The aggressive panorama for commission-free cryptocurrency buying and selling within the US is heating up with Voyager, a startup backed by an Uber co-founder, at this time launching a cell software model of its buying and selling platform.
Dubbed ‘Voyager App,‘ the iOS software presents prospects in choose states the power to make no-fee trades on a minimum of 18 cryptocurrencies, together with Bitcoin, Ethereum and others. It additionally permits instantaneous account opening and funding in US greenback with a $10 minimal.
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The licensed crypto asset brokerage has opened the registration to prospects in Arizona, California, Illinois Kentucky Pennsylvania, Massachusetts, Missouri, Montana, and Wisconsin. Most importantly, they’ll have the ability to buy cryptocurrencies with out incurring fee expenses in an analogous sample to what inventory buying and selling app Robinhood at the moment presents.
Voyager’s app will trawl by means of a number of cryptocurrency exchanges and buying and selling venues to search out the perfect purchase and promote worth or that’s closest to the worth that had been provided to the consumer.
More competitors is coming
Cryptocurrencies are usually purchased and offered on exchanges the place prospects commerce them for fiat currencies or different cryptocurrencies. Clients pay charges to exchanges, and costs differ considerably between platforms.
Voyager is headed by Stephen Ehrlich, the previous CEO and founding father of retail brokerage Lightspeed Financial who additionally beforehand ran the skilled buying and selling arm of on-line inventory dealer E*Trade. The startup’s different co-founders embrace Philip Eytan, an early Uber investor, and Oscar Salazar, the previous chief know-how officer of the ride-hailing firm.
Earlier in September, Voyager has unveiled a brand new service platform targeted squarely on the institutional market, going up towards established gamers like Coinbase’s GDAX and Circle’s CircleTrade.
Commenting on the information, Voyager CEO Stephen Ehrlich mentioned: “Our imaginative and prescient to carry the crypto brokerage expertise consistent with what traders have come to anticipate from fairness markets is now a actuality. We knew there was a greater manner for traders to entry a cost-efficient and clear platform validated by our overwhelmingly optimistic suggestions and demand from traders who’re keen to begin utilizing our platform.”