• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The College Investor

Student Loans, Investing, Building Wealth

  • About
  • Podcast
  • Research
  • Contact
  • Save For College
      • How To Start

      • How To Save For College
      • How To Pay For College
      • What Is the Average Cost of College?
      • What Is A 529 Plan and Where to Open One in Your State
      • How Much Should You Have In A 529 Plan By Age
      • How To Use A 529 Plan For Private Elementary And High School
      • What Are Qualified Expenses For A 529 Plan (And What Doesn’t Count)?
      • The Best Brokers To Open A 529 Plan
      • Tools + Accounts

      • 529 Plans: The Ultimate College Savings Plan
      • 529 Plan Contribution Limits
      • Prepaid Tuition Plans | What To Know
      • Understanding And Using 529A ABLE Accounts
      • Using A Roth IRA To Save And Pay For College
      • FAFSA Deadlines for Financial Aid
      • CollegeBacker Review
      • Upromise Review
      • UNest Review
      • Other Options

      • Student Loan And Financial Aid Programs By State
      • The Guide To Military And VA Education Benefits
      • How To Fill Out The FAFSA
      • How To Find College Scholarships
      • The Best College Scholarship Search Websites
      • How To Find Grants To Pay For College
      • Pell Grants: What They Are And How To Qualify
      • Understanding Federal Work-Study
      • How To Use A 529 Plan If Your Child Doesn’t Go To College
  • Student Loans
      • Borrowing

        • How Student Loans Work
        • How To Apply For A Student Loan
        • How To Find The Best Student Loans And Rates
        • Best Private Student Loans Of May 2022
        • Best Student Loans To Pay For Graduate School
        • Best Student Loans To Pay For Medical School
        • Parent Loans To Pay For College
        • No-Cosigner Student Loan Options
        • Guide To Income Sharing Agreements (ISAs)
        • Best International Student Loans
      • Get Out Of Debt

        • Best Places To Refinance Student Loans In May 2022
        • Best Student Loan Repayment Plans
        • Best Student Loan Refinancing Bonuses And Promotional Offers
        • Student Loan Forgiveness Programs (The Complete List)
        • The Full List Of Student Loan Forgiveness Programs By State
        • Public Service Loan Forgiveness (PSLF)
        • Top Student Loan Scams
        • Average Student Loan Monthly Payment
        • Average Student Loan Debt By Year
      • Reviews

        • Credible Review
        • Splash Review
        • Ascent Review
        • Citizens Bank Review
        • Commonbond Review
        • Earnest Review
        • ELFI Review
        • Laurel Road Review
        • LendKey Review
        • SoFi Review
  • Investing
      • How To Start

        • How To Start Investing in High School
        • How To Start Investing In College
        • How To Start Investing In Your Twenties For 22 – 29 Year Olds
        • How To Start Investing In Your 30s For 30 – 39 Year Olds
        • How To Start Investing With $100 Or Less
        • How To Give Kids The Gift Of Stock
        • What Is Dividend Growth Investing
        • IRA Rollover Chart
      • Tools + Accounts

        • Best Online Stock Brokers
        • The Best Traditional And Roth IRA Accounts
        • The Best Robo-Advisors
        • The Best Investing Apps
        • The Best Places to Trade Options
        • The Best Places To Open A Health Savings Account
        • The Best Solo 401k Providers
        • The Best Self-Directed IRA Providers
        • Best Cryptocurrency Exchanges
      • Reviews

        • Vanguard Review
        • Fidelity Review 2022: Still One Of The Best Online Brokers
        • M1 Finance Review
        • TD Ameritrade Review
        • Charles Schwab Review
        • Robinhood Review
        • Webull Review
        • Betterment Review
        • Wealthfront Review
  • Earn More Money
      • Extra Income

        • 15 Best Side Hustles You Can Start Earning With Now
        • Side Hustle Ideas: 50+ Ways To Make Money Fast
        • 100+ Real And Honest Ways To Make Money In College
        • 80 Ways To Make Money From Home (In Your Pajamas)
        • 5 Quick Money Making Ideas (That Take Less Than 1 Hour)
        • 10 Interesting Ways You Can Make Money Driving
        • High-Paying Side Gigs That Earn $1,000 or More Per Month
        • The 10 Best Money-Making Apps
        • Paid Surveys: Earn Money For Giving Your Opinion Online
        • 10 Crazy Ways To Make $10,000 You’ve Never Heard Of
      • Build Wealth

