Difference Between BlockFi and Voyager

Both BlockFi and Voyager are platforms for cryptocurrency management that allow users to trade and gain interest in crypto assets. Both of the platforms are competing for the neck to neck in this field with their different benefits and services.

BlockFi vs Voyager

The main difference between BlockFi and Voyager is that BlockFi is a privately owned company that does not publish reports and it relies on Gemini, whereas Voyager is a publically owned company that trades under Voyager Digital Ltd (VYGVF). These platforms are different in many other aspects considering the different parameters of working strategies.

BlockFi vs Voyager

The main three product offerings on BlockFi are BlockFi interest account, trading account, and crypto-backed loans.

Voyager is another cryptocurrency investment, a free mobile app that is available for both IOS and android. It allows the users to trade cryptocurrencies and earn profit with no lockups or limits.

Comparison Table Between BlockFi and Voyager

Parameters of comparisonBlockFiVoyager
BenefitsBlockFiprovides crypto-backed loans.Voyager does not provide crypto-backed loans.
YieldsIt offers yields on PAXG.It does not support PAXG.
Signup bonusIt provides $20 in bitcoin.It provides $25 in bitcoin.
Customer supportIt offers its users several platforms to reach customer support.It only offers email and in app texting to reach the customer support.
OwnershipIt is a private company.It is a publicly owned company.

What is BlockFi?

BlockFi is a digital currency management platform that offers the trade of cryptocurrencies to all its users. It helps the users gain a profit interest of up to 8.6% annually.

All the users have to do is deposit their crypto in their BlockFi interest account. The interest rate for Stablecoins assets is up to 8.60% on USD Coin, Tether (USDT), and Gemini Dollar (GUSD).

The third and the last is crypto-backed loans which provide the service of borrowing USD in the bank account using crypto as collateral. Up to 50% of the crypto the user holds is allowed to borrow.

On BlockFi, no fee is charged on any activity, and it provides commission-free trading to its users. This platform strictly follows U.S rules and regulations.

What is Voyager?

Voyager is also a digital currency management mobile application that enables its users to trade crypto and earn profits. It allows the users to earn interest in the crypto in its app.

The sign-up process on the app is very simple, and the user can start trading just in a few minutes, and they also receive an amount of $25 in bitcoins as a bonus.

Secure funds remain the top priority for any crypto investor, and therefore, Voyager stands at the frontline in this field. Users always have their cryptocurrencies at their fingertips on the app. 

Main Differences Between BlockFi and Voyager

  1. BlockFi offers numerous different channels to its users who seek customer support for any of their problems like help center, phone call, ticket submission, email, and others, whereas the customer support mediums provided by Voyager are limited to emails and in-app messaging.
  2. BlockFi is a privately owned company, whereas Voyager is a publicly owned company.

Conclusion

The cryptocurrency industry is rapidly growing and attracting a huge population to invest in digital currency.

As the crypto market gains spotlight, all the platforms are competing for the neck to neck in achieving the goals of reliable accounts and thus, are trying to provide different services.

Voyager pays monthly interest, and it gets deposited directly into the user’s account, whereas BlockFi pays compound interest on any crypto in the account.

References

  1. https://academic.oup.com/rfs/article-abstract/34/6/2689/5912024
  2. https://jai.pm-research.com/content/20/3/16/tab-pdf-trialist
  3. https://ieeexplore.ieee.org/abstract/document/7906988/

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