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Compare The Highest Yield Bitcoin Savings Accounts
May 2022

EARN UP TO 10.6% APY ON YOUR BITCOIN. You could start earning a substantial passive income on your idle Bitcoin assets. Deposit your Bitcoin crypto on one of the platforms below to start earning interest immediately. Many accounts offer instant access and very competitive rates.
60 savings accounts monitored
Platform Reviews Advantages Interest Rate
Bulgaria
87%
Compare
$25 Free BTC When you deposit $100 or more in assets on the platform. View all Nexo deals
tickVery simple & easy to use
tickNo hidden fees
tickInterest paid daily
FROM
1%
APY
TO
7%
APR
Interest paid DAILY
Go To SiteGo
Estonia
90%
Compare
Earn 0.1% cashback on every exchange and loan + 0.05% monthly cashback on savings. View all Coinloan deals
tickHigh LTV of up to 70% available on loans
tickHigh savings account interest rates
tickDaily compound interest
FROM
5.2%
APY
TO
7.2%
APY
Interest paid MONTHLY
Go To SiteGo
United States
76%
Compare
Get $250 free BTC when you deposit $100,000. CodeClick to Reveal Code View all BlockFi deals
tickTransfers in and out of savings account are instant
tickOne of the only major platforms to be based in and fully regulated in the US
tickFull transparency on company location and regulation status
FROM
0.1%
APY
TO
3%
APY
Interest paid MONTHLY
Go To SiteGo
Switzerland
81%
Compare
Win a Macbook Pro When you trade crypto with YouHodlers MultiHODL product. View all YouHodler deals
tickVery high LTV up to 90% available on loans
tickInnovative Multi-HODL product allows market speculation with savings funds
tickTurbocharge allows highly leveraged speculation on crypto assets with multiple loans on one deposit of collateral
4.8%
APR
Interest paid WEEKLY
Go To SiteGo
Canada
88%
Compare
$25 USDC cashback when you take out a loan. View all Ledn deals
tickUltra simple model
tickNo hidden fees
tickOnly one interest payment at end of 12 month term required on loans
FROM
2%
APY
TO
5.25%
APY
Interest paid MONTHLY
Go To SiteGo
United Kingdom
77%
Compare
$5,000 Free CEL When you deposit $100k in CEL. CodeClick to Reveal Code View all Celsius Network deals
tickNo hidden fees
tickGet higher savings rates and lower loan by investing in CEL Token
tickEasy to use phone app
FROM
1%
APY
TO
10.7%
APY
Interest paid WEEKLY
Go To SiteGo
Hong Kong
75%
Compare
$50 free CRO when you deposit $1,000 or more in CRO. CodeClick to Reveal Code View all Crypto.com deals
tickFully comprehensive suite of crypto services
tickAutomatically buy cryptos on a fixed schedule - great for dollar cost averaging
tickRegulated & trustworthy
FROM
0.5%
APR
TO
1%
APR
Interest paid WEEKLY
Go To SiteGo
Lithuania
94%
Compare
10% off fees 10% off trading fees. CodeClick to Reveal Code View all Binance deals
tickThe biggest crypto platform in the world
tickHuge array of innovative crypto related services
tickHigh liquidity exchange offers competitive rates
FROM
0.1%
APY
TO
3%
APY
Interest paid DAILY
Go To SiteGo
United States
80%
Compare
Earn 20% referral fees Earn 20% on the trading fees for any friend that you refer to Kraken. View all Kraken deals
tickOne of the biggest crypto exchanges in the world
tickLarge selection of supported cryptocurrencies
tickVery competitive maker and taker fees
0.25%
APR
Interest paid WEEKLY
Go To SiteGo
Singapore
95%
Compare
Free 70 USDT When you deposit $11,000. CodeClick to Reveal Code View all Hodlnaut deals
tickVery simple easy to understand interface
tickInterest accrued daily and paid out weekly
tickEnhanced interest rates available for big depositors (over 100 BTC)
FROM
1.5%
APR
TO
5.2%
APR
Interest paid WEEKLY
Go To SiteGo
United Kingdom
82%
Compare
£10 Free BTC when you buy or sell £100 in crypto. CodeClick to Reveal Code View all Luno deals
tickEasy to use mobile and web apps
tickStrong support in a number of developing countries
tickLow exchange fees if you use the Luno exchange
1.5%
APR
Interest paid MONTHLY
Go To SiteGo
United Kingdom
81%
Compare
$100 USDC free Get $100 free in USDC when you deposit $2,000. CodeClick to Reveal Code View all AQRU deals
tickSimple, easy to use interface
tickCompetitive exchange rates
tickCompetitive interest rates for large deposits
1%
APY
Interest paid EVERY SECOND
Go To SiteGo
Important Message Definda does not provide any financial advice. All information is provided for research purposes only. DeFi is a rapidly evolving industry. Most businesses in the sector are very young and it is possible that some of them could go out of business in the future. Such an event could result in the loss of your investment. You should do your own research or consult a financial advisor before investing any money. Please read and satisfy yourself with our terms before continuing to use our website. We offer a free impartial comparison service of savings, loans and other DeFi products. We may receive a small commission from some of the companies listed, but this never influences our rankings. If you spot any errors in the information listed then please contact us at info@definda.com.