        • 35 Passive Income Ideas You Can Use to Build Real Wealth
        • 3 Ways To Make $50,000 Per Year Without Working With Passive Income
        • How To Become A Real Estate Investor With Just $500
        • 15 Best Online Business Ideas
        • How to Create Streams of Passive Income on a Limited Budget
        • Residual Income: 7 Super Smart Ways to Build It
        • The Most Common Multiple Income Streams
        • How To Become A Real Estate Mogul With Only $10,000
      • Reviews

        • Fundrise Review
        • RealtyMogul Review
        • FarmTogether Review
        • AcreTrader Review
        • Swagbucks Review
        • Survey Junkie Review
        • TopCashback Review
        • DoorDash Review
  • Personal Finance
      • Banking

        • Best High Yield Savings Accounts Of May 2022
        • Best Money Market Accounts Of May 2022
        • 10 Best Free Checking Accounts In May 2022
        • The Best Bank CD Rates Of May 2022
        • 10 Best Business Checking Accounts In May 2022
        • The Best Online Banks Of May 2022
        • 5 Best Credit Unions Nationwide of May 2022
        • Best College Student Checking Accounts In May 2022
      • Insurance

        • Best Life Insurance Companies
        • Renters Insurance
        • Car Insurance
        • Pet Insurance
        • Umbrella Insurance
        • Disability Insurance
        • Tuition Insurance
        • Travel Insurance
      • Credit Tools

        • Best Budgeting Apps
        • Cash Advance Apps
        • How To Get A Free Credit Score Report
        • The Best Credit Monitoring Services
        • Debt Settlement: Inside The Secret World
        • Credit Repair Explained: Should You Pay For Help?
        • Best Personal Loan Companies And Lenders
        • Online Loan Companies To Borrow From Home
      • Tax

        • Best Tax Software
        • Free Tax Software
        • IRS Tax Refund Calendar
        • Common IRS Questions and Errors
        • Federal Tax Brackets
        • Capital Gains Tax Brackets
        • 401k Contribution Limits
        • IRA Contribution Limits
        • HSA Contribution Limits
  • Forum
  • Search
Home » Investing » Cryptocurrency » The Top Crypto Savings Accounts Of 2022

The Top Crypto Savings Accounts Of 2022

Updated: May 5, 2022 By Robert Farrington

Tweet
Share59
Share
Pin19
Email

At The College Investor, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners. This doesn’t influence our evaluations or reviews. Our opinions are our own. Learn more here.Advertiser Disclosure

There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. We're proud of our content and guidance, and the information we provide is objective, independent, and free.

But we do have to make money to pay our team and keep this website running! Our partners compensate us. TheCollegeInvestor.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The College Investor does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).

For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. TheCollegeInvestor.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. All products and services are presented without warranty.

crypto savings accounts

Looking to boost your investment yield while dabbling in the world of cryptocurrency? A crypto savings account could be a way for you to dramatically increase your rate of return.

But these accounts don't offer the same safety that a bank or credit union savings account can offer. Before you decide to invest, it's important to understand how crypto savings accounts work and their pros and cons.

Once you understand how these accounts work, you'll also want to know where you can get the best yields. In this guide, we'll answer your most burning questions about crypto-based savings accounts and give our top picks for 2022.

Best Cryptocurrency Savings Accounts
Hodlnaut
KuCoin
Celsius Network
Gemini
Coinbase
Crypto.com
YouHodler
Outlet Finance
Ledn
BlockFi
Nexo

What Are The Top Crypto Savings Accounts?

Below you’ll see the top crypto-based savings accounts along with their top advertised yields on various crypto currencies. For more information about each company (along with some of the restrictions), read a bit further.

Note: These yields are subject to change at anytime. If you notice a difference, please let us know in the comments!

Company

Stable Coins (e.g. USDC)

Bitcoin

Hodlnaut


Up to 13.86%


Up to 5.33%

KuCoin

6.1%

0.68%

Celsius Network


18.63%


Up to 6.20%


Gemini


Up to 7.4%


2.05%

Coinbase


1.25%

4.00%


Crypto.com


6-12%


4.5%

YouHodler


Up to 12%


4.8%


Outlet Finance


Up to 6%


Not available

Ledn

8.0%


5.25%

BlockFi


7.00%


0.1%-3.0%

Nexo


Up to 17%


Up to 8%

Hodlnaut

Hodlnaut has some of the highest payouts to earn on your crypto. They only allow weekly withdrawals to your wallet, but they have no lock in periods or minimum deposits. Right now, you earn up to 13.86% on your crypto.

