What exactly does passive income have to be with cryptocurrencies? What is a crypto saving account interest anyways? Will you need to get a Ph.D. to understand this madness? The answer to the last question is absolute no. Today, we introduce you to the world of passive income through crypto and saving account interests. By the end of this article, you will understand its meaning and have a general idea if you are considering starting. Without further ado, let’s get started!

KEY TAKEAWAYS

  • There are lots of ways to generate passive income, and crypto interest accounts are one of the bests in decentralized networks.
  • Crypto interest accounts work similar to regular interest accounts, with several additional perks.
  • Celsius, Voyager, BlockFi, Coinbase, Nexo are some of the centralized platforms that offer crypto interest accounts with different rates.
  • When choosing a platform for a crypto interest account, it is important to evaluate the variety of cryptocurrencies offered, as well as compare interest rates. This determines how broad a financial portfolio you can create. 

There are many different options for getting a centralized crypto interest account. Different platforms offer different opportunities, and they may vary according to the requirements and interest rates offered. The average interest rates are typically between 6% and 9%, so how much you will gain greatly depends on how much you invest.

In the continuation of the content, we will tell you about the centralized cryptocurrency platforms that offer the best APY rates. If you’re curious about decentralized DeFi saving accounts APYs, head over to our related content now!

Celsius

Pros
  • The platform has many DeFi services such as crypto buying, selling, swapping, staking, borrowing.
  • The maximum APY rate can go up to exactly 17 percent.
  • Those in need of cash can get crypto-backed loans with just 1 percent APR.
  • CEL token holders can profit from extra rewards.
  • By using the platform’s native algorithm CELPAY, you can transfer quickly, free of charge and easily.
  • Storing your assets in Celsius Wallet is always an advantage. Because the platform offers up to 30 million dollars of insurance to assets for wallet holders.
  • Celsius is legally accessible in 150 different countries. Moreover, users can access their funds via desktop, iOS, or Android apps.
  • No fee is charged from users for minimum balances, loan origination, or transfers.
Cons
  • Buying and selling transactions are carried out with third-party crypto exchange integrations.
  • The number of supported coins traded on the platform is quite limited.
  • The platform is not legally available in the US.

One of the most well-known platforms for crypto-saving account interests is Celsius. The interest rate for Bitcoin is 6.2%, which is a considerable amount, especially when you compare it to the other platforms.

Moreover, Celsius allows users to gain money in interest in over 25 cryptocurrencies and over ten stable coins. One thing to note here is that Celsius refers to the earnings you got out of interest as “rewards,” and the procedure is not the same for US and non-US citizens. For non-US citizens, it is possible to become a loyalty tier in Celsius, which depends on your cryptocurrency portfolio.

Voyager

Pros
  • More than 100 cryptoassets are supported on the platform.
  • You can earn up to 12% APY with your crypto investments.
  • You can manage your account not only from the desktop browser, but also from the mobile app.
  • The assets you keep in your wallet are FDIC-insured.
  • You only need $10 to open an account.
Cons
  • The verification process for transactions and opening an account is quite long.
  • It is not possible to trade coin-to-coins.
  • The offered wallet does not allow you to store your assets in a self-custody manner. Control of your private keys and assets is on the platform.
  • The platform does not have live phone support.

Voyager is a very much attractive platform for those who want to start a crypto interest account. You can choose among over 50 different cryptocurrencies to start your crypto-saving account, and no fees will be withdrawn from you as you put your savings there. It is known for being a beginner-friendly platform for saving account interests. Here’s a bonus: Voyager is legally available in the USA in all states except New York.

Aqru

Pros
  • Investors can earn up to 12% APY from their crypto.
  • No fee is charged when purchasing crypto.
  • Every user can try a new account absolutely free. Aqru offers a bonus of 10 USDT to new users.
  • You can get interest on USDT, USDC, DAI stable coins, Bitcoin and Ethereum non-stable coins. Moreover, the earning rate for Bitcoin and Ethereum is exactly 7%.
  • As the deposit rate increases, the interest rates also increase very rapidly.
Cons
  • You have to pay a $20 fee to withdraw funds.
  • The number of supported coins is quite small.
  • There is no user-friendly feature where users can review their earning history.

Aqru, which does not have any lock-in period and allows users to easily withdraw their funds to their personal accounts, has been getting more and more popular lately. Aqru is also a good option for those who want to earn their interest income daily, not monthly or yearly. Moreover, the platform offers investors financial freedom as it allows earning APY from both stable coins and non-stable coins.
You care that the crypto saving account you will choose is promising and reliable, don’t you? Aqru can be advantageous in this regard. Because the platform partners with companies such as CoinMarketCap, MoonPay, GitHub, FireBlocks, WinterMute, Onfido.

