Through this tutorial, you will learn the steps on How To Earn Interest On Crypto. Review and compare various Crypto Savings Accounts:
Crypto savings accounts work in a similar manner to USD or fiat savings accounts in the bank or other financial institutions, except that most crypto platforms deal in crypto and stablecoins, do not have deposit (or high) minimums, and there is no account maintenance fee.
These platforms can also be used by anyone globally with no or minimal regulatory restrictions and limitations.
The minimum qualifications to open crypto savings accounts are much lower and they are quickly accessible. Most crypto savings accounts also allow users to deposit fiats like USD and Euro. Most platforms supporting these accounts have other products, including crypto trading, mining, staking, and investing.
Be sure to do background checks to invest in those that are not scams, those that are FDIC-insured or come with other forms of insurance, renowned, tried-and-tested, and those whose deposits are secured.
What You Will Learn:
- Review Crypto Savings Accounts
- Frequently Asked Questions
- List of the Best Crypto Saving Accounts
Review Crypto Savings Accounts
This tutorial discusses crypto savings accounts and their benefits and reviews the top crypto platforms on which you can open a crypto savings account.
- There are about 15 crypto exchanges on which you can open cryptocurrency savings accounts for the top 10 cryptocurrencies by market capitulation. These include Bitcoin, Ethereum, Tether, USD Coin, BNB, Binance USD, XRP, Cardano, Solana, and Dogecoin. Most support USDC and USDT stablecoins.
- The highest crypto savings APYs are paid on stablecoins USDC and USDT – up to 12.30%.
- CoinLoan, Nexo, Crypto.com, Ledn, and StormGain pay the highest APYs between 10% and 12.30% on stablecoins USDT and USDC when considering the APYs paid on top 10 cryptos by market cap. Ledn, StormGain, and CakeDeFi each pay the highest APYs between 10.00% and 10.40% for Bitcoin and/or Ethereum. Other isolated cases affecting the top 10 cryptos include Nexo, which pays 15% on Polkadot, CoinLoan 12.30% on Binance USD, StormGain 10% on XRP.
- New coins and tokens get APYs as high as 100%+.
Top places to earn interest in your crypto savings:
- Some crypto saving platforms have been declared bankrupt in the recent past and others pronounced scams. Be sure to research and do background checks to find those that are licensed, FDIC-secured, and/or those that come with other forms of insurance and security on deposits.
- The best crypto savings account is selected based on the annual percentage payout or yield. The best ones pay the tunes of 100%+ when you save newer cryptocurrencies. It is advisable to target APYs of 10% for relatively old cryptocurrencies. Most platforms pay 10% or less on Bitcoin, Ethereum, XRP, and other top cryptos.
- Several cryptocurrency exchanges/websites/platforms allow customers to save crypto in several earning products. These could include basic savings with passive income, staking where crypto is used to confirm transactions on proof of stake blockchain, mining, and dual investment products. All of these must specify the APYs paid. Other ways to invest the crypto savings include rebalancing (including auto-rebalancing) accounts, lending accounts, farming accounts, trading, etc.
- Most platforms allow you to save over one cryptocurrency, either on savings accounts, staking accounts, or dual investment accounts. You can allocate different cryptocurrencies into each of these products where they are supported on one exchange/platform.
How to Open a Crypto Savings Account
Follow the steps below:
- A user researches and then registers with a platform providing a crypto savings account. Most require submitting information to verify the account.
- The user deposits crypto to save or fiat (USD and others). Some platforms have exchanges that allow users to trade crypto for another and/or to buy crypto using fiat currencies through banks and credit/debit cards.
- While some platforms let you earn as soon as you deposit crypto into a crypto wallet without having to transfer to an earnings account, others require this transfer. Others require you to transfer to a staking wallet.
Crypto Savings vs Crypto Wallets
- Cryptocurrency savings accounts are ideally cryptocurrency wallets, but when they are so specified, they allow a user to save crypto for interest for as long as they want or as specified by the crypto company/owner/developer behind it. Crypto savings accounts are ordinary crypto wallets but with an additional feature that allows users to lock savings, monitor interest earnings, re-invest crypto, etc.
- A crypto wallet works like a savings bank with a specified interest rate (for a specific period) but with low entry and minimums and conditions. Crypto wallets allow a user to hold cryptocurrencies for as short/long as they want but have no interest accrued.
- Cryptocurrency savings accounts can be crypto wallets that have been saved as an extra feature. Most companies offering crypto savings features have in-built crypto wallets. Sometimes, crypto savings accounts are run by companies or services that do not have in-built crypto wallets.
Risks involved with crypto savings accounts:
- High volatility – Most people would want to save in the form of stablecoins like USDC, BUSD, gold tokens, and others whose value is pegged to a real-world asset to avoid the risk of volatility. Otherwise, the value saved can either reduce or increase with volatility.
- Need to research regulated or credible savings accounts as there will be scams that disappear after taking deposits.
- Some accounts do not have any FDIC Insurance. This means the deposits are not secured in the event the bank fails. This happens mostly for custodial accounts otherwise, you should be saved when using non-custodial accounts where you keep your own private key or recovery phrases to the crypto.
- Custodial crypto savings can lead to loss of control of your assets if you cannot opt-out at any time for the cases where you have saved in a lock-up account. For instance, you might want to withdraw to sell the assets when the price pumps.
- Crypto savings companies and their savings clients suffer counter-party risks where their lenders default on the payment. These accounts lend out money deposited by their savings clients.
Frequently Asked Questions
Q #1) Which bank account is best for cryptocurrency?
Answer: There are quite a number of crypto-friendly banks including BankProv, Juno, Wirex, Revolut, Ally Bank, USAA, and Nuri. You also get Celsius Network, YouHodler, Binance, Crypto.com, KuCoin, BlockFi, and others that allow opening a crypto savings account.
Q #2) Is crypto better than a savings account?
Answer: Crypto is regarded as better than a savings account because it offers much higher APYs sometimes running to 100%+ depending on crypto. It has lower minimum qualification requirements, requires no maintenance balance, has no minimum deposit, and is free to operate use. However, most are not FDIC-insured or regulated and hence come with some higher risks compared to banks.
Q #3) What is the best Bitcoin savings account?
Answer: Gemini Earn, Crypto.com, Celsius Earn, Kucoin Earn, Donut, Binance Savings and Earn, YouHodler, Hodlnaut, BlockFi, and others. These give APYs of above 8% up to 100+ depending on the cryptocurrency being saved.
Q #4) Should I put my savings into crypto?
Answer: Yes. Crypto savings account offers the highest APYs compared to mainstream bank savings accounts. They are easy to access and you can save as much as you need to. Besides, custodial crypto saving accounts are also available on many platforms for companies, groups, and organizations.
These savings accounts come at a higher risk, though, as most platforms are not FDIC-secured.
Q #5) Can you lose money in a crypto savings account?
Answer: It is recommended to choose crypto savings to account wisely because you can lose all the savings when saving with non-FDIC insured platforms. Some are FDIC-insured and have BitGo and other forms of insurance. Hence, they are secure to save with.
Q #6) Are crypto savings worth it?
Answer: Crypto savings are worth it depending on the APR/APY they are paying, savings fees/charges, the credibility of the company/wallet, and methods it uses to reduce savings risks e.g. allowing users to withdraw at any time and letting them convert to stablecoins.
Q #7) Which crypto interest account gives the highest APY?
Answer: Some of the highest-paying savings accounts include Ledn, StormGain, Cake DeFi, BlockFi, Coinloan, Nexo, YouHodler, Crypto.com, CoinDCX, and Bitfinex.
List of the Best Crypto Saving Accounts
Popular and best crypto interest accounts list:
- Celsius Network
Comparison Table of Top Crypto Interest Accounts
|App/exchange/platform||Cryptocurrencies supported||Platform supported||Interest (APY)|
|KuCoin||50+ crypto for staking.||Android, iOS, and web application.||100%+ APY for newer tokens.|
|Binance||100+ cryptos |
web, Android, and iOS app
|Android, iOS, and web application.||100%+ for newer tokens.|
|Celcius Network||Less than 40+ cryptocurrencies||Android, iOS, and web application.||Up to 17% APYs.|
|Nexo||33 cryptos.||Android, iOS, and web application.||Up to 16% APYs.|
|YouHodler||50 cryptos.||Android, iOS, and web application.||Up to 8.32% APY.|
Uphold cryptocurrency exchange lets you trade cryptocurrencies, metals, equities, and national currencies in a single platform. It lists 200+ crypto assets and lets users save each of these on the hosted wallet. Customers can also earn crypto rewards of up to 19.5% on crypto savings by staking them.
