Voyager vs. Coinbase: The biggest differences
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 vs Coinbase overall
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
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 60 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.
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 80 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.
Rickie Houston, CEPF
Rickie Houston is a wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. He is also a Certified Educator in Personal Finance (CEPF). Previously, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He’s contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service. Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »