7 Best Crypto Saving Accounts to Earn Up To 12% Bitcoin Interest by@dmitry.leijko

7 Best Crypto Saving Accounts to Earn Up To 12% Bitcoin Interest

June 2nd 2021 2,531 reads
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A cryptocurrency is a digital or virtual currency that uses encryption techniques to secure the network. Bitcoin came into inception in 2009, and the total market cap of all cryptocurrencies is now valued at $2 trillion. There are many opportunities in the cryptocurrency market now, and there is no late entry. BlockFi is the overall best bitcoin interest account right now. It is a safe and legitimate platform with a high-yield interest account and a generous welcome bonus. The following are the best crypto savings accounts to earn interest on your bitcoin and other crypto coins.
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Dmitry Leiko

Entrepreneur, product owner, SEO specialist, cryptocurrency enthusiast. All you need to know;) [email protected]

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A cryptocurrency is a digital or virtual currency that uses encryption techniques to secure the network. Unlike fiat currencies, they do not have the stress and bottlenecks that come with carrying paper money around. Also, they are completely decentralized and do not have any central controlling authority. Rather it’s a currency of the people by the people and for the people. 

The first cryptocurrency that was mined was Bitcoin. Bitcoin came into inception in 2009, and the total market cap of all cryptocurrencies is now valued at $2 trillion. The price of bitcoin has been on a bull run ever since. And those who invested in it early are now smiling at the bank. 

The good news is, there are many opportunities in the cryptocurrency market now, and there is no late entry. If you join the bandwagon today and make few right moves, you could also profit soon. Remember, the best time to plant a tree was 20 years ago, and the next best time is now. 

Gone are the days when the easiest means of making money off your bitcoin was through HODLING. Then, you have to buy bitcoin at a low selling price (dip), hold for a while, and take profit when the price increases ( pump). 

There are now much better ways to earn more from your cryptocurrency than by just holding. For example, you could leverage basic fundamental, sentimental, and technical analysis to make money in the short term. 

And if you’re too busy to trade, you could earn passively by depositing your token in a crypto savings account and earn simple or compound interest over time. If the idea of bitcoin interest piques your curiosity, then stick with me more. I will show you secure and reliable platforms to save your bitcoin in 2021. 

Please note that bitcoin interest is neither a myth nor a scam. Crypto banks brought about disruptive innovations like BlockFi to enable crypto holders to earn more from their crypto assets. All that is required is that you transfer your cryptocurrency to such platforms for safekeeping. Ultimately, they trade or lend the crypto out to borrowers, and you earn part of the interest they make on a loan.  

With lending websites, you have your assets saved, and you also earn interest on them. This should be good news to your ears. However, to enjoy this, you have to open a crypto interest account. And we will get to how to do that soon. 

After thorough research and testing, I discovered many bitcoin savings accounts and lending websites out there. And each of them has its standout features and unique perks. 

For example, you can invest for less than 24 hours on Nexo and earn decent bitcoin daily interest. Bitbond enables you to lend out your crypto assets. And you can also borrow crypto assets or even cash from them to sort any immediate needs. Celsius network offers low-cost loans without hidden fees. CoinLoan is, especially, safe and secure. 

According to my research, BlockFi is the overall best bitcoin interest account right now. It is a safe and legitimate platform with a high-yield interest account and a generous welcome bonus. 

I will show you the top bitcoin accounts for the rest of this post to earn interest from cryptocurrency. You will also discover other things you need to get started with bitcoin’s online investment. Keep reading!

Best Platforms to Earn Crypto Interest

The following are the best crypto savings accounts to earn interest on your bitcoin and other crypto coins in 2021

  1. BlockFi – Best Overall (up to $250 bonus through my link);
  2. Youholder – Best for High-volume Retail Investors/Institutions;
  3. Coinloan – Most secure;
  4. Celsius Network - Best for Beginners (promo code below);
  5. Nexo – Best Daily Interest;
  6. Bitbond - Most Reliable P2P Crypto Interest Account;
  7. Unchained Capital.