How to Save Crypto with Uphold:
Step #1: Sign up and verify your account.
Step #2: Buy crypto using a credit card and multiple other assets or deposit crypto directly on the platform. To buy crypto, first link your credit or debit card or bank account. Click or tap on the three dots on the bottom right of the mobile app or on the left-hand side of the page of the web app. Use the Linked Accounts button from there to add new accounts.
On the web wallet, click or tap the Transaction Panel, then From, select a card or bank account, enter the amount, click To and choose an asset, preview deposit, and enter the details required. On the mobile app, these options are available from the two diagonal arrows at the bottom of your screen.
You can also deposit a different crypto and exchange it with the one you want to stake. Click or tap the Exchange and select the pair to trade.
Step #3: To earn interest on Bitcoin and other cryptos, find the Staking feature, choose crypto, allocate the amount, and proceed to stake.
- Other assets, including stocks and metals supported for trading and holdings in the wallets. Cross-asset trading.
- Multiple cryptos are supported for saving.
- Transparent fee structure. Free storage.
- Low minimum deposit, less than $10.
- Free deposit, including bank deposits.
- A limited number of cryptos are supported for staking.
- Costly spread fees for low-liquidity coins and tokens.
Kucoin is one of the first cryptocurrency exchanges to launch, having started in 2013 It lists 700+ cryptocurrencies for trading at fees as low as 0.1%. Customers can buy crypto using credit cards, bank transfers, Apple Pay, and other options.
Investors willing to operate a cryptocurrency savings account on Kucoin can do so with Kucoin because it supports hosted wallets, but the best way to do it is to use KuCoin Earn. The latter allows users to earn a passive income of 100%+ APY on about 50 saved or held crypto in the wallets.
This can be differentiated from many other exchanges and crypto savings accounts because it supports the listing of new tokens and pays savings interest on them.
Cryptocurrencies Supported: 700+.
Platforms Supported: Android, iOS, and web applications.
How to save cryptocurrency with Kucoin:
Step #1: Sign up for an account on the web or app. Log in.
Step #2: From the upper right corner, click or tap the Asset icon and click/tap Deposit. Select a coin from the list or use the search function. Select the account to deposit to and copy the wallet address to use for the deposit. Before depositing, you can click or tap Earn to decide which crypto to deposit based on the APY.
Step #3: Click or tap Kucoin Earn, select the crypto, and allocate the amount to the stake.
- Very high APYs of over 100%+ especially on newer token projects. The reference is 40% and higher than Coinbase interest rates.
- A wide range of cryptos are supported even for saving and staking.
- Simple for beginners.
- Very low fees, low deposit minimum, and low withdrawal fees.
- Buy crypto using a bank account, credit/debit cards, Apple Pay, and other options, hence there is no need for a third-party purchase platform.
- Very high liquidity. 200+ million global investors. Available globally in 200+ countries.
- Multiple products, including peer-to-peer trading, use multiple local currencies and methods, margin trading, swapping, NFTs, social trading, speculative spot trading, futures trading, and perpetual futures trading. Others include mining on pools, crypto lending, bonus, platform token called KCS, etc.
- Not licensed in the United States.
Binance provides one of the wildest ranges of crypto products apart from cryptocurrency savings accounts. With regards to the latter, the cryptocurrency exchange platform allows users to either lock in their savings or earn some passive income whose interest is determined by the lock-in period, or to choose flexible savings options with no lock-in obligations.
The flexible savings product supports 242 cryptocurrencies for now, and APYs can be 20+, especially for new tokens. Customers can withdraw the crypto at any time. The fixed-term savings option lets users choose the lock-in period and crypto cannot be withdrawn until the period is over. It supports 18 cryptos and the APYs can also be as high as 25%+.
Cryptocurrencies Supported: 250+
Platforms Supported: Web, Android, and iOS apps.
How to save cryptocurrency with Binance:
Step #1: Sign up and verify your account.
Step #2: Deposit funds. Binance allows users to deposit using a bank, credit card, or debit card – 60+ payment options in total. The Wallet>Fiat and Spot>Deposit route from your dashboard allows you to do so. The Wallet>Fiat and Spot>Crypto route allows you to find the crypto and its corresponding crypto wallet address to which you must send the crypto deposit.
If depositing crypto, check if it is supported for earning on the Binance Earn or Savings products. However, you can still convert it into supported crypto after depositing. You can do so using the swap or exchange features. You can also buy crypto on the exchange using fiat or directly with a credit card or other methods.
Step #3: Visit Binance Earn or Binance Savings. Choose Flexible Savings or Locked Savings options. Select crypto to invest in and allocate the amount and proceed to invest.
- Trade from within the app – speculative trading with advanced order types, swapping, or instantly using market orders.
- Dual Investment, mining, farming, token/crypto listing, staking, bot trading, and many other products.
- APIs and other products for institutional investors, brokerages, and companies.
- High APYs on cryptocurrency savings accounts that hold new tokens. These rates are higher than Coinbase interest rates.
- The very high number of cryptocurrencies supported for saving and earning – 250+.
- High liquidity. Low deposit minimums ($1) to a maximum of $1 million.
- Multiple fiat payment options for those willing to buy cryptocurrencies.
- Regional restrictions on savings products.
- Lower interest compared to other platforms.
- Fluctuations of crypto interest rates.
#4) Celsius Network
Celsius Network, which filed for bankruptcy in July 2022 after, reports that it owes users $40 billion in value, and lets people earn an income of up to 17% APY on their crypto savings and up to 30% on the CEL platform tokens.
The rewards are paid weekly in either USD or cryptocurrency. People can save the monetary value in the form of about 9 stablecoins including USDC and USDT or in the form of about 50 cryptocurrencies like Bitcoin and Ethereum. It also allows users to save money in the form of gold tokens. The platform is available in 100+ countries.
The company provides cryptocurrency cash and crypto borrowing products in addition to letting customers swap 40+ cryptocurrencies. It also facilitates crypto merchant payment networks where business people and individuals can pay and get paid for goods and services with crypto.
Celsius Network is also a place where customers can buy cryptocurrencies with credit cards and bank accounts. This also allows users to send and receive cryptocurrencies from each other.
Cryptocurrencies Supported: Around 50 including gold tokens and stablecoins.
Platforms Supported: Android, iOS, and web.
How to save with Celsius Network:
Step #1: Sign up on the platform and verify the account. You can also download the app and sign up from there.
Step #2: Send the cryptocurrency that you want to save to the wallet. Click or tap the Deposit Coins tab from the home screen. Find the corresponding wallet addresses to which you need to send the crypto under the Deposit Coins tab.
Step #3: You can also connect to a bank account and deposit from a credit card.
- High withdrawal limit of $600,000 every day.
- CEL tokens reduce loan interest rates. High crypto interest rates when holding or saving money in the form of CEL tokens.
- No minimum deposit.
- Features a credit card to allow people to easily spend crypto while earning rewards on the amount held.
- The company serves accredited investors, high-net-worth individuals, ordinary individuals, business clients, asset managers, and others.
- Support for stablecoins, buying crypto with fiat like USD, and gold tokens. No third parties are needed for those willing to buy crypto with fiat on the platform.
- One-stop shop for those looking for basic crypto investments like trading, holding, etc.
- Fee-free payments using CelPay.
- Support for less than 40 cryptocurrencies for staking and about 50 in total.
- High fees when depositing fiat or purchasing crypto with bank and credit cards.
Website: Celsius Network
Nexo operates like a crypto bank, allowing customers to secure their wealth savings while at the same time earning on the savings. Customers can also earn 2% (0.5% for Bitcoin) back on every purchase in crypto and easily spend the saved crypto at Visa merchant stores and ATMs with the convenience of a Nexo MasterCard.
Nexo gives 16% APYs and customers can choose either fixed deposit terms or flexible terms with the latter allowing them to withdraw deposits at any time. The crypto interest payout is daily and 33 cryptos are supported. The company also offers crypto loans collateralized by the savings in the accounts.
Cryptocurrencies Supported: 33.
Platforms Supported: Android, iOS, and web app.
How to save crypto with Nexo:
Step #1: Sign up, verify, and log into your account.
