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10 best crypto savings accounts 2020

To read:
13 mins
19 December 2019
Crypto savings accounts are this years favourite utility in the blockchain industry. There's been a storm brewing for quite some time. Investors are wanting to invest again Investors are becoming increasingly hungry to invest again, edging up the price of Bitcoin and other major crypto assets. Fiat based interest rates are terrible Fiat savings accounts are paying less than 1% interest in most major markets around the world with little chance of increasing in the near to medium term. Both of these factors have led to a feeding frenzy of crypto savings accounts. We've compiled a list of who we think are best.


Overview BlockFi is a favourite amongst the blockchain industry. It's backed by some of the best investors and advisors, it has a dead-simple website that can get you up and running in 2 minutes and it's super secure. BlockFi's backers include Mike Novogratz from Galaxy Digital Ventures, ConsenSys, Anthony Pompliano from Morgan Creek Digital Ventures and many more. BlockFi Usability The website is basic, but don't let that fool you. It's easy to use and your assets aren't stored there, they're stored with Gemini. Unfortunately they don't have apps, though they are working on it. Security That's brings us to its security. All assets on BlockFi are stored by Gemini Custody, which a cold storage solution with insurance on each wallet. The BlockFi website itself has decent security with 2-factor authentication and a 48 hour delay on any withdrawals. Minimum or maximum amounts There's no minimum or maximum amounts you can invest with BlockFi. Fees The one thing you need to be careful of are its fees. They have withdrawal fees and if you withdraw your assets within an interest accruing month, you with forfeit the interest you accrued for that month. Any interest accrued in prior months is yours to keep. Interest rates BlockFi interest rates are very competitive. And the best part is that they don't require you to use a native token to get the high rates. For Bitcoin, they offer 6.2%, for Ethereum it's 4.1% and GUSD it's 8.6%. BlockFi You can apply here.


Overview Celsius Network is another popular option with some of the highest interest rates in the industry. It was founded by the creator of VOIP. Yep, that's things like Skype, Zoom etc. They had a huge ICO, where they raised a bucket load of money and attention. That also means you'll need to be paid in CEL tokens in order to get their highest rates. It's not compulsory, but it's something to be mindful of when signing up. If you opt not to be paid in CEL, you will receive a slightly lower interest rate. Celsius Network Usability Celsius Network apps are great. When we signed up, we were up and running in no time. The interface couldn't be much simpler and they offer a very extensive list of assets you can earn interest on. Security BlockFi, Celsius Network use a third party custody provider. Instead of Gemini, they use Bitgo who also offer cost storage solutions and each wallet is insured for up to $100m by Lloyds Insurance. Their app has 2-factor authentication and with Bitgo as the custody provider, you can sleep at night. Minimum or maximum amounts There's no minimum or maximum amounts you can invest with Celsius Network. Fees One of the big selling points of Celsius Network is that there are absolutely no fees. No account fees, no withdrawal fees. None. Interest rates Their interest rates are competitive with 4.25% on Bitcoin, 9.25% on a variety of US Dollar stablecoins, 3% on Ethereum, 4.25% on Zcash and many more. You can apply here

Overview have been growing very aggressively. The speed of their development is impressive with a range of interest accounts covering most major cryptocurrencies. They offer the highest interest rates in the industry, however, you need to be mindful of their fees and the fact that like Celsius, you'll need to stake their native tokens in order to receive the higher rates. Usability have feature packed apps that allow you to do a lot more than just earn interest. They're the most developed out of the lot, which is great, but if you're just looking to earn interest, it could mean that it's more difficult to use than some of the other options that just focus on savings accounts. Security don't use third party custody solutions and they don't offer insurance on you holdings. This could be a bit of a red flag, considering their competitors offer much more in this regard and security should be at the top of your list when choosing an account. Minimum or maximum amounts They have various minimums and maximums for each asset type. If you'd like to learn more about it, you can see here. Fees don't list their fees associated with savings accounts, however, be wary of potential withdrawal fees. Interest rates's interest rates are based on the duration and whether you have their native token staked. If you have their native token staked and you opt to have a 3 month duration with them, you can earn some of the best interest rates in the industry. You can see how they compare at Bitcompare. You can apply [here](


Overview Ledn offer Bitcoin savings accounts, earning a modest 3.6% that compounds monthly. It's a basