I am going to show the difference in purchasing power of $1,000 on Voyager, Coinbase, PayPal, SoFi, and MoonPay. The purpose of this article is to make the general crypto consumer aware of fees associated with each platform because I love transparency. I will not identify what the fees are, for I always encourage you to do your own research, but the result of this test will simply be the amount of Ethereum purchased in each transaction.
Here's the rules: the total instant purchase must equal $1,000. Each screenshot is taken simultaneously.
Let's look at the numbers...
Voyager gives you 0.28198 ETH as the ask price was $3,546.25 for Ethereum and there is no commission fee.
Coinbase gives you 0.27773879 ETH as the ask price was $3,547.65 for Ethereum and there was a $14.68 commission fee.
PayPal gives you 0.2777163 ETH as the ask price was $3,544.20 for Ethereum and there was a $17.68 commission fee.
SoFi gives you 0.2796 ETH as the ask price was $3,576.50 for Ethereum and there is no commission fee.
MoonPay gives you 0.2742 ETH as the ask price was $3,646.973 for Ethereum and there is no commission fee (Brave promo).Â
From these numbers, we can see some general trends. (1) Voyager has a low ask price, and since there are no commission fees, you get the MOST crypto for any purchase, (2) PayPal has the lowest ask price, but the highest commission fee, (3) MoonPay has the highest ask price, and (4) commission fees really take away a lot of your digital assets from your personal wallet. The best combination is a platform that thinks about the customer first while still maintaining profits. Stock brokers have "fee free" trading, and so should cryptocurrency.
Let's also go one step further...
Ethereum is projected to get to $10k this bull run cycle (some project to $20k too). Here are the profits from this one purchase alone at the various prices. You can easily see how small fees can become big losses in potential profits in the long run. For example, paying a $14.68 fee on Coinbase costs you $42.41 at a $10k Ethereum value (and $84.82 loss at $20k!!).
Final statement: I am not saying don't use Coinbase or PayPal or MoonPay, for these platforms allow you to purchase digital assets that are not on Voyager yet, and you as the customer can choose the platform you are most comfortable with. But if you want to trust a publicly traded company with industry leading security and get the MOST for each purchase, my recommendation is buy Ethereum on Voyager.
My referral link for Voyager is:Â https://voyager.onelink.me/WNly/referral?af_sub5=D8718B. If you download the app with this link (or use code D8718B) and trade $100, you will get $25 of free Bitcoin added to your account.Â
Important claims: I am not a financial advisor, this is just data I am presenting from the internet as my reason for using Voyager. Please do your own research before you invest any money. Crypto currency is not FDIC insured. I am a $VYGVF shareholder. I own an air fryer.
I encourage you to check your own apps and compare. I welcome constructive comments, and please follow me on Twitter!!