BITCOIN Saving Accounts

A Bitcoin Saving Account allows you to participate in the cryptocurrency market while also earning significantly greater interest rates than a traditional bank account. Therefore, depending on the digital asset you offer, there may be greater hazards associated with earning interest on crypto than earning money from a bank.

You put your money into a digital currency like Bitcoin, Ethereum, or stable coins when you open a cryptocurrency savings account. The saving account provider will then lend your cryptocurrency to borrowers in exchange for a portion of the interest.

What is Bitcoin Saving Account?

You can use a crypto saving interest account to lend cryptocurrency in exchange for interest. Returns on your digital assets may vary. You should care about the exchanges that are popular, reliable, and have not received a large number of complaints from other users.

Cryptocurrencies cannot be directly used to get a mortgage, a car loan, or any other type of financial loan. Working with your local bank is essential for various types of financial assistance. But there are various platforms offering loans against your crypto collaterals.

Due to the volatile nature of the cryptocurrency market, there is a potential that your investment could lose value and you will lose money. You can also make more than the interest rate because of the price increase. Bitcoin is very promising for long term. As a result, instead of thinking of Bitcoin Savings Accounts as a substitute for savings accounts, think of them as investment account.

How do Bitcoin Saving Account Work?

The value of cryptocurrencies is determined by the supply-demand balance from the users. Just like stocks or commodities, they are valued or depreciated at the instantaneous supply-demand pricing during the exchange. In other words, the more demand a crypto currency is in, the more valuable it is.

The system is equivalent to how banks function with savings accounts. For example, you deposit your money, and then the bank lends it out, and you get paid back with the interest. You can usually withdraw your funds at any moment.

On the crypto balance in your savings, you will get a fixed interest rate, computed regularly and paid monthly in crypto. The interest rate is variable, meaning it might be the intended per cent or less depending on the market circumstances. You will earn interest at a fluctuating daily rate each day.

What are The Benefits of Bitcoin Saving Accounts?

While the safety of online transactions was a major selling factor, it was the investing opportunities that attracted the most attention. For those who were unable to use traditional banking products, quick access to internet cryptocurrency provided an alternative investment option. Investing in cryptocurrencies has several advantages. These advantages include avoiding charges, direct investment management, access to a diverse selection of investment choices is simple, etc.

What are The Risks of Bitcoin Saving Accounts?

Cryptocurrencies may appear to be a good idea, but they are not without their downsides. Cybersecurity, regulation, and monitoring are lacking, the value that fluctuates, inherent lack of worth, due to rapid expansion, infrastructure stability issues are some of the negative aspects of the emergence.

Lending bitcoins carries its own set of hazards, making it riskier than a regular savings account. The majority of your profits will be determined by the price volatility of the digital asset on which you earn interest.

The Federal Deposit Insurance Corporation does not insure crypto interest accounts, thus if a company goes bust, you will not be able to get your money back

What Is The Difference Between Crypto Wallets and Crypto Saving Accounts?

Crypto Wallets and Crypto Saving Accounts are not the same things in the market. The capacity to generate interest is the fundamental distinction between a cryptocurrency savings account and a crypto wallet.

Your money will earn interest if you keep it in cryptocurrency savings account for a long time. Your investment will not accrue interest if you keep your coins in a wallet with keys that only you have access to the number of coins in your wallet will always remain the same if you do not withdraw them.

You have complete control over your coins when you keep them in a bitcoin wallet. You have complete freedom to relocate, exchange, or remove them as you see fit. You give the account provider permission to loan out your original money when you invest in a cryptocurrency savings account.

What do I mean by this is your account supplier may impose a time limit on when you can withdraw your funds. When it comes to bitcoin liquidity, putting your coins in a wallet is typically a better alternative than holding them in a savings account.

Platform Comparisons

Article by Yunis
23 July 2021 (Updated 24 May 2022)

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