The popularity of cryptocurrencies in recent years is as high as it has ever been, with some outstanding gains on many different coins. When the market turns bearish or trends sideways, more and more crypto investors are trying to grow their crypto holdings by placing their crypto in interest accounts. The more crypto they can accumulate before the next bull run, the better off they will be, when prices eventually rise again. In this article, we will show you the best crypto interest accounts you can use.
A tip we recommend is signing up to several different crypto interest accounts. There are several reasons for this: 1) Many crypto interest accounts have higher rates for low deposit amounts. This means that if you deposit a smaller amount into each of them, you can access higher APY. 2) FREE crypto with sign up offers. Some crypto interest accounts, like Matrixport, Hodlnaut and Nexo offer free crypto if you are a new user, and deposit a minimum amount. By opening accounts with each of them, you can maximise the crypto you own. 3) It is safer to spread out your cryptocurrencies. While all the crypto interest accounts we recommend here are tested, and safe, there is always a small chance that a sophisticated hacker can breach the security of a platform. If you spread our your crypto assets across several different accounts, then even if one gets hacked, you won't lose all your funds.
|Where to earn interest||Features||Score||Sign Up|
15% APY on USDC/USDT
☑️ Huge 15% APY available on USDC/USDT for new users, and free $15 USD bonus
☑️ Buy, sell and trade crypto, including leverage trading
☑️ Free Grid Trading bot included
☑️ High returns for Bitcoin: 4.08% APY
☑️ High returns for USDT & USDC: 7.25% APY
☑️ FREE 30 USDC sign-up bonus
Best wallet to earn interest
☑️ Nexo is a wallet where you can buy, store and earn interest on your crypto (5% APY for BTC, 8% APY for USDT when locked for 1 month)
☑️ High base rate of 8% for stablecoins and 4% for other cryptocurrencies
☑️ Receive bonus interest for 1-month fixed terms, choosing to earn interest in NEXO, or having NEXO staked
The Top Crypto Interest Accounts: Individual Reviews
#1. Matrixport - Excellent Signup Offer: $15 USD + 15% APY on USDC/USDT
Deposit Fees: Free Withdrawal Fees: Crypto - Varies for each asset, Fiat - 30 USD
BTC APY: 3% ETH APY: 3% USDT APY: 15%
Matrixport is the best choice for new users seeking a signup offer to boost their crypto savings account. When you open an account using this link, not only do you receive $15 USD for FREE, but you also access the introductory rate of 15% APY on USDC and USDT stablecoins.
Matrixport also offers more than simply earning interest on your crypto. It is also a crypto exchange, where you can easily buy and sell crypto, spot trade with 0% commission, and margin trade (up to 5x leverage).
Matrixport is best known for the high interest earning savings account, but you can also earn interest in other ways on this platform. Users can pool money in investment products such as DeFi, Dual Currency, and crypto lending, to spread out crypto funds.
Matrixport is a legitimate and trusted platform, with top-notch customer support. The only downside is that while you can sign up an account using a computer, the features of Matrixport are only accessible using a mobile app. However, this shouldn't be an issue for anyone with a smartphone.
- Earn a massive 15% APY on USDT and USDC as a welcome offer
- $15 free USD promotion
- Buy, sell and trade cryptocurrencies
- Margin trading (up to 5x leverage)
- Low interest rates on BTC & ETH
- Only accessible on the mobile app, not available on desktop
#2. Hodlnaut - High Crypto Interest
Deposit Fees: Free Withdrawal Fees: Depends on the cryptocurrency (first withdrawal per month is free)
BTC APY: 4.08% (less than 0.1 BTC) ETH APY: 4.60% (less than 5ETH) USDT APY: 7.25% (less than 100,000 USDT)
Hodlnaut is based in Singapore and was founded back in 2019. This cryptocurrency interest platform accepts crypto deposits from 6 coins: Bitcoin (BTC), Tether (USDT), USD Coin (USDC), DAI, Ethereum (ETH) and Wrapped Bitcoin (WBTC). You can earn high interest rates on crypto with no minimum deposit requirements, paid weekly, and your funds can be withdrawn at any time.
Holdnaut can also be used for swapping your crypto from one coin to another. Any of your deposited assets can be traded for any other of the 6 coins, free of charge. Hodlnaut doesn’t charge any deposit fees, but there are withdrawal fees, which vary depending on the cryptocurrency you want to withdraw. The first withdrawal per month is free, but after that, the fees are as follows:
Bitcoin: 0.0004 BTC
DAI: 10 DAI
Ethereum: 0.0036 ETH
USD Coin: 10 USDC
Tether: 10 USDT
Wrapped Bitcoin: 0.0004 WBTC
The interest rates on Hodlnaut are very competitive. For Bitcoin, you will receive 4.08% if you deposit less than 0.1 BTC, for any amount between 0.1 and 1.0 BTC, you’ll receive 3.25%.
If you are planning to place larger amounts of Bitcoin into a crypto interest account, unfortunately the rates drop off; it is just 1.61% for any amount over 1 BTC.
If you prefer to earn interest on stablecoins, you can access 7.25% for up to 100,000 USDT or USDC.
For increased security, Hodlnaut offers users the choice to purchase Custody Cover from Nexus Mutual. This covers you if Hodlnaut’s platform gets hacked, and you lose more than 10% of your funds. It also covers you if Hodlnaut stops withdrawals for 90 days or more.
The main disadvantage of using Hodlnaut is that they currently only support 6 cryptocurrencies. While this is suitable for some investors, if you have a wide variety of cryptocurrencies you want to earn interest on, you will have to look elsewhere.
- High returns of 4.08% APY for BTC and 4.60% for ETH, 7.25% APY for USDT & USDC
- No crypto locking requirements, funds can be withdrawn at any time
- Free sign-up bonus of 30 USDC
- No minimum deposit amounts
- Weekly interest payouts
- Optional custody cover by Nexus Mutual
- Only 6 cryptocurrencies are available
#3. Nexo - Best Crypto Interest Account Wallet
Deposit Fees: Free Withdrawal Fees: Free
BTC APY: 5% ETH APY: 5% USDT APY: 8%
Nexo is a popular crypto wallet, where you can not only store your crypto, but also purchase, swap coins, and earn interest on 22 cryptocurrencies. As Nexo has quite competitive interest rates for BTC, stablecoins, ETH, and other cryptocurrencies, it is an option that is definitely worth exploring.
Nexo has grown tremendously and the price of their NEXO token is seven times higher than it used to be. Since Nexo is based in Europe, European readers may prefer this platform over the US or Asian crypto interest accounts.
Nexo is a highly secure crypto wallet, with Class III storage vaults, ISO 27001:2013 compliance, 256-bit military-grade encryption, and biometric identity verification. Nexo has over $350 million insurance on custodial assets and thus, you are protected against the theft or loss of your private keys.
Nexo’s interest rates are decent, with a base rate of 8% on stablecoins and 4% on other cryptocurrencies, and you can increase the interest you receive in several ways.
Firstly, you can lock your crypto for 1 month, which grants you an additional 1% APY, increasing your cryptocurrency interest rate to 5% APY.
Next, you can choose to have your interest paid out in NEXO, the platform’s native token. By doing this, you earn an extra 2% APY, but it means that your interest is paid out in NEXO and not the cryptocurrency you deposited. This is a good way to earn extra interest, but is reliant on the NEXO token retaining its value over time.
Finally you can earn higher interest rates based on your loyalty level. This loyalty level is determined by how much NEXO tokens you have in your wallet compared to other cryptocurrencies. If your wallet has NEXO tokens that equal 1-5% of your crypto, you will earn 8.25% on stablecoins and 4.25% on other coins. If you have more than 10% of your wallet as NEXO tokens, you earn 10% on stablecoins and 5% on all other coins. Additional to this, you can of course boost your interest by locking in your coins for 30 days and getting paid in NEXO tokens.
- Buy, store and earn interest on 22 cryptocurrencies
- High APY of 8% on stablecoins and 4% on other coins
- Earn additional 1% APY for a 1-month fixed term, extra 2% APY if you choose to earn interest paid in NEXO token, and higher interest depending on how much NEXO you own
- Easily swap coins within your wallet
- Earning interest on crypto is not available in the USA
#4. Crypto.com - Crypto Cashback on Visa Purchases While You Earn Interest
Deposit Fees: Free Withdrawal Fees: Depends on the cryptocurrency
BTC APY: 3% (locked for 3 months) ETH APY: 3% (locked for 3 months) USDT APY: 6% (locked for 3 months)
Crypto.com is a widely-known cryptocurrency app that supports buying, selling, trading, NFTs, and of course, earning interest. It offers over 250 cryptocurrencies, and you can earn interest on 47 of them. Crypto.com was founded in 2016 and is used by over 10 million users from all over the world. Crypto.com is ideal not only for beginners but for advanced cryptocurrency users as well.
The interest rates available are quite low if you want to keep it flexible (meaning you can withdraw at any time), but if you lock for 1 month or 3 months, the APY is more competitive. In addition, if you stake CRO (their native coin, Cronos), you can access higher rates. Staking CRO also comes with additional benefits, like the a free metal Visa debit card, that you can load up with fiat currency and spend like usual, anywhere that accepts Visa. When you spend with it, you receive a cashback paid out in CRO. The maximum you can receive is 5% cashback, with the highest tier card, while the lowest level card gives you 1% back on each purchase.
This is an excellent method of receiving free cryptocurrency while you make your daily purchases, plus you can receive higher interest rates.
Interest rates are dependant on the coin and whether you choose to lock it for 1 or 3 months, or leave it flexible.
For example, if you lock Bitcoin for 3 months, you’ll receive 3% APY, if you lock it for 1 month, you’ll earn 1.5%, and if you leave it flexible, you only earn 0.2% APY.
A 3-month fix for USDT and USDC will earn you 6% APY, 3% for 1 month, and 0.4% if you leave it flexible.
To access higher interest rates, you’ll need to stake a certain amount of CRO. For example, if you lock for 3 months and stake over $4000 CRO, then you’ll receive 8% APY on USDT.
If you plan to hold your crypto for the long term, then Crypto.com is a good option if you lock it for 3 months. However, if you want to keep your crypto flexible, the interest rates are too low, and you are better off choosing another crypto interest account.
- Buy, sell and swap over 250+ different coins
- Earn interest on 47 cryptocurrencies
- Cashback of up to 5% on every Visa debit card purchase
- Lock for 3 months to access higher interest rates
- Low rates if you don't lock in your crypto
How do I determine the best crypto interest account for me?
In order to figure out which is the ideal crypto interest account for your needs, you need to answer the following questions:
- Do you want to be able to withdraw the coins at any time or lock them for a set time period?
- Are you looking to earn interest on just a few coins or on a large variety of coins?
- Are you planning to earn interest on stablecoins, other cryptocurrencies, or both?
- Do you want to buy and sell crypto as well as earn crypto interest?
Once you know the answers to these questions, you can determine which of the options above suit you best.
Do you need to pay taxes from crypto interest accounts?
In most cases, you will need to declare any earnings from crypto interest, and pay relevant taxes depending on your annual income. This will vary depending on where you live, so you should check with your country's legislation.
For further info, please seek the advice of a tax accountant and work out the specific details for your geographical location and personal situation.
Where can you buy cryptocurrency?
Cryptocurrency exchanges (read here) are the best places to buy crypto, and then you can transfer them to a crypto interest account to earn high APY. Some platforms listed above allow you to purchase crypto and earn interest within the same account, for ease of use.
Comparison Table of Best Crypto Interest Accounts
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