Bonus: Right now you can get a $20 bonus when you deposit at least $1,000.

Read our full Hodlnaut review here.

Get started with Hodlnaut here >>

hodlnaut logo
OPEN AN ACCOUNT

KuCoin

KuCoin is one of the most popular cryptocurrency exchanges, and they have a great savings product called KuCoin earn. You can earn crypto with high APY by saving, staking, or taking advantage of promotional offers.

KuCoin Earn also has more assets available to earn than most other companies on this list. Right now, you can earn 6.1% APY on USDT and 0.64% on BTC. They also have other assets that have much higher APYs.

Read our full KuCoin review here.

Get started with KuCoin here >>

KuCoin logo
OPEN AN ACCOUNT

Celsius Network

Celsius Network offers exceptional rates and bonuses for accepting your interest in its proprietary coin. Even with the high rates, you won’t face account minimums or lock ups on your keys.

Note: As of April 15, 2022, only accredited investors will be able to deposit and earn via Celsius Network.

Read our full Celsius Crypto review here.

Plus, they are offering a $20 bonus in free bitcoin when you sign up and use this promo code: 126569833b. 

Get started with Celsius Network here >>

Celsius Network logo
OPEN AN ACCOUNT

Gemini

Gemini has been known as a solid choice for investing and trading crypto for the past few years, and their platform is actually the backbone for several others.

However, Gemini was late to the cryptocurrency savings game. They just launched Gemini Earn, where you can get interest on your crypto holdings. You can receive up to 7.4% interest, including 2.05% on BTC, by transferring your crypto to Gemini Earn.

Promo: Open a new account and earn $25 in BTC when you trade $100 within the first three days.

Read our full Gemini review here.

Get started with Gemini here >>

Gemini logo
OPEN AN ACCOUNT

Coinbase

Coinbase is best known as a digital wallet. But it also serves as a digital crypto savings account for some customers. Eligible US based customers can earn up to 4.00% APY on US Dollar Coins.

Unlike other companies on this list, Coinbase doesn’t lend out it’s USDC. Instead, this is a way to earn a small amount of interest while you wait to make trades on cryptocurrency. Plus, if you open a new account as a new customer, you'll get a $5 bonus when you make your first trade! 

Read our full Coinbase review here.

Get started with Coinbase here >>

Coinbase Logo
OPEN AN ACCOUNT

Crypto.com

Crypto.com advertises some of the highest interest rates on the market. But the terms to get these rates are very specific. Investors with smaller amounts of cryptocurrency are likely to find better yields outside of Crypto.com.

The platform pays interest on 15 traditional cryptocurrencies and 8 stablecoins. The yields are based on simple daily interest. And to get the highest yields you will have to keep your investment for at least 3 months.

Read our full Crypto.com review here.

Get started with Crypto.com here >>

crypto dot com logo
OPEN AN ACCOUNT

YouHodler

YouHodler’s crypto-based savings accounts are high-yield and also seems to offer a lot of protections for investors. They are currently not available in the United States, but they are available in the UK, EU, Eastern Europe, and Asia (China, Japan, Korea).

The company allows savers to withdraw from the platform at any time. But the minimum investment is $100 USD.

Read our full YouHodler review here.

Get started with YouHodler here >>

youhodler logo
OPEN AN ACCOUNT

Outlet Finance

Outlet Finance is an account that doesn’t require a lot of knowledge about specific cryptocurrencies because it only pays interest on US dollars. Users deposit dollars and earn dollar-based interest.

The only wrinkle is that your dollars are being lent out to buy Ethereum and other cryptocurrencies. Right now the company advertises interest rates of up to 6% on US dollars. Read our full review of Outlet Finance.

Get started with Outlet Finance here >>

Outlet finance logo
OPEN AN ACCOUNT

Ledn

Ledn is a crypto-lending platform that brands itself as a crypto savings account. It has a few different options for earning interest on your cryptocurrency, and it has some promising rates.

Right now, you can get up to 8.00% on USDT and 5.25% on BTC.

Read our full Ledn review here.

