Voyager

Voyager
UPDATE: Currently in litigation.

Voyaget filled for chapter 11 bankruptcy on July 5th and will continue to operate as a business while they formulate their "restructuring plan" during the next 120 days. Here is a link to an article that breaks everything down in an easy, more digestible way. https://www.defipulse.com/blog/voyager-digital-filed-for-chapter-11-bankruptcy

Pros:

  • As I mentioned, it really is a good exchange. 
  • The user interface and experience as a phone app is very easy to use and navigate.
  • They add token/coins all the time
  • Dedicated team growing more and more to manage customer issues.
  • As mentioned on their site: "Through our strategic relationships with our banking partners, all customers' USD held with Voyager is FDIC insured. That means that in the rare event your USD funds are compromised due to our banking partner's failure, you are guaranteed a full reimbursement (up to $250,000)."

Cons: (it's important to note, the CEO of Voyager presented a time frame in which most of the following issues would be addressed. Also important to note the willingness for the CEO to actually come out to speak to the community himself. Very cool)

  • As I mentioned above, growing pains..
  • For some it was instant. For me, the KYC (application) process took almost 2 months.
  • on two separate occasions, I've had to wait 7 full days to withdrawal funds.
  • I never received an email reply from a real person. Always automated.

These issues have been addressed I heard earlier today on a podcast. All issues that may have been prevented with more employees. Something that's also been addressed. They experienced an influx of users no one expected. This caught the exchange off guard. Assuming all issues have been addressed, I wholeheartedly recommend them again.

Conclusion: I have little to say about this exchange at the moment specifically because we will not hype any exchange without rigorous usage. The little I have used the exchange, minus the above issues that have since been addressed they say, I have to admit that I enjoyed the experience. Please be aware that some cryptocurrencies can not be withdrawn from Voyager. They must be converted back into fiat (USD) before any withdrawal of value. Not all but some. Please verify first before buying if you plan to withdrawal crypto.

Bankruptcy updates and source: Voyager Digital Files Chapter 11 Bankruptcy | Department of Financial Regulation (vermont.gov)