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Abstract Rapid earthquake magnitude estimation from real-time space-based geodetic observation streams provides an opportunity to mitigate the impact of large and potentially damaging earthquakes by issuing low-latency warnings prior to any significant and destructive shaking. Geodetic contributions to earthquake characterization and rapid magnitude estimation have evolved in the last 20 yr, from post-processed seismic waveforms to, more recently, improved capacity of regional geodetic networks enabled real-time Global Navigation Satellite System seismology using precise point positioning (PPP) displacement estimates. In addition, empirical scaling laws relating earthquake magnitude to peak ground displacement (PGD) at a given hypocentral distance have proven effective in rapid earthquake magnitude estimation, with an emphasis on performance in earthquakes larger than ∼Mw 6.5 in which near-field seismometers generally saturate. Although the primary geodetic contributions to date in earthquake early warning have focused on the use of 3D position estimates and displacements, concurrent efforts in time-differenced carrier phase (TDCP)-derived velocity estimates also have demonstrated that this methodology has utility, including similarly derived empirical scaling relationships. This study builds upon previous efforts in quantifying the ambient noise of three-component ground-displacement and ground-velocity estimates. We relate these noise thresholds to expected signals based on published scaling laws. Finally, we compare the performance of PPP-derived PGD to TDCP-derived peak ground velocity (PGV), given several rich event datasets. Our results indicate that TDCP-PGV is more likely than PPP-PGD to detect intermediate magnitude (∼Mw 5.0–6.0) earthquakes, albeit with greater magnitude estimate uncertainty and across smaller epicentral distances. We conclude that the computationally lightweight TDCP-derived PGV magnitude estimation is complementary to PPP-derived PGD magnitude estimates, which could be produced at the network edge at high rates and with increased sensitivity to ground motion than current PPP estimates.