Get started with Ledn here >>

Ledn logo
OPEN AN ACCOUNT

BlockFi

With no account minimums, BlockFi is making high yields accessible to many crypto investors. The exceptionally high yield on Bitcoin is intriguing for investors with less than 0.10 Bitcoin (which is likely most investors as even 0.10 Bitcoins is a lot of money).

Investors with more than 0.35 Bitcoin will only yield 0.10%, however. So the more you have, unfortunately, the less you earn.

However, if you have stablecoins (USDC, BUSD, GUSD), you can earn up to 7.00% on your stablecoins up to 20,000, then the rate drops down.

Important Note: BlockFI Interest Account (BIA) are no longer offered to new clients who are U.S. Persons or persons located in the United States. Existing clients that are U.S. persons or located in the United States will be unable to transfer new assets to their BIAs. The BIAs have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States, to U.S. persons, for the account or benefit of a U.S. person or in any jurisdiction in which such offer would be prohibited.

Bonus Offer: Get up to $250 bonus when you make a $25 deposit and maintain it for the specified period of time.

Get started with BlockFi here >>

blockfi logo
OPEN AN ACCOUNT

Nexo

Nexo boasts minimal lock up times (less than 24 hours), and third-party guarantees of it’s crypto assets. That makes it an appealing option with super high yields on US dollars and some of the highest rates on crypto currencies. Right now, you can get up to 17% on stablecoins and 8% on Bitcoin.

However, it doesn’t clearly disclose how much you have to invest to achieve the highest rates of return.

Plus, right now you can earn a $25 BTC bonus when you open an new account, complete advanced verification, and deposit at least $100 in supported assets onto the platform. You must maintain the balance on Nexo for at least 30 days.

Note: In February 2022, Nexo paused its Earn Interest product for new U.S. based customers. Existing customers will still be able to earn and withdraw, but cannot add more deposits into it.

Read our full Nexo review here.

Get started with Nexo here >>

Nexo logo
OPEN AN ACCOUNT

Crypto Savings Accounts Vs. Regular Savings Accounts

What are the main differences between a crypto-based savings account and a regular savings account? Here are a few things that set them apart.

FDIC Insurance

Your bank savings account comes with $250,000 of FDIC insurance. And there are ways to get even more insurance than that.

But there won't be any federal insurance offered on a crypto-based savings account. You can lose money (or crypto) in this savings account. So you should think of it more as an investment rather than a savings account.

Key Access

In a normal savings account, the money is yours, full stop. In crypto-based savings accounts, your crypto keys are lent out to other people who can use the crypto for a certain period of time. In exchange, the borrower promises to pay you interest on the crypto that you lend them.

Yields

Yields on cryptocurrencies range from about 4% to 8% or more. This is significantly more than the yields on traditional savings accounts.

This is because crypto banks cannot “produce money supply,” so they have to attract investors with high yields. The supply and demand for crypto financing drives the interest rates.

Withdrawal Restrictions

In a traditional savings account, you can withdraw money up to 6 times per month without facing any penalty. However, crypto savings accounts may impose more restrictive limits on the frequency or amount that you can withdraw. Unfortunately, there’s no standardized guidance for withdrawal limits, so it’s tough to generalize on this point.

Compound Interest

One odd facet of certain crypto-based savings accounts is that interest may not compound. That means your initial deposit grows over time, but the interest on the growth does not compound. You essentially have to spend or trade the interest to realize the gains.

Related: How Does Compound Interest Work?

Crypto Savings Accounts Vs. Crypto Wallets

How do crypto-based savings accounts compare with crypto wallets? These are the biggest differences that you'll want to be aware of. 

Interest

When you have Bitcoin or another form of crypto in a wallet, the number of coins you own doesn’t change over time. With crypto-based savings accounts, the number of coins you own will increase over time (provided the crypto bank doesn’t fail).

Key Ownership

Often with crypto savings accounts, when you deposit coins, you give up access to your keys. That allows the exchange to lend your crypto to other individuals. Some crypto investors find this to be unacceptable, so they choose to avoid savings accounts altogether.

Security

This point is contentious among crypto investors, but some see crypto wallets as a very weak form of security. Losing your phone could mean losing all your money. Even if you have multi-factor authentication on your wallet, you could lose everything. 

By contrast, crypto banks have built in redundancies to secure the crypto keys. These institutions take bank-level security to the next level. 

Will You Make Money With A Crypto Saving Account?

