Want to jump straight to the answer? Voyager is better for staking and Coinbase is better for trading.
Photo by Hermes Rivera on Unsplash
Whether you prefer a decentralized exchange (DEX) or a traditional trading platform, the options available for trading crypto have grown dramatically in this burgeoning industry. Participation in the cryptocurrency market is rapidly increasing. And with a number of altcoins making headlines again, exchanges are pressured to increase their offerings.
As the array of choices available to new investors continues to grow, deciding between exchanges becomes more challenging. When comparing the features of Voyager and Coinbase, the benefits of each platform become readily apparent.
But what is a cryptocurrency exchange, exactly? And what makes them different from stock exchanges? Taking the time to understand the fundamentals can save you from a headache when making a decision between exchanges becomes imperative.
What is a Cryptocurrency Exchange?
With big names like Bitcoin (BTC) and Ethereum (ETH) driving the market, consumers interested in taking a position in either must first find a place to purchase it. In simplest terms, a cryptocurrency exchange is a platform that enables customers to do just that — buy, sell and trade crypto.
A few things stand out for cryptocurrency exchanges when compared to stock exchanges that deal primarily with equities. Most importantly, cryptocurrency exchanges have conformed to the regulatory demands of their specific industry.
While some platforms, like Robinhood, allow for the trading of crypto and stocks, cryptocurrency exchanges are more often exclusively geared toward trading digital assets.
Understanding what separates one cryptocurrency exchange from another makes more sense when considering the individual needs of investors in the space. The features offered by Voyager and Coinbase meet the needs of a diverse group of traders.
Important Cryptocurrency Exchange Features
The most important aspects of any exchange are its security, selection and features.
The security of the platform is undoubtedly the most important feature of an exchange. Nobody should entrust their fiat to a platform without certain assurances in place. Picking reputable exchanges with state-of-the-art security in place is key.
Second only to security in terms of importance, the selection of altcoins offered by a cryptocurrency exchange is often the deciding factor for consumers researching an exchange before signing up. Picking an exchange with a diverse selection of altcoins can save clients the headache of needing to sign up for multiple exchanges.
Last, the trading features included on a platform can make or break the deal for discerning investors in the space. Tools like advanced charting and analysis are absolute necessities for serious traders.
So, what features are available on Voyager and Coinbase?
Features on Voyager
Image via Voyager
A fantastic alternative to Coinbase, Voyager is a feature rich platform for trading a number top-tier cryptocurrencies. Technically a brokerage, Voyager uses a Smart Order Router to search over a dozen exchanges for the best price on its offerings. The Voyager brokerage service offers over 60 cryptocurrencies and is available for download on Android and iPhone mobile devices.
But the most appealing feature of the Voyager platform is probably the interest offered on over 30 cryptocurrencies. Voyager now offers up to 12% interest on stablecoin holdings as staking for interest becomes more popular.
Features on Coinbase
Photo by Austin Distel on Unsplash
Coinbase may be the world’s most popular exchange. With a reputation for fast and safe trading, Coinbase has become an institution in the cryptocurrency space.
Coinbase offers access to over 70 cryptocurrencies. And while the mobile platform remains light on features, it’s core functionality has become the industry standard. Luckily, a feature-rich trading desk complete with advanced charting and tools for in depth analyses is available at Coinbase Pro.
Voyager Fees vs. Coinbase Fees
One of the best things about Voyager is that the platform remains commission-free — but that doesn’t mean fees don’t apply. A flat fee, for example, is charged on crypto withdrawals, varying based on the token. In Voyager’s case, if you want to fully understand the fee structure, it pays to read the small print.
Despite a somewhat hidden structure, when compared to Coinbase, Voyager’s fees are much more straightforward. Apparently, Coinbase fees can vary depending on several factors, including your location and payment method. Sometimes appearing as a flat fee, and other times as a percentage, one thing is certain — you will be charged the greater of the two.
While Coinbase charges larger fees than many competitors in the space, the security of the platform is worth the extra cost.
Here’s a helpful tip — Switching to Coinbase Pro allows for cheaper cryptocurrency withdrawals. You can log in to Coinbase Pro with your regular Coinbase credentials.
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.
Security Features on Voyager vs. Coinbase
Both Voyager and Coinbase are regulated North American exchanges with secure trading platforms for discerning customers within the U.S. Both companies offer 2-factor authentication on accounts.
Coinbase takes security to the next level, storing 98% of customer funds offline. Employing industry best practices, Coinbase traffic runs entirely over encrypted SSL (https). And with an active Bug Bounty, researchers are constantly working to keep Coinbase customers safe.
Altcoins Supported on Voyager vs. Coinbase
While both exchanges make a large number of cryptocurrencies available to prospective investors, the offerings do not match up entirely. A short list of currencies offered on one exchange but not the other has been compiled below:
Altcoins on Voyager But Not Coinbase
- Shiba Inu (SHIB)
- Voyager Token (VGX)
- VeChain (VET)
- Iota (MIOTA)
- BitTorrent (BTT)
Altcoins on Coinbase But Not Voyager
- Solana (SOL)
- IoTeX (IOTX)
- 1inch (1INCH)
- Stellar Lumens (XLM)
- Amp (AMP)
So, Voyager or Coinbase?
After considering the features of both Voyager and Coinbase, the differences between them become clear. While each has exciting features to attract new participants, the tastes of individual consumers will ultimately determine preferences.
With a simpler fee structure and the ability to earn interest on holdings, Voyager offers rewards to its users that are hard to beat. However, the security offered on the Coinbase exchange is second to none. Also, Coinbase Pro’s unique trading features offer superior tech for advanced users.
Whichever exchange you decide on, Voyager and Coinbase both represent reputable cryptocurrency options among a growing field of competitors.
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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.