1. BlockFi - Best Way to Earn Crypto Interest


BlockFi was founded by  Flori Marquez and Zac Prince in August 2017 to help account holders make the most of their bitcoin and other cryptocurrencies. Since then, It has been regarded as one of the most reliable bitcoin banks to earn interest on bitcoin.

Promo code: no, the bonus has already been applied to the link above.

BlockFi is based in Jersey City, New Jersey, and currently has assets worth over $15 billion. It enjoys a large client base and has grown from 10,000 to over 250,000 users since it started operation.  

This platform appears first on our list because of its excellent product and services. Chief of its offering is the Bitcoin Interest Account (BIA) which enables you to earn as much as a 6% return when you store your bitcoin in its crypto savings account. 

People who do not have cryptocurrency are not left out of the party. Instead of depositing your fiat currency (USD, EUR, CAD, etc.) in a local bank account, you can easily convert it to a stable coin on the platform and earn about 8.6% annually. 

More than a bitcoin interest account, BlockFi also acts as a cryptocurrency lending website. The platform allows retail traders, institutions, and corporate organizations to borrow up to 50% of their initial deposit. Therefore, you do not have to sell or liquidate your bitcoin and other cryptocurrencies every time you’re cash-strapped. 

All you have to do is apply for a loan using your BlockFi account. You will be given a low-interest loan in USD if you have coins stored with them. 

Businesses and institutions can benefit from the opportunity by using the loan to either offset their debts (credit cards), fund payroll, or expand their business.

The interesting thing about BlockFi loans is that you can get them the same day to invest your crypto assets. 

Like traditional exchanges, you can also swap cryptocurrencies on BlockFi at a very competitive rate. There are no account minimums and hidden charges on BlockFi. The platform is very safe. They have over the years invested so much in a technology that secures your bitcoin and other cryptocurrencies.

BlockFi has a very solid foundation. And it also enjoys the support of big industry players like Fidelity, Arrows Capital, Morgan Creek Capital Management, etc. 

You can invest any amount of crypto with them. BlockFi pays your return when due. And to ensure that it doesn’t disappoint account holders, BlockFi keeps an appreciable portfolio of under-collateralized loans. They also custody part of their reserves on Gemini. Gemini is a third-party, fully regulated crypto exchange platform that is infamous for its legitimacy and transparency. 

BlockFi is the best cryptocurrency bank right now, and the future looks bright for them. In the next few years, they will be a full-time financial corporation - only that their services will be crypto-backed. 

Soon, you will obtain a reward credit card anytime you open an account and store coins on the platform. You can use a credit card to make a purchase and earn 1.5% of your bitcoin per transaction.



BlockFi offers great rates on crypto saving and lending. If you take a survey of all the crypto saving accounts, you will observe that their offer is one of the best around. 

With BlockFi, you can earn interest by depositing either a stable coin or cryptocurrency into a savings account. They pay 5% - 8.6%  for stable coins. However, only BlockFi users staying outside of the USA can deposit Stablecoins. Some of the stable coins available on BlockFi now include USDT, GUSD, BNB,  PAXG, etc.

BlockFi’s bitcoin interest account feature rates between 3.2% -6% when you store your bitcoin with them for a year. This value varies depending on the unit of bitcoin you invest. Generally, the more bitcoin you invest, the lower your return. The platform currently offers around 6% when you invest less than 2.5BTC and 3.2% on 2.5BTC and more. 

Thus, while waiting for your bitcoin price to rise to the moon, you can also earn passive income on them. 

Institutions and individuals are liable to only a 4.5% interest rate when they borrow funds. This rate is highly competitive compared to the average 8-12% offered by most other lending websites.

Annual Percentage Yield (APY)

When you place your funds in a fixed deposit or high-Interest traditional Savings accounts, you are paid a predetermined percentage of your funds annually. This amount is calculated based on the Interest rate offered by the bank. 

Similarly, when you invest your coin on a crypto-lending platform, you earn a certain annualized percentage of it for a specified length of time. This amount is known as the Annual Percentage Yield.

Here is a basic calculation of your Potential APY using BlockFi’s interest rate.

  • For 0 to 1 BTC, you earn 6% APY;

This means that investing 1BTC will earn you a balance of 1.06 BTC at the end of 1 year. This rate increases progressively with the volume of coins that you invest. 

