Both BlockFi and traveler are platforms for cryptocurrency management that enable users to trade and gain interest in crypto assets. each platform vies the neck to neck in this field with their totally different edges and services. though the aim of both the platforms is the same, there are quite a few variations within the means they work and supply management services to their users, that place them apart.
BlockFi vs Voyager
The main distinction between BlockFi and traveler is that BlockFi may be a private hand company that doesn't publish reports and it depends on Gemini, whereas traveler is a public-owned company that trades beneath traveler Digital Ltd (VYGVF). These platforms are different in several alternative aspects considering the various parameters of operating strategies.
BlockFi is a crypto management platform that allows its users to buy, sell or exchange their cryptocurrencies. the most 3 product offerings on BlockFi are BlockFi interest account, commercialism account, and crypto-backed loans. It does not charge any fee and provides fully commission-free trading services to any or all its users.
traveler is another cryptocurrency investment, a free mobile app that's offered for each IOS and android. It permits the users to trade cryptocurrencies and earn profit with no lockups or limits. It supports over fifty digital currencies, and it plans to additional add more currencies in the future.
What is BlockFi?
BlockFi could be a digital currency management platform that gives the trade of cryptocurrencies to all or any of its users. It helps the users gain a profit interest of up to 8.6% annually. The platform contains 3 main product offerings, that are the BlockFi interest account, mercantilism account, and crypto-backed loans. BlockFi interest account helps the users to grow their cryptocurrency holdings.
All the users need to do is deposit their crypto in their BlockFi interest account. The rate for Stablecoins assets is up to 8.60% on USD Coin, Tether (USDT), and Gemini Dollar (GUSD). For Bitcoin, it's 5% on up to 0.5 BTC, 2% on the quantity over 0.5 BTC, and up to twenty BTC, and 0.5% on 20 BTC and above. Lastly, for Ethereum, it's 4.5% on up to fifteen Ether, 2% on up to one thousand ETH, and 0.5�over it.
The mercantilism account permits its users to trade their crypto assets within the BlockFi platform. The third and therefore the last are crypto-backed loans which offer the service of borrowing USD within the checking account victimization 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 mercantilism to its users. This platform strictly follows U.S rules and regulations. although it's a private closely-held company, it works in ties with sensible acknowledged monetary institutions.
What is Voyager?
Voyager is additionally a digital currency management mobile application that permits} its users to trade crypto and earn profits. It allows the users to earn interest within the crypto in its app. it's very straightforward to use and smoothens the method. The traveler app includes a feature that helps the users to realize some info concerning the crypto market before the user lands on any investments or commercialism process.
The sign-up process on the app is incredibly simple, and therefore the user will begin trading simply in a very few minutes, and that they also receive a quantity of $25 in bitcoins as a bonus. traveler supports a massive variety of coins and tokens. It doesn't charge any commission or fee for any trade activity. traveler provides premium transparency because it uses a 2-factor authentication (2-FA) system. This makes the account safe and fully secure from any discrepancy so nobody nevertheless the user will ever have access to their accounts. It focuses on the user’s protection from fraud and hackers.
Secure funds stay the highest priority for any crypto investor, and therefore, traveler stands at the frontline in this field. Users forever have their cryptocurrencies at their fingertips on the app.
Main Differences Between BlockFi and Voyager
1. BlockFi permits the users to receive USD to their checking account mistreatment crypto assets as collateral, and {also the} user may be allowed to borrow up to 50% of the crypto, whereas traveler doesn't give the power of crypto-backed loans to its users.
2. additionally to the final services, BlockFi also provides 5% yields on gold-backed stablecoins, also referred to as PAXG, whereas currently, traveler neither supports PAGX nor provides any yields on it.
3. The signup bonus on Blockfi is a bit less than the signup bonus on Voyager. The signup bonus on BlockFi is $20, whereas the signup bonus on travelers is slightly higher, that is $25 in Bitcoins.
4. BlockFi offers various totally different channels to its users who request client support for any of their issues like facilitating center, phone call, price tag submission, email, and others, whereas the customer support mediums provided by travelers are restricted to emails and in-app messaging.
5. BlockFi may be a camera-owned company, whereas traveler is a publically owned company.
Conclusion
The cryptocurrency industry is rapidly growing and attracting a huge population to invest in digital currency. As the crypto market gains the 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. Both BlockFi and Voyager are undoubtedly offering the best services to their users.
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. Considering all the factors, it all depends on the user’s requirements and goals on whose basis different platforms are useful for different individuals.
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