How To Use Voyager
Voyager is another trading platform that is friendly to those in the United States. Like its competitors Coinbase and Gemini, they have built a very simple app that is geared towards seamless onboarding for the beginner, looking to secure their first coins. Voyager offers 60 different crypto’s, including some interesting ones like Hedera Hashgraph, Monero, Serum, and StormX. Just last week, Mark Cuban and the Dallas Mavericks penned a five-year partnership with Voyager.
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Covered In This How To:
- Signing Up
- Depositing
- Buying Crypto
Signing Up
New York is the only state where you cannot use Voyager, but they are working on licensure there. The registration process is very simple, and of course includes KYC, and your social security number in the case of Voyager. You can either download the app or visit their website to begin. Use Code GEOD68 to receive $25 free BTC when you trade over $100.
Once signed up, and KYC completed, the app is remarkably simple. Voyager offers the buying and selling of crypto, recurring buys, and an ‘earn’ program where you can earn a yield for holding your crypto. Currently, they offer very competitive rates, with 12% APY on Polkadot, 9% on USDC, and nearly 6% on Bitcoin. You can learn more about the earn program, here.
The voyager home screen has 3 options: Market, Portfolio, and Account. These are the options you will use to navigate the app, as seen below.
Depositing Into Voyager
In the above image, we have portfolio toggled, and this is the place where you will be able to either deposit cash by linking to a bank account or deposit crypto from an external address. You can link to your bank account, and Voyager uses Plaid to connect. If you wish to deposit crypto, you will click ‘receive crypto’ and will be taken to the below screen where you will find the ‘receive’ address and QR to send from an external address.
Buying Crypto On Voyager
Unlike Coinbase, you cannot swap between different crypto’s. If you deposited ADA, you would need to sell it in order to buy something else. To view different assets, you will click on the market tab, as you can see below.
If you want to then buy BTC, you will click on it and will be taken to the below screens.
Market Order v. Limit Order
As you can see, there is an option for a market order or a limit order. You can toggle between the two. On Voyager, the market price updates by the second, so you will see the price change literally every second in some cases. This is good because, on some spot exchanges, the price you buy the asset at widely varies from the actual market price.
Voyager fixes this by using a system called ‘smart order routing’. “By connecting to more than a dozen secure and trusted exchanges and market makers, Voyager offers investors unparalleled speed, liquidity, and pricing – all in one app.” What’s more, trades are commission-free, and due to this routing, Voyager has very deep liquidity. In many ways, Voyager could be considered a ‘cex-aggregator.’
The last of three homepage options is the account option, where you can see all the different options for the app. Here you can add another bank account under the ‘bank account’ option, withdraw and deposit under the ‘transfer cash or crypto’ option, set up recurring buys, and then there is the ‘earn rewards’ option mentioned earlier in the article. To earn interest on your crypto, all you need to do is hold it. You can opt-out, but there is nothing to do to opt in.
That’s pretty much the gist of Voyager, a simple, intuitive, commission-free platform that offers interest on your crypto, accurate market orders, and a wide variety of interesting assets not found on common trading platforms. If you have friends or family looking to get into crypto, have them give Voyager a shot.
To learn more or to get started, download the app or visit their website. Use Code GEOD68 to receive $25 free BTC when you trade over $100.
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