  • For 1.00001 to 20 BTC, you earn 8% APY;
  • >20 BTC <100 BTC you earn 4.4% APY;
  • For 20 to 100 ETH, you earn 5.25%;
  • For 100.00001 to 1000 ETH, you earn up to 8.6%;
  • For over 1000 ETH, you earn 0.5%.

The APY rate is slightly different for other cryptocurrencies and much higher for stable coins. This is because a stable coin’s price does not fluctuate as much and is mostly 1:1 interchangeable with US dollars. For instance, 1 USDC is relatively equivalent to 1 USD. 

Disclaimer: The APY rates stated here are only for informational purposes; the actual rate you would earn is subject to change. You can find accurate data from BlockFi here.

BlockFi Interest Account

The BlockFi interest account started as a bitcoin account that enables holders to save, earn, and borrow crypto from the platform. 

This is no problem for those who do not know about cryptocurrency but are still interested in earning interest. You can simply transfer your local currency to the BlockFi account. Once the money has been reflected on your Blockfi account, you can then go ahead to purchase stable coins like GUSD and USDC. From there, you can swap your stable coins to purchase either BTC, ETH, or any cryptocurrency of your choice. 

With a BlockFi interest account, you have the chance of earning compound interest as you put your crypto asset to work. 

You also get to earn monthly interest on this account in the same crypto asset you have invested in. This way, you can heavily increase your crypto asset when it accrues interest and during the price pump.  


To enjoy all BlockFi’s offers, you need to have an account with them. Opening a BlockFi interest account is effortless. All you need to do is hover to the website, create a profile, and complete a few verification processes. 

You will be asked to upload a photograph of a government-issued ID document. It is important to make sure that the photograph of the document you are uploading is very clear and crisp. 

If you do this correctly, BlockFi will approve your application in no time at all. Once your account is up, you can then proceed to link a bank account to it. This process is very secure, so you have nothing to fear. Once you complete this step, you can then transfer cryptocurrency into the account. Ensure that the platform supports the coin. Similarly, you may send fiat currencies into the BlockFi saving account either through ACH or any other authorized method. 

There is a limit of about $500 for new account holders, while accounts that have been established have a limit of $1000. There is a possibility that both limits will be increased sometime in the future. This is because the limits are usually reviewed from time to time.  it should also be noted that deposits can take up to 4-5 days or more to clear.


BlockFi rewards its users with different bonuses from time to time. Currently, they offer a welcome bonus to new members when they register through an authentic link.

New members can enjoy a $15 - $250 payout in BTC the first time they fund their accounts. For you to qualify for the bonus, your first deposit must be around $25- $20,000. Also, you must maintain that account balance for three straight months to claim the bonus. 

You can win yourself $250 worth of BTC or other cryptos using my referral link- https://blockfi.com/getbonusbydmitry


  • No monthly fee requirements;
  • High-interest rates;
  • No penalty for early withdrawal;
  • Insured wallets by trusted securities;
  • Easy and user-friendly app.


  • It offers a limited cryptocurrency and stable coin;   
  • $5,000 minimum loan.

What Are the Top Crypto Savings Accounts?

Check this video from thecollegeinvestor to better understand what is it

A cryptocurrency savings account is quite different from traditional savings accounts. As a result, you need to know what exactly they are, how they work, as well as the risks and gains associated with operating them.

The crypto savings account is a wallet where you store your crypto asset, and in return, you earn interest on your crypto. 

For better understanding, you can liken a crypto saving account to a traditional saving account. However, instead of fiat currency, you can only store cryptocurrencies and stable coins (like BTC, ETH, USDT, etc.) in the crypto saving account. Behind the hood, the crypto account provider lends the crypto to borrowers at a certain rate.

While crypto savings accounts usually attract a higher interest than traditional savings accounts, they are also riskier. Your crypto is subject to volatility and unsteady APY. Therefore, their value might have appreciated or reduced based on market condition when you withdraw. As a caution, you should see a crypto account more as an investment rather than a surefire way of boosting your portfolio. 

