What is the Best Crypto Savings Account Right Now (18% Yields, Free Cash Bonuses)

As of January 2021, there are 5800 cryptocurrencies, according to data from CoinMarketCap. And the expected market cap for Crypto may reach $163 Billion by 2027. Which means, if you are not yet investing in crypto Savings Accounts today, it could be too late.

We know, Bitcoin continues to reign supreme as the premier digital currency. And what sounds like an impossibility, but Bitcoin is worth $63,767 as of November 2, 2021. All the Experts were wrong before. And this price could be just the beginning.

— What’s important for us to understand is how Crypto Savings Accounts actually work, and how they’re able to pass on such amazing Yields.

And all you have to do is look at the data we reviewed together. Unlike stocks, crypto rewards its investors, both in the coins going up in value, but also by paying Yields to anyone that holds their token.

That is how a Crypto Savings Account works. The Coin pays you for helping them build their Blockchain networks.

With so many crypto savings accounts to choose from, it can be difficult to know where to start. To help you maximize your profits in the quickest time possible, we bring you a detailed guide on the best crypto-saving accounts.

Remember: This is not financial advice, just for educational purposes. Don’t invest what you can’t afford to lose.

How does a “Normal” Savings Account Work?

If you have a regular savings account, you deposit money into it on a regular basis, such as once per month.

If you can reliably set aside money each month, and you don’t mind having limited access to savings, this can be helpful. In addition, the interest rate on these loans is typically quite high. However, if you skip a payment or make a cash withdrawal, your interest rate will drop. 

To open a standard savings account at a bank, you usually have to have a current account there first. Instead of investing in a big sum, people often choose regular savings to account to get into the habit of saving regularly. Following on from ordinary savings accounts, crypto-savings accounts are currently gaining enormous popularity.

Following is the graph for the above data on saving interest rates from 2010 – 2020


How does a Crypto Savings Account work?

Like a traditional bank savings account, a cryptocurrency saving account gives customers full access to the crypto market and the opportunity to earn interest. For long-term cryptocurrency investors, an account like this can be excellent because it earns money while still protecting your assets.

A wide range of crypto investing possibilities is now available, as previously noted. The features, settings, and so on vary from one crypto savings account to the next. 

The table below is a detailed comparison between the interest rates of various crypto saving accounts:

A Comparison of various Crypto Saving Accounts

Bitcoin (BTC) Ethereum (ETH) Litecoin (LTC) Tether (USDT) USD Coin (USDC)
BlockFi 0.1% – 4.5% 0.25% – 5% 0.1% – 4.75% 8.5% – 9.5% 8% – 9%
Nexo 4.0 – 8.0% 4.0 – 8.0% 4.0 – 8.0% 8.0 – 12.0% 8.0 – 12.0%
Celsius 3.51 – 6.20% 5.05 – 6.35% 4.08 – 5.33% 13.19% 10 – 13.19%
Coinbase 6.0% 0.15%
Gemini 1.49% 2.05% 2.77% 1.5% – 8.5% 2.5% – 7.5% 0.5% – 5.0% 6.0% – 14.0% 6.0% – 14%
YouHodler 4.8% 5.5% 5.5% 12.7% 12%
Voyager 6.25% 5.25% 6.5% 9%

Crypto Interest Rates Comparison Graph

What are the Rates of Return for Crypto Savings vs Normal Savings Account?

The interest rates on normal savings accounts vary from country to country and year to year, whereas the interest rates for crypto savings accounts rely on the company rates. As previously indicated, the prices on various platforms differ.

Normal Saving Accounts V/s Crypto Saving Accounts

Traditional savings account interest rates range from 0.1 percent to 0.6 percent per year on average (APY). Cryptocurrency savings accounts offer much greater annual percentage yields (APYs). If you start crypto savings account with BlockFi, for example, you might earn up to 8.6% APY on your initial investment.

The following table compares the rates of the best crypto savings account in detail.

Platform Bitcoin (APY) USDT (APY) ETH (APY)
Haru Earn Plus 15.5% 15.3% 15%
Binance Earn 1.2% 2% Variable
Nexo 4% 8% 4%
Blockfi 0.5% 9.3% 0.5%
Celsius Network 3.5% 10% 5.1%

The above are the best high-yield crypto savings accounts. Their rates are growing year by year and vary between Bitcoin, Ethereum, and stable coins. 