Step #2: Buy or deposit crypto on the Nexo exchange. To deposit crypto, scroll to the bottom after logging in, tap/click the Top Up button next to the crypto you want to deposit and proceed to copy the wallet address to which you should send the crypto.
To buy with a credit or debit card, click on the Exchange tab (or Trade on the mobile app) and choose Buy. Pick the currencies, enter the amount, select Card, then click/tap Preview Exchange, enter card details, and proceed to validate.
Depositing with the bank is possible. Click/tap the USD Wallet button, then Top Up, enter bank account details, and you will be shown where to wire the money. After depositing, you can visit Markets and choose the crypto you want to buy.
You can also visit the Markets tab, select the payment option, Add Funds option from the dashboard, tap Credit/Debit Card, pick an asset, enter the amount to buy, enter card details, and confirm the purchase.
Crypto will start earning compounded interest immediately after the deposit or purchase.
You can also activate a +2% bonus to earn it on all assets held in the Savings wallet. Click on the settings tab and choose Interest payout for Nexo tokens.
- Stake NEXO tokens and earn 8% on cryptos and 12% on stablecoins.
- Earn the highest crypto interest rate of 16% by becoming a Platinum Loyalty tier which is done by making sure the Portfolio Balance comprises Nexo Tokens. A 1-month fixed term offers an additional 1% interest.
- Crypto deposits are secured with encryptions and carry a $775 million insurance from custodial partners.
- Institutional clients can access borrowing, lending, trading, and crypto custody products. Individuals can also borrow crypto.
- Cross-margin trading, spot trading, OTC, and advanced trading.
- Insurance on deposits.
- Daily payouts on crypto deposit interest.
- NFT lending.
- Use crypto savings to get crypto loans without having to sell the assets.
- Earn crypto rewards on purchases. Spend easy time with Nexo MasterCard.
- A limited number of cryptocurrencies exist .
YouHodler lets people buy, sell, exchange, pay, or get paid with crypto, and store/save crypto to earn up to 8.32% APY. The platform lets users earn passive income by staking cryptocurrencies on DeFi and liquidity pools. It also features Dual Asset products that also sometimes give three-digit APYs on invested products.
It also provides crypto-collateralized loans either in USD and other fiat currencies, as well as in cryptocurrencies like Bitcoin and Ether.
Cryptocurrencies Supported: 50 including stablecoins.
Platforms Supported: Web, iOS, and Android.
How to save crypto with YouHodler:
Step #1: Visit the website, sign up, and verify your account. The wallet is created immediately after signing up.
Step #2: You will access three tabs on logging in–namely fiat, crypto, and stablecoins. Find the Deposit button from the left side Wallet panel. Choose the bank wire option to deposit fiats like USD and Euro. To deposit crypto, choose the crypto and copy the wallet address to which you need to send the crypto.
Step #3: Find and sign the Savings Rewards Agreement from the profile section to start earning on the savings
- Support for 6 stablecoins for saving and borrowing.
- Fiat, stablecoins, and crypto deposits are supported.
- Trade crypto with fiat and stablecoins on a cryptocurrency exchange.
- Demo currencies YUSD and YUSDT are supported.
- Withdraw funds to a bank account, for instance, after borrowing.
- Crypto assets and deposits insured up to $150 million.
- You can use the savings account as collateral for crypto-collateralized loans on the same platform. It has a high loan-to-value percentage of up to 90%.
- Multi-HODL and Turbocharge products let you multiply passive earnings. Multi-HOLD lets you invest in multiple or a chain of loans using a portion or all of your cryptocurrencies while Turbocharge does the same but uses the user’s borrowed funds.
- High deposit minimum-$100.
- Limited cryptocurrencies-just 50.
Crypto.com puts together a host of cryptocurrency products, including a cryptocurrency exchange, staking on a cryptocurrency savings account to earn passive income, buying crypto with fiat, and a credit card to allow users to spend crypto easily and instantly at merchant stores and ATMs around the world.
The cryptocurrency savings account lets users either save 38 cryptocurrencies or the platform’s token CRO and earn up to 14.5% p.a. (8.5% p.a. on stablecoins) crypto com interest rate. For those who want to save CRO, the platform lets you stake between $400 and $40,000 and get between 1% to 5% APY interest and a Crypto.com VISA card to use at merchant stores and ATMs.
Cryptocurrencies Supported: 50 including stablecoins.