To get started with crypto investing, you will need to select a reliable crypto bank. There are many fraudulent crypto banks in the market. Therefore, you need to be careful about the one you choose. 

As a rule of thumb, you should only go for account providers with perfect performance history and a proven security record. More than that, you should ensure that they offer decent APY, easy market access, and support many coins. BlockFi, YouHodler, Hodlnaut, Linus, Gemini, Coinbase, Crypto.com. Outlet Finance, Nexo, Celsius Network are some of the top crypto saving accounts in 2021. 

Creating a crypto-saving account is easy after selecting an account provider.  All you need is to contact the company, sign up, verify your details, and open a crypto saving account. From there, you can easily deposit coins into the account to qualify for interest and loans.

Other Ways to Earn Crypto Interest

There are also other ways by which you can earn crypto interest. Here is a list of some of them

2. YouHodler - Best for Retail Investor/Institutions


YouHodler coined its name from the popular misspelling HODL, which means “Hold On for Dear Life,” or simply holding on to your crypto.

Promo code: no, the bonus has already been applied to the link above.

The company was co-founded by Ilya Volkov and Renat Gafarov in 2019. After working in the finance industry for many decades, they intend to provide a platform where risk-takers can boost their portfolio massively. And two years after YouHodler’s launch, you will agree with me that their vision is taking shape gradually. 

YouHodler has many unique features that earn it a top position on my list of the best bitcoin interest platforms in 2021. First, you can deposit any amount of crypto and fiat currency in its savings account to reap a 3-12% annual return. Specifically, you will earn as high as 8% on your crypto deposit and 12% annual profit on stable coins. Also, you are not mandated to buy any platform-based token ( like NEXO and Celcius Network) before you qualify for such rewards. This makes YouHodler one of the most profitable crypto saving accounts in 2021. 

Peradventure, there arrives a time when you need cash urgently. YouHodler crypto loans enable you to borrow at 90% LTV without liquidating your asset. 

The YouHodler interest account and loans are great. But, its most endearing tools are Turbocharge and MultiHODL. Those two features provide a great chance to maximize your deposit but also very risky. It comes in handy for people who’re very proficient at predicting crypto bull runs. 

Turbocharge enables you to borrow loans as many times as possible. But why would anyone want to borrow more loans than necessary? Remember that when you borrow crypto loans, your crypto does not leave your account. 

You can take a loan in fiat, buy crypto, and pay back after a bull run. If you manage to make many positive moves, your crypto deposit would have grown well enough that you can reap big profit from the little price spreads.

With MultiHODL, you can diversify part of your crypto deposit (say 15%) into a speculative bet. Often, the bet will be risky but offer a mouthwatering return if your prediction is right. 

You need to fund your YouHodler savings account before you can benefit from its numerous offerings. Sign up is easy and straightforward. The funds are safely stored in the Ledger vault and protected by third-party agents. Therefore, you can rest assured that your assets and information are in good hands. 

The most obvious downsides of YouHodler are the $100 minimum investment and the fact that you don’t own your key. Other than this, the YouHodler offers a robust interface, high-interest account, excellent customer service, and available in every country except Bangladesh, China, and the USA. 


  • A high-interest rate can be as much as 12%;
  • It supports up to 15 top cryptocurrencies;
  • Weekly payout.


  • Not available in the USA and China;
  • Long-term loans attract high interest rates.

3. CoinLoan - Most Secure


CoinLoan was founded in 2017 and fully registered under the Finance Authority of Estonia. The strongest point of this crypto bank is its foolproof security. In order to avoid security breaches, users’ keys are kept in a bank safe rather than online networks. Also, funds are kept in multi-signature wallets.

Promo code: no, the bonus has already been applied to the link above.

At the last update, they support around 18 cryptocurrencies, stable coins, and a native token. Depending on the cryptocurrency you save with them, you can get an annual interest ranging from 5% to 12.5%. Ideally, borrowers will be charged 1% of the borrowed principal when they apply for a loan. However, you can get around that by paying with the company’s native token (CLT).  

The account holders are always delighted to know that CoinLoan does not require any minimum deposits. You may frown that payout takes up to 1 month, but that is enough time for your money to accrue reasonable interest. 