Hodlnaut

Pros
  • Investors do not have a minimum lock-in period limit to gain interest.
  • There is no minimum withdrawal limit.
  • You can withdraw money once a month absolutely free.
  • Users receive $30 as a sign-up bonus.
  • Users can earn up to 12.73% APY.
Cons
  • The more assets you have, the less APY you will earn. For example, while the APY rate for the first 0.5 BTC is 6.71%, the APY rate between 0.5 and 2 BTC is 4.08%; The APY rate between 2 and 5 BTC is 3.25%; The APY rate for 5 BTC or more is 1%.
  • The withdrawal fee is 0.00004 BTC.
  • The variety of coins offered is limited.

Hodlnaut is a decentralized finance platform that has been in service since 2019. Users can check their accounts and review their earnings at any time via the Hodlnaut mobile application.
Bitcoin, Ethereum, DAI, USD Coin, Tether, Wrapped Bitcoin are among the coins you can choose to generate income through interest accounts on the platform.

Vauld

Pros
  • Investors can earn up to 12.68% APY.
  • The platform allows you to earn interest income on a total of 100 different coins, especially Bitcoin, Ethereum, USDC, USDT, Ripple, DAI.
  • Interest earnings are calculated daily and paid weekly on the platform.
  • Users can opt for fixed-term deposit to earn higher amount than standard saving rate. But in this case, they should lock their assets for at least a month.
  • Transaction fees are very low.
  • The platform includes automatic investment plans.
  • Available as mobile app both for Android and IoS.
Cons
  • When they do not deposit their money as a fixed-term deposit, the APY rates that users receive can be quite low.
  • Activity bonuses are distributed from time to time for active users.

Vauld, one of the very popular CEFi platforms, offers a choice between a saving account and a fixed-term deposit. Users who do not want to lock their money for fixed-term can get 1-2 percent less APY, while for a fixed-term deposits, these rates can go up to 6.70%. Moreover, there are even CHAINLINK, UNI, SUSHI, XRP, MAKER among the supported coins!

Nexo

Pros
  • If you want to get a loan in crypto money, you can show 38 different currencies collaterally.
  • In saving accounts, APY rates can rise up to 17 percent.
  • Nexo is a platform that you can access not only from the browser, but also from your IoS and Android mobile devices with the app.
  • Nexo is proving its platform reliability by offering investors $375 million worth of insurance.
  • Unlike other platforms, it is possible to withdraw and deposit money at any time.
  • Users who want to borrow cash or stablecoins can do so completely without interest.
  • The cash that can be borrowed can be a minimum of $50 and a maximum of $2 million.
Cons
  • You are not allowed to gain interest from unstable coins on the platform. This prevents you from making money from cryptos with rising charts.
  • The Nexo’s interest average is slightly lower than its competitors.
  • Compared to competing crypto saving interest platforms, we see that Nexo’s educational resources are lower.
  • There are various limits on withdrawals.
  • NEXO token holders enjoy extra benefits. For those who do not hold this token, the odds are not very advantageous.

Nexo offers an innovative way of crypto saving account interests through daily interest payouts. Nexo, a centralized crypto-saving account platform, stands out not only with its account services but also with its debit card options. Trading fees on the platform are just 0.2 percent when trading. This is a good ratio compared to competitors. When you want to withdraw your funds, you have to pay 23.2 NEXO as a fixed amount.


Founded in 2017, NEXO had to wait until 2021 to reach its popular days. But now the number of users of the platform has exceeded one million and he manages 55 billion ZAR in assets in his treasury. The platform uses the Ethereum blockchain to secure funds.

BlockFi

Pros
  • There is no minimum assets rule for opening an account on the platform.
  • As an investor, you are entitled to one free withdrawal per month.
  • You can earn up to 11% APY with your crypto assets via BlockcFi. Considering that the platform has given out 700 million dollars in rewards so far, the process will be quite safe.
  • BlockFi Trading allows you to easily buy and sell crypto without having to rely on any third party apps.
  • Investors can offer loans to users who want to borrow crypto in the ecosystem with APR rates starting from 4.5%.
  • You do not pay commission fees or monthly fixed costs when trading on the platform.
Cons
  • You cannot open a custodial or joint account on the platform.
  • If you have a crypto account that you are interested in, you can withdraw money from each cryptocurrency once a month.
  • When withdrawing money, the fee is calculated in the cryptocurrency you withdraw. This sometimes leads to exorbitant costs.
  • No FDIC insurance is provided for the assets of the investors.