Platforms Supported: Web, iOS, and Android.
How to save cryptocurrencies with Crypto.com:
Step #1: Sign up on the web or mobile app. Verify your ID. Tap either Create Wallet or Import an existing wallet from the top-left corner of the screen. This way, you can connect to an existing DeFi wallet. You can create more than one wallet. Write down the recovery passphrase and keep it safe. Enter other details such as the wallet name.
Step #2: Deposit crypto. Depositing crypto is easy on Crypto.com. Tap or click the Transfer button, then Deposit, then Crypto. Select Crypto to deposit, enter an amount, and proceed to copy the wallet address.
You can also buy crypto with a credit card by clicking on the Buy tab. Select the coin/token to buy, and proceed to pay with a connected Credit/Debit card or bank account. To connect a card, go to the Card page, tap or click Top Up, select Credit Card, and continue to add to the card.
Step #3: Go to Super App Menu, choose Crypto Earn, select preferred terms, and make allocations with crypto.
- Advanced trading with speculative advanced trading orders. Trade with up to 10x margins on the spot and 50x in derivatives trading.
- Extra products include DeFi wallets, browser extensions, desktop wallets, pay and get paid for crypto, crypto loans, NFTs, crypto.org public blockchain, accept crypto for business, learn about crypto and its aspects, etc.
- Buy, trade, and save 250+ cryptocurrencies using 20+ fiat currencies.
- Support for multiple products in the crypto ecosystem.
- Learning materials and crypto universities.
- Crypto com interest rate is mid-range compared to rates offered by others.
- Low-to-no fees for those who are holding CRO.
- High fees unless for those holding CRO crypto.
Fees: Zero to save.
BlockFi lets customers and users buy, sell, and earn cryptocurrencies over the web or Android and iOS apps and features hosted wallets to which you can hold or save digital currencies for as long as you wish. It also offers crypto lending against crypto collateral and crypto credit cards with which you can spend crypto at any Visa merchant outlet or ATM.
If you want to save crypto in a cryptocurrency savings account on BlockFi, there are no fees and no minimum balance. Unfortunately, unlike other platforms, it does not allow U.S. customers to earn interest on their cryptocurrency savings. For others, you can deposit crypto and allocate it to earn a passive income or simply let it lie in the wallet without earning.
Cryptocurrencies Supported: 15.
Platforms Supported: Web, Android, and iOS apps.
How to save crypto with BlockFi:
Step #1: Sign up and verify your account.
Step #2: You can then deposit either fiat or cryptocurrencies into your account. Fiat deposit is done by clicking on the top navigation bar under the Fund button. Select USD (stablecoin), then Select Payment Method, select Bank Transfer (ACH), and link to a bank account or use Plaid.
Step #3: To deposit crypto, select the crypto to deposit and copy the wallet address to which you will send the crypto.
- Buy crypto instantly for as little as $20 using the ACH bank method. No need for a third party when you want to use the platform.
- Automate portfolio to buy repeatedly using the dollar-cost averaging method.
- Branded crypto card that rewards purchasers with 1.5% Bitcoin rewards per purchase transaction.
- Withdraw crypto to bank account via wire transfer.
- Easy crypto spending via the Visa card.
- Earn up to 8.7% on deposited crypto. Monthly compounded interest.
- Ability to borrow against crypto savings without having to sell.
- Minimal deposit amount — $0.
- A limited number of cryptocurrencies are supported – only 13.
- High withdrawal fees.
Hodlnaut, which announced bankruptcy in August 2022, lets people operate cryptocurrency savings accounts and they can earn up to 7.25% interest on their savings. The earnings start immediately after depositing, are paid every week, and there are no lock-in periods, so customers can withdraw the deposits immediately.
Additionally, customers can choose a fixed-term deposit to earn an interest rate that varies with the deposit term or period (30, 90, or 180 days). The deposit minimum is just $1. Crypto is very deposited and committed to earning the interest it is used to lend to margin traders.
Another earning opportunity on your crypto savings account is asset rebalancing, which allows holders to sell or buy crypto to optimize their portfolios. Other products provided by the platform include zero-fee crypto swaps, lending, borrowing, and others.
Cryptocurrencies Supported: 7.
Platforms Supported: Web, Android, and iOS apps.
