Last week, I used the Voyager app to buy crypto using Instant Deposit from my bank account. I've bought Bitcoin (BTC) many times and withdrawn it to pay someone. Even though their trading price is unfavorable (that's how they make their money with "no fee" trading). The convenience surpasses even Coinbase Pro where they offer "Instant Deposit" but you can't withdraw fiat nor purchased crypto outside of Coinbase due to "security reasons". Anyway, I purchased $1,000 worth of DOGE after an Instant Deposit from my bank. I tried to withdraw the DOGE, but annoyingly, they do not let you withdraw DOGE. For a minute, I thought I was on RobinHood where you can only trade crypto but never withdraw it.
So, after purchasing $1,000 worth of DOGE, I had to sell it back a minute later for $970.
I ended up buying $1,000 worth of BTC and moving it out of Voyager to pay someone.
It would be good if Voyager let you know before the buy that you can't withdraw it. The identity crisis is unappealing and they don't tell you visually that DOGE can't be withdrawn and you have to learn the hard way and lose $30 in the process.
Even with my complaining, I'm overall happy with Voyager, their mobile app, and customer service. Maybe it was a glitch, I don't know, but hopefully customer service can shed some more light on the matter.
Resources:
- Sign up for Voyager - the instant deposit feature actually is great. Compared to Coinbase Pro, you can actually move money out to pay someone in Crypto. I've done this with Voyager half a dozen times with BTC no problem.
- About Dogecoin - much wow
- Earn free DOGE using a faucet
- Join RobinHood and get a free stock like Apple, Ford, Facebook, etc for free.
