Crypto Savings Rates Updates

As we reach the end of June we have seen a number of crypto platforms adjust their savings rates in response to the situation in the crypto market. We have seen a mix of reduced rates on some platforms, increased rates on others, and some platforms announcing that they are holding steady or adjusting rate tiers.

Crypto.com

Crypto.com has made a significant number of changes including the removal of SHIB, DOGE, XTZ, MKR, EOS, OMG, FLOW, KNC, ICX, COMP, BIFI, ONG, GAS, STRAX and BNT form its earn program. They have reduced rates on stablecoins TGBP, TAUD, TCAD, TUSD, USDP to 0.1% for instant access non-loyalty accounts, or up to 4.4% for 90 day term accounts. On the plus side they have introduced competitive rates for three new tokens: Zilliqa (ZIL) and Near Protocol (NEAR) both offering up to 6% APY, and Fantom (FTM) offering up to 5% APY.

BlockFi

BlockFi has raised rates this month, increasing its headline rate for BTC and ETH to 3.5%. They have also raised their stablecoin rates on USDC, GUSD, PAX and BUSD to 8.5% and USDT to 8.75% for deposits up to $20,000 USD.

Hodlnaut

Hodlnaut has decreased its rates slightly on BTC (now starting at 4% APR), bit increased its headline rate on ETH to 4.5% APR. They have reduced the headline rate on DAI to 3.56% APR, but have increased rates on stablecoins USDC and USDT to 5.1% for deposits up to $500,000 USD.

LEDN

LEDN have kept their rates unchanged and are still offering a headline rate on BTC of 5.25% for deposits up to 0.1 BTC.

Luno

Luno have not changed their rates, but have removed their savings product for UK customers. UK customers can still access the other parts of the Luno app.

Nexo

Nexo has adjusted its tiers so that those with larger deposits now receive more favourable rates. This does however mean that the rates for small deposits have been reduced.

YouHodler

YouHodler have reduced rates slightly across some of their tokens, although they are still offering very competitive rates on a number of stablecoins including 10.7% APR on USDT and 10.3% APR on USDC, USDP, TUSD and Dai. The BTC and ETH rates remain competitive too at 4.7% APR and 5.5% APR respectively.

We continue to watch the market closely and report back with the latest rates and best deals as they become available. We welcome any feedback, so please just email us at info@definda.com if you'd like to get in touch.

Matt & the Definda team