If you deposit money into a crypto-based savings account, you can expect to earn interest, but the yield will be in the crypto-currency of your choice. If your goal is to make US dollars, you may not get the result you want.

Of course, some of the major crypto banks are offering fantastic yields (as high as 8.6%) on the USDC coin which has very close parity to the US dollar. That said, sudden fluctuations in demands (especially drops in demand) for the USDC could wipe out your initial investment and the subsequent returns.

A few of the crypto savings accounts (such as Linus and Outlet Finance) don’t require users to have any cryptocurrencies at all. Instead, investors deposit US dollars and receive interest in dollars. However, these accounts have the same risk profiles as other crypto accounts. Investors still have exposure to the volatile cryptocurrency market.

At the end of the day, crypto currencies have a risk profile that government-backed money does not. You may see fantastic returns, but it is not guaranteed. However, if you already own cryptocurrency (or want to own it), I see value in crypto savings accounts.

Should You “Save” Money In Crypto Savings Accounts?

All of these “savings” accounts have one thing in common -- they're actually investments. While it's exciting to imagine returns in the realm of 4-10%, these returns are not guaranteed. Each crypto-based savings account involves exposure to the highly volatile cryptocurrency investment market. 

If you're a believer in the future of cryptocurrency, opening a crypto savings account could be a great way to diversify your investing portfolio. But if you're looking for an actual FDIC-insured savings account for your emergency fund, these are our favorite high-yield options. 

Robert Farrington
Robert Farrington

Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.

He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.

He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.

The Top Crypto Savings Accounts Of 2022
Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.
Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors'. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone's responsibility to ensure all posts and/or questions are answered.

Primary Sidebar

Featured Exchanges

>  Coinbase (recommended)
>  Binance (recommended)
>  Robinhood
>  eToro
>  Kraken
>  Voyager
>  Uphold

Featured Crypto-Savings

>  Celsius (recommended)
>  Hodlnaut (recommended)
>  KuCoin
>  Outlet
>  Nexo

Popular Tokens

>  Bitcoin BTC
>  Ethereum ETH
>  Solana SOL
>  Litecoin LTC
>  Stellar XLM
>  Monero XMR
>  Cardano ADA
>  Dogecoin DOGE

More On Cryptocurrency

  • 10 Best Crypto Exchanges & Platforms of May 2022
  • The Top Crypto Savings Accounts
  • Best Crypto Bonus Offers And Promotions In May 2022
  • Best Cryptocurrency Wallets
  • The Top 10 Most Popular Cryptocurrencies To Invest In
  • How To Invest In Cryptocurrency
  • Best Crypto And NFT Tax Software For 2022

Footer

Banking

  • 10 Best Free Checking Accounts In May 2022
  • The Best Online Banks Of May 2022
  • The Best Bank CD Rates Of May 2022
  • Best Money Market Accounts Of May 2022
  • Best High Yield Savings Accounts Of May 2022
  • Best High-Yield Checking Accounts Of May 2022
  • The Best Bank Bonus Offers
  • The Best Business Checking Accounts

Investing

  • Best Online Stock Brokers In 2022 (According To Readers)
  • Best Brokerage and Investing Bonus Offers In May 2022
  • The Best Places To Open An HSA (Health Savings Account)
  • 5 Best Investing Apps With Free Stock Trading
  • How To Buy Stocks Online For Free
  • The Best Robo-Advisors Of 2022
  • The Best Self-Directed IRA Providers
  • The Best Traditional And Roth IRA Accounts Of 2022
  • Comparing The Most Popular Solo 401k Options
  • Top 3 Automatic Investment Apps Of 2022

Student Loans

  • Best Places To Refinance Student Loans In May 2022
  • Best Private Student Loans Of May 2022
  • How To Find The Best Student Loans And Rates
  • Best Student Loan Refinancing Bonuses And Promotional Offers

Insurance

  • The Top 10 Online Life Insurance Companies
  • The Ultimate Guide To Renters Insurance – Everything You Need To Know
  • The Cheapest Car Insurance For College Students

Connect

  • Contact Us
  • Advertise
  • Press & Media

About

  • About
  • Our Team
  • Podcast
  • Editorial Guidelines
  • How We Make Money
  • Archives

Social

Copyright © 2022 · The College Investor · Privacy Policy ·Terms of Service · DO NOT Sell My Personal Information