BlockFi is another popular platform for crypto saving accounts, but not for its high yields; because they are not high when you compare it to the market. What makes BlockFi popular is its reliability and safety. The platform supports saving accounts for both cryptocurrencies and stablecoins. There is no lock-in period, and the withdrawals are flexible. For an additional reward, it is possible to benefit from monthly compounded interest. BlockFi, which has partnerships with platforms such as Valar, Galaxy, Coinbase, is a fully regulated centralized platform. So it’s a good starting point for those who want to enter the crypto world but are afraid of DEXs.

Coinbase

Pros
  • Coinbase offers APY for USD Dollar Coins for US-based customers. The interest rate that can be earned can increase up to 4%.
  • Since Coinbase is also an exchange platform, it is really easy to earn interest income from some of your assets and continue trading with the other part.
  • Coinbase users can protect their assets from the volatility of the crypto money world by using USD coin. USD Coin is a stablecoin whose value is pegged to 1 USD.
  • There are Level 2 user accounts on Coinbase. If your account is a verified Level 2 account, you will receive rewards for each USDC you hold in your wallet.
  • Many methods such as US Bank, Coinbase wallet, debit card, PayPal, Apple Pay, Wire Transfer are supported for deposit and withdrawal on the platform.
Cons
  • Coinbase does not offer FDIC-backed insurance for investors’ assets.
  • USDC APY rates offered for Level 2 accounts were 1.25%, while current rates hover around 0.15%.
  • Compared to Kraken and Binance US, the trading fees of the platform are slightly higher. 0.50% spread is requested for buy and sell transactions. The transaction fee ranges from $0.99 to $2.99.

Coinbase is usually known for its relatively high fees, but it offers a really good deal when it comes to crypto savings accounts, especially with its user-friendliness and security. The savings you have within the Coinbase platform will be protected through FDIC insurance. That means, if Coinbase gets bankrupt in a scenario, you will be able to cover your loss up to 250.000 USD. But this will not be applicable for crypto-asset balances.

For interest-earning options, Coinbase offers 6 cryptocurrencies. The APYs are found to be lower than the average market price. The withdrawals are flexible, and the interest payout frequency is daily. The interest rate for cryptocurrencies is up to 4%.

Crypto.com

Pros
  • There are customizable periods for lock-in. For example, you can lock your asset for three months, one month or one year.
  • The platform, which is audited by institutions such as Kudelski Security and NIST Cybersecurity, offers users a safe space.
  • You can use DeFi wallet, get interest income or benefit from swap services on Crypto.com.
Cons
  • You can deposit a maximum of 500,000 USD on the platform. This is not a very good feature for big investors.
  • If you do not hold a CRO, transaction fees can be very high.
  • There are many users complaining about customer service.
  • There are various discounts on the trading fee, but it is really complicated to calculate them.

Crypto.com, one of the most popular crypto saving account providers in the world, allows users to earn interest income up to 14.5%. In stable coins, it is possible to get up to 10% p.a. So what about the most popular coins?
6% APY return for BTC, 6% for ETH and 10% for USDC stablecoin. Moreover, Crypto.com supports many more coins compared to its competitors promising higher APY revenues than itself. More than forty assets on a single platform.

One of the popular features of the platform is the weekly payment of rewards. In this way, you do not have to wait for months for the growth in your wallet. Moreover, thanks to the mobile app it offers, the platform enables users to access their assets whenever they want.

Gemini

Pros
  • Gemini has released GUSD (Gemini Dollar) as its native token. GUSD is a stable coin and its value is pegged to $1. If users want to stake their coins to earn APY but are afraid that the volatility of the related coin will affect the revenue, they can opt for GUSD.
  • There is no minimum amount limit, transfer or withdrawal fee required for withdrawals.
  • Your accounts are protected with 2FA, which means a more secure asset management.
  • Gemini, primarily in the U.S. It provides service in many parts of the world, including state, Singapore, and Hong Kong.
  • Because it is a decentralized platform and holds custody, Gemini keeps its assets in an air-gapped Cold Storage system for added confidence. This means that a large part of users’ assets can be protected in an attack on hot wallets.
Cons
  • Depending on the payment method you prefer on the Exchange platform, the fees vary between 0.5% and 3.99%. These are very high rates.
  • It is not possible to get more buying power by opening a margin account at Gemini.
  • Investor assets are not guaranteed by the FDIC or SIPC.
  • Customer service is limited to email contact. This causes urgent requests to be unanswered.

Gemini Earn is the service that allows users to gain interest on their crypto. Investors can earn up to 8.05% APY using Gemini. Moreover, before you start, you can calculate your potential earnings from the “Calculate Your Earnings” field on the website.

