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Bottom line: Voyager and Coinbase each offer access to dozens of cryptocurrencies, with staking rewards and support both for individuals and institutions. Coinbase best suits both beginners and those in search of a greater selection of account features and crypto services. Voyager is a better choice for mobile-focused traders who want the lowest costs. However, Voyager filed for bankruptcy in July 2022, and the company is reorganizing its structure, so we advise looking elsewhere if you’re eager to get in on crypto.
*Note: Voyager recently filed for Chapter 11 bankruptcy. It says customers with USD in their accounts will receive access to the money after it completes a reconciliation and fraud process with Metropolitan Commercial Bank. Customers with crypto in their accounts will in exchange get a combination of the crypto from their accounts, proceeds from the Three Arrows Capital recovery, Voyager tokens, and common shares in the reorganized company, according to Voyager.
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.
Voyager
Coinbase
Account types
Personal/individual accounts
Account types
Personal investment and institutional accounts
Investment choices
Cryptocurrencies
Investment choices
Cryptocurrencies
Account perks
100+ cryptocurrencies
Interest rewards of up to 12%
Allows you to fund account with cash or crypto transfers
Crypto trading and human support for institutional clients
Account perks
170+ cryptocurrenciesStaking rewards of up to 5.75%Coinbase learning rewards; Coinbase One subscription level waives trading fees and offers market research and 24/7 priority supportWallet services; NFT tradingTwo advanced accounts: Coinbase Pro and Coinbase Advanced TradeCoinbase Card for spending; institutional services
Human advisors available?
No
Human advisors/experts available?
No
Robo-advice?
No
Robo-advice?
No
Is Voyager right for you?
Pros
Low minimum requirement; no trading fees Access to more than 100 cryptocurrencies Can earn up to 12% in interest rewards for certain cryptocurrenciesVoyager allows you to fund your account with cash or crypto transfers
Cons
Platform filed for bankruptcy in July 2022No live phone supportNo coin-to-coin exchangesNot available to New York residents
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 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 5.75% 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 also introduced 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).
The Voyager mobile app is available on iOS and Android devices.
Read Personal Finance Insider’s complete review of Voyager here »
Is Coinbase right for you?
170+ cryptocurrenciesLow account minimum; Coinbase One subscription includes 0% fees, 24/7 customer support, and advanced market researchCan earn up to 5.75% in interest for staking different assetsCoinbase offers digital wallet storage, crypto-backed loans, educational resources, card perks, and mobile access; expert traders can use Coinbase Pro or Coinbase Advanced Trade
Cons
No futures or margin tradingYou’ll pay more for lower balances
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 170 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 learning rewards (an educational program that pays you in crypto for learning about different virtual assets), Coinbase Card, Coinbase One, and digital wallet services.
With the Coinbase One subscription service, you get 0% trading fees, 24/7 priority customer support, and access to expert market research. You can sign up for a 30-day free trial, but you’ll incur a monthly fee after it ends. We aren’t clear on what monthly fees Coinbase charges following the free trial.
Coinbase additionally offers three different account types for individuals: the Coinbase standard account, Coinbase Pro, and Coinbase Advanced Trade. 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, and real-time market data and order books. Custodial accounts have also been established in a manner to make pass-through FDIC insurance available up to $250,000 per individual.
Coinbase Advanced Trade offers both the same fee schedule and many of the same features as Coinbase Pro. The biggest difference is that you not only get access to more security perks (e.g., Coinbase Vault and YubiKey for mobile) with Coinbase Advanced Trade, but you also can utilize additional trading charts and take advantage of interest rewards of up to 5% on multiple cryptocurrencies.
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 launched a beta version of its NFT marketplace. It currently offers 0% fees, and you can get started here.
Coinbase is available on iOS and Android mobile devices.
Read Personal Finance Insider’s complete review of Coinbase here »
Voyager vs. Coinbase — Frequently asked questions (FAQ)
What are the cons of Coinbase?
Coinbase doesn’t offer margin trading, and you’ll pay more for lower account balances. In addition, its staking selection is limited. You can only stake six cryptocurrencies at this time: Algorand, cardano, cosmos, ethereum, solana, and tezos.
How do you make money on Coinbase?
Crypto trading is one of the key ways to earn money through Coinbase, but you can also build wealth through staking, Coinbase learning rewards, NFTs, and the Coinbase card (this card offers up to 4% back in rewards when you use it for shopping).
What will happen to your crypto on Voyager?
Voyager says its customers will receive a combination of the following: pro-rata share of crypto, pro-rata share of proceeds from the Three Arrows Capital recovery, pro-rata share of common shares in its newly reorganized company, and pro-rata share of existing Voyager tokens. Users will also have the option to determine the proportion of crypto and common equity they’ll receive, according to Voyager’s website.