Cryptocurrency is the new gold! This is clear in its popularity and global acceptance. There are various records of people who have even turned it’s buying and selling into their full-time job. Making money through the buying and selling of cryptocurrency is very valid and some tools that facilitate this trade are cryptocurrency software.
The importance of cryptocurrency software cannot be over-emphasized and two major examples include binance and voyager. What do you know about this two software? Which is the best? Keep reading to find out more interesting features about them plus the one that will suit your needs.
The main difference between binance and voyager
| Features | Binance | Voyager |
| Smart devices | It has both mobile-based and desktop mode application type | A mobile-based application with a beginner-friendly features |
| Interface | Does not have a beginner-friendly user interface, especially for non-tech savvy folks | Voyager has a beginner-friendly user interface that is not intimidating to new users. |
| Country | It is an all-American company | It is not an all-American company |
| Features | Binance has features that are better suited to satisfy the needs of its users that have more to do with expert trading. This includes margin trading, an NFT marketplace, and a launch pad. | Users can automate their trade, which is an excellent choice for dollar-cost averaging. |
Binance vs Voyager: Features and capabilities
Features and capabilities of Binance
Crypto exchange platform
Binance is a crypto exchange platform that trades in over three hundred and fifty cryptocurrencies. The exception is only the US platform restricted to only fifty cryptocurrencies.
Crypto trading tools
Binance has some crypto trading tools that include a margin trading market, a derivative market, and a spot trading market.
Binance mobile app
Binance has a mobile app sauce from its desktop, mobile app. Some features include an NFT marketplace, a futures trading market, and a trading chart.
Sign up
Binance has a straightforward sign-up process requiring no technicalities. You do not have to be techy savvy.
Transaction fee
Binance has a low transaction fee for its major exchange.
Digital assets
Users of Binance are entitled to over one hundred and seventy-five digital assets. All these come with a free deposit.
Features and capabilities of Voyager
Brokerage app
This is a crypto brokerage application or a crypto trading platform used for crypto investments
Featured assets
Voyager features over thirty different assets supported on this platform
Mobile app
Voyager has an investment application that is available on both the Android operating system and IOS.
Investment returns
Investing yields up to 9% APY for its users
Other functions
Asides from its investment functions, voyagers are reading towards another function which includes using digital assets to facilitate payment capabilities.
Security features
Voyager has too securities features like FDIC (Federal Deposit Insurance Corporation) insurance of over $250,000 on their user’s payments and provisions for advanced fraud protection. They also have an approval stamp from auditors and regulators.
Pricing: Voyager vs Binance
Pricing of Voyager
It is free to download the voyager app, but your mobile carrier will charge you access fees. Unlike most other software that requires a monthly or annual fee, this crypto platform is quite different as regards how they make their income. Voyager gets its income through its spread on the price differences. The application can compare the prices of cryptocurrencies on a different exchange. Once Voyager saves money on a price, it passes some of its savings to its users while keeping some for itself. Other prices Voyager requests include wire transfer fees and withdrawal fees.
Pricing of binance
Purchase Fees
If you buy your cryptocurrency with your debit card or credit card, pay a 4.5% fee. Therefore, it is advised that you use other payment methods. Sure transfers would have been a better option as well because it doesn’t come with any transaction fee, however, they are not available in all locations.
Trading Fees
To trade on the Binance platform, you are charged a 0.1% fee and a 0.5% fee for instant buying and selling as well
Withdrawal Fees
The type of cryptocurrency you want to withdraw determines the amount of withdrawal fees you will be charged. The market status determines the fees you will be billed, therefore, you wouldn’t know the amount you will be charged until you are ready to withdraw.
Reasons to choose Binance over Voyager
- Voyager just enables users to trade fiat for crypto while binance, offers its users other variety of options.
- This platform does not support coin-to-coin trades or market pairs. This is because it is more of a broker than an exchange.
- Voyager does not feature a desktop trading app
- Deposits are restricted to $5000 thereby limited amounts of deposits for its users
- Binance supports over three hundred cryptocurrencies with a high and trusted level of liquidity
- You can use two-factor authentication to protect your wallet with Binance
- Finance has a derivative crypto trading platform.
Reasons to choose Voyager over Binance
- Voyager has over fifty listed cryptocurrencies, hence, giving its users more options to pick from
- Voyager’s crypto holdings have up to 9% APY
- All USD deposited in Voyager are FDIC insured. This is one of the topnotch security measures possessed by voyager
- Voyager is an audited and regulated platform that features a brokerage model and access to various types of exchange
- Binance is not appropriate for use if you are dealing with huge amounts of funds
- There are many complaints from users of Binance about experiencing site crashes at peak traffic
- Binance has an interface that might not be easily understood by beginners
Similarities between Voyager over Binance
Binance and Voyager are both cryptocurrency trading platforms with multiple digital assets available for their users
- They are both cryptocurrency apps that have a high level of security and trust. Binance and Voyager do not share the same approach to how each of them helps to secure the wallet of their users. They both feature different security measures, but they have been able to achieve the feat of vetting their users to trust their platforms.
- They both have a mobile application version
- Voyager and binance both have an easy sign-up process that comprises direct questions that can be filled without the need of the use tech-savvy.
Voyager over Binance Alternatives
Coinbase
Coin Base consists of a platform and bitcoin wallet that allows its users to trade with digital assets like Ethereum and Bitcoin.
RobinHood
One unique feature of Robinhood is that its users can invest in ETFs and united states stock without any commission
Gemini
Gemini is a New York cryptocurrency platform that enables customers to store digital assets and currencies while being eligible to buy and drill these digital assets.
Kraken
Kramer is a world side recognized bitcoin exchange platform that enables users to trade digital currencies like LTC, USD, XRP, ETH, and CAD
Final verdict
One thing that makes binance stand out among other cryptocurrency software is the variety of options it possesses. Binance has a variety of options in terms of support tokens and other available trading tools and markets to pick from. Voyager does not provide multiple varieties of options in terms of market, tokens, and other available options, but it is notable for the zero few on trades feature it possesses. If you are interested in the more affordable one between both of them, voyager beats binance to it. In the aspect of security, with backup services from FDIC- insured deposit, the voyager stands taller than Binance as well.
FAQ
Is Binance more expensive than voyager?
If you compare Binance to the voyager’s commission fee, binance seems more expensive. Also, the variety of options available on Binance as compared to voyager would make one guess that finance is more expensive. However, it depends on the pricing plan you are going for.
What is the Binance marketplace?
There are various digital assets to trade with and among them are binance def, binance smart chain, and NFT marketplace. Therefore, the binance marketplace is an example of the types of trade options that can take place on this software for investment
Asides nft marketplace, there are other types of markets to trade with margin trading market and derivatives inclusive. If you wish to invest in the different available defi projects on Binance smart chain, you will be given access to a launchpad.
What are the stand-out features of voyager?
Voyager’s mobile application interface has tools that allow its users to put their trades in automatic settings, which is an excellent option for dollar-cost averaging. Also, with the voyager’s app, you can send funds from one wallet to the other. It is easy with portfolio management tools and an interactive chart that is quite intuitive.