It seems like everybody is talking about cryptocurrency lately. And with the gains your friends and coworkers are experiencing, it’s no wonder the topic has become so popular. But it’s not just talk. Participation is increasing rapidly as new investors clamber to get in on the action.
Of course, getting into crypto isn’t always easy. The first step a trader needs to take before purchasing Bitcoin, Ethereum or any other popular altcoin is to find a reputable trading platform. Voyager remains a solid platform for discerning consumers in the space.
Voyager has a suite of available tools, giving customers access to advanced charting and integrated profit and loss tracking. The biggest attraction to the platform, however, may be the interest paid on holdings. Similar to staking for interest, Voyager allows customers to earn up to 12% APR on their stablecoin holdings.
Voyager is technically not an exchange but a brokerage. The broker model employed by Voyager uses what the company has coined Smart Order Routing. The tech behind Smart Order Routing allows the platform to search a number of exchanges for the best price on every purchase. Because discrepancies in price exist among the currencies offered on different exchanges, this feature might just save you enough fiat to buy a few altcoins alongside your Bitcoin purchase.
Bitcoin vs. Altcoins
With over 60 cryptocurrencies available to choose from, Voyager has increased its offerings to meet the demands of an emerging investor class. While many traders still deal strictly with Bitcoin, the gains realized in the altcoin market are sometimes too good to pass up. From decentralized finance (DeFi) to stablecoins, Voyager casts a wide enough net across the market for most users’ tastes. But what’s the difference between Bitcoin and the other available cryptocurrencies?
From an investor’s point of view, the largest factor separating Bitcoin from the altcoins available on Voyager is risk. While risk is involved in any investment decision, the level of risk rises as you work your way down the list of cryptocurrencies arranged by market cap. Buoyed by size alone, Bitcoin is likely the safest bet if steady returns are desired over the long run.
With the risks inherent in the altcoin market there is also great potential reward. And while Bitcoin may double or even triple in the coming year(s), a number of altcoins will reach dizzying heights in that time, sometimes returning gains of over 1,000% to its investors!
Another factor that separates Bitcoin from the altcoins is the actual blockchain associated with the currency in question. While Bitcoin operates on its own blockchain, many altcoins are built on top of alternatives, such as Ethereum.The price of altcoin tokens built on top of the same blockchain correlate strongly with one another and the coin native to the platform.
Deciding between Bitcoin and the available altcoins on Voyager may seem daunting to investors new to the trading platform. Determining the coins that have potential while avoiding overvalued assets is key.
Best Cryptocurrencies on Voyager
A number of characteristics are inherent to cryptocurrencies that give investors a window into their potential. Factoring in supply, utility and investor sentiment is imperative if you hope to see the impressive gains your friends are talking about.
While the maximum and circulating supply of any token can help determine a realistic market cap attainable by a company, understanding the utility or usability of a cryptocurrency can lead a savvy investor to undervalued coins. A cryptocurrency can also be measured, to no small degree, by its appeal to new investors.
Based on key factors including supply, utility and investor sentiment, the following list represents the best cryptocurrencies available on the Voyager platform:
- Bitcoin (BTC) takes the top spot here as the original and largest cryptocurrency by market cap, sitting comfortably over $380 billion. This behemoth in the crypto space is currently priced at $20,088.46 at the time of writing.
- Ethereum (ETH) earns the silver medal in this list of best cryptocurrencies on Voyager. At around $1,107 per token, Ethereum’s market cap is less than half of Bitcoin’s, but growing at a faster rate. The market cap for Ethereum is just over $134 billion.
- Polygon (MATIC)is an Ethereum sidechain that is scaling DeFi at a rapid rate. Ethereum's high gas fees have highlighted the networks struggle to upgrade to Eth2. Ethereum co-founder, Vitalik Buterin, has expressed his support for Layer 2 scaling solutions, which handle transactions on a side chain before submitting a batch of transactions to Ethereum's layer 1 blockchain. As a result, users pay significantly less transaction fees and can settle transactions in just a few seconds. Polygon currently sits just above $0.49 per token with a market cap of over $3 billion.
- ChainLink (LINK) also made the list of best cryptocurrencies available on Voyager, having proven itself to investors time and time again with impressive gains. The protocol holds a market cap of over $2.9 billion and is available for $6.30.
- Polkadot (DOT) is referred to as a layer-zero blockchain. It will support 100 parachains on its platform, allowing distinct blockchains to be able to communicate with each other. It's a proof of stake blockchain which seeks to be a scalable solution for smart contract blockchains. The token's market cap is over $7 billion and can be purchased for $7.18 each.
Cryptocurrencies You’re Missing Out On
Of course, there are a few popular cryptocurrencies you won’t find on Voyager. A few of top cryptocurrencies you will need to look elsewhere for include Binance Coin (BNB) and Theta (THETA). Luckily these are all available on other top-rated exchanges, namely BinanceUS and Coinbase.
Store Your Crypto Safely
Whatever cryptocurrencies you end up purchasing, be sure to take full custody of your investment by moving your assets off of your chosen exchange. Take the time to set up a digital wallet or purchase a cold storage unit to keep your crypto offline completely. Remember to protect your private keys and passphrase in a secure location and never share them. A great option for offline cryptocurrency storage is Ledger, which sells affordable hardware wallets that supports thousands of cryptocurrencies.
Cryptocurrency Price Movements
With the market heading back toward all-time highs, traders and enthusiasts around the globe are wading back into the warm waters of the altcoin sea. Just make sure you have your shorts on when the tide goes out. Changes in market conditions can happen quickly and without warning. When the market turns, there is seldom enough time to sell before your amazing gains turn to losses.
Understanding the nuanced market changes occurring in real time can help save those gains from an inevitable future downturn. With that in mind, it’s sometimes easy to forget that the cryptocurrency market doesn’t close. As North America sleeps, participants throughout Asia drive prices, sometimes increasing volatility in the space.
Other Cryptocurrency Exchanges Available in the US
Finding reputable platforms for trading cryptocurrencies in the U.S. is becoming easier. Thanks to a growing interest in these digital assets, available exchanges have increased dramatically over the years.
The need to have accounts on several exchanges becomes evident as you search for specific coins that may only be available on one or the other. Outside of Voyager, Coinbase and BinanceUS are likely the most popular options available. Alternative exchanges available to U.S. consumers include eToro and Kraken.
Whichever exchange you use, an in-depth understanding of the best cryptocurrencies they offer can help guide your investment decisions toward the gains you’re seeking.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
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Frequently Asked Questions
How many cryptos does Voyager offer?
Voyager offers over 80 different cryptocurrencies.
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About Micah C. Miracle
Before writing for Benzinga, Micah’s work was featured on a number of ranking news sites, including The Merkle, Global Coin Report and the Crypto Gazette.