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Gelt Crypto Account: Savings Account Review [10% APR Plus Cash Sign Up Bonus]

No doubt, there are many ways to make money from cryptocurrency. While Bitcoin was originally intended for peer-to-peer transactions, many simply used it for its speculative value.

Meanwhile, fintech has come up with creative ways to reward investors for using their platform. Interest rates on some crypto accounts are now so high that these payouts are higher than traditional investment accounts, and this is before speculative earnings are even taken into consideration.

You can hodl onto your cryptocurrency and earn interest while you sleep. Such example of crypto savings accounts is the Gelt crypto account which offers as high as 10% Annual percentage Yield (APY) on savings.

What is a Custodial Savings Account?

Custodial exchanges are how most people are introduced to cryptocurrency. Custodial savings accounts are similar to bank accounts that promise to keep cryptocurrency for a period, where it will earn interest. These savings accounts provide a way to make your money work for you. Centralized savings accounts accept virtual assets from individuals and loan them out to institutional investors that use their crypto as collateral. Custodial savings accounts serve as the intermediary between the person that wants to save and a borrower.

When you save with a third-party crypto exchange such as BlockFi, you revoke the right to your private keys and the control over your coins. Custodial crypto platforms have hosted wallets where coins are kept for the owners until the need arises. You have to trust that the custodian will keep your coins safe for you.

What is a non-custodial crypto savings account?


A non-custodial account or decentralized finance account uses a computer algorithm to save virtual assets and provide users with yield. There is no third-party or intermediary in a non-custodial crypto account. Instead, individuals hold their keys and are responsible for the security of their crypto savings. Most of these Defi platforms are built on the Ethereum blockchain, and they offer high interest on savings. In addition, you can save your fiat currency in a non-custodial savings account, which is then converted to cryptocurrency for you to hold and earn interest. It is then converted back to fiat currency when you want to withdraw your fund.

Most non-custodial crypto interest accounts offer both staking and savings ability for individuals interested in making passive income. Decentralized exchanges usually deal with stablecoins pegged to fiat currency like USDC and coins that can be staked like DOT, Ethereum and DAI; therefore, they provide less volatility and higher yields.

What are the downsides of a custodial crypto savings account?

The famous phrase “not your key, not your coin” best describes the disadvantage of a custodial savings account. Since you are entrusting a third party to securely keep your virtual asset for you, the responsibility lies with the exchange and not you, but does it work in your interest? Apart from the centralized nature of a custodial savings account which defeats the whole purpose of cryptocurrency, which is decentralization, there are other downsides to a custodial savings account.

  • Security

One of the primary concerns about a custodial crypto savings account is the high risk of thefts, hacks, and fraud associated with the platforms. While you give the power to lend out your crypto assets to a custodian, they are usually saved on the web, which is prone to attack. While many custodial savings accounts provide a basic security level like 2FA and allow listing, they are nevertheless susceptible to hacks. In this case, centralized savings accounts are similar to conventional banks. However, traditional banks are insured by FDIC, and if there is an issue with the bank, the customer’s funds are secured. Therefore, one of the risks of trusting a custodian with your crypto investment is a lack of adequate security.

  • Deposit and withdrawal limitation

Most centralized finance accounts have rules which limit customers from carrying out withdrawals and deposits when they deem fit. Holding a crypto savings account means you want your money to work for you, but you also want to sell your asset anytime you like. However, custodial crypto savings account like Gemini and Nexo Earn will advertise no withdrawal fee, but users can only withdraw a certain number of times per month. In the same vein, BlockFi withdrawal processing time varies, and a user can be delayed for 24 hours before their withdrawal is processed. This is not practical in the volatility market of cryptocurrency, especially when you want to liquidate your asset before it drops quickly.

Platform Processing Time
Gemini Earn 5 days
BlockFi 7 days
Nexo 24 hours
Celsius Savings 48 hours


What are The Benefits of a Custodial Crypto Savings Account?

  • A Custodial crypto savings account is the familiar.

If you are new to crypto savings, a non-custodial crypto savings account takes some getting used to. On the contrary, a custodial savings account provides a simple interface and easy process for beginners to understand.

  • Provision of backup

Crypto savings accounts hold users’ private keys in their custody and are responsible for their safe keep. Therefore, if you lose your password, you can still gain access to your crypto assets.

What are the downsides of a non-custodial crypto savings account?

  • Difficult for Beginners

Non-custodial crypto savings accounts are relatively new, and it might be difficult for a newbie to understand the whole concept of DeFi. Due to their familiar nature, people who are just dabbling into cryptocurrency will want to buy from popular exchanges like Robinhood, Coinbase, and Binance.

  • The risk of losing access to crypto account

In addition, the responsibility of individually keeping coins safe might be novel to most people. As such, there is a risk of losing private keys or forgetting mnemonic seeds, which will result in the loss of crypto assets.

