facilitate the trading of approximately 90 cryptocurrencies. This number, however, can increase over time as more and more cryptocurrency participants enter the market every day. The following is a list of some of the popular cryptocurrencies that Voyager supports:
- Bitcoin Cash
Coinbase has a significantly more extensive selection of cryptocurrency trading alternatives than Voyager. According to the count, it supports the exchange of more than 100 cryptocurrencies. The key cryptocurrencies that analysts believe are widely supported and traded on this platform include the following:
- Shiba Inu
Voyager Vs. Coinbase: What Choices Are Available For Customer Support?
Any service provider should prioritize providing excellent customer service. The success of a service provider is determined by how quickly available they are when a consumer has a problem. As a result, any service provider should have a platform for connecting with customers and fixing even minor difficulties. There are some significant disparities when comparing the customer support of the two crypto trading platforms. For more information on these differences, keep reading:
When we look at the Voyager platform and contrast it to Coinbase, it is relatively modest and still in development. This is why customer assistance alternatives are somewhat limited. If you run into any problems, you may contact customer service via the following channels:
- The official Voyager Help Center
- Look over the FAQs.
- Accessing the user manuals
- Contact them at [email protected].
As previously said, Coinbase is a larger cryptocurrency trading platform. The size of Coinbase can be credited to the fact that it has a vast customer base. Moreover, it supports a significant number of cryptocurrency exchanges. As a result, it offers a variety of options for “customer assistance”. Take a look at the options that users can utilize to contact customer support providers, as listed below:
- Live conversation
- Send an email
- Dial 888-908-7930, the official toll-free number.
- Submit a complaint ticket through the Help Portal
- Checking out the FAQs
- Using the User Guides to resolve several issues
Voyager Vs. Coinbase: Evaluating The Advantages Of Trading Platforms
- In addition to allowing trading services in Canada, Voyager is a transparent and publicly traded firm.
- A unique feature is the FDIC protection on USD offered by the Voyager cryptocurrency trading platform!
- It offers a straightforward mobile interface making it easier for users to comprehend the information, instructions, and messages.
- A gateway to significant interest rewards is unlocked as soon as one obtains access to Voyager’s trading and purchasing services! As a result, the user receives a positive return on cryptocurrencies.
- The consumer can save some cryptocurrency dollars thanks to the commission-free deals.
- Since Coinbase is a well-known American cryptocurrency exchange, it provides its users with trading services that adhere to strict security standards.
- Additionally, trading platforms provide crypto insurance policies, providing some protection against market swings for cryptocurrency users.
- Customers have the choice to trade on Standard or Pro platforms on Coinbase. In Voyager, this feature is not present.
- The “Earn to Learn” incentives and “Staking Rewards” are two distinctive advantages. A rookie investor is strongly encouraged to learn more about cryptocurrency markets through the benefits of “earn to learn.”
- Coinbase accepts a much more significant amount of cryptocurrencies than Voyager.
- Additionally, Coinbase provides a significantly enhanced level of customer support, allowing users to find every possible solution to an issue.
Voyager Vs Coinbase: Evaluating The Disadvantages Of The Trading Platforms
- Voyager is unavailable on desktop
- It is unavailable outside the United States and in New York
- Voyager does not provide its users with any call support. This is a major disadvantage for traditional users.
- It does not allow coin-to-coin swapping.
- A major drawback of Coinbase is that its trading fees are significantly high and often unaffordable for many.
- The fee structure of Coinbase is complex for trading, withdrawals and deposits.
- Coinbase has been through a massive hack attack in 2021. Some repercussions related to the same and glitches are yet to be fixed.
- Its customer service is slow and prolonged. This can be quite frustrating for the users.
Frequently Asked Questions (FAQs)
What should I do if my Voyager or Coinbase account fails unexpectedly?
Your money, like any other digital account, will be kept secure. However, if you are experiencing such difficulty, please get in touch with customer service right away!
Can the customer service team resolve our issue?
The customer support representatives are skilled in handling inquiries. When hired, they are also taught a variety of strategies to help them tackle minor and complex problems. They are patient and well-mannered and always eager to make your resolve your complaints.
What is the most excellent trading platform for cryptocurrency exchanges?
After careful consideration, Coinbase provides a wide range of benefits and services under one roof. As a result, Coinbase is the superior cryptocurrency exchange platform.
Can I give the bank my private key?
There is no such prohibition; however, it is recommended that the private key be shared in person with bank officials. This will reduce the likelihood of being scammed via phone calls or texts.
We just looked at Coinbase and Voyager from different perspectives. Voyager’s reputation as a cryptocurrency trading platform is still growing. Coinbase, on the other hand, is a well-known brand in the crypto business. However, each has advantages and disadvantages that allow them to be used for diverse purposes.