The crypto asset Gemini offers the highest APY is 1inch. The APY rates for the holders of this asset increase up to 8.05%. The platform offers 1.26% APY for Ether, 1.51% for Litecoin, 5.33% for Bitcoin Cash, 1.01% for Bitcoin, and 1.01% for Uniswap. You can find all APY information on the platform that allows you to earn APY with 15 different cryptocurrencies.

Having Crypto Saving Accounts on Traditional Banks

Many traditional banks, as well as centralized financial institutions, allow people to earn interest and generate passive income through crypto.

Here is a brief list of crypto-friendly banks. To learn better their services, just call them:

Bank ProvProvides Bitcoin and Ether backed lending
RevolutOffers APY from 0.05% to 0.07%
Ally BankAllows investment in crypto funds
USAAHas an integration with Coinbase
NURIOffers Bitcoin interest accounts
WirexSupports more than 100 cryptocurrencies

You may be already involved in interest accounts in the fiat currencies, and it may not feel like a “passive income” to you because a 1% interest rate a year is not something you can count as an income. The thing is, the interest rates in cryptocurrencies are astronomical when you compare them to the cases in the cryptocurrency world, especially if you prefer DEX and DeFi apps for that. You may be wondering, why on earth crypto interest accounts aren’t everywhere if the interest rates are that high? First, it is more common than you think, and second, a technology that changes markets and profit margins so quickly take a while to break down monopoly.

How to Earn Interest on Crypto Saving Account Interests?

Even though all platforms vary in different aspects, the general frameworks of earning interest on crypto saving account interests are similar. The following are the general steps you need to take to start earning interest on crypto saving accounts:

  1. Find a good platform and open your account.
  2. Learn about interest rates and compare them.
  3. Choose the best option for you.
  4. Add cryptocurrencies to your portfolio.
  5. Then, you can start earning interest.

What Should you Know About Crypto Interest Accounts?

If you understood how to make passive income through crypto-saving account interests, let’s talk about what should you expect and know before you decide to take a step down this road. Let’s take a look at them together.

The Interest Rates are very High – For a reference point, you should note that a typical savings accounts’ interest rate is around 0.06%. The interest rate can go up to 17% in the crypto world. The difference is more than astronomical, and that’s why crypto savings account interests is an excellent way of generating passive income.

There are Risks Involved – Even though the interest rates are high, you should note that cryptocurrencies can gain and lose value within seconds.

You can get Additional Incentives – Depending on which institution or platform you are creating your interest account, you may get other incentives rather than just your interest rate. For example, some platforms offer various transaction fee campaigns for native token holders. In DEXs, on the other hand, native token holders can participate in the decision-making processes of the platform. Taking advantage of airdrops periodically can be another potential advantage.

How to Choose a Platform to Have a Crypto Saving Account?

We have mentioned that there are various platforms you can choose from when it comes to crypto-saving accounts. If you are considering generating passive income through crypto-saving accounts, you should be able to ask the right questions before you start. The following are some of the most critical questions you need to get the answers for to choose your platform:

  • How secure is the platform? Research the encryption protocols the platform uses. Also, platforms that support authenticated log-in with 2FA may be more secure for you.
  • Does the platform offer insurance? Both official and centralized institutions and insurance protocols serving in the DEX world can provide insurance for the assets of investors on a particular platform.
  • What are the interest / APY rates? What will be the annual APY rates for your locked assets? This is the main factor that determines your earnings. Of course, APY rates vary, but platform policy and the values of the staked token can largely determine this.
  • Are lock-up periods flexible? It can be difficult to determine how long you need to lock in your money to earn interest income. Does the platform offer flexible options for this? Or, for example, do you need to lock for at least a year?

Should I put my savings in crypto?

The crypto market is a very fluctuating one, so in that case, it is not typically recommended for people to put all their savings in crypto. However, if you have enough knowledge and know the market well, putting some of your savings in crypto might be a good idea. This is not investment advice.

Can you earn interest in crypto?

It is possible to earn interest in crypto. You can create a crypto interest account and even generate a passive income through it. The interest rates are pretty much high when you compare them to the traditional ways of interest accounts. There are platforms where you can get up to 17% interest. Considering that the average savings account offers a 0.06% interest rate annually, this rate is astronomical.

Are crypto interest accounts safe?

There are different risks involved in crypto interest accounts. Financing cryptocurrencies carries its own set of hazards, so it’s inevitable for them to be riskier in comparison to a regular savings account. Most of the profit you will make will come from the price fluctuation of the currency you’re earning interest on, so when the prices of that specific coin go down, you are at an automatic risk to lose money.

Can you lose money in crypto interest accounts?

A crypto-based savings account is not covered by federal insurance. This savings account has the possibility of losing money (or cryptocurrency). When you consider this detail, it makes much more sense to think of crypto interest accounts as a way of investment rather than thinking of it as a savings account with no risks.