10+ Best Crypto Savings Accounts in 2024 to Earn Interest

Why Trust Techopedia Crypto
Why Trust Techopedia Crypto

One huge advantage to crypto investments is that you can actually gain more profit using various strategies. In this manner, crypto savings accounts can offer yield on crypto assets that far outstrips fiat-based bank or credit union accounts.

This guide will explore the best crypto savings accounts available today, as well as which ones offer the best rates and features.

The Best Crypto Interest Account List
2024

  1. Coinbase: Offers a special USDC savings account that doesn’t involve lending, as well as a staking service. USDC APY up to 5.10%, ETH APY up to 2.93%.
  2. Kraken – A well-established crypto exchange with high staking yields for all the top cryptos.
  3. Binance: The world’s largest crypto exchange with hundreds of assets for earning yield. USDT APR up to 22%.
  4. Kucoin: Crypto exchange with a wide list of available assets to earn yield.
  5. Paybis: A beginner-friendly crypto trading platform featuring an in-house crypto wallet.
  6. NEXO: Lending platform with minimal lockup times and third-party crypto asset guarantees.
  7. Crypto.com: Crypto Exchange with high yields for well-capitalized investors.
  8. LEDN: A conservative crypto savings account for Bitcoin and USDC.
  9. YouHodler: Savings account with no minimum lockup periods and multiple protections for investors.
  10. Uphold: Crypto exchange and staking platform that earns yield without lending assets.
  11. Finblox: Crypto lending firm that uses DeFi protocols to earn yield on stablecoins.

Reviewing the Best Crypto Savings Accounts

1. Coinbase – Crypto Savings Accounts for US Customers

Coinbase is one of many major crypto exchanges to offer a staking service – Coinbase Earn – that allows users to earn yield on their digital assets by using them to secure their respective blockchain networks and earn rewards. The Coinbase savings account offers nearly 3% APY on staked Ethereum and up to 10% on other popular staking assets. The number of staking assets available varies based on region.

Coinbase is also directly partnered with Circle – issuer of the USDC stablecoin. As such, it also offers a loyalty program with a 5.10% yield to anyone who holds their USDC on Coinbase that is neither funded by lending nor staking but rather by Coinbase’s own funds.

Coinbase also offers an enterprise staking solution to users called Coinbase Cloud. This allows users, developers, and companies with the tools to partake in staking while keeping full custody of their customers or their own assets.

Coinbase has stated that it’s willing to sue the SEC if it gets sued for offering its staking product, meaning the offering may still be available for a while—even to US residents.

Crypto Asset APY (%)
Ethereum (ETH) 2.97%
USD Coin (USDC) 5.10%
Number of Cryptos 9

Offer: Sign up and get up to $200 in crypto¹

Terms: ¹Valid for new users who make a cryptocurrency purchase on Coinbase. Limited while supplies last or Coinbase revokes this incentive at its sole discretion. Coinbase reserves the right to change the terms, eligibility criteria, and payouts for all incentives at any time, for any reason. Void where prohibited or if Coinbase determines that the customer is not eligible for the offer. Terms apply.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

2. Kraken – Popular Exchange With High-Interest Yields

Founded in 2011, Kraken is the best crypto interest earning platform that provides staking services, allowing users to earn interest on their crypto savings. It offers a large selection of digital assets, with over 200 cryptos available for trading. The exchange supports several fiat currencies, including USD, EUR, CAD, GBP, CHF, JPY, and AUD.

Kraken allows staking for a variety of cryptos, including Ethereum (ETH), Algorand (ALGO), Cardano (ADA), Cosmos (ATOM), and others. Kraken offers both bonded staking, which involves a specific period during which your assets are locked and you cannot trade or withdraw them, and Flexible staking, which allows instant unstaking at any time.

To participate in staking on Kraken, users must have their accounts verified to the Intermediate level or higher. Staking on Kraken involves depositing funds into your Kraken account, selecting the cryptocurrency you wish to stake, and choosing the staking option as applicable. You can view your staked assets and rewards under Kraken’s ‘Earn’ section.

