I wrote this complete guide to the best crypto interest accounts of 2023 to help you make the right decisions.
It’s time to earn high interest for your crypto deposits (up to 15 – 20% APR) — paid daily or weekly.
Your interests can be paid in FIAT currency (such as USD, GBP, CAD), which is preferable to most beginners.
When it comes to cryptocurrency interest accounts, you’ll often hear people recommending Nexo, VAULD, Celsius Network, and Binance Earn as the leading platforms that pay out high yields.
I’ll show you a lot more reputable platforms with high-yield interest accounts.
This guide will show you:
- What the best crypto interest accounts are
- How the best crypto interest accounts work
- How to maximize your interest rate and earn more profit, plus how to avoid wasting money on a ‘fancy’ crypto exchange platform
- And lots more…
So if you’re ready to earn up to 20% Annual Percentage Rate (APR) for your crypto deposits, this guide is for you.
Let’s go ‘all in’ and generate high yields for our crypto assets.
What Are The Best Crypto Interest Accounts?
Here are my top picks for the best crypto interest accounts of 2023:
- Midas Investments
- Binance Earn
- Outlet Finance
Alright, let’s dive right in. Here’s a breakdown of the best crypto savings and interest accounts in 2023:
Best overall crypto interest account
Nexo offers a crypto interest account that pays interest on a daily basis, and you can withdraw it at any time.
It offers competitive rates and does not require a lock-up period.
So it’s not as versatile as some other crypto interest accounts.
Those looking for a cryptocurrency interest account should check out Nexo.
This company offers a range of rewards from 6% to 12% APY on a wide variety of digital assets, including stablecoins.
- A high-yield Savings account that pays up to 20% APR
- Earn daily interest on Cryptos, EURx, USDx, and GBPx.
- Deposit or withdraw funds anytime
- Get approved quickly to borrow cryptos
- 30+ crypto assets to lend/borrow
- Easily withdraw interests to your bank account
- Your funds are safe with Trusted Insurance cover on the custodial assets
- You can borrow and pay low-interest rates (starting at 0%).
- Get your cash loan approved quickly. Zero credit checks
- Get a free virtual card, which is accepted at 40+ million merchants globally
- NEXO is a bit complex to learn, it requires a learning curve
- The mobile app can be laggy at times
Nexo Fee Structure
Up to 1% NEXO Tokens in Portfolio
1 Free Crypto Withdrawal each month
1-5% NEXO Tokens in Portfolio
2 Free Crypto Withdrawals per month
5% – 10% NEXO Tokens in Portfolio
3 Free Crypto Withdrawals per month
At least 10% NEXO Tokens in Portfolio
5 Free Crypto Withdrawals each month
Nexo is the world’s most advanced, regulated digital assets institution offering quick fiat on-ramps for 40+ cryptocurrencies, industry-leading earn rates on assets, intuitive crypto exchange, instant crypto credit lines, and the world’s first crypto-backed credit card.
Best crypto interest account to earn interest starting with $1
VAULD is a leading crypto lending platform, with a versatile crypto interest account you’ll love.
When it comes to cryptocurrencies, the VAULD crypto interest account is among the most popular. In addition to being a great way to start earning interest, VAULD allows you to deposit as little as $1 of cryptocurrency.
Not only is it the fastest way to access cryptocurrency interest rates, but it also provides a secure and convenient place to hold your assets.
This new cryptocurrency lending platform has many advantages, including competitive rates and regular upgrades.
- Get paid weekly on compounded interests
- Borrow cryptos with ease
- Earn, Borrow, and Trade Cryptocurrencies
- Interest rates up to 11.57% APR
- Earn higher interests rates on fixed deposits
- Earn up to 11.57% APR on your deposits
- There are no hidden fees
- Join a crypto community to discuss upcoming tokens
- A simple and easy-to-use mobile app
- No hassles. Easily pay back your loans via installments
- VAULD is a new crypto platform, so it lacks the reputation that Binance and Coinbase have.
- Making a deposit/withdrawal can be a lot easier (especially for beginners)
VAULD Deposit and Withdrawal Fees
VAULD Interest Rates
Savings Rate (APY)
Fixed Deposit Rate (APY)
Vauld is a Singapore-based crypto exchange and lending platform. It offers a number of options to customers looking to buy, sell, and borrow cryptocurrencies. You can also use Vauld to lend or borrow crypto assets and make instant payments on these assets.
A simple crypto interest account to earn interest on your BTC, ETH, DAI
Hodlnaut is a crypto lending platform, which also provides an Interest Account with good yields.
For those who are looking for a cryptocurrency interest account, Hodlnaut is an excellent choice.
With a simple sign-up process, you can immediately deposit your crypto and begin earning interest.
There are no lock-in periods and no minimum deposits. The website has an attractive and modern design, and it is easy to navigate.
- Deposit and withdraw funds anytime
- Easy Token Swap
- Weekly interest payouts to your wallet
- No minimum deposits. No lock-in periods
- Earn compound interest on your assets
- Earn up to 12.73% APY with a crypto interest account
- The crypto interest dashboard is clean and easy to use
- Get paid every week on your accumulated interests
- No minimum deposit, you can start with $1
- Interests are only paid on 6 crypto assets
- The iOS app can be improved for speed
Up to 12.75% APR
Any amount (start with $1)
The best crypto platform to earn interest rates at true value
Crypto.com has grown to become a trusted crypto exchange and lending platform. It also offers interest accounts that pay 14.5% APR.
With the Crypto.com platform, users get digital wallets and cryptocurrency-backed debit cards.
The crypto app makes it easier to track and manage your crypto funds. You can use the app to deposit and withdraw cryptocurrency anytime.
This app supports 40+ cryptocurrencies. You can also track the prices and buy/sell crypto on the site.
- Earn interests on your cryptos (up to 14.5%)
- A digital wallet
- Trade Derivatives with ease
- Margin trading
- Crypto merchant payment services
- Earn compound interests and get paid every 7 days
- Get your loans approved fast, with low fees (0.036% – 0.144%)
- Cashback cards
- Get Gift cards and phone top-ups
- Easily convert your FIAT currency to crypto
- Insufficient learning resources for beginners new to crypto interest accounts
- Some popular coins aren’t supported by Crypto.com
Credit Card Purchases
0.04% to 0.4%
0.1% to 0.4%
FIAT withdrawal fees
Credit Cards fees
It may apply
Crypto.com is a cryptocurrency exchange that supports trading, investing, staking, wallets, NFTs, and more. Founded in 2016, today it serves over 10 million customers with the world’s fastest growing crypto platform.
The best crypto interest account for everyone, everywhere they are
Wirex provides one of the best crypto Interest accounts for people who are interested in investing in cryptocurrencies.
The company provides users with a simple and secure way to purchase, spend, and earn traditional currency.
It also offers industry-leading interest rates. Once a user has an account with Wirex, they can easily add funds to it. In addition, the company lets users choose a custom name for their account.
- 150+ cryptocurrencies and traditional assets available
- 24/7 expert support. Get your questions answered
- Use Wirex card in-store or online, earn up to 2% rewards
- Zero exchange fees
- Free ATM withdrawals for transactions up to $400/month
- Easily recover your wallet using biometric back-up
- Keyless entry via mobile app
- Earn up to 25% APR interest
- Easily transfer your crypto to external wallets
- No demo account for beginners
- Due to high-security standards, Wirex app sometimes blocks a user from accessing their accounts
Wirex Fees Overview
16 – 25% APR
$0 when you withdraw $400 via ATM, fees may apply for higher withdrawal amounts
No minimum, start with $1 or more
Wirex bridges the gap between the idea of decentralized currencies and the reality of fiat money. Users can configure Wirex cards to work with various cryptocurrencies, and use the card anywhere they accept Visa.
9. Midas Investments
The best crypto interest account to earn passive income
Midas Investments offers its users a crypto Interest account to earn a weekly dividend with cryptocurrencies.
There are no minimum deposits required and you can invest any amount. This service has a comprehensive list of cryptocurrencies to choose from.
You can even tailor your investments to earn a specific percent profit and reduce the risk by choosing coins with lower volatility.
The service doesn’t charge any fees for deposits and withdrawals, although you do have to pay a fee of 0.0002 BTC to transfer your crypto to a wallet externally.
- Earn 17% APY on BTC, 23% APY on ETH
- Get 100% profit on crypto assets you invest
- No lock-ups, no limits. Get rewards paid every day
- All your coins producing high yields in one place
- Get profit from the DeFi Yield vaults
- Tap into the lending a borrowing opportunity
- Earn the highest yield on cryptocurrency assets (up to 17% BTC APY)
- Cash out on passive income
- Join 6,000+ like-minded people on Discord to learn about making money with cryptos
- Get paid daily, no withdrawal limits or lock-ups
- Fees for your crypto portfolio is a bit higher (5.8%) compared to NEXO
- No Insurance cover on your deposits. This could be risky for your funds
Midas Investments Fee Structure
Up to 17% APR
Deposit fee: 0%
Withdrawal fees: $10 – $100 depending on the amount
10. Binance Earn
A leading crypto interest account for security and guaranteed principal
Binance Earn offers you a crypto interest account, which is a convenient way to earn interest from your crypto investments.
This program offers an attractive 35% APR interest for some popular cryptos like Bitcoin and Ethereum.
You can even choose to hold your cryptocurrencies for the long term to enjoy even higher interest rates.
To get the most out of your investments, you should invest in products that offer a fixed deposit option.
- A return on your Principal guaranteed
- Compound your cryptocurrency holdings
- Start staking with only 10 USDT
- Earn high returns in form of new tokens
- Zero fees
- Earn interests up to 35% APR (with stablecoins)
- A wide range of cryptocurrencies to profit from
- Binance Earn is safe and secure for investors
- Get started with as little as $1
- A lock-in period of 1 year
- The KYC process is the hardest among all crypto exchange platforms
Binance Earn Fees
Up to 35% APR
Binance is the world’s leading cryptocurrency exchange. Their vision is to increase the freedom of money globally. They believe that by spreading this freedom, they can significantly improve lives around the world
A better crypto interest account for beginners
CoinLoan is a crypto lending platform that offers a secure and versatile environment for investors.
The service allows users to borrow up to 70% of the value of the collateral and keeps a 30% reserve for market fluctuations.
While it does not offer high rates, it’s a great way to start earning interest on your coins. In addition to its 12.3% APY, CoinLoan also offers flexible repayment terms.
When the collateral values drop below the loan amount, CoinLoan sells the coins immediately and returns the funds to the lending account, including the interest.
- Solid security for your funds
- The funds are covered by Insurance
- Borrow, swap, and grow your cryptocurrencies
- There are no deposit and withdrawal fees
- CoinLoan is a licensed and regulated company
- Get paid up to 12.3% APY interest on your deposits
- Hold your crypto assets and get paid daily
- Deposit and withdrawal fees: 0%
- You can easily withdraw your money at any time
- The customer support can be more responsive
- The platform requires a learn curve
Starting at 4.5%
COLD crypto storage
$4 – $35 (depending on the volume)
Best crypto interest account to grow your digital assets
Ledn is a blockchain-based crypto lending platform, offering users a crypto interest account with daily payouts.
A Ledn crypto interest account offers interest rates up to 8.9 – 10.9% on your cryptocurrency. The best part is that there are no minimum balance requirements and no fixed terms.
This means you can withdraw your coins anytime you want. You can also use your account for other investment options.
Depending on your needs and goals, you can create and manage your own account and choose the amount of money you wish to invest.
- Multiply your Bitcoin funds with B2X
- Get paid up 8.9% to 10.9% APR
- Earn interest on your crypto deposits
- Easy access to dollar loans
- Get loans to secure more Bitcoin
- Ledn has a clean and easy to use dashboard
- Easily earn up to 9.25% interest on Bitcoin in passive income
- Get paid monthly
- Increase your earnings with compounding interest rate
- Interest rates are low compared to NEXO and VAULD
- It currently supports only Bitcoin (BTC)
Ledn Fees Overview
8.9% – 10.9% APR
Transaction fees may apply
No minimum, start with $1 or more
The best crypto exchange account to build your crypto portfolio
Gemini is a popular crypto exchange platform, with added interest accounts that pay out good yields.
