Voyager vs Gemini: Which Exchange is Right For You?

To deal in cryptocurrency, you’ll need to find a digital platform to exchange the currency. A digital currency exchange – otherwise known as a DCE – allows users to store, trade, and transfer crypto assets to other people. There are plenty of platforms to choose from, but today we’ll be looking at Voyager vs Gemini.

We also recommend that you check out our articles on Gemini vs. Coinboise and Coinbase vs. Voyager to understand better how these platforms work. The more informed you are about the exchange process, the more lucrative decisions you can make in this digital marketplace. So which is better, Gemini or Voyager?

What to Know About Gemini

voyager vs gemini

Gemini is a user-friendly cryptocurrency exchange site, offering services for beginners and experienced traders alike. Founded in 2013 by the Winklevoss twins, this platform is primarily focused on security and compliance. It’s available in all 50 U.S. states, and it offers wallet insurance to users in the event of theft or fraud.

In addition to its insurance coverage, Gemini offers strong security measures and a decent number of control features. You can exchange in the following currencies: Bitcoin, Ethereum, Dogecoin, Gemini Dollar, Solana, Cardano, USD, Terra, and Uniswap. 

What to Know About Voyager

voyager app

Voyager is a mobile-friendly broker that offers commission-free trades. With over 100 cryptocurrencies to choose from, this platform offers both individuals and institutions exchange services. Users earn monthly interest to maintain their account balance.

Voyager emphasizes liquidity so that you can sell digital assets for cash. While Voyager doesn’t have a rating from the Better Business Bureau, it has developed a reputation as a recognizable broker that facilitates easy trades.

Altcoins Supported on Voyager vs Gemini

While both exchanges offer a large number of popular altcoins, the offerings differ somewhat. Here is a list of top altcoins found on one exchange but not on another:

Terra Luna (LUNA)1inch (1INCH)
Avalanche (AVAX)SushiSwap (SUSHI)
Serum (SRM)Loopring (LRC)
Shiba Inu (SHIB)Cosmos (ATOM)
Tron (TRX)Loom (LOOM)

Which Platform Charges Lower Fees

When choosing a platform, it’s important to look into its fees and commission rates – you don’t want to be charged an exorbitant or unexpected amount of money. At Voyager, there aren’t any commissions from the interests or trades. However, when you buy or sell on the Voyager app, expect the coin price to move up or down by about .3% from the original cost.

Gemini charges somewhere between 1.5% and 5% in fees. You can theoretically work around this by wire-transferring money and waiting two weeks for the funds to settle, then buying a DAI to transfer to another exchange. However, this process may not be worth the effort as it only saves you about .1% in commission, which is $1 for every $1,000.

Voyager tends to be much lower in the amount it charges in terms of fees. However, this may not always be the case; Gemini may decide to lower its fees someday.

How the Sign-Up Processes Compare

Both exchange platforms are similar in the sign-up process: you register by providing the personal information needed to verify your identity. This could include your email, phone number, birth date, and residential location. To set up monetary exchanges, you may need to provide bank account details or a transfer option such as Paypal. 

When comparing Gemini to Voyager, there are a few key differences in the sign-up process. Voyager tends to be more mobile-based than Gemini, so it will ask you to download the mobile app to get started. Gemini asks you to enter promo codes to access certain aspects of the site.

Both platforms offer a bonus for signing up. Voyager gives $25 after depositing $100 into your account, while Gemini provides $10 for buying or selling $100 worth of cryptocurrency. While Voyager outmatches Gemini regarding sign-up bonuses, there are other things to consider when selecting a platform.

Which Platform Offers the Best Yields?

On average, Voyager offers better yields to its userbase. We’re basing this on the ability of the user to stake or loan a cryptocurrency to earn a yield on it. Gemini doesn’t allow this practice at this time. Meanwhile, Voyager is offering a 1% to 2% yield on its currencies, paying out on an annual basis. However, Voyager’s yields aren’t as lucrative as other crypto-lending platforms – Celsius and Blockfi tend to outmatch competitors by offering 5% to 12% yields. 

Which Platform is More Trustworthy?

For some exchange users, trustworthiness will be prioritized over all else. Users want to know that their platform is safe, credible, and run by a trustworthy team. Both Gemini and Voyager have developed decent reputations in this area, as both platforms are multi-million dollar companies with years of backing experience. 

Both companies use cold storage, a security measure that holds cryptocurrency tokens offline. This method prevents financial loss from hackers or thieves. In addition, Voyager has FDIC insurance for balances over $250,000, and it has a system to prevent fraud.

Meanwhile, Gemini has a report feature for fraudulent activity and a coordinated disclosure program to improve security. While Gemini currently doesn’t offer phone-based support, it does offer two-factor authentication and security keys. Gemini’s site also lists educational resources to avoid scams. 

Choosing Your Exchange Platform

When selecting an exchange platform, you should always take the time to figure out your priorities and then do the research to learn which platform works best for you. Learning any information could be incredibly beneficial to you in the long run. 

Here are some things to look for in choosing an exchange platform:

  • Accessibility. Is the platform available at your location?
  • What coins does the platform trade?
  • What payment methods does the platform accept?
  • What are the fee rates?
  • What is its liquidity like?
  • What tools and resources does the platform offer?
  • Does the platform have robust security measures?
  • What kind of reputation does the platform have?

These questions will help determine if the platform is right for you.

Why We Prefer Voyager 

While we use Gemini and Voyager for crypto exchanges, we believe Voyager has a better platform. It has lower fees and no commissions and provides a greater variety of alt-coins. Both platforms come with benefits.

Frequently Asked Questions

Log in to the chosen provider and search through the site. You will likely need to link your wallet to a personal bank account or an institutional account if you're conducting business.
Usually, virtual assets are stored in cold storage facilities. This offline storage method keeps your currency secure, connecting your assets to a place outside of the digital sphere. In addition, there are paper wallets, hardware wallets, good wallets, and deep cold storage.
Once you've registered with the proper information, there's a waiting period for the platform's owners to verify everything. Follow instructions given by the platform. Be honest and accurate with your information; this will act as a security measure for future breaches. Create a password that's difficult to guess. For Gemini, the platform asks you to give proof of your identity - usually from a state ID, a driver's license, a passport, or a green card. In addition, if you live outside of the United States, you'll need to check for areas of availability.
This is a process for exchanging liquid assets - or cash. Market liquidity refers to the buyer's ability to quickly buy or sell an asset without causing a drastic change to its value.
he platform you sign up for will provide instructions on how to trade. Generally speaking, you'll need to transfer money into your platform's account, exchange it for cryptocurrency, and then start facilitating trades with other users. Doing this over a period of time should give you some interest from the assets that are stored.

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