Trading coins from your smartphone is nothing short of problematic. A smartphone is a hackable, portable, lose-able device that almost guarantees the eventuality of losing your cryptocurrency. Still, some people choose to do it, and while it doesn’t make sense from a security perspective, it might be in someone’s interest to sacrifice security for ease of use.
In that case, this one’s for you:
Licensed crypto-asset broker, Voyager Digital (VYGR.C) announced that it’s completed the acquisition of VYGR Digital Securities, a placement agent for digital securities for the Voyager platform, today.
The platform was created as a turnkey solution for crypto trading, offering non-commission based trading, as well as safe custody and education on a wide range of cryptocurrencies. This addition widens its scope, which can make it attractive to would-be crypto-enthusiasts.
“Favorable regulatory trends and improving digital asset technologies continue to drive the global crypto market’s rapid growth. We believe building out a mainstream capital market infrastructure is a critical step to be a leader in this market. Having this registered broker-dealer in-house is the latest step toward making Voyager the premier service provider in this space,” said Stephen Ehrlich, co-founder and CEO of Voyager.
Voyager Digital is a crypto-asset broker servicing both retail and institutional investors with a turnkey solution to trade crypto-assets. It was founded by established Wall Street and Silicon Valley entrepreneurs who sought a more transparent and cost-efficient alternative for trading cryptocurrencies in the marketplace. Its licensed in every state but New York, and is in licensing process there.
This acquisition is the latest in a series of milestones for the company. In December, Voyager announced a partnership with Optional Hotline, a publishing company that offers trade ideas from options professionals in real-time to subscribers and third party contributors through an in-house trade alert service. The company has also formed six API distribution partnerships with Avant-Garde Trading Securities, RoundlyX (Coin Savage, LLC), Market Rebellion, LLC, Sterling Trade Tech, Tiger Trading and Stocktracker.
What’s particularly interesting, though, is that the company’s recent expansion of it flagship crypto trading app, The Voyager App, to include Android phones and launched the Voyager Interest Program. The app gives customers interest on Bitcoin, Ethos, Bitcoin Cash, Litecoin and Ethereum held on the platform. This means that if you use the app to buy any of the above coins that they’ll accrue variable interest depending on the coin as they appreciate with time.
Here’s what the Voyager site says:
“With the Voyager Interest Program, you can actively trade Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and the Voyager Token and earn interest at the same time, with no lockups or limits! To participate, you must simply maintain the average balance required for each asset. Interest rates are calculated on an annual basis, and will be paid out at the end of each month in the interest-bearing asset.”
There’s no information on how or by what mechanism this is possible, but the suggestion remains. The company continues to use its Bedrock Platform to build out additional blockchain functionality and plans to add more coins to the Voyager App in 2020.
If you were going to trade cryptocurrency using a smartphone based application, then it would definitely be important to look for security options. In this case there are some. The company has brought in BitGo and Ledger Vault, two trusted names in cryptocurrency, and acquired insurance from the Federal Deposit Insurance Corporation for up to $250,000 in USD.
There’s your silver lining.