Gemini is available in 60+ countries and has a clean user interface.
With the Gemini Earn, you can store your crypto and earn interest on it. This allows you to move your crypto holdings to a separate account for earning interest.
You can trade your crypto against another cryptocurrency or withdraw them into fiat. Then, you can redeem your accumulated gains to use them for buying other cryptocurrencies.
- An easy-to-use digital wallet for users
- 50+ Crypto-to-Crypto trading pairs
- Gemini Earn pays up to 7.4% APY
- A powerful mobile app for both iOS and Android users
- Peer-to-Peer crypto trading with zero-order size
- Profit from 50+ crypto assets
- Use the mobile app to deposit and earn interests on the go
- Your crypto assets are safe and protected against exchange hacks
- Gemini is regulated and available in all U.S. states
- The transaction fee (0.5% – 3.9%) is high, compared to Binance
- BNB, CRO, and other popular cryptocurrencies aren’t supported
$0.99-$2.99 fee for web and mobile transactions between $10 and $200 (1.49% fee for transactions over $200)
Debit card transfers
Gemini is a regulated cryptocurrency exchange, wallet, and custodian that makes it simple and secure to buy Bitcoin, Ethereum, and other cryptocurrencies.
A popular crypto exchange platform to stake and earn up to 5% APY
Coinbase is a trusted crypto exchange and lending platform. With the Coinbase crypto interest account, you can earn up to 5.0% APR on your crypto assets.
You can withdraw funds from your Coinbase wallet to a bank account with ease.
Coinbase has a wide collection of crypto assets you can deposit and interest good yields from.
It’s easy to start using Coinbase. Simply sign up for a free account. Then you need to confirm your age and address. A registered user can verify their phone number by entering a code sent to them via SMS.
- Earn 5% APR on your cryptocurrencies
- The Coinbase app lets you track your crypto investment on the go
- 50+ cryptocurrencies to invest in and earn interests from
- An easy trading interface
- Next-level security for your crypto funds
- Get paid up to 5% APR on your crypto assets
- Coinbase offers an easy process to deposit USD
- Earn up to $16 free crypto when you sign up
- Easily schedule daily, weekly, or monthly crypto buys
- A learning resource center with articles, guides, and videos
- The fee structure isn’t straightforward
- Fees are a bit high when compared other crypto interest accounts
Coinbase Fees: A Breakdown
$0.99 – $2.99
Coinbase Pro fee
0.50% (lower fees)
US Bank Account payment
1.49% (conversion fee)
Debit card purchases
Instant Card Withdrawal
Up to 1.5%
16. Outlet Finance
The best crypto interest account app that gives you high yield
Outline Finance app offers a rewarding crypto interest account. The platform offers a great way to invest in the future of digital currency.
You can earn up to 9% APR on your crypto deposits.
The best accounts cater to the needs of individual users, including security, privacy, and convenience.
The benefits of investing in these digital assets are countless. One of the best benefits of these accounts is their low risk.
Unlike a bank, you can withdraw funds at any time without a fee. There are several things to keep in mind before making a decision.
- Funds are stored in encrypted wallets
- Earn interests, up to 9% APR
- Compounding interests, paid out every month
- Deposit up to $25k per week
- No withdrawal limits
- Outlet has a simple user interface
- Earn 50% more than a traditional bank account
- Start earning interest with just $1 deposit
- Enjoy zero maintenance fees
- Your interest rates are tied to the performance of a digital asset, not the true value
- No FDIC coverage
Outlet Finance Fees: A Breakdown
Up to 9% APR
What Is a Crypto Interest Account?
Crypto Interest accounts are investment vehicles that earn a return for users who hold their cryptocurrencies.
This type of account earns interest when a user with Bitcoin, for example, lends their cryptocurrency, or altcoins, to borrowers.
Unlike a traditional bank or credit union, there is no central authority or bank that makes decisions for you. Most of these crypto interest accounts are managed by decentralized platforms.
You can withdraw your accumulated interest daily, weekly, or at the end of a defined period. However, there are risks involved, as with any type of investment.
Benefits To Open A Crypto Interest Account
Here are some of the main benefits why you should consider opening a cryptocurrency interest account.