Is Crypto Savings Account safe?


Although cryptocurrency savings accounts are not backed by any government, the safest platforms take extra precautions to keep your funds safe from misuse and hackers. Many lenders have sophisticated security measures in place to reduce counterparty risk and automate margin calls for their customers. But keep in mind that you should only invest money that you are willing to lose.


No one can say for sure if using one of these accounts is a wise choice. If you’re a crypto-enthusiast who intends to hold on to your currency for the long run, volatility and liquidity may not be an issue for you.


It’s also possible that you won’t be concerned about the lack of FDIC protection if you’re trading on a reputable cryptocurrency exchange. If you’re looking to diversify your savings, opening one of these accounts could be beneficial.


You may not be aware of all of these disadvantages, but they may be too huge an obstacle for someone who is just getting started with cryptocurrencies and isn’t sure how to handle it.


It’s critical to know what you’re getting into before opening a cryptocurrency-backed savings account. It’s still possible to lose all your bitcoin savings, even if many have grown tremendously in value by 2021.


How to stay safe when dealing with crypto scams?


Before you start anything cryptocurrency-related, make sure the people you’re dealing with aren’t scam artists.


Good education and trusting your intuition are the best defenses against cryptocurrency scams.


Checking the following items is critical:


  • Who are the brains behind the organization?


It’s a good sign if the people in charge of the company are open about their identities. You should be wary if you can’t figure out who’s in charge at a corporation.


  • If you’re considering a service, make sure their customer service is good.


You can contact them by phone or email. What’s the reaction from the other side? How well do they respond all of your concerns and inquiries? Do they manage to elude detection at times? Another important thing to consider is how they act. Do you think it’s nice or disrespectful? Do you think they’re being obnoxious?


  • See if you can find the small lock icon beside the URL address by searching.


To add to that, if the website’s address does not begin with “https,” be extra cautious.


  • See where they’re going on their journey using this road map.


Where do they see this going in the next few decades? Is there any sense in this? Scams, on the other hand, are in it for the short term, not the long term.


Does a crypto savings account have minimums?

When you have a typical savings account, you have the freedom to withdraw your money whenever you want, without any fees or limits. After you deposit your cryptocurrency into your savings account, some cryptocurrency savings accounts may restrict access to your coins for a specified amount of time. 


Moreover, they may charge you an additional fee if you remove your assets before a specific deadline. Many platforms, on the other hand, do not have minimum lockup periods, allowing you to withdraw your money from your investment at any time.

Rank Platform Minimum
1 BlockFi No Minimum
2 Nexo $500,000
3 No Minimum
4 Gemini No Minimum
5 Coinbase $100,000

What are the Restrictions of a Crypto Savings Account?


The major restriction of a crypto saving account is it’s fund access. With a traditional savings account, you have the freedom to take your money out whenever you want. You may be unable to access your coins after depositing them into your crypto savings account if the account’s terms and conditions state that it will. 


If you withdraw your money before a certain date, you may be charged a fee. Although some platforms have a minimum lockup period, you are free to withdraw your money at any moment.


Gelt Finance: The First Crypto Savings Account Offering 10%+ Interest Rates


You may earn 10-20 times more interest on your idle cash with Gelt’s decentralised finance (DeFi) interface, which is safe and easy to use.


What goes on in the engine of Gelt? With a seamless integration of the Compound decentralised lending protocol, Gelt is an Ethereum non-custodial wallet. If you have cash in your Gelt wallet, no one else, even Gelt, can access them. You may earn interest by lending funds on Compound right within the app with just a few button presses.


Gelt funds are specifically managed by a private key that you have personally created and keep safe in Gelt. On the unusual event of a data breach in the Gelt servers, this makes it technically impossible for Gelt Finance, Inc. (our company) or anyone else but you to access your Gelt account funds (hosted and protected by Amazon Web Services).


What are the Best Crypto Savings Accounts right now?


Following are the best crypto saving account today, which give the best interest rates.

