Nexo vs Voyager

Crypto platforms come in two types; centralized and decentralized. You can learn more about a decentralized platform by reading our BTCPop review. Nexo and Voyager are both centralized crypto platforms that offer a variety of services. Voyager got its start in 2018. It is based in the U.S. and is a publicly traded company listed on the Toronto Stock Exchange. Nexo was established in 2018 and is based in Zug, Switzerland. Since their launch they acquired over 5 million users. Our Voyager and Nexo review will take a look at both platforms so you can see which best suits your needs.

What is Nexo?

Nexo is a crypto banking platform that supports over 60 digital coins including its own native cryptocurrency, the NEXO token. As you can see in a Nexo review, the platform offers a variety of services. These include crypto backed loans, a crypto exchange, interest earning cryptocurrency accounts and a credit card.

What is Voyager?

Voyager is a cryptocurrency investment app that connects users to multiple crypto exchanges allowing them to support 103 different cryptocurrencies. That’s not as many as the Vauld crypto platform, which supports 250+ digital tokens, but is still respectable. Investors can earn interest on 39 different cryptocurrencies at Voyager, including their own digital token, VGX.

Features

Nexo Features:

• NEXO Token: Owning the native token of Nexo, the NEXO Token, provides holders better loan rates and higher returns on interest earning accounts as well as additional benefits through the Nexo loyalty program. The loyalty program consists of 4 tiers, with the user’s tier level based on the amount of NEXO they own.
• Base: No NEXO Tokens
• Silver: A minimum of 1% of the user’s portfolio is NEXO
• Gold: A minimum of 5% of the user’s portfolio is NEXO
• Platinum: A minimum of 10% of the user’s portfolio is NEXO
• Interest Earning Accounts: Investors can deposit 35 different cryptocurrencies into interest earning accounts on the Nexo platform. Nexo interest rates will vary depending on the digital coin deposited and on the investor’s tier level. Users can choose to deposit in a flexible account and withdraw at any time, or in a 1-month fixed account to earn an additional 1% interest. Depending on the tier level of the user, they can earn from 0.25% to 2% more if they choose to receive interest payments in Nexo. The minimum deposit to start earning interest will depend on the cryptocurrency but can be as little as $1.
• Crypto Backed Loans: Borrowers can get fast loans without a credit check by using their crypto assets as collateral. Nexo accepts over 50 different cryptocurrencies as collateral and loans are available in 40+ fiat currencies including Euros, GBP and USD. Loans can also be paid out in USD Coin (USDC) or Tether (USDT). The LTV of loans will depend on the cryptocurrency being used as collateral. The minimum loan amount is $50 and the maximum loan amount is $2 million. Loan terms are typically for 1 year but can be extended. Cryptocurrency loan interest rates start at 13.9% but depending on the loyalty tier level of the borrower and the LTV can be significantly lower. The following table shows the loan interest rates for the different tier levels.
  

  Tier Level	NEXO Token Requirement	Interest on Credit Balance
  Base	No NEXO Tokens Needed	13.9%
  Silver	Minimum of 1% of the user’s portfolio balance in NEXO	12.9%
  Gold	Minimum of 5% of the user’s portfolio balance in NEXO	8.9% for LTV over 20% 1.9% for LTV of 20% or lower
  Platinum	Minimum of 10% of the user’s portfolio balance in NEXO	6.9% for LTV over 20% 0% for LTV of 20% or lower

• Cryptocurrency Exchange: Investors can buy over 50 different cryptocurrencies with fiat currency at Nexo. They can also trade 61 different cryptocurrencies with over 300 market pairs available. Depending on the loyalty tier level, users can receive up to 0.5% in crypto rewards with every trade they make. Traders don’t have to worry about price fluctuations as the price is fixed once a trade order is placed and will be the same when it is executed.
• Credit Card: Nexo credit card interest rates can start as low as 0% and never exceed 13.9% APR and there are no fees. Nexo card holders are rewarded with 0.5% in BTC or 2% in NEXO with every purchase. The card is tied to the user’s crypto deposits which serve as collateral, with purchases being automatically deducted from the available credit line so there are no minimum monthly repayments.

Voyager Features:

• Voyager Token: Voyager has its own cryptocurrency known as VGX. Similar to Nexo, Voyager has a loyalty program tied to their token. Benefits include better interest rates on deposits of selected cryptocurrencies and crypto back rewards for trades made. There are 3 tier levels to the program.
• Adventurer: Hold 500+ VGX
• Explorer: Hold 5000+ VGX
• Navigator: Hold 20,000+ VGX
• Interest Earning Accounts: Investors can earn crypto when they deposit their digital assets at Voyager. Interest rates vary depending on the cryptocurrency deposited and the loyalty tier level. There are 39 different cryptocurrencies that can be deposited to earn interest, not as many as at MyCointainer, but more than a lot of platforms. A minimum balance that varies depending on the cryptocurrency must be maintained to earn interest.
• Crypto Exchange: On Voyagers cryptocurrency exchange investors can buy and trade 103 different digital coins. There is no commission charged when trading at Voyager.