To enjoy any or all of these juicy CoinLoan benefits, you must first register and pass the mandatory verification test. This is done by providing detailed information about yourself and uploading a valid means of identification. 

From there, you can go on to fund your CoinLoan account by depositing fiat or crypto assets. Once this is done, you can start enjoying the endless possibilities that CoinLoan has to offer. These include Coinbase interest, an exchange, decent LTV ratios, free crypto deposit fees, P2P transactions, and daily withdrawal. 

CoinLoan is insured up to the tune of $100 million, and it is well secured. It offers users a two-step verification and SSL encryption to protect their accounts from third-party agents.  


  • Very secure;
  • Loans are secured by collateral;
  • You can access both crypto and fiat loans;
  • No lending commission.


  • The volatile nature of crypto affects loans.

4. Celsius Network - Best for Beginners


Celsius Network is a users’ first kind of crypto. Perhaps this moral rectitude inspired its motto, which is “Celsius is here to make you money, not take your money.”

Promo code: 138718e4d6

The company focuses on helping investors get massive returns to the tune of 15% APY on their investment while providing loans to borrowers at a decent rate. Getting a loan is quite easy. There is no crazy paperwork (like you have with Bitbond) or strict verification process. 

All you have to do is select the amount you want to borrow, agree with the interest rate, complete the repayment form - and you will be set. Your borrowing limit depends on the amount of coin you have in your Celcius Network wallet. But, the coin will merely serve as collateral, and it will not leave your account as such. 

Celsius supports over 30 cryptocurrencies, stable coins, and a platform-based token (CEL).  Each asset offers a different method to reap more returns. Depending on the token quantity you hold, you may get a higher or lower APY rate and additional bonuses when you invest or borrow from the platform. 

Though not the best for trading, the crypto savings account provider offers many other features that make it easy for you to buy, store and even transfer crypto to friends and relatives without commission. 

One of the offers that draw investors and HODLers to the platform is the weekly earning payouts. Yes, you don't have to wait for more than 7 days before receiving your interest. Since there are neither account minimums, hidden fees, nor strict withdrawal regulations, beginners with low-risk affinity can easily get started with just a few bucks. 

The company is secured by top-notch technologies and has up to $100million reserve. The Celsius Network mobile app is very intuitive. As a previous user, I could easily facilitate basic operations and navigate my way around the platform. I have nothing against the platform other than that my earning power depends on the percentage of CEL tokens I have in my portfolio. 

Overall, suppose you are looking for a fast, and growing crypto savings account with no account minimums, global reach (100+ countries), flexible regulation, and seamless withdrawal process. In that case, Celcius Network should be on your radar.  


  • Zero fees;
  • High-interest rates;
  • No minimum deposit is required;
  • Weekly payouts.


  • Weekly rates fluctuate at times;
  • They can only be accessed using the app.

5. Nexo - Best Daily Interest


Nexo was established in 2017 by a high-profile FinTech company to help people earn interest from their cryptocurrencies. It has grown its customer base to over 1 million since its inception. Nexo currently offers the highest APR and a daily interest payout.

Promo code: no special offers

Many savers are stuck to Nexo because it is outrightly ahead of its competition. It offers excellent products and services that you’ll hardly find anywhere else. These include a high-yield crypto savings account, crypto-backed loan, credit card, and the profitable Nexo token. 

The platform’s cryptocurrency savings account enables you to earn up to 5% interest on altcoins and 10% on stable coins. Nexo token, which is the platform’s very own altcoin, offers 12% APR if you store your crypto in this form. Your interest is generated daily, and you can also withdraw at any time without any penalty. 

Investors can use their coins as collateral to obtain a loan from the platform. They charge just 5.9% interest on borrowing, which is quite pocket-friendly. With only 200% LTV, and 2-3hrs processing time, Nexo loan is one of the best around.

When we said Nexo is ahead of its time, that was not a gainsaying. It provides a crypto credit card that enables you to use the borrowed loan to make purchases. As of this writing, several millions of businesses accept payment with a Nexo card, and users get a 2% chargeback when they use the card.  

Nexo’s strong points include the absence of credit check, no foreign exchange commission, and zero account minimums. It offers a 30% dividend on its token (which is a different way to make money). And unlike the other crypto saving and lending companies, Nexo supports popular fiat currencies (USD, EUR, GBP),  offering up to 12% interest on them even. 

Overall, Nexo boasts simple outlays and support videos that make it easy for absolute beginners to deposit their funds easily. And when you talk of safety, Nexo operates one of the most secure accounts. The platform has invested over $100million in insurance and has been previously audited by Deloitte. 

I think Nexo should rank high on your list if you are looking for a safe crypto savings account for daily and long-term investment. 


  • It has insurance backing;
  • It has a user-friendly website and app;
  • There is no withdrawal fee or any other hidden charges.


  • Limited cryptocurrency;
  • Forces the NEXO token on investors.

6. Bitbond - Most reliable Peer-to-Peer Service


Bitbond is a peer-to-peer bitcoin loan broker and crypto bank that enables users to either lend or borrow crypto assets like BTC. The company is headquartered and registered in Germany. One of Bitbond’s beauty is that, unlike other crypto lending websites that reserve the right to appropriate users’ funds, investors can choose the projects they want to fund.

Promo code: no special offers

Instead of earning less than 1% interest in a fixed interest traditional bank account, Bitbond offers you the opportunity to make 10-30% returns if you dare to take a little risk. Their lending option is also one of its kind. The loan request doesn’t depend on credit score, but borrowers will do much paperwork before getting it. 

The platform’s loan allocation is based on credit rating. Here, borrowers are ranked A to F based on their chances of repaying the loans. Those in grade A are the least likely to default their loan repayment, while borrowers ranked F are least likely to pay back the loan. The borrower will publish their project after the rating, making it easy for investors to select the business they wish to finance. 

The crypto asset that lenders give to Bitbond is what they give business owners and individuals to trade with and return a profit.  With Bitbond, lenders can earn up to 13% interest on their BTC.

Bitbond loan is only available to registered users. Registration involves signing up on the platform by providing your personal and financial details. Ensure that you provide accurate information as this data contributes to your eventual credit rating. One way to boost your rating is to provide social proof by linking your Amazon, Facebook, Apple, or Google accounts to the platform. 

After this, your information will be vetted, after which a confirmation email will be sent to those who pass the background checks. Once you have been verified and rated, you can go ahead to complete the repayment form and publish your proposal. 

Please note that Bitbond does not use the credit score to decide who to lend money to. However, borrowers who link their website, company details, and performance records are more likely to receive the funding. 

Bitbond is a P2P lending platform; therefore, investors and lenders have every reason to doubt the platform’s security and legitimacy. However, there is nothing to worry about. Bitbond has a physical office in Berlin, Germany, where you can easily file a complaint. Their Trustpilot’s review is decent, and they keep borrowers to a very high standard. They have been in business for the better part of a decade and will go to extra lengths to help investors retrieve their funds when a lender defaults.  

Overall, Bitbond boasts a user-friendly interface and a smooth user experience. High speed, human interaction, and simplicity are some of the things that set it apart from other crypto savings accounts.


  • Investors fund the loans;
  • They have few charges and are not hidden;
  • Easy loan application;
  • Fixed interest rate.


  • You cannot borrow large amounts;
  • Low-rated borrowers are not guaranteed loans;
  • Investors may lose money when there is a loan default.

7. Unchained Capital


Unchained Capital is a company in the blockchain and financial service industry. The company started operation in 2017 and has Its headquarters located in Austin, Texas, USA. If you are a long-term crypto holder, you qualify to borrow cash from them. The cash loan on offer is very fast, secure, and also efficient.

Promo code: no, the bonus has already been applied to the link above.

Unchained Capital ensures clients’ privacy and is also very transparent with the information they request from their users. Instead of taking the option of credit card debt that is often costly, you can decide to take a loan against your crypto assets with unchained capital for a lesser interest rate. 

With Unchained Capital, you can borrow against your bitcoin to process your tax payment. They also encourage their customers to diversify into other kinds of assets like rental properties. 

To complete your registration on the platform, you will need to provide the needed details. You even have the freedom of signing your contract online once they have approved your profile. 

Unchained Capital also provides you with working capital that can help you grow and expand your business. The security of your funds is the number one consideration that bothers unchained capital. Unchained Capital stores their customers’ crypto assets using cold storage wallets and in dedicated addresses. 

Interest rates and processing fees vary depending on the loan terms and the loan amount as shown below;



  • There is no credit check;
  • Loans can be gotten instantly within 24 hours;
  • Transparent; thus, assets can be monitored. 


  • Certain US states are restricted;
  • The minimum loan amount is quite high.

Difference Between Crypto and Normal Savings Account

The following are the distinguishing features between a crypto saving account and a conventional saving account.

Asset class 

The type of assets deposited and, thereof, invested in both kinds of accounts differs. Government-backed currency (also known as FIAT) is stored in the normal saving account. However, cryptocurrencies and stable coins are stored in a crypto savings account. 

Fiat currencies generally lose value whenever the country’s central bank decides to print more money or reduce interest rates for expansionary monetary policy goals. Since the crypto market is decentralized and not under the control of a central body, they do not have such problems. 

The crypto mining process is also well streamlined. Mining new units of a coin do not significantly impact its value. Rather, concepts like the bitcoin halving only make the next unit harder to mine than the previous. The finite nature of crypto assets makes them far more superior than the fiats. 


The traditional bank is insured by a regulatory agency called the FDIC (Federal Deposit Insurance Corporation). But, there is no such provision when it comes to a crypto savings account provider. The implication of this is that the FDIC protects a normal saving account.  Therefore, you will be able to recoup part of your money if anything goes wrong. 

Conversely, no central regulatory body would indemnify you for your losses when something happens to the crypto account provider. 

This wrinkle has been used as a reason to discourage crypto investments for many years. However, today, Fintech firms are springing up to provide insurance covers for crypto-backed banks. And many traditional insurance corporations are also coming up with new methods to fill this gap. 

ROI (Return on Investment)

When it comes to yield or ROI (return on investment), what is obtainable in a normal savings account is ridiculous compared to what a crypto saving account offers. 

By saving your money in a normal saving account, the best ROI you can get is between 1-1.3% per annum. But, you may earn up to 15% annually when you invest in a crypto saving account. 


You can access and withdraw funds from the normal savings account anytime you feel like, without incurring extra charges. But, the reverse is the case with a crypto savings account. 

When you use a crypto saving account, you only get access to your crypto asset after an agreed period. You may be charged a fee if you decide to withdraw your assets before the agreed time.

Crypto Savings Accounts Vs. Crypto Wallets

In comparing crypto savings accounts and a crypto wallet, certain cofactors need to be considered. Thus, we will try to compare both of them based on the indicators below: 

Return on Investment (Yield)

If your BTC or other crypto asset is saved in a crypto wallet, the number of coins you have stored will not increase over time. However, storing your coin in a crypto savings account will earn more interest for you. 

It should be noted that the yield that you earn here is in the form of cryptocurrency and not money in the form of USD. 

Although some exchanges give you interest in USD investment, those investments are still subject to all the risks associated with cryptocurrencies.      


It is quite true that a crypto wallet is not as safe as a crypto saving account. With a crypto wallet, your coins can easily be assessed if you lose your phone or if an unauthorized person gains access to your crypto wallet. 

For this reason, crypto savings accounts offer far more protection for your crypto assets. Many cryptocurrency banks have developed robust technology that takes security to another level entirely.   

Key Ownership

With crypto savings accounts, you give up the ownership of your access key. Therefore, the exchange can facilitate transactions using your coin. 

Most of the time, they loan out your crypto assets to other individuals or firms to trade with. On the other hand, with a crypto wallet, only you have access to the key, and nobody can trade with your crypto assets.



1. How does Crypto Lending Work?

Crypto lending involves borrowing loans from a centralized or decentralized platform using crypto assets as collateral.  The idea behind crypto loans is to borrow funds from a lender without liquidating your crypto. It comes in handy if you want to finance a short-term project but do not want to touch your crypto reserve because you feel that its value might appreciate soon. 

