What is vgx coin used for?

VGX is an Ethereum token that's used to reward and incentivize use of the Voyager centralized exchange. On Voyager, VGX holders can earn staking rewards, receive cashback on trades, and more.

The Voyager Token system is unique in that it incorporates an automated brokerage service. This protocol automatically scans across a variety of popular CEXs to find the best rates for traders. Voyager Token users save on fees for buying, selling, trading, and investing.

One of the primary concerns that developers wanted to alleviate was new investor confusion. Investor onboarding is the first step to bringing new users into the decentralized economy. The developers tackled this problem through a combination of features. For one, the network has an easy-to-use interface that improves accessibility for all.

Another major issue faced by investors that Voyager attempts to rectify is a lack of regulatory support. The Voyager Token platform operates as a U.S.-based and U.S.-regulated, publicly-traded company. As such, the network has access to a variety of broker protections which makes it ideal for use by investment firms seeking to offer cryptocurrencies to clients.

The Voyager Exchange provides traders with a viable alternative to large platforms like Coinbase and Binance. These networks have grown to the point where they represent centralized chokepoints in the market. They also have used their size to keep the market rates at a certain level to ensure profitability.

Voyager users enjoy commission-free trades and more options. Additionally, the network integrates community governance. As such, it provides a more transparent and democratic option to traders to consider.

Market centralization has led to a steady increase in trading fees over the last couple of years. The Voyager Dapp provides a secure trading environment with reduced fees compared to the competition. Notably, there is zero commission fees for trades using the Voyager App.

There are a variety of benefits that makes the Voyager Token a smart choice. For one, the protocol's simple user interface helps users better manage their crypto investments across multiple platforms. Users can easily access, monitor, and control multiple accounts on different exchanges.

There are a couple of different ways to secure rewards using the Voyager Token. You can stake these tokens using the network's DeFi features. You can also generate interest using the Voyager app. Both of these strategies enable traders to secure rewards without losing ownership of their digital assets.

Voyager Token users gain the added benefit of Cashback on all of their trades. This system helps to improve liquidity by incentivizing users to participate in the market. When combined with the network's other rewards, it's easy to see how the Voyager Token builds wealth for users.

Traders have an excellent selection of cryptocurrencies to trade using the Voyager Token network. The platform supports +60 cryptocurrencies. Additionally, traders have some flexibility as to how to load their accounts which improves the onboarding process further.

Another major advantage gained by Voyager Token exchange users is access to FDIC-insured fiat accounts. Like your local bank, $250,000 USD held in your Voyager account is fully insured. To accomplish this task, the network partnered with other banking firms.

The Voyager token leverages purpose-built smart contracts and a custom blockchain to connect users to different cryptocurrency exchanges and markets. The system improves trade execution, reduces costs, and improves user profitability by automating price searching.

The VGX chain is the underlying technology supporting the network. This advanced fourth-generation blockchain was designed to improve on some of Ethereum's inefficiencies. As such, it's faster and costs less to operate.

The Voyager Dapp is the primary way in which users interact with the network. Notably, this Dapp provides a clean dashboard that was designed to improve the user experience. Notably, the platform generates interest for VGX users. Unlike the competition, Voyager enables traders to earn compound interest on over 30 available cryptocurrencies.

The Voyager Debit Card is a game-changer. The card can be used anywhere that accepts MasterCard. As such, it streamlines the entire cryptocurrency process by making it simple to spend your tokens like fiat. All Voyager cardholders earn up to 9% rewards in cashback. Interestingly, the card requires you to convert your funding to the USDC stable coin to be eligible for use.

The Voyager Smart Order Routing system connects users to crypto exchanges in a seamless manner. The system scans 12 supported exchanges to discover the best rates and routes. This feature is a huge plus for traders. It saves them both time and money.

As part of its hybrid approach to crypto trading, Voyager Token holders can stake their coins. Staking enables anyone to earn low-risk rewards. Impressively, Voyager Token holders can earn 12% interest staking on the network. This rate is much higher than other centralized exchanges like Coinbase.

The VGX token launched as an ERC-20 compatible token. The network converted these tokens over to the Voyager chain as part of its latest upgrade. This change added features such as staking and a loyalty program. Wisely, the developers have capped the supply of VGX at 222,295,208 tokens which should help to build value over time.

The Voyager Token project entered the market in 2018 as a crypto brokerage firm. The platform was founded by Steve Ehrlich and Oscar Salazar. Notably, the developers combined aspects from the ETHOS token and Voyager to create the Voyager Token (VGX). The firm recently introduced the VGX 2.0 token following the launch of the Voyager Chain.

Voyager Token (VGX) is available on the following exchanges:

Binance – Best for Australia, Singapore, UK and most of the world (Excluding Canada). USA residents are prohibited from buying Voyager Token (VGX). Use Discount Code: EE59L0QP for 10% cashback off all trading fees.

WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality.  It is the best exchange for residents of India.

The VGX crypto price forecast is based on past prices and predictive data modeling algorithms. No Voyager token forecast can be 100% true due to volatility in the crypto market. Investment advice and predicted future price are always tentative. It is impossible to perfectly predict the Voyager token’s price projection for the upcoming years with the average price displayed along with valuations and intrinsic values.

But Voyager price predictions serve as a tool that can help improve the decision-making process. Regardless, adhering to proper risk management is always good. This is not financial advice, and any profitable investment system directly depends on various factors like risk exposure or price changes. Traders and investors should do their own research before using any type of forecast system. After analyzing historical data, the Voyager token price forecast for a few years is as follows:

Bankrupt crypto exchange platform Voyager was once a prominent name in the industry. Its native cryptocurrency, VGX, surged tenfold in the first six months after launch.

