Last Update september 2020
This cryptocurrency interest account comparison table is intended to provide you with a quick overview of what kind of yield (APY) you’ll find with the different custodial interest account providers. Crypto interest accounts are also known as crypto saving accounts.
Our crypto interest comparison table allows you to quickly filter out the best Bitcoin (BTC) interest rate today on the market.
Before we get started , a quick note about custodial crypto interest accounts:
- Custodial platforms do take control of your assets similarly to a traditional bank. You cannot compare this to decentralised finance aka DEFI and the yields offered through DEFI. The main difference is that with DEFI there is no third party risk, however you are at risk when it comes to the security of the smart contract.
- With custodial services on the other hand, you are entrusting your funds with a third party.
We are currently comparing interest rates from BlockFi, Celsius Network, Youhodler, Bitwala, Nexo, Ledn, and Crypto.com. We will continue to add platforms as we go along.
Best Cryptocurrency Interest yields 2020 - Table
How to use the filter functions of the crypto interest comparison table?
- Use the search box to easily filter the cryptocurrency you want to compare by introducing the ‘ticker symbol’. Example introduce, BTC for Bitcoin, BCH for Bitcoin Cash, ETH for Ethereum, and so on.
- You can also use the search filter to get all the rates for a specific platform. Example: Celsius or BlockFi,
- Click on any of the main categories in order to filter them alphabetically or from highest to lowest or lowest to highest.
How to compare crypto interest account providers!
Ask the right questions!
Does the 'interest providing platform' have solid financials, partners, and so on?
While earning high-interest yields with cryptocurrencies is extremely attractive in this low-interest environment, this only remains true as long as your principal amount is being safeguarded. In other words, you should be confident enough that the platform you are using will be a good steward with the use of your funds. In other words, you should do some homework and check who is backing the project, figure out if they are running a profitable business, and so on.
Other relevant features to compare between the different interest providers
- Deposit schedule:
- when will your interest on your crypto be paid out? Many platforms offer weekly or even daily payouts
- Lockup period:
- Ideally, you should be able to withdraw your funds at any time, however, do not that some platforms require you to lock your cryptocurrency funds for a certain amount of time
- Minimum deposit:
- Some platforms will require a minimum deposit amount, so do check the terms and conditions on this.
- Built-in Exchange?:
- It can be nice to have the option to immediately exchange your cryptocurrencies straight away within the platform. (ex:BlockFi)
- Web or App (or both):
- Some platforms only offer the service through an app, others only web. While it might seem trivial to some, you might have a clear preference, so do take it into account.
- Options to fund your account:
- If you want to fund your account with Euros or Dollars straight from your bank or through a credit or debit card, you might want to be mindful of the costs that come with that. In many cases, you could be paying 5% of your deposit, so be careful to understand which interest provider will be providing you with the best kind of fiat onramp for you!
- If you already own cryptocurrency, then the process is more straight forward as you usually only pay for the network cost of the blockchain transaction, when you transfer your funds.
Crypto Interest Accounts & Comparing rates
While we’d hope you have found our crypto interest rates comparison table convenient, the main takeaway of course should be that it would be wise to compare more than just the rates which are offered.
So, while earning interest again on your capital is an exciting new opportunity, you should be aware that this is a new industry and you’d want to choose a platform that has solid fundamentals, is transparent, good industry partners, and so on.