Kraken’s platform is accessible in over 190 countries, but it does have restrictions in certain regions and for specific cryptos.

Crypto Asset APY (%)
Cardano 3-6%
Ethereum 1-4%
Tron 1-4%
Number of Cryptos 17

3. Binance – Best Crypto Savings Accounts for Yield-Earning

As the world’s largest crypto exchange, Binance offers a slew of financial products – and a crypto high yield savings account is naturally one of them.

With Binance Earn, users can earn on their crypto holdings through a variety of methods – including staking and lending. Furthermore, users can reap rewards from Binance’s Launchpool by locking their assets within DeFi liquidity pools.

Binance also provides Dual Investment products that let users lock up their crypto and automatically either “buy low” or “sell high” if the price of the asset crosses a certain point on a user-specified date. If the price doesn’t cross a given threshold, users get to keep their assets and still earn yield in the meantime.

Binance offers 346 “Simple Earn” products from which users can earn yield in some fashion, making it one of the best crypto savings platforms in terms of asset diversity.

Crypto Asset APY (%)
Bitcoin (BTC) 0.3%
Ethereum (ETH) 1.12%
Tether (USDT) 22.03%
Number of Cryptos 346

4. KuCoin – Low and Steady Bitcoin Interest Account

KuCoin provides a wide product suite for crypto investors that offers KuCoin Earn, which lets users save and earn crypto yield. KuCoin can generate passive rewards for users through blockchain staking as well as lets users earn yield by lending out other coins.

What makes it one of the best crypto savings accounts is that it lets users choose between different yield products to match their risk-tolerance level. For Bitcoin, users can earn a relatively low and steady 0.04% APY yield with its “savings” product or more than 100% APY with its dual investment product. Note that rates for both products are floating, and the latter does not offer principal protection.

For Ethereum, staking proves 10 times more profitable than savings. Investors can get 4.6% annualized returns for staking vs. 0.08% APY returns from savings yield.

KuCoin is also useful for those who wish to take trading into their own hands, thanks to its many advanced trading features, such as margin trading and trading bots.

Crypto Asset APY (%)
Ethereum (ETH) 0.08%
Bitcoin (BTC) 0.04%
USD Coin (USDC) 0.6%
Number of Cryptos 50+

5. Paybis – A Crypto Trading Platform Supporting 150+ Assets

Paybis is a crypto trading platform that emerged in 2016 and quickly cemented itself as one of the most intuitive websites to buy and sell cryptocurrencies. The platform exclusively supports the purchase of over 150+ crypto and fiat assets using fiat methods.

Intensive security features stem from the platform’s licensed nature. Not only does it have a license from the FinCEN Department of the Treasury, United States of America, but it also adheres to the regulations of the European Union.

These security features consist of standard SSL encryptions and two-factor authentication for the main website. However, users who access Paybis’s own crypto wallet will get access to additional features like three-layer storage protection and private keys.

Another big plus about Paybis is that it is accessible in over 180 countries and 48 states in the US. While it doesn’t support trading pairs, its standard trading features are fit for those who only want to buy and sell crypto assets without dealing with complex trading mechanics.

Crypto Asset APY (%)
Bitcoin (BTC) Not yet available
USD Coin (USDC) Not yet available
Number of Cryptos 150+

6. NEXO – Lockup Periods Under 24 Hours

Nexo is one of the best interest crypto accounts with minimal lockup periods of under 24 hours and quality third-party security guarantees.

Over 60 top cryptocurrencies like Bitcoin, Ethereum, USDT, USDC, Dogecoin, Polygon, and Polkadot are available for saving and earning interest. Bitcoin savings earn up to 7% interest, while USDC savings earn up to 14% interest. Though interest payouts are made daily, the platform limits the number of withdrawals users are allowed to conduct to 1-5 times each month.