The company doesn’t claim the coin, as you’re merely using it as collateral. They will return your coin in full when you repay the loan and interest. The good thing about crypto loans is that their processing takes just a few hours. Also, You don’t have to pass through tedious paperwork and credit checking before you acquire them. 

On the downside, crypto lending is risky. Most times, your crypto deposit must be more than the amount of fund you intend to borrow. And you can lose a big amount of your crypto if the market trend does not go with your speculation. 

Some of the best lending platforms to obtain secured cryptocurrency loans are Binance, Nexo, BlockFi, CoinLoan, etc.

2. Can I Lose Money in Cryptocurrency?

The answer to this is a yes, but you must know that you can also make massive gains on crypto within a short period. 

Cryptocurrencies are highly volatile, meaning that the value fluctuates. It can rise sharply, and it can also fall drastically. It is in line with the law of demand. As demand rises, prices shoot up, and as demand decreases, prices fall. Cryptocurrencies are regarded as high-risk investments, especially in the short term. Therefore, your risk appetite must be high to trade crypto.

3. Are Cryptocurrencies Legal?

In the United States of America, cryptocurrencies are legal. However, some countries like China have placed a ban on the use of cryptocurrencies. Thus, determining whether crypto is legal or not depends on how your country’s government perceives it. 

Generally, crypto is not a scam. It’s accepted as legal tender in many developed countries. Also, companies like Microsoft now allow customers to pay for goods using cryptocurrency. 

4. Should I Buy Cryptocurrency?

This depends on your risk appetite. Cryptocurrency prices are speculative, making them a volatile asset to buy. When you invest in an already established asset class like BTC and ETH, you can mitigate your risk. 

If you think of a long-term investment with a great yield, then crypto is the right choice for you. Ensure that you understand the crypto risks before you decide to buy cryptocurrencies or not. 

5. How Do I Protect Myself from Being Defrauded?

If you are considering how to protect yourself while trading crypto or investing in crypto banks, you should note some things. One, you should only patronize registered and trusted exchanges. For this, you will have to carry out your research. 

You should also ensure that you do not pay money into a private account in exchange for crypto to be sold to you. You must remain vigilant at all times. 

You must be wary of those who advertise mouth-watering rates because many of them might just be bait to defraud you of your hard-earned money. 

Ensure you do your research, use only verified merchants, and always double-check before sending out money.   

6. How Safe is My Cryptocurrency if I Store Them with Crypto Banks?

Except for extreme situations like high-level hacking, your crypto asset is safe if you store them with trusted and well-secured crypto banks. 

Why Are People So Interested in Cryptocurrency, and What Do They Stand to Gain?

People are interested in cryptocurrencies because of their decentralization - no government controls them. They offer very fast and inexpensive transactions. Besides, it is founded on a novel and secure technology called blockchain, which no one can hack. 

People stand to benefit from crypto due to its massive store of value and potential to continue rising.

Bottom Line

Crypto banks are a good way to make the most of your cryptocurrency. Instead of dumping your coin in a traditional wallet, you can make them work for you by depositing them in a crypto savings account. A cryptocurrency interest account enables you to earn decent interest on your crypto within a specified time. 

Also, instead of liquidating your assets the next time you want to buy a house, car, or go on a vacation, the crypto bank lends you some funds to meet those immediate needs. Borrowing crypto attracts a small interest which you can always recover when the price of your asset appreciates. Small business owners can key into this opportunity to expand their business. 

While crypto savings accounts sound all good, they have their wrinkles, making them risky, just like other investments. But should you try a crypto-saving account? Yes, I think they are worth it. Ensure you invest with a reputable company, do your research, and only save an amount you can afford to lose. 

This crypto interest account review is an educational piece and not financial advice. The aim is to enlighten you about how to put your bitcoin and other altcoins to better use. Make sure you do your research before investing in any of the companies mentioned herein. I have no affiliation with them and will not be responsible for how you interpret or apply this knowledge.

Disclaimer: The opinions in this article belong to the author alone. Nothing in this article constitutes investment advice. Please conduct your own thorough research before making any investment decisions.

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