  • Unregulated Nature of DeFi

DeFi platforms are unregulated, and if you do not carry out adequate research, you might lose your money to elaborate scams posing as non-custodial saving accounts. Although pseudonymity is eliminated in regulated, centralized exchanges, custodial accounts give users some assurance, as they usually operate within the purview of the law or face sanctions if they commit violations.

What are the benefits of a non-custodial crypto savings account?

  • Trustless transactions

Non-custodial crypto savings accounts provide an avenue for trustless transactions. You do not need to trust the platform or any central authority where your funds are saved rather than carrying out the exchange. In a trustless, decentralized crypto exchange, you have complete control over your fund, and you do not need to rely on any intermediary to keep your private key safe. Custodial crypto savings account are a target for hackers, and access to users’ private keys and data on these centralized exchanges makes data breach possible. Recently, hackers made away with more than 7 million users’ personal information from Robinhood.

  • Low to no fees

Most decentralized finance accounts do not charge fees for withdrawal or deposits, and all interest accrued is distributed to customers.

  • Anonymity

Non-custodial savings accounts are famous for the privacy and anonymity they afford their users. For instance, you do not need KYC to save money in most non-custodial crypto savings accounts.

  • Flexibility

Since there is no delay in funds withdrawal, you can easily swap your crypto for other crypto or fiat currency. Better still, you can take advantage of the flexible nature of decentralized exchange to sell your coins at any time.

  • Transparency

The highly decentralized nature of DeFi transactions makes it easy for anyone to access and track but not changes. Non-custodial crypto savings account lets users know what their money is used for and how it is shared.


Crypto Savings Account Pros Cons
Custodial Easy for beginners Slower withdrawal
Possible to recover lost Account The security of funds is not in control of the user
The risk of centralized exchanges getting hacked is high
KYC reduces the chance of anonymity and privacy.
Non-custodial User has control of funds Lost keys imply lost funds
Flexibility in funds withdrawal Difficult for beginners to navigate
Protect users’ identity
Trustless transactions


What is Gelt Finance?

While DeFi puts the power of securing funds in the hands of users, it is mostly available to experienced cryptocurrency investors. The daunting nature of DeFi can put off many beginners making it challenging to trade and save crypto. However, Gelt seeks to correct this anomaly by providing a decentralized finance savings solution that guarantees a high yield to everyone. Gelt is the DeFi equivalent of a savings account for both beginners and seasoned cryptocurrency traders. Gelt brings DeFi to the mainstream so that everyday users can quickly access the benefits of DeFi in cryptocurrency savings and lending.

How does Gelt work?

Gelt is linked to mSTABLE; a Dapp built on the Ethereum blockchain, so, all funds on Gelt finance are secured with the smart contract. Since the users have full control of their finances, it is safe and cannot be accessed by Gelt. Although Gelt has a simplified DeFi interface, it provides an extra layer of security by automatically insuring funds deposited with mSTABLE. So, you can continue to earn a yield on your stablecoins without any fear of losing your money or paying an unnecessary fee. Fiat deposit is free on Gelt, so you can start with a small deposit to know how much you can earn and then proceed from there. You can deposit a maximum of $25,000 cash without any deposit fee.

Currency Fee
Fiat currency $0


Gelt simplifies coin swapping and movement of funds in and out of DeFi without any additional fees or delays. In addition, it caters to both the crypto-savvy and newbies. Moreso, Gelt enables your stablecoins to work for you through DeFi and while you earn a very high yield. Since Gelt helps convert USDC to fiat currency and vice versa without hitch. As you well know, USDC is a digital dollar that is pegged to the US dollar at 1:1, it is highly unlikely that the volatility of the market will affect your savings. Gelt makes insured stablecoin accessible to all.

What APY/APR can we expect from Gelt Finance?

Gelt finance offers users a minimum of 5 and a maximum of 10% APY on their savings.


Deposit APY Withdrawal
$1000 7% $1,070


What sign-up bonuses can we expect from Gelt?

Users can refer other people to benefit from the high-interest savings Gelt provides and earn a $10 referral bonus. Simply copy the invite link and send it to a friend who will also request a Gelt invite. Afterward, you get a $10 cash welcome bonus added to your account automatically and without stress. This applies to the first 100 people who send invites.

Where can I get an Invite for Gelt finance?

Users can refer other people to benefit from the high-interest savings Gelt provides and earn a $10 referral bonus. Simply copy the invite link and send it to a friend who will also request a Gelt invite. Afterward, you get a $10 cash welcome bonus added to your account automatically and without stress. This applies to the first 100 people who send invites.

Where can I get an Invite for Gelt finance?

You can get Gelt invite from Gelt.finance website by clicking on “get access.” Alternatively, you can get an invite for Gelt Finance through a referral from friends on social media platforms like Facebook, Twitter, and LinkedIn.

Conclusively, the trustless nature of DeFi gives users the ultimate control over their funds. Still, a lack of understanding of the application of non-custodial exchange hinders many people from taking advantage of it. Gelt seeks to remedy this situation by making DeFi straightforward for everyone to use.

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