Earlier this past November, the crypto market saw Bitcoin steadily hit the $60,000 mark shortly after Fed Chairman Powell confirmed he had no intention of banning crypto trading.If you are an investor and want to earn a substantial passive income from your cryptocurrency, in that case, you should learn about crypto savings accounts right now with us.Below we will provide information about the TOP 10 Crypto Savings Accounts with high APY coin for you.
- Yield.app – Best Overall
Yield.app offers a minimum of 8% APY, and you can withdraw whenever you need it 24/7.You can earn up to 18% profit through Yield.app Rewards and Loyalty program. The platform collects no fees, requires no deposit, and pays daily interest.Stay safe: The YIELD app is managed by a team of experienced experts in capital markets, FinTech, cybersecurity, and crypto, operating under a European virtual currency and custodian license.Insurance account: In addition to audited security infrastructure, investor assets are further protected through an insurance policy.
- BlockFi – Best for Newbies Holding USD Coins
BlockFi is a cryptocurrency management company founded in 2017. The company successfully raised $350 million in funding in March 2021 and is valued at $3 billion.BlockFi's rapid growth is due to mechanisms that pay high interest to customers' crypto-deposits.BlockFi generates interest by lending customers crypto assets for a particular time. Borrowers and institutions are verified and trusted by BlockFi. BlockFi only lends the crypto on over-collateralized terms with an automated risk management system that monitors positions 24/7.If you deposit over $100 in your BlockFi Crypto account, you will have a chance to get up to $250 in crypto interest.The specific APY (annual percentage yield) rate is as follows:
- Stablecoins: 9.5% APY
- Bitcoin: 4.5% APY
- Ethereum: 5% APY
BlockFi cryptocurrencies that provide savings and interest today are BTC, ETH, LTC, PAXG, USDC, USDT, GUSD, PAX.
- Celsius Network – Best for High Yield + Sign Up Bonuses
Celsius has a dedicated CEL token rewards program for loyal customers. Loyal customers participating in the rewards program will be allowed to join Celsius' program with the highest bonus up to 17.78%. However, Americans are not currently participating in this program.*APY for Americans is set by Celsius between 0.50%-17.78% APY.Celsius has no minimum deposit requirements for loyal customers. You just need to transfer your crypto assets to the Celsius network and receive weekly interest.
- Linus – Best for Liquidity
Linus offers APY up to 4.5%, and you can withdraw money from your Linus account at any time.The main advantage of Linus is a stable exchange rate, easy access to bonuses, and no withdrawal restrictions.Some types of crypto savings accounts will charge or limit withdrawals for a while. However, you will love Linus because it has no fees and no withdrawal time limit.Linus generates interest by lending assets to savings customers through smart contracts.
- Crypto.com – Best for Cryptocurrency Diversity
Using a Crypto.com savings account, you will earn from 3% to 14.5% APY.This type of account is great if you have a not-so-famous crypto asset portfolio because not all exchanges accept the small/rare crypto-currency you are holding. Crypto.com offers crypto savings for 26 different cryptocurrencies and 8 stable coins.November 2021, Crypto.com offers the following APY:
- Bitcoin – up to 8.5% APY
- Ethereum – up to 8.5% APY
- USDC – up to city 14.5% APY
When you use Crypto.com saving accounts, interest will be calculated daily and deposited into your account weekly. The exchange rate difference between short-term or long-term deposit terms is up to 03 months. You can withdraw any time you want.
- Nexo – Best for Rapid Payments
Nexo's notable feature is daily payments. Your interest has only a lock-in limit of fewer than 24 hours. You can earn up to 12% APY using a Nexo crypto savings account.Launched in 2017, the Nexo community has more than 1 million users and $375 million in insurance for all deposited assets. Nexo has no monthly fees, no minimum deposit limit per account.
- Outlet Finance – Best for Dealing in US Dollars
If you do not know much about the cryptocurrency market but still want to earn passive income, then Outlet Finance will be the place to make a profit of up to 6% APY.You only need to deposit in USD and get profit in USD. Outlet Finance makes a profit by converting the client's investment from USD to a stable coin, then lending it to partners on its decentralized financial system, thereby earning huge profits.The system requires a 120% deposit for each loan. If the borrower defaults, the warranty is liquidated to pay the investor. This mechanism helps to reduce risks for Outlet Finance and investors.
- YouHodler – Jack of All Trades
If you are a long-term crypto investor, YouHolder is an excellent choice to profit from the crypto assets you own.For each coin, you will get APY from 3% to 12.3%. The minimum limit for a savings account is $100.YouHolder is named Jack of All Trades because of the following benefits:
- High liquidity ratio.
- High payout interest.
- Accepts multiple cryptocurrencies: up to over 22 different types
- Interest is paid weekly.
- Gemini – Best for Security
The most significant advantage of Gemini is security. Cryptocurrencies are kept on a cold, offline wallet system. This mechanism minimizes the risk of property theft by hackers or viruses, malicious code. A tiny fraction of an investor's cryptocurrency is kept online (and has deposit insurance).You will get APY from 1.54% to 8.05%, depending on the coin you own.Interest is paid daily.
- CoinLoan – Security and Safety Runner-Up
Estonia founded CoinLoan with extremely high security and safety. CoinLoan accepts 17 different cryptocurrencies, facilitating investors to deposit savings and earn profits. APY ranges from 5% to 12.3%, and there is no minimum deposit requirement. Interest is paid monthly.ConclusionFirst, electronic savings accounts offer profits from your crypto holdings, not US dollars. These accounts should be viewed as investments rather than savings accounts. You invest in cryptocurrency and then lend your keys to a third party in exchange for interest. For example, if you've fully invested in bitcoins, you can deposit those bitcoins into a crypto savings account and earn additional interest paid in bitcoins. The profit you get will vary depending on the platform and account you choose.We hope that the above article will help you choose the most suitable investment platform!