  1. BlockFi


For anyone interested in earning interest on their bitcoins, ether, or stablecoins, the most well-known and best option is the BlockFi Interest Account. A bank-like supplier of cryptocurrency savings accounts, loans, and exchange services, BlockFi was established in 2017 and is fully regulated and licenced, with banking licences to operate in 48 U.S. states.


  • Interest Rates


From 0.1 percent to 8.25 percent, interest rates range. They don’t have a minimum deposit requirement, and they pay interest on the money they have deposited monthly. Bitcoin and Ethereum feature interest rates that decrease as you deposit more of the currency.

BlockFi offers an interest rate of up to 4.5% on BTC

Amount APY
0 – 0.10 BTC 4.5%
> 0.1 – 0.35 BTC 1.0%
> 0.35 BTC 0.1%

BlockFi offers an interest rate of up to 5% on ETH

Amount APY
0 – 1.5 ETH 5%
> 1.5 – 50 ETH 1.5%
> 50 ETH 0.25%
  1. Nexo


Nexo’s high-yield savings accounts pay out daily interest of up to 12 percent APY on 17 different cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Members of Nexo’s loyalty programme, which rewards them for holding their native coin, NEXO token, get the best prices.


  • Interest Rates


There are a variety of cryptocurrencies with rates ranging from 4 percent to 8 percent, including Bitcoin, Ethereum, and Ripple A 10% -12% return is possible on several stablecoins like USDT, USDC and DAI as well as USD, GBP and EUR bank deposits.


They give bonuses based on a variety of parameters, but their base rates are not necessarily as high as those of other platforms.

  • Fixed Term or Flex


  1. With a fixed-term deposit, you’ll get a 1 percent bonus on bitcoin and fiat rates.
  2. There is a one-month term for crypto, and a three-month term for fiat currency.
  3. Stablecoins do not yet support fixed terms.


  • Payout Method


Earnings in the NEXO token are worth 2% more than earnings in the currency you invested in.


The Tier of loyalty depends on the percentage of NEXO tokens held by users.

Up to 1% NEXO tokens in portfolio
1 – 5% NEXO tokens in portfolio
5 – 10% NEXO tokens in portfolio
Over 10% NEXO tokens in portfolio
0.0% bonus on crypto 0.25% bonus 0.50% bonus 1% bonus
0.0% bonus on stablecoins 0.25% bonus on stablecoins 1% bonus on stablecoins 2% bonus on stablecoins
0.0% bonus on cash 0.25% bonus on cash 1% bonus on cash 2% bonus on cash
  1. Celsius Network


The interest rates offered by Celsius, which range from 2.02% to 17.78% on 14 different cryptocurrencies, are among the highest accessible.


  • Interest Rates


People that have a large amount of Celsius Token in their interest-bearing accounts get paid the most interest (CEL). However, even their base rates tend to be more expensive than the industry average.

5-10% CEL
10-15% CEL
15-25% CEL
>25% CEL
Earnings Bonus: 5% Earnings Bonus: 10% Earnings Bonus: 15% Earnings Bonus: 25%

Their multi-tiered loyalty programme rewards CEL cardholders with exclusive benefits:

Interest payments in CEL have significant benefits over interest payments in the original investment currency.

The bad news for investors in the United States is that CEL is only available to authorised investors and overseas consumers at this time. The highest possible rate is 13.99 percent in this scenario. For growing amounts of Bitcoin a user receives decreasing rewards.


  1. Coinbase


The interest accounts at Coinbase are less well known than the exchange, but it’s still worth taking a look.


It’s a favourite among newcomers to the crypto industry because of the large selection of cryptocurrencies and the simple user interface. They do have a few possibilities for generating interest, but the choices are restricted.


  • Interest Rates


USD Coin deposits at Coinbase earn a rate of 1.25 percent annual percentage yield (APY) (USDC).


In April 2021, they will begin allowing a small number of customers to stake Ethereum and earn up to 6% in return. You can join their waitlist if the service isn’t currently available to everyone.

  1. Gemini


Another well-known cryptocurrency exchange, Gemini, now provides interest-bearing accounts as part of its service expansion.


  • Interest Rates


There are presently 28 currencies available with APY rates ranging from 1.26 percent to 8.05 percent, compounded daily. They have a large selection of currencies.

Hafi Z

Published by
Hafi Z

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