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Why does Voyager pay 9% on USDC?

Voyager is paying 9% on USDC as “marketing spend” with revenue that is generated from trading. In effect, it is a high teaser rate to incentivize people to sign up and build a network effect of using the platform. Mastercard has partnered with Voyager to make USDC spendable in the form of a debit card.

Similarly, Is USDC a good investment? USDC is a great option for traditional investors looking for a low-beta investment that can generate returns better than CDs. This low-beta investment can also reduce the portfolio’s overall risk which can help match the portfolio’s risk profile with the investor’s risk appetite.

Then, Is Voyager better than Coinbase?

Voyager is best for mobile-forward crypto traders who want access to a simple user interface, low fees, and multiple account funding options. While it doesn’t offer as many features and products as Coinbase, it’s arguably better for staking since it allows you to earn up to 12% interest (Coinbase only allows up to 5%).

And Is staking on Voyager safe? Is your cryptocurrency safe with Voyager? Voyager is a U.S.-based and U.S.-regulated, publicly traded company. Up to $250,000 USD held in your Voyager account is FDIC-insured through partner banks.

Is Voyager a stablecoin? USD Coin (or USDC) is a stablecoin priced to the US dollar, effectively a “digital dollar” trackable and traceable on the blockchain.

What’s the point of USD Coin?

USDC is an alternative to other USD backed cryptocurrencies like Tether (USDT) or TrueUSD (TUSD). In a nutshell, USD Coin is a service to tokenize US dollars and facilitate their use over the internet and public blockchains. Besides, USDC tokens can be changed back to USD at any time.

Why is USD Coin stable?

USD Coin is a fiat-collateralized stablecoin, meaning that USDC tokens are collateralized by fiat money like U.S. dollars. Other types of stablecoins include those that are collateralized by a cryptocurrency, or an algorithm, or by hybrid approach.

Do you pay taxes on USDC?

EX: USDC to USD is a taxable transaction based on the difference between the value of the USDC when purchased and the value when it was sold. Trading a stablecoin for a cryptocurrency is a TAXABLE transaction (capital loss or gain) and would appear on the 8949.

Does Voyager report to IRS?

Does Voyager report to the IRS? Yes, Voyager may report to the IRS when requested to ensure tax compliance. According to Voyager’s privacy policy, the platform has the right to provide customer data to law enforcement if necessary.

Does Coinbase own Voyager?

Between Voyager and the standard Coinbase platform, Voyager is less expensive for trading but tends to have higher withdrawal fees. Voyager is commission free. It doesn’t charge crypto trading fees, but it does charge a spread fee.

Up to $205: $2.99.

Crypto exchange Fee on $1,000 Bitcoin purchase
Coinbase Pro $5.00

Does Voyager have staking?

Voyager now supports staking for 11 coins, and Ehrlich noted that the company is working to offer staking on Avalanche (AVAX). The firm continues to target a minimum of $40 million in yield and staking revenue per quarter. Voyager has also hired a team to develop its NFT (non-fungible token) strategy.

Is it safe to leave crypto on Voyager?

Yes, it is safe to keep money in the Voyager. It is a US-based, genuinely licensed company that uses advanced technology to prevent hackers from coming after customers’ digital assets.

Is Voyager good for crypto?

Although they have some differences, Voyager and Coinbase are two excellent options for cryptocurrency investing. They each offer a wide range of cryptos and intuitive platforms. The best part about Voyager is its Voyager Earn Program. With the interest rates it offers, you can quickly grow your crypto holdings.

Do you own the crypto on Voyager?

Voyager offers a custodial wallet, which means Voyager has the private keys and control of those crypto funds. Some investors prefer non-custodial wallets so that they have full control of their holdings. If you’d prefer this, you can withdraw crypto from Voyager to an external wallet.

Can I direct deposit to Voyager?

You can see your personal deposit limit listed within the app on the USD page. New users have a daily deposit limit of $5,000 and an instant deposit limit of $10,000. Limit increases can be requested by opening a customer support ticket.

Is USDC a CBDC?

USDC is issued by a private entity and should not be confused with a central bank digital currency (CBDC).

Will USD Coin go up?

USD Coin is predicted to start in June 2022 at $1.005 and finish the month at $1.277. During June, the maximum forecasted USDC price is $1.256 and the minimum price is $0.85432444694975.

Is USDC safe for savings?

Earning interest on USDC can be a great option to begin earning interest on crypto assets. Interest rates are much higher than those of typical saving accounts, giving investors much higher returns. However, risks of hacking and insurance pose a threat to your investment, so it is not entirely secure.

Who owns tether?

Tether (often called by its symbol USDT) is a cryptocurrency that is hosted on the Ethereum and Bitcoin blockchains, among others. Its tokens are issued by the Hong Kong company Tether Limited , which in turn is controlled by the owners of Bitfinex.

Tether (cryptocurrency)

Tether
Valuation
Market cap $80.46 billion

Is USDC on Ethereum?

USDC is hosted on Ethereum.

Is USDC considered crypto?

USD Coin (USDC) is a type of cryptocurrency that is referred to as a stablecoin. You can always redeem 1 USD Coin for US$1.00, giving it a stable price.

Is selling BTC for USDC taxable?

For tax and regulatory purposes, the IRS treats all cryptocurrency as intangible property subject to capital gains tax.

Is selling Gusd a taxable event?

Paying for goods and services in stablecoin is a taxable event because the IRS treats it like a sale or exchange of an asset, which is subject to capital gains tax.

Does TurboTax work with Voyager?

Voyager customers will be able to use the CoinLedger platform as early as Fiscal Year 2021 to import their cryptocurrency transactions and obtain reports on capital gains, losses, and income. These reports can be imported into tax filing software such as TurboTax or sent to tax professionals to facilitate tax filing.

Does Voyager have Taxforms?

Through Voyager x CoinLedger, you can download several different tax forms, including your Crypto Income Report, and use this for your tax filing.

What happens if you don’t report cryptocurrency on taxes?

If you don’t report taxable crypto activity and face an IRS audit, you may incur interest, penalties or even criminal charges. It may be considered tax evasion or fraud, said David Canedo, a Milwaukee-based CPA and tax specialist product manager at Accointing, a crypto tracking and tax reporting tool.

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