How to save cryptocurrencies with Hodlnaut:
Step #1: Sign up for an account. Verify the account.
Step #2: Deposit crypto or fiat (USD and others) through bank accounts, credit cards, and debit cards. Buy crypto to save with the deposited amount.
Step #3: Commit to and allocate funds to the fixed deposit product.
- Support for stablecoins DAI, USDT, and USDC allows users to hold their value constant.
- Earnings on deposits start immediately, unlike on many other platforms where you might need to wait seven days before the first payout.
- Deposit one crypto and earn interest in a different one. This is a unique way to dollar-cost average another cryptocurrency.
- Only 7 cryptocurrencies are supported including BTC and Ethereum.
Gemini is based in the United States and, in addition to being a cryptocurrency exchange, allows users to earn a passive income of up to 8.05% APY Gemini interest rate on 51 cryptocurrencies after they deposit them for saving. Customers can, of course, open cryptocurrency savings accounts for multiple other cryptos not supported by earnings on deposits.
You can redeem the deposit at any time.
How to save crypto with Gemini:
Step #1: Sign up for an account on Gemini. This can be done on the website or mobile app.
Step #2: Deposit or purchase the crypto of your choice using a credit or deposit card or bank account. To deposit crypto go to To buy crypto with fiat like USD.
Step #3: Click or tap the Earn Interest tab to invest and earn Gemini interest rates on crypto.
- Staking also lets users earn on their deposits, but a limited number of products are supported.
- Gemini Credit MasterCard to earn crypto rewards on every purchase; cryptocurrency exchange for trading with advanced or market orders; Gemini Custody for institutional custody products; Gemini dollar-pegged stablecoin; OTC and clearing services; etc.
- Support more than 120 cryptocurrencies that you can save on the crypto savings account.
- Custody is best for institutions and high-net-worth individuals since the crypto are also insured. Institutional trading products are also available.
- In-built app and buying crypto with fiat like USD.
- Easily spend the crypto that you have saved with the convenience of the Gemini MasterCard credit card.
- High transaction fees and convoluted fee structure.
Ledn allows users to earn up to 7.5% APY on crypto savings paid in Bitcoin or USDC. The interest accrues daily and is compounded monthly in Ledn savings account.
The drawback is it supports only Bitcoin and USDC but it is one of the best places to earn interest on Bitcoin because it offers a higher APY compared with many other platforms. You can start earning as soon as you have a balance. No additional steps.
How to save crypto with Ledn:
Step #1: Register and verify your account.
Step #2: Send funds in BTC or USDC to your wallet. You can also deposit one and exchange it for the other. To do the latter, click or tap Trade. You can trade as much as $2 million per trade per day and a maximum total of $5 million.
- Borrow crypto against your savings. Loans are funded within 24 hours.
- Swap between BTC and USDC easily without fees.
- No minimum balance to start earning interest on savings.
- Withdraw crypto savings at any time.
- Globally, including in select US states.
- Only BTC and USDC are supported.
- High stablecoin withdrawal fees of $35 per transaction.
This tutorial discussed the top 11 platforms and apps or websites for opening a crypto savings account. We also discussed how to earn interest in crypto from these platforms in a bit more detail.
Most of these allow you to earn some passive income higher than banks and other financial institutions while saving. Others do not. Most of these are free for anyone wanting to open a crypto savings account. You may also select a platform/company/website based on which crypto they support.
For this reason, the higher the earnings APY pays on savings, the better the app/website/exchange/platform. We saw that Binance and KuCoin offer the highest APYs sometimes going to as much as 100% and they are flexible and progressive in terms of allowing users to save new cryptos and tokens that just started.
They definitely offer the best crypto-interest accounts. You might also like these because they offer a very diverse range of products.
Crypto.com, Celcius Network, Uphold, Nexo, Gemini, BlockFi, and Hodlnaut also offer some of the best crypto interest accounts with mid-range APYs of between 10% and 20% and are a bit conservative in terms of which crypto they list.
Apart from depositing in a savings account, another way to save crypto is to stake it where you earn some passive income on the crypto. Mining may also be a good alternative for those willing to put their crypto savings to work instead of letting them lie idle in a wallet.
- Websites/applications/platforms listed for review: 30
- Actual websites/apps/platforms reviewed: 11
- Time is taken to research, review, and write the tutorial: 24 hours.