The following table provides a brief summary of Nexo and Voyager platform features.

Nexo versus Voyager Interest Rate Comparison

Rates on interest earning accounts at both Nexo and Voyager can vary based on the loyalty tier level. We will first take a look at the base rates of 10 digital coins without any native tokens being held.

At the highest loyalty tier level Nexo users will earn an additional 2% while Voyagers users will earn an additional 1. 5%. In almost every instance Nexo has the better interest rates, often by a substantial amount.

Currencies

Nexo supports a total of 61 cryptocurrencies on their platform shown in the following table.

Of the 61 listed cryptocurrencies, 56 of them are accepted as collateral for loans and 35 of them can be deposited into interest earning accounts. All of them may be traded on the Nexo exchange. Nexo supports over 40 fiat currencies including USD, EUR and GBP

Voyager supports 103 different cryptocurrencies.

All of the cryptocurrencies can be traded on Voyagers exchange and 39 of them can be deposited to interest earing accounts. The only fiat currency supported on the platform is U.S. dollars.

Security

Nexo stores their digital assets in a combination of cold and hot storage using third-party custodial services such as Ledger, BitGo, Fireblocks and others. Custodial assets are insured for $775 million. The platform uses two-factor authentication (2FA), biometric identification and whitelisting to protect user’s assets and information.

As a publicly audited and regulated company Voyager receives a higher degree of oversight. Voyager uses encrypted storage and secure data transmission with the majority of customers crypto assets being stored offline. The platform employs two-factor authentication and users who want to log in need to enter a code that will be sent to them by email or text to help keep personal information secure.

Fees

There aren’t many fees to deal with at Nexo. The platform charges a fee for crypto purchases made with credit cards. For residents of the EU this fee is 1.49% while it is 3.49% for the residents of non-EU countries. Nexo also charges fees for the withdrawal of cryptocurrencies. The withdrawal fee varies depending on the digital coin being withdrawn. There are no exchange fees, deposit fees or loan origination fees at Nexo.

Voyager also doesn’t have many fees. There is a fee for withdrawing cryptocurrency which ranges from $10 to $20 depending on the digital coin being withdrawn. No fees for buying, selling or trading cryptocurrencies are charged.

Ease of Use

Nexo is an easy platform to use. To open an account, users only need to provide an email address and password. To use their services, it is necessary to provide some personal information and go through a KYC verification process which will take only a few minutes. The Nexo web platform is easy to use and beginners should have no difficulties finding their way around.

Voyager is only available via their mobile app which will need to be downloaded in order to register and open an account. Registration is easy and the app walks you through the process which will include verification of personal information for KYC and anti-money laundering purposes. The mobile app is easy to use even for beginners but it would be nice if a desktop version was offered.

Mobile App

Nexo offers a mobile app for iOS and Android devices. The app is easy to use and users will be able to do anything on the app that they can do from a desktop. The app can be downloaded from the Android Google Play Store or from the Apple App Store.

As previously mentioned, Voyager can only be accessed via its mobile app which is available for iOS and Android devices. The app can be downloaded from Google Play or the Apple App Store.

Access

Nexo is available in most countries with only a few exceptions. The countries where Nexo services aren’t offered are Syria, North Korea, Bulgaria, Cuba, The Central African Republic, Iran, Estonia and the U.S. states of New York and Vermont.

Voyager was available to residents of the U.S. with the exception of the state of New York. Services were also offered to residents of U.S Territories including American Samoa, Guam, the U.S Virgin Islands, Northern Mariana Islands and Puerto Rico. However, operations are currently suspended and transactions are paused at this time. Voyager has filed for Chapter 11 Bankruptcy.

Wallets

Nexo offer custodial wallets which allow users to manage their digital assets on Nexo from one place although the assets may be in different locations. Information is displayed in a format that is easy to understand so that users can easily manage their assets at Nexo.

Voyager provides a custodial wallet for users in its app which allows them to store their crypto assets on the platform.

Nexo Pros & Cons

Nexo Pros:

• Competitive interest rates
• Fast loan approval with no credit checks
• Large number of cryptocurrencies accepted as collateral

Nexo Cons

• Must own NEXO to get the best interest rates on loans and deposits

Voyager Pros & Cons

Voyager Pros:

• No trading fees
• Supports over 100 cryptocurrencies
• Earn interest on 39 different cryptocurrencies

Voyager Cons:

• Filed for Chapter 11 Bankruptcy. All trading, deposits, withdrawals and loyalty awards are currently suspended

Conclusion

Although Voyager supports more cryptocurrencies on their exchange than Nexo, this is the only area where they have the advantage. Nexo offers crypto backed loans which Voyager doesn’t and the rates on interest earning accounts are higher at Nexo. Nexo is the overall better choice and would have been even prior to Voyager filing bankruptcy.