Contributor, Benzinga
May 3, 2021

For cryptocurrency enthusiasts looking to trade or gain interest on their crypto assets, Voyager and BlockFi are platforms that can help achieve these goals.

Voyager is a mobile app that allows you to buy, sell and exchange crypto assets. It is a free app available to both iOS and Android users. Voyager supports a wide range of cryptocurrencies. From Bitcoin to altcoins like Chainlink and stablecoins like USD Coin (USDC). 

The Voyager app, since its launch in October 2019, continues to add new cryptocurrency assets regularly. When the app was launched in 2019, there were just 20 supported crypto assets. As of June 2022, there are over 100 cryptocurrencies. The platform plans to add more cryptocurrencies over time.

BlockFi is a financial management platform that allows you not only to trade crypto assets but earn interest on them. BlockFi also provides users with up to 50% USD loans using their crypto assets as collateral.

Here's a review of Voyager and BlockFi to help you decide which best suits your needs.

Disclosure: eToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.

Product Offerings

Voyager and BlockFi provide services that enable users to trade and earn interest on crypto holdings.

Voyager

Voyager interest program

Voyager allows you to earn interest on your crypto in the Voyager app. You can actively trade and earn interest at the same time with no lockups or limits. Users can earn monthly rewards on over 39 assets. Voyager pays customers the following interests on the respective assets below.

USD Coin (USDC)  9%
Bitcoin (BTC)  3.25%
Ethereum (ETH) 4.05%
Polkadot (DOT)   10%
Cardano (ADA)   3%
Voyager Token (VGX)7%
Chainlink (LINK)   2%
Solana (SOL)  3%

It is important to note that the specific interest rate for each coin is subject to the amount you own. For example, an interest rate of 3.25% can only be earned on an amount equal to 0.01-0.25 BTC. The larger the holding, the lower the interest rate. Voyager uses a tier system of 1-3 to determine which interest rate you are eligible for.

BlockFi

BlockFi has three main product offerings on its platform: BlockFi interest account, trading account, and crypto-backed loans

BlockFi interest account

BlockFi interest account allows you to grow your cryptocurrency holding. You can grow your assets by depositing your crypto in your BlockFi Interest account. BlockFi offers the following interest rates for the crypto assets below.

Stablecoins -  interest rate of up to 7% on USD Coin, Tether (USDT), and Gemini Dollar (GUSD).

Bitcoin - interest rate of 3.5% on up to 0.10 BTC and 2% on any amount over 0.1 BTC .

Ethereum - interest rate of 3.5% on up to 1.5 Ether, and 2% on any amount above that.

Trading account

BlockFi Trading allows you to trade your crypto assets right within the BlockFi platform.

Crypto-backed loans

BlockFi allows you to borrow USD using your crypto assets as collateral. You can borrow up to 50% of your crypto on BlockFi.

User Benefits

Voyager

Apart from the fact that Voyager charges no fees or commissions, you are going to love its simplicity and ease of use. Some of the most loved Voyager features are:

Intuitive order placements

With the Voyager mobile app, placing an order is very simple and straightforward. Even if you have never placed an order before, you can place an order in seconds, with just a few taps on your mobile phone. To place an order, enter your order information, swipe up, and wait for your order to be completed. 

Voyager crypto education   

Voyager offers tools that can help you learn more about the crypto market before you start trading or investing. Some of their educational features include Node by Voyager (the company's blog) and their in-house newsfeed.

Custom chart views. 

The Voyager's mobile app will work in both horizontal and vertical chart views. For a better idea of the bid and ask spreads, hold your phone in the upright position. Turning your phone to a horizontal position will make it easier to use the advanced charting and analysis tools.

Easy signup 

Voyager makes it incredibly easy to signup and begins trading in minutes. After downloading and signup, you then submit some of your personal information through the app. After that, Voyager guides you on how to fund your account and start trading. 