Nexo stayed strong in 2022 while rival firm BlockFi bit the dust. Nexo credited this to its better risk management practices. These include requiring 2:1 collateralization on loans, and refusing to extend uncollateralized loans to “high-flying crypto asset managers.”

Note that Nexo’s Earn product was paused in the United States last year due to regulatory difficulties. Acquiring top yield rates also requires holding 10% of one’s portfolio in NEXO tokens, having part of their interest paid in NEXO, and agreeing to lock up one’s assets for one month.

Crypto Asset APY (%)
Bitcoin (BTC) 7%
USD Coin (USDC) 14%
Ethereum (ETH) 8%
Number of Cryptos 60+

7. Crypto.com – Top Rates for CRO Investors

Crypto.com lets investors earn yields on 21 different crypto assets/stablecoins, with varying rates depending on your CRO lockup, lockup period, membership status, and amount invested.

What makes this platform stand out in the realm of the best crypto savings accounts is that it also offers a bonus of 2% APY on all savings products to users with a private membership holding its Obsidian Black, Rose Gold, or Icy White cards. These rewards are distributed in CRO tokens.

Tier 1 rewards for Bitcoin and Ethereum savings max out at 5% and 5.5% APY, respectively, for standard users, while USDC rewards are capped at 5% APY.

Crypto Asset APY (%)
Bitcoin (BTC) 3.5%
Ethereum (ETH) 4%
USD Coin (USDC) 5%
Number of Cryptos 21+

8. LEDN – High Quality Crypto Interest Account

LEDN is a crypto lending and savings platform that allows Bitcoin holders to earn some of the safest yields available on the market. It’s our choice for the overall best crypto savings account today.

Unlike other platforms, LEDN adjusts its yields every month to market conditions so that the platform doesn’t overextend itself. For example, the platform once offered 6% APY on Bitcoin during the 2020/2021 bull market but has reduced that yield to 3% APY today.

USDC yields, however, have remained consistently high compared to competitors, going at 10% APY as of March 2024. Yield is generated through rehypothecation of user funds to a variety of crypto trading firms, of which none represent a single point of failure for the company.

LEDN also generates profit by providing loans to users without a need for credit. Instead, customers can receive a loan if they provide collateral worth twice the value of the loan in Bitcoin. Bitcoin-backed loans come at a starting interest rate of 10.40% APR annually.

Crypto Asset APY (%)
Bitcoin (BTC) 3%
USD Coin (USDC) 10%
Number of Cryptos 2

9. YouHodler – 30+ Cryptos for Saving and Borrowing

YouHodler is a crypto exchange and high-interest rate crypto savings account baked into one. Over 30 highly-rated cryptos are available on the platform for both saving and borrowing, including Bitcoin, Ethereum, Tether, BNB, and more.

The platform offers some of the highest rates in the crypto savings market, including up to 4.5% APY on Bitcoin savings, paid out weekly. YouHodler savings accounts include limits on how much of a users’ deposits are available for earning yield, but these limits can be increased through a variety of methods.

YouHodler generates yield by lending out user funds. It has a minimum deposit amount of $100. It also provides crypto loans to customers funded by depositors to its savings account, which are paid out in either fiat currencies or stablecoins.

The platform comes with many third-party security guarantees. Blockchain security firm Elliptic executes on-chain monitoring and risk assessment, while Ledger and Arch UK Lloyds of London syndicate protect customer funds and provide crime insurance.

Crypto Asset APY (%)
Bitcoin (BTC) 4.5%
USD Coin (USDC) 9.5%
Ethereum (ETH) 4.5%
Number of Cryptos 30+

10. Uphold – Earning Yield Through Staking

Uphold combined crypto trading, forex trading, and crypto savings services all into one app. Over 200 cryptocurrencies are available for trading on the platform, from which 32 can be staked to earn yield.

Unlike traditional savings accounts, Uphold doesn’t generate yield through lending but by staking users’ crypto inside their relevant blockchains to earn token rewards. While this is generally a less risky method of generating returns, the number of cryptos with which this can be done is limited. For example, there is no yield for Bitcoin or stablecoins.