The voyager (VGX) token benefited from the 2021 crypto  boom, but was hit by the market downturn in 2022. After filing for bankruptcy in July, there are rumours of a takeover. Will the likes of Binance or any other big crypto player be able to save the struggling company?

In this article, we take a look at what is voyager crypto, the latest bankruptcy and takeover news, and how analysts view VGX.

Voyager is an American cryptocurrency platform that was founded in 2017 by a team of finance and technology industry veterans, including Stephen Ehrlich, the company’s CEO, Philip Eytan, Voyager’s chairman, and Gaspard de Dreuzy, a figure involved in several other tech companies.

The firm is dedicated to empowering and servicing investors in what it calls “the most exciting asset class to date – crypto”.

“Our mission is to provide every investor with a trusted and secure access point to crypto asset trading. We offer best-in-class customer service, incomparable access to the most popular assets and commission-free trading,” the company states.

Voyager is a publicly traded company. Since 2021, it's been listed on the Toronto Stock Exchange (TSX) under the ticker VOYG.

The platform offers more than 100 digital assets to buy through its mobile application, and earn rewards up to 12% annually on more than 40 cryptocurrencies.

The company launched its own cryptocurrency, the Voyager Token (VGX). What is VGX? In essence, the VGX token is designed to reward Voyager customers for their loyalty.

The token was based on the Ethos Token, which was launched in 2017. In 2019, Voyager acquired Ethos.io and incorporated its team, technology and native token into the ecosystem.

Before 2020, the platform operated with a multi-token functionality. In 2020 Voyager integrated its native tokens into a new single token model known as VGX 2.0. The VGX coin maintains a presence on the Ethereum blockchain as an ERC-20 cryptocurrency.

According to the project’s whitepaper, Voyager utilises the VGX 2.0 token to boost the platform’s adoption and functionality.

Holding the VGX coin allowed users to earn 7% staking rewards and boost their earnings by joining the Voyager Loyalty Program.

According to CoinMarketCap, VGX token’s maximum supply is just over 279 million.

The VGX token was met with enthusiasm, boosting the price to an all-time high of $11.02 just six months after the launch in 2017. The bullish run was short-lived, and the price fell by 96.7% to $0.3678 by August 2018.

The voyager coin price remained flat, trading between $0.30 and $0.06 until January 2021, when it gained some momentum.

Between January and February 2021, VGX surged 3,267% to $6.9023. Around this time, the Uniswap (UNI) token became available on the Voyager platform.

The VGX coin peaked once again in March 2021, reaching $6.9704 following the brokerage’s announcement on new annual percentage rates (APR). In addition, three new major cryptocurrencies were added to the Voyager Interest Program, including decentraland (MANA), dogecoin (DOGE) and uniswap (UNI).

In November 2021, the voyager coin surged to $5 amid positive crypto market sentiment. However, that was the token’s last peak as it embarked on a bearish run. Since the November high, VGX has lost more than 75% of its value, dropping to $1.05, as of 8 September.

The coin had a market capitalisation surpassing $247m and was the 122nd biggest cryptocurrency, according to CoinMarketCap. At the time of writing (8 September), over 278 million of the tokens were in circulation, which amounts to 99% of the maximum supply.

Voyager was also not left behind in the global crypto crash, and had filed for bankruptcy protection in July 2021 shortly after announcing that it was suspending all trading, deposits, withdrawals and loyalty rewards for its customers.

On 27 June, the company issued a notice that one of its clients, the now also bankrupt crypto hedge fund Three Arrows Capital owed the company 15,250 BTC tokens and $350m in USDC.

Despite news of the company’s bankruptcy, the VGX token rose, jumping from $0.10 on 11 July to $0.59 two days later.

Voyager was contacted by 88 potentially interested buyers interested in taking over the company. It was in “active discussions” with 20 of them. In July, FTX US, Alameda and West Realm Shires offered to buy out Voyager. The company called their offer “a low-ball bid dressed up as a white knight rescue”, according to court documents.

In a second-day hearing presentation on August 4, the company stated that it received “higher and better” buyout offers. But nothing was agreed, as of 8 September.

Amid the takeover news, the voyager token price saw several small boosts. The token rose by around 290% between 11 and 13 July, from $0.1532 to $0.593. At the end of August the token regained momentum yet again, spiking to $0.6924 on 26 August and surpassing the $1 level in early September.

Invezz analyst Crisous Nyaga told Capital.com that the VGX token has outperformed due to rumours that the company will be acquired by either Binance or FTX, noting:

“Rumours of a buyout have incentivised traders to buy hoping that Voyager will continue operating as a going concern. If this happens, these staking rewards and cashback returns will be resumed.”

Nyaga noted that VGX was also possibly boosted by rising demand for “cryptocurrency fallen angels”, like Terra’s (LUNA), Terra Classic USD and Celsius’ CEL.

Dr Pooja Lekhi, Professor of Finance at University Canada West, noted that the VGX price has outperformed many cryptocurrencies, like bitcoin (BTC) and ethereum (ETH).

The Voyager Sale Hearing is due to take place on September 8.

As takeover rumours mount and hearings approach, the coin’s future could depend on the bankruptcy proceedings, according to Invezz’s Nyaga.

Note that analysts’ views on the VGX token can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence. And never  trade money you cannot afford to lose.