BlockFi vs. Voyager Invest: Which is Best for Your Crypto Interest APY?

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BlockFi is an incredibly popular cryptocurrency investment app that lets users access a portfolio of more than 200 cryptocurrencies, and its interest-bearing accounts are also currently one of the highest paying. Voyager Invest takes a different approach, from what we can tell, however. Their interest-bearing accounts are still based on a relatively low interest rate of 4% (compared to BlockFi’s current APR of 7%.) But where Voyager stands out is in the fact that the free portfolio is only a small fraction of the total amount, and that the accounts don’t have an overdraft limit.

BlockFi, a new blockchain-based settlement system, is now the #1 mobile-based cryptocurrency account with interest rates of up to 14.7% APY. Voyager is a cryptocurrency-based investment firm that is making headlines with its unique approach to investing in the crypto sector.

The world of online investment is a confusing and complex one, but the good news is that with the right guidance and guidance, it’s possible to anticipate the long-term financial status of your crypto investments.

BlockFi vs. Voyager Invest is a venture capital firm based in New York City should be at the top of your list if you’re looking for a new bitcoin interest account.

BlockFi and Voyager are both businesses that enable you to earn income on your bitcoin holdings, but they are quite different. 

Voyager now provides better interest rates on a wider range of cryptocurrencies, but to receive interest, customers must maintain a minimum amount. BlockFi pays interest on stablecoins and has no minimum balance requirements.

Aside from rates, the most significant difference between a BlockFi and a Voyager is their business structure and reputations. 

An outstanding list of investors has helped BlockFi gain traction, including SoFi, Winklevoss Capital, Valar Ventures, ConsenSys Ventures, and others. 

Voyager Invest, on the other hand, is a publicly traded corporation with the ticker VYGR.CN on the Canadian Stock Exchange (CSE). 

Users may also purchase and sell bitcoin via both companies:

  1. Instead of flat-rate transaction fees, BlockFi earns money on the spread, whereas Voyager employs a hidden-spread trading strategy.
  2. Voyager does not enable bitcoin withdrawals, while BlockFi does. 

The bitcoin interest account product is the subject of the following BlockFi vs. Voyager comparison. 

Let’s get started. 

Key Differences Between BlockFi and Voyager

 

BlockFi

Voyager Invest

Reviews

Review of BlockFi

Review of Voyager Invest 

Site Type

Interest account in cryptocurrency Plus basic exchange

Cryptocurrency trade plus a cryptocurrency interest account

Suitable for beginners

Yes

Yes

App for mobile devices

Yes

Yes

Methods of Purchase and Deposit

ACH, wire transfers, and crypto deposits are all options.

External crypto transfer, debit card, credit card, bank wire

Methods of Sale and Withdrawal

Bank account, external crypto wallet

Transferring cryptocurrency from an external wallet

Cryptocurrencies that are currently available

Link + stablecoins (Bitcoin, Ethereum, Litecoin)

Bitcoin, Ethereum, Litecoin, and around 60 more cryptocurrencies are available.

The Beginning of a Business

2017

2017

Location

Jersey City is a city in the state of New Jersey in the United States. of America

Jersey City, New Jersey, United States

Trust in the Community

Great

Great

Security

Great

Unclear

Customer Service

Good

Okay

Verification is necessary (KYC)

Yes

Yes

Fees

Medium

Okay, that’s it (uses a hidden spread instead of flat fees)

Website + Promotion

On BlockFi, you may earn up to $250.

When you trade $100 on Voyager, you’ll get $25 in BTC as a welcome incentive. 

Bios of the Companies: BlockFi vs. Voyager Invest

BlockFi and Voyager were both established in 2017, a year before the notorious bear market of 2018. 

BlockFi, founded by Zac Prince and Flori Marquez, has received considerable interest from venture capital firms and angel investors interested in bitcoin businesses, including Winklevoss Capital, Pomp Investments, SoFi, and others. 

BlockFi vs. Voyager Invest: Which is Best for Your Crypto Interest APY?

Crunchbase’s BlockFi (courtesy of Crunchbase)

Its most recent financing round, in March 2021, raised another $350 million, valuing the company at $3 billion. 

BlockFi manages approximately $15 billion in assets and has over 225,000 members.

Stephen Ehrlic, Serge Kreiker, Oscar Salazar, Philip Eytan, and Gaspard de Dreuzy developed Voyager. 

Before going public on the Canadian Stock Exchange under the ticker code VYGR, it received over $100 million in private financing.

BlockFi vs. Voyager Invest: Which is Best for Your Crypto Interest APY?