1. Attractive interest rates
When you deposit crypto funds into your crypto interest account, you earn interest rates compared to banks and other financial institutions.
That’s why cryptocurrency savings accounts are getting more popular by the day.
Studies by Credmark show that the crypto lending and interest account have reached $8 billion as of Q4 2019.
The good news is that most crypto interest accounts charge zero fees or minimal fees.
2. Low transaction fees
Low transaction fees are one of the exciting reasons to get a crypto interest account.
You can sign up with BlockFi or any other crypto platform that offers low or no transaction fees whatsoever.
Traditional banks charge high transaction fees, depending on the type of transaction you’re making. That’s why crypto-based savings accounts are a delight to investors.
3. Earn profits with digital bank accounts
If you do thorough research, you’ll notice that a lot of crypto exchange platforms allow you to use a digital bank account for cryptocurrency deposits, withdrawals, and all of that.
According to Fortunly, 200 million+ people preferred a digital bank account in 2020.
Digital bank accounts are versatile. Crypto investors can take advantage of it to reduce fees, maximize profits, exploit flaws in the cryptocurrency markets to make more money.
4. Global accessibility
You can open and use a crypto interest account from anywhere in the world. You can choose to use any cryptocurrency asset, and the interest rates are often very reasonable.
Whether you live in America, Europe, Asia, or Africa, there’s a crypto exchange platform out there that offers interest accounts to suit your specific investment needs.
How Crypto Savings Account Work
A crypto savings account works in much the same way as a traditional bank account.
It allows account holders to deposit funds in a digital coin and lend it to the institution for use as collateral for loans.
This process is relatively secure because the crypto assets are used as collateral.
Most loan providers require a loan-to-value (LTV) ratio of 50%.
For example, if a borrower wants to borrow $1,000, he will have to deposit $2,000 in bitcoin or any other acceptable coin.
The first advantage of a crypto savings account is its ability to provide an automated means of growing one’s crypto portfolio over time.
Not only can you earn interest on the funds in Bitcoin and other digital assets, but you can also exchange fiat currency for cryptocurrency and vice versa.
This increased liquidity leads to more stable prices for an asset, and the longer people hold it, the more incentives they have to get it into the market.
This helps innovation and adoption.
Pros & Cons of Cryptocurrency Savings Accounts
In this section, let’s briefly talk about the pros and cons of cryptocurrency savings accounts.
- Earn high-interest rates on your crypto deposits
- Profit from currency appreciation, and earn passive income
- Crypto interest rates are often more flexible than bank savings accounts
- Get paid daily, weekly, or monthly. Only a few exchanges use lock-up terms
- Most savings accounts are not optimized for tax reporting
- Deposit and withdrawal fees may be high
- Most crypto savings accounts are not insured
- You could lose your crypto deposits
How to Get Started with a Crypto Savings Account
It’s easy to get started with a crypto savings account.
News users may be required to go through an extensive “Know Your Client” (KYC) process to comply with government regulations and prevent fraud.
Some other crypto savings accounts may not require this process — so you can deposit your crypto asset today and start earning interest tomorrow.
Here are some essential details to supply when signing up:
- Your full name and date of birth
- Your phone number and email address
- Your physical address
- Your Social Security number (for US-exclusive crypto exchanges)
- A government-issued ID (e.g., passport, driver’s license)
Once the signup process is done, you can log into the dashboard.
Next, add a suitable payment method (PayPal, credit cards, Bank transfer) to deposit funds and start earning interest up to 20% APR.
Crypto Savings Account vs Crypto Wallets
What’s the difference between a cryptocurrency savings account and a crypto wallet?
The main difference between a crypto savings account and a crypto wallet is that the former can earn interest over time.
A crypto savings account will accrue interest — up to 20% APY and will be paid out daily, weekly, or at the end of the loan term.
On the other hand, when you keep your Bitcoin, for example, in a crypto wallet, you’ll have keys that only you have access to, and your cryptos will not earn any interest.
If you stored 10 BTC in your wallet, it’ll remain 10 when you’re ready to withdraw it.