BlockFi

Monthly/ Compound Interest  

BlockFi allows you to earn more cryptocurrencies while holding for long-term investments. As an account-holder, you can earn monthly and compound interest, which can significantly increase long-term earnings over time.

Receiving USD

With BlockFi, you can use your crypto assets as collateral to receive USD to your bank account. 

Supported Coins

Voyager and BlockFi both offer support to Bitcoin and other cryptocurrencies.

Voyager

Voyager offers users access to a vast range of coins and tokens. You can currently invest in the following crypto assets through Voyager:

  • Cardano (ADA) 
  • Algorand (ALGO)Cosmos (ATOM)
  • Avalanche (AVAX)
  • Band Protocol (BAND)
  • Basic Attention Token (BAT)
  • Bitcoin Cash (BCH)
  • Bitcoin Satoshi’s Vision (BSV)
  • Bitcoin (BTC)
  • BitTorrent (BTT)
  • Celo (CELO)
  • Compound (COMP)
  • Dai (DAI)
  • Dash (DASH)
  • DigiByte (DGB)
  • Dogecoin (DOGE)
  • Polkadot (DOT)
  • Enjin (ENJ)

BlockFi

BlockFi gives you access to buy, sell, or exchange cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and PAXG, as well as USD-based stablecoins, like USDC, USDT, GUSD, and PAX.

Commissions and Fees

Both platforms offer commission-free trading.

Voyager

Voyager does not charge you any fees or commission to trade. This means that during trade, you only pay the quoted price when you execute your order.

BlockFi

BlockFi also charges zero commission or fee. However, to access the crypto-backed loans, you will pay an interest rate on loan. BlockFi gives one free withdrawal per month; after that, you are charged for subsequent monthly withdrawals.

Customer Support

Voyager

Voyager customer support is limited to email and in-app messaging. You can reach Voyager customer service through email and in-app messaging channels.

By Email 

To reach the customer service team through email, send your message to support@investvoyager.com. For a faster response, ensure you provide as many details of your problem as possible. Submitting the message using the email associated with your account increases your chances of getting a faster response. 

Through In-app messaging

If you do not want to send an email, you can get assistance on the mobile app. Open the Voyager application and navigate to your account page. Click on the “Help" tab, then write and submit your request.

BlockFi

BlockFi provides users with many different channels to reach customer support. You can search for support in the help center, or you can submit a ticket or get in touch with customer service.You can contact BlockFi customer service at +1 646 779 9688 or write to them at support@blockfi.com.

Security

Security of your assets is a vital, non-negotiable factor to consider before choosing to invest or trade in any platform or broker. Here's how both platforms secure the crypto assets of users.

Voyager

Voyager uses a 2-factor authentication (2-FA) system. This is great because it provides an additional security layer to ensure no one else can gain access to your account but you.

BlockFi

BlockFi adheres strictly to U.S rules and regulations. Although it is independently-owned, it works with well-established financial institutions like Fidelity and SoFi. This is to ensure your crypto assets consistently perform at optimal levels.  BlocFi Riverside approach means your assets are safe because a large amount of collateral secures them. You are guaranteed easy access to your funds.

The Winner Is?

Ultimately, your choice depends on your peculiar needs. BlockFi, when compared to Voyager, offers much better interest yields. BlockFi, therefore, serves you best as a crypto lending/ loan platform. Voyager, however, is a better choice for trading cryptocurrency. 

Disclosure: ²Sum 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

Frequently Asked Questions

Q

Can you buy crypto on BlockFi and Voyager?

A

Yes, both platforms allow you to buy, sell and trade cryptocurrencies.

Q

How do Voyager and BlockFi pay interest?

A

Voyager pays interest monthly and deposits directly into your Voyager accounts. BlockFi interest account allows you to earn compound interest on any crypto you keep in the account.

The Crypto Rocketship: Weekly Newsletter
  • Exclusive Crypto Airdrops
  • Altcoin of the Week
  • Insider Interviews
  • News & Show Highlights
  • Completely FREE