Crunchbase is where Voyager invests (courtesy of Crunchbase)

Feature #1: Interest Rates: BlockFi vs. Voyager: Who Pays More?

Both platforms give out higher-than-average interest. 

Voyager’s prices vary every month, while BlockFi’s are liable to change depending on market circumstances.

Bitcoin

  • BlockFi uses a tiered interest-rate system for Bitcoin; APY scales based on how much BTC you store on the platform. Rates are around 4% for 0 – 0.25 BTC, 1.5% for 0.25 – 5 BTC, and 0.25% for > 5 BTC, but are subject to change.
  • Voyager pays 5.75 percent APY on all of a user’s BTC, however the client must have at least 0.01 BTC in their account to qualify for interest.

Ethereum

  • BlockFi also uses a tiered interest-rate system for Ethereum. Current rates are 4% for 0 to 5 ETH, 1.5% for 5 to 50 ETH, and 0.25% for > 50 ETH.
  • Voyager pays 4.6 percent APY on ETH, but customers must have at least 0.5 ETH in their account to receive any income.

Alts

Coin Name

BlockFi

Voyager

Aave

N/A

3.00%

Chainlink

3% (0 – 750 LINK), 0.5% (>750 LINK)

4.50%

Bitcoin Cash (BCH) is a cryptocurrency that

N/A

2.00%

Compound

N/A

4.00%

Dash

N/A

3.00%

Cosmos

N/A

3.00%

UNI

3.75% (0 – 750 UNI), 1.5% (> 750 UNI)

2.00%

Dogecoin

N/A

2.00%

Litecoin

4.5% (0 – 100 LTC), 2% ( >100 LTC)

5.50%

Polkadot

N/A

12.00%

Stablecoins

Coin

BlockFi

Voyager

Tether

7.5% (0 – 50,000), 5% (> 50,000)

N/A

GUSD

7.5% (0 – 50,000), 5% (> 50,000)

N/A

USDC

7.5% (0 – 50,000), 5% (> 50,000)

N/A

BlockFi is the winner.

Voyager outperforms BlockFi on most cryptocurrencies by giving higher rates for popular coins like Bitcoin and Ethereum, as well as a broader range of ways to earn interest on lesser-known tokens like Aave and Compound.

To qualify for interest, customers must maintain a minimum quantity of each crypto asset they wish to receive interest on in their Voyager account. 

BlockFi has a significant advantage in terms of stablecoin interest rates, while Voyager does not. 

Do you want to start making these kinds of money for yourself? 

While joining up with BlockFi, CoinCentral readers may earn up to $250, and when trading $100 on Voyager, they can get a $25 incentive.

What is the revenue model for BlockFi and Voyager?

BlockFi makes money by lending out user deposits at a greater interest rate than it pays out to its customers. These loans are over-collateralized, which substantially lowers the chance of default.

The exchange is Voyager’s bread-and-butter, and it utilizes a hidden-spread trading mechanism. It retains a portion of the difference between the price a user pays for a crypto asset on the company’s exchange and the price Voyager pays for the item.

For example, on Voyager’s exchange, a user may purchase 10 LINK for $200. However, Voyager may be able to get them for $190. The consumer would still be charged $200, and Voyager would keep the $10.

According to the company’s CEO, this technique has no effect on the profitability of its customers. However, Redditors and reviewers are divided.

Payouts and Withdrawals are the second feature.

BlockFi accounts earn income on a daily basis but only pay it out once a month. Each month, users are allowed one free crypto and one free stablecoin withdrawal. A fee is charged for further withdrawals.

Voyager also pays out monthly interest and allows for limitless penalty-free withdrawals– but there’s a catch: customers can’t withdraw crypto directly, and must first sell it for USD before withdrawing it. If earnings are generated, this usually results in a tax obligation.

BlockFi came out on top. This one is a toss-up. However, Voyager’s requirement that customers sell crypto assets to USD before withdrawing them may have a major negative impact on the user experience, particularly if the user has made large gains.

BlockFi vs. Voyager Invest Security (Feature #3)

BlockFi maintains cold storage for 95% of the money it handles. The Gemini Trust Company, which is SOC certified by Deloitte, is in charge of these.

Numerous user-facing security features are also available, including 2-factor authentication and the option to whitelist certain bitcoin addresses for withdrawals.

In this regard, Voyager falls short. Users’ USD money are insured for $250,000 by the business. It does not, however, cover digital assets such as bitcoin. The business provides two-factor authentication, but it doesn’t say anything about how it protects its money.

BlockFi came out on top. BlockFi is more open about its security procedures, so consumers are aware of the level of risk they are taking by using the platform.

