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Home Savings Accounts Euro Savings Accounts

Compare The Best Euro Savings Accounts
September 2022

EARN UP TO 12.3% APY ON EURO DEPOSITS. High yielding instant access savings accounts are available for Euros on some crypto platforms. No need to buy or own any crypto. Just setup an account on the platform and then transfer your Euros across to start earning.
14 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
4%
APR
TO
8%
APR
Interest paid DAILY
Go To SiteGo
Estonia
89%
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
10.3%
APY
TO
12.3%
APY
Interest paid MONTHLY
Go To SiteGo
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What Is a EURO Saving Account?

Fiat currencies are traditional currencies issued by central banks and backed by a government. United States Dollar, European Euro, British Pound, Japanese Yen, and Chinese Yuan are the most used and the leading currencies in the world. Euro is the second most used global currency in the world. European Union created and started using Euro in the year 1999. Euro is the official currency for most of the European Union member states.

Defi platforms offer Euro saving accounts besides crypto saving accounts. You can send fiat currencies to the defi and centralized crypto platforms and earn interest by holding them in a saving account.

There are stablecoins pegged to Euro in 1 on 1 ratio. Stablecoins enable cryptocurrency investors and traders to buy and sell different assets easily. Stablecoin saving accounts offer a bigger return compared to fiat currency saving accounts.

What are the terms for Euro saving accounts?

Terms are changing depending on your choice. You can open a Euro saving account in a traditional bank or in a centralized or decentralized crypto company. Traditional banks are more regulated and terms are pre-selected. But crypto companies offer a variety of saving accounts with many innovative features.

Using Euro as a Stable coin

There is also another way to use your fiat currencies to earn more interest. You can convert fiat funds to stable coins in a 1 to 1 ratio. Since the cryptocurrency market is fast growing, bullish market, there is a huge demand for funds to support new projects and leveraged trades. Crypto platforms offer very good rates on stable coin saving accounts. There is a huge inflow to the cryptocurrencies markets and the market cap is constantly growing.

There are several other stable coins pegged to Euro in a 1 on 1 ratio. Stable coins can be exchanged with other cryptocurrencies on exchange platforms. Stable coin saving accounts offer very high APR.

Traditional banks usually offer up to 1 or 2% APR in a Euro saving account. Crypto companies offer up to 10 - 12% APR on stablecoin saving accounts which is a great rate and protects you against inflation. Because when you receive 2% APR for your Euros, you will not be protected against inflation. Converting your fiat Euros to Euro stable coins and using them in a saving account can help a lot.

What are the requirements for Euro Saving Account?

You can open a Euro saving account in a bank or in a crypto finance company. The traditional way is opening a savings account in a bank, but banks offer very low APR. Banks also require you to provide all your identity verification documents. The good thing about banks is they are regulated and all funds in saving accounts are subject to insurance. There is standard deposit insurance up to $100,000 Euro for everyone in European Union, this insurance is provided by EDIS. EDIS is a European deposit insurance scheme. Defi platforms are not regulated and not protected by the governments. But there are some defi platforms offering insurance for funds on saving accounts.

What are the Advantages of a Euro Saving Account?

The good thing about the Euro saving account is the price stability. You always have the same amount of Euros. Real life price or a major fiat currency doesn’t fluctuate too much. Even the biggest market cap cryptocurrencies Bitcoin and Ethereum prices are too volatile and can change intensely. The value of cryptocurrencies may fall or increase sharply.

Fiat currencies are more stable and convenient. You can always send your fiat currencies to your debit card and withdraw some cash from the nearest ATM.

But of course, low risk brings a smaller yield. Make good research before deciding how you will use your savings.

Platform Comparisons

Article by Yunis
23 July 2021 (Updated 28 September 2022)

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