{"id":23767,"date":"2023-08-13T11:07:39","date_gmt":"2023-08-13T15:07:39","guid":{"rendered":"https:\/\/coincentral.com\/?p=22083"},"modified":"2023-09-29T16:20:32","modified_gmt":"2023-09-29T20:20:32","slug":"celsius-vs-voyager-2","status":"publish","type":"post","link":"https:\/\/coincentral.com\/celsius-vs-voyager-2\/","title":{"rendered":"Celsius vs. Voyager: Crypto Interest Account Apps Review"},"content":{"rendered":"

Celsius vs. Voyager was a comparison often made by people looking for a cryptocurrency interest account. <\/span>Both Celsius and Voyager allowed users to earn interest on their idle cryptocurrency assets, but<\/span> both Celsius Network and Voyager declared bankruptcy in July 2022 after pausing user withdrawals.\u00a0<\/strong><\/p>\n

Founded in 2017, <\/span>Celsius Network<\/span><\/a> was considered one of the \u201cblue chip\u201d cryptocurrency borrowing and lending platforms. Founder and CEO Alex Mashinsky claimed to have created Celsius to democratize the lending landscape and allow users to earn interest on their deposited cryptocurrency, or borrow money by placing their crypto as collateral.\u00a0<\/span><\/p>\n

Voyager Invest<\/span><\/a> started as a cryptocurrency exchange; Voyager Invest Ltd. is a publicly traded company, which was a rarity among cryptocurrency interest accounts. The platform also allowed users to earn interest on their digital assets.\u00a0<\/span><\/p>\n

The following Celsius vs. Voyager review goes through the nitty-gritty of each unique business model, and the pros and cons of each option.\u00a0<\/span><\/p>\n

Celsius vs Voyager: Key Information<\/span><\/h2>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\nCelsius<\/strong><\/td>\nVoyager<\/strong><\/td>\n<\/tr>\n
Reviews<\/span><\/td>\nCelsius Network Review<\/span><\/a><\/td>\nVoyager Invest Review<\/span><\/a>\u00a0<\/span><\/td>\n<\/tr>\n
Site Type<\/span><\/td>\nCrypto lending app with borrowing and lending<\/span><\/td>\nCrypto exchange + crypto interest account<\/span><\/td>\n<\/tr>\n
Beginner Friendly<\/span><\/td>\nYes<\/span><\/td>\nYes<\/span><\/td>\n<\/tr>\n
Mobile App<\/span><\/td>\nYes<\/span><\/td>\nYes<\/span><\/td>\n<\/tr>\n
Buy\/Deposit Methods<\/span><\/td>\nCrypto deposits, debit card, bank transfer<\/span><\/td>\nDebit card, credit card, bank wire, external crypto transfer<\/span><\/td>\n<\/tr>\n
Sell\/Withdrawal Methods<\/span><\/td>\nExternal crypto wallet transfer<\/span><\/td>\nExternal crypto wallet transfer<\/span><\/td>\n<\/tr>\n
Available Cryptocurrencies<\/span><\/td>\nBitcoin, Ethereum, Link, and several others<\/span><\/td>\nBitcoin, Ethereum, Litecoin, and around 60 others<\/span><\/td>\n<\/tr>\n
Company Launch<\/span><\/td>\n2017<\/span><\/td>\n2017<\/span><\/td>\n<\/tr>\n
Location<\/span><\/td>\nNew York City, New York<\/span><\/td>\nJersey City, New Jersey, United States<\/span><\/td>\n<\/tr>\n
Community Trust<\/span><\/td>\nTerrible<\/span><\/td>\nTerrible<\/span><\/td>\n<\/tr>\n
Security<\/span><\/td>\nGood<\/span><\/td>\nUnclear<\/span><\/td>\n<\/tr>\n
Customer Support<\/span><\/td>\nGreat<\/span><\/td>\nOkay<\/span><\/td>\n<\/tr>\n
Verification Required (KYC)<\/span><\/td>\nYes<\/span><\/td>\nYes<\/span><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Company Bios: Celsius vs. Voyager<\/span><\/h2>\n

Alex Mashinsky and Daniel Leon created <\/span>Celsius<\/span> in 2017 and raised approximately $100 million through private funding rounds.\u00a0<\/span>Celsius managed about $16 billion in community assets and had around 850,000 users.<\/span><\/p>\n

Voyager was also launched in 2017. It was founded by Gaspard de Dreuzy, Oscar Salazar, Philip Eytan, Serge Kreiker, and Stephen Ehrlich.\u00a0 <\/span>The company has raised <\/span>just over $100 million<\/span><\/a> in private funding. <\/span>Voyager IPOd on <\/span>February 11th, 2019 on the Canadian Stock Exchange.<\/span><\/a>\u00a0<\/span><\/p>\n

Both companies declared bankruptcy in July 2022 after pausing customer withdrawals due to unrelated events:<\/p>\n

Voyager issued a non-collateralized $675M loan to Three Arrows Capital, which went under.<\/p>\n

Celsius found itself in severely illiquid positions with tanking DeFi prices, and was found to have grotesquely mismanaged user funds.<\/p>\n

Feature #1: Interest Rates: Who Had Higher APY, Celsius or Voyager?<\/span><\/h2>\n

Rate changes:<\/b> Celsius changed its interest rates every week, and Voyager changed its rates every month.\u00a0<\/span><\/p>\n

Bitcoin:<\/span><\/strong><\/p>\n