Ease of Use is the fourth feature.

BlockFi and Voyager are both very simple to use. Both sites accept deposits through debit, credit, and bank transfer, which will appeal to crypto newbies. Each business also offers a robust mobile platform, which is ideal for individuals who want to monitor their cryptocurrency assets on the move.

There are two distinct points of distinction. BlockFi, on the other hand, has a web app, while Voyager does not. BlockFi also enables cryptocurrency withdrawals, while Voyager does not.

BlockFi came out on top. BlockFi wins because it has a solid online and mobile app combination, as well as the ability to withdraw assets. 

Standout Features of BlockFi vs. Voyager

The company’s interest-earning cryptocurrency credit card is a unique feature. It claims to pay 1.5 percent interest in Bitcoin on all purchases made by users.

The company’s “interest boosts” and native token are the company’s outstanding features. While a user is active, they may earn an additional 1% APR on selected currencies if they have at least 2,500 VGX. This number is subject to fluctuate during the year. 

BlockFi vs. Voyager Invest in the Court of Public Opinion

Both BlockFi and Voyager are popular among Redditors, albeit for different reasons. Voyager is popular with posters because it provides better rates on popular digital assets like Bitcoin, at least for the time being.

However, the bitcoin community as a whole seems to trust BlockFi more. It’s backed by some of the greatest names in venture finance, giving it a level of trustworthiness that many other platforms lack. However, since Voyager is a publicly listed business, it is not impossible for it to get comparable clearance. 

The consensus on the forums is to utilize both sites and invest your bitcoin where it will make the most money. BlockFi is preferred by more cautious customers owing to its loan disclosures. 

Both systems are custodial, which makes them riskier than self-custody in principle. Because the rates are not guaranteed, they should not be considered savings accounts.

Please let us know if your experience varies from what we’ve collected. You may join up for BlockFi or Voyager by clicking here. 

Customer Support: BlockFi vs. Voyager

From 9:30 a.m. to 5 p.m. EST, BlockFi provides live phone assistance. Customers may also visit an online FAQ page to obtain answers to frequent issues.

Voyager does not provide live customer service. It simply offers an online contact form that consumers may utilize to submit their inquiries.

Can You Put Your Faith in BlockFi and Voyager?

Both Voyager and BlockFi are regarded as very reliable. 

Despite a DNS assault in 2021, the money of Voyager’s users were never jeopardized. The stock of the business is traded on the Toronto Stock Exchange.

BlockFi’s security procedures have been recognized by Deloitte and the New York Department of Financial Services. BlockFi, along with close rival Celsius, is regarded the blue-chip of bitcoin interest accounts. 

Which Crypto Interest Account Is Better: BlockFi or Voyager Invest?

Two of the best bitcoin interest accounts accessible today are BlockFi and Voyager Invest. 

However, we believe BlockFi has the upper hand for the following reasons:

  1. BlockFi has a longer track record and greater community support than Voyager. 
  2. External bitcoin withdrawals are possible with BlockFi without triggering a tax event.
  3. BlockFi also takes extra precautions to protect its consumers’ money.

Voyager Invest, on the other hand, offers greater rates on BTC, ETH, and other cryptocurrencies if rates are all that matters to you. It also does not use a multi-tiered interest rate structure (though it does require a minimum balance). 

Voyager does not provide interest on stablecoins, while BlockFi does. 

If you want to create your own cryptocurrency interest platform, BlockFi and Voyager are good places to start– plus they have some of the best sign-up incentives in the industry.

BlockFi vs. Voyager Invest: Which is Best for Your Crypto Interest APY?

BlockFi vs. Voyager Invest: Which is Best for Your Crypto Interest APY?

BlockFi and Voyager Invest are both solid investment options, but there are a few key differences that you should know about before going forward with either of these two options.. Read more about blockfi vs voyager 2021 and let us know what you think.

Frequently Asked Questions

Is Voyager better than BlockFi?

Voyager is a cryptocurrency that was created in 2018. BlockFi is an exchange that allows you to trade cryptocurrencies.

Which is better BlockFi or crypto com?

BlockFi is better than crypto com.

Should I use BlockFi or Nexo?

BlockFi is a better option for those who want to invest in cryptocurrency. Nexo offers lower rates of interest, but its not as good for long-term investments.

This article broadly covered the following related topics:

  • voyager vs blockfi interest rates
  • celsius crypto vs blockfi
  • blockfi vs voyager vs celsius
  • blockfi vs voyager 2021
  • blockfi vs celsius

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Emilia James
By Emilia James

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