Yields earned from staking can vary depending on the token. More stable cryptos, such as Ethereum, can offer over 4% APY yield, while more volatile ones can offer up to 16% APY. APY rates are variable, however, fluctuating with a given blockchain’s supply and demand.

Uphold does not currently offer its yield services to US residents.

Crypto Asset APY (%)
Ethereum (ETH) 4.25%
Solana (SOL) 5.5%
Cardano (ADA) 3%
Number of Cryptos 30+

11. Finblox – Top Platform for Stablecoin Yield

Finblox is a high yield crypto savings account that lets users earn up to 90% APY on certain crypto assets without any minimum balance required.

The platform offers both a “savings vault” for savers looking for stablecoin yield and a “crypto vault” for those earning on more volatile crypto assets like BTC, ETH, SOL, AXS, and AVAX. It provides 32 assets for staking in total.

Yield can vary wildly depending on the asset selected. Altcoins like APE and AXS offer whopping 12% and 30% APY yields respectively, while stablecoins like USDC and USDT offer rates comparable to other platforms up to 4.5%. Bitcoin currently offers no APY, while ETH provides 3.5% APY.

While Finblox formerly boasted no withdrawal limits, that changed in June 2022 after contagion from the collapse of Three Arrow Capital forced the platform to impose limits and suspend interest payments on certain coins.

Crypto Asset APY (%)
Ethereum (ETH) 3.5%
Tether (USDT) 4.5%
ApeCoin (APE) 12%
Number of Cryptos 32

Best Crypto Savings Accounts Comparison

Below is a basic crypto savings account comparison based on the information provided above.

Platform Number of Cryptos APY(%)
LEDN 2 BTC = 3%

USDC = 10%

YouHodler 30+ BTC = 4.5%

USDC = 9.5%

USDT = 9.5%

NEXO 60+ BTC = 7%

USDC = 14%

ETH = 8%

UpHold 30+ ETH = 4.25%

SOL = 5.5%

ADA = 3%

KuCoin 50+ BTC = 0.4%

ETH = 0.08%

USDC = 6%

Coinbase 120 ETH = 2.97%

DOT = 6.92%

USDC = 5.10%

Crypto.com 21 BTC = 5%

ETH = 5.5%

USDC = 5%

Binance 346 BTC = 0.3%

ETH = 1.13%

USDT = 23.74%

Finblox 32 ETH = 3.5%
USDT = 4.5%APE = 12%

How Do Crypto Savings Accounts Work?

Crypto savings accounts work by taking the assets provided by depositors and using them to perform various tasks that help generate more money over time.

Many crypto savings accounts work similarly to traditional savings accounts. By depositing money within the account, investors give the provider permission to lend out their money in search of yield (ex. LEDN, NEXO, etc). Some firms do this by lending out assets to corporate trading firms, while others directly lend to other retail customers through overcollateralized crypto loans.

Some of the best crypto savings accounts, such as those from Uphold and Coinbase, produce yield for customers through blockchain-based staking. With these accounts, users’ funds are used to provide security within crypto networks that use a proof of stake consensus mechanism. Such networks reward those willing to lock up their crypto for a period of time with new coins.

In many cases, staking-based savings accounts offer a much higher yield than lending-based accounts. Binance, for example – which offers both types of savings accounts for ETH – provides less than 1% APY on its lending product but a 4.3% APY on its staking product. Staking account rates vary over time, however, depending on the activity and fees generated with the account’s associated blockchain.

Another form of saving includes dual investment accounts, which let users earn yield while also specifying price points at which to “buy low” or “sell high” on specific cryptos when they cross a certain price point. Finally, firms like Coinbase simply pay out of pocket to provide customers with a 2% yield for USDC held on the platform—and don’t do anything with the depositor’s money.

What Cryptocurrencies Can You Save & Earn Interest On?

The cryptocurrencies available for saving and earning interest can vary from platform to platform. Firms like LEDN only offer two crypto savings accounts, while Binance lets users earn yield on over 300 cryptocurrencies from various sources.

Most of the best crypto savings accounts let users earn a yield on the top cryptocurrencies by market cap, like Bitcoin and Ethereum, which offer single-digit APYs.

Crypto saving platforms will also usually offer yield in one or both of the top two stablecoins – USDT and USDC. Yield for stablecoins is often higher than that of the top two cryptos– especially during bear markets.

Most other platforms also support a wide range of popular altcoins, such as Polkadot, Solana, and Cardano. Such cryptos are often offered as part of a staking service, in which user assets are used to secure the blockchain and earn native rewards rather than for lending and trading. Altcoin savings accounts often provide much higher APYs than those available in Bitcoin, Ethereum, or stablecoin accounts. Here’s a list of 20 cryptos that have a cryptocurrency savings account on multiple platforms.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether (USDT)
  • USD Coin  (USDC)
  • Binance USD (BUSD)
  • Solana (SOL)
  • Polygon (MATIC)
  • Axie Infinity Shards (AXS)
  • Avalanche (AVAX)
  • NEAR Protocol (NEAR)
  • The Sandbox (SAND)
  • Binance Coin (BNB)
  • Polkadot (DOT)
  • XRP (XRP)
  • Cardano (ADA)
  • Cosmos (ATOM)
  • ApeCoin (APE)
  • Dogecoin (DOGE)
  • Tezos (TEZ)
  • Tron (TRON)

Are Crypto Savings & Interest Accounts Safe?

While crypto savings platforms can be tempting for their high yields, even the best crypto interest accounts have associated risks. It’s important to consider these risks when deciding whether using a crypto savings account is worth it:

  • Savings accounts require trust in a centralized intermediary to manage funds. So long as coins are locked away earning yield, you will miss out on one of crypto’s core benefits—the opportunity to own digital money.
  • Borrowing/lending platforms, in particular, often move crypto across a string of platforms, all of which must be relied upon to continue generating the promised yield. In 2022, a wave of contagion across numerous high-profile lending firms forced the likes of Celsius, Voyager, BlockFi, and Alameda Research all into bankruptcy, with depositors still unable to withdraw their principal savings or their interest.
  • Stablecoin cryptos may be slightly less risky, given that companies can generate yield on such deposits by lending them directly to their other customers at a slightly higher interest rate. While they typically offer a much higher yield than traditional savings accounts, note that these accounts are not FDIC-insured.

Conclusion

Investors can capitalize on cryptocurrencies’ growing popularity by utilizing the benefits of crypto savings accounts, such as competitive interest rates and security features. It is important to note that when finding the best crypto savings accounts, investors should remember to consider each and every factor that aligns with their financial goals.

If you are looking to earn interest on tokens that could undergo substantial price appreciation, we recommend Coinbase. It allows staking for a variety of cryptos, including Ethereum (ETH), Algorand (ALGO), Cardano (ADA), Cosmos (ATOM), and others.

Offer: Sign up and get up to $200 in crypto¹

Terms: ¹Valid for new users who make a cryptocurrency purchase on Coinbase. Limited while supplies last or Coinbase revokes this incentive at its sole discretion. Coinbase reserves the right to change the terms, eligibility criteria, and payouts for all incentives at any time, for any reason. Void where prohibited or if Coinbase determines that the customer is not eligible for the offer. Terms apply.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

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Mensholong Lepcha
Crypto & Blockchain Writer
Mensholong Lepcha
Crypto & Blockchain Writer

Mensholong is an experienced crypto and blockchain journalist, now a full-time writer at Techopedia. He has previously contributed news coverage and in-depth market analysis to Capital.com, StockTwits, XBO, and other publications. He started his writing career at Reuters in 2017, covering global equity markets. In his free time, Mensholong loves watching football, finding new music, and buying BTC and ETH for his crypto portfolio.