Voyager (VGX) crypto up 3000% YTD: How far can the voyage go?

4 min read | November 22, 2021 08:33 PM AEDT | By Ankit Sethi

Voyager (VGX) crypto up 3000% YTD: How far can the voyage go? — Image source: Pixabay.com

What is Voyager crypto app?

Quite simply, Voyager is a broker that facilitates crypto trading just like any other broker in the traditional stock market.

The user can forget about exchanges like Coinbase and Binance and avail the services of Voyager. Doing this gives access to over 50 crypto assets without signing for the service of any exchange. Most users may not know that any particular crypto may not be available on all exchanges. For example, Coinbase added Shiba Inu meme coin to its trading platform only in September 2021.

Also read: 5 low-priced cryptos that may script a SHIB-like surge story in 2022

With Voyager – the app is available on iOS and android – the user can trade listed crypto assets and they might come from any exchange. Besides, like traditional stock brokers, Voyager enables monitoring of performance through interactive charts.

Is Voyager crypto app safe?

Voyager is a publicly traded company with headquarters in the US. Second, it is regulated and the holding is secured by the Federal Deposit Insurance Corporation (FDIC) backing.

The crypto broker also claims to hold all data in encrypted form to ensure user privacy. The user’s bank account is linked to Voyager by Plaid, which is a fintech solution provider connected with thousands of financial institutions.

Does Voyager account earn APY?

Annual percentage yield (APY) of up to nine per cent can be earned by Voyager accounts given they meet the criteria for minimum holding. It varies from crypto to crypto. For example, Bitcoin holding can earn APY of nearly six per cent, while a USDC (a stablecoin pegged to the US dollar) earns nearly nine per cent.

Also read: Is Bitcoin better than gold as hedge against high inflation?

How does Voyager crypto app work?

The user can create an account with a daily deposit limit of US$10,000. As of now, Voyager only allows US dollar to crypto coin and vice-versa trades, and trading a coin for another may be allowed in future.

The platform is reportedly allowing handful users to join and the waitlist to open a Voyager account is long. In the event of account getting activated after verification, the user can set up automatic purchase. Here, the app will automatically buy crypto assets using USD from the linked bank account on a recurring basis.

Multiple crypto assets including Bitcoin (BTC), Cardano (ADA), Dogecoin (Doge), and Basic Attention Token (BAT) are available on Voyager. Trades attract no commission.

Also read: After Shiba Inu’s rally, 5 meme cryptos to watch in 2022

What is Voyager crypto?

VGX is the native token of Voyager app. It is used by the platform to reward account holders. Besides, it can be used in the cashback program of the platform.

Image description: Voyager crypto price in 2021

Voyager crypto price prediction

As of now, VGX is trading at nearly US$5. On January 1, 2021, the price was mere US$0.16. The price skyrocketed to US$7 by February 21, but this was followed by a long period of slump until mid-July.

Voyager commands a US$1.4 billion market cap, and attributes like an easy brokerage platform to hold cryptos with FDIC-insurance backing can likely lead to growth in Voyager crypto. It is very likely that a sustained bull-run in Voyager can take price in double digits by the end of 2021.

Bottom line

Voyager crypto app is promising due to multiple reasons. One, it allows trading in multiple crypto assets without having to sign up for exchange services. Two, it is a regulated and publicly traded company. And lastly, the native currency VGX can find more tackers with the growth of the platform.

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