Crypto Savings Account vs a Traditional Savings Account
A Crypto Savings Account (CSA) is an online account where you can invest in popular cryptocurrencies.
These accounts provide a high annual percentage yield and some are backed by the FDIC, which means that your funds will be safe from the risk of losing value.
A traditional savings account allows you to withdraw money at any time, but a crypto-based account may have withdrawal limits.
Withdrawals are typically limited to a specified period of time. In addition, withdrawal fees may add up if you are a serious crypto trader.
Therefore, it’s important to check your policy before deciding on a crypto-based account.
A crypto savings account requires depositing funds and earning APY (Annual Percentage Yield). The APY varies from account to account, depending on the type of deposit and time of year.
CoinRabbit, for example, offers 10% APY each month. Although these accounts offer high APYs, they come with inherent risks, including the lack of easy withdrawals.
How to Choose a Reliable Crypto Savings Account
When you’re ready to sign up and start using crypto interest accounts, there are certain factors to consider.
This will completely minimize the chance of losing your money and give you the best interest rates for your deposits.
A crypto exchange platform that offers a savings account should be transparent, authentic, and safe to use. The best crypto interest accounts are provided by companies that communicate with their users.
All the fees should be specified at the point of signup. Any other charges and conditions must be clear as well.
If there are changes in fees, for some reason, the company should provide helpful updates to its community via Twitter, Discord, or any other platform.
2. Track record
It’s important to know the track record of the interest accounts provider before investing with them.
Do they pay out interests regularly? Has there been consistent growth over time?
What about security breaches? Don’t jump in with your deposits. Start by knowing who is behind the company, and their motivation.
3. Understand insurance
How safe is investors’ funds. When you deposit your crypto to earn interest, will you be compensated if anything goes wrong?
Keep in mind that most deposits in crypto interest accounts aren’t FDIC insured.
That said, your funds should be kept in a thoroughly vetted crypto interest account.
To be on the safer end, stick with a proven and popular crypto exchange platform that offers interest accounts, such as Nexo, Binance, and Crypto.com
4. Security protocols
Make sure you understand the security protocols of the platform you wish to invest your crypto funds with.
Hackers are lurking around, so keep your funds safe with a crypto savings account that uses solid security features.
When you invest cryptos into your interest account, these digital assets are given out as loans to borrows in exchange for agreed interest rates.
This illustration by Wirex shows how collateralization works:
The borrow will secure their loans when they deposit a crypto asset into their account, which should be 2X bigger than the loan value.
This is how collateralization works, and it powers crypto lending. Choose a crypto savings account that uses this proven collateralization method to get loans back.
Start Earning Passive Income with Cryptocurrency
To start earning passive income with cryptocurrency, you need to deposit your funds to the appropriate protocol or platform. Then, you can earn interest.
These earnings are known as APY, or annual percentage yield. These payments are similar to those of a traditional bank account.
The best part about these investments is that they don’t require you to invest much.
You can start by buying a small number of coins and holding them for a few months to see the initial results.
You can also trade these coins and earn interest for several years.
Crypto Savings Accounts – FAQs
Let’s answer some of the frequently asked questions about crypto savings accounts.
Best Crypto Interest Accounts – Summary
There you have it – my ultimate comparison review of the best crypto interest accounts.
Crypto interest accounts provide a new profitable way to earn interest on crypto assets (such as Bitcoin, Ethereum, DogeCoin) that you have purchased.
Don’t just choose any crypto platform, I have provided the best crypto interest accounts that pay out great interest rates for your deposits.
Here are my final recommendations:
- Nexo – Best for high interest rates (up to 20%)
- Binance Earn –
- Hodlnaut – A better option to earn good yields on your BTC, ETH
Now I’d like to turn it over to you:
What crypto interest accounts do you want to use?
Did I miss out on your favorite crypto interest account platform here?
Either way, let me know by leaving a quick comment below right now.
Further reading on navidm.com: To dive deeper into the world of cryptocurrency, you can check out my in-depth guides to the best cryptocurrency exchanges, the best crypto lending platforms, as well as the best crypto tax software.
If you are interested in NFTs, be sure to check out my complete guides to the best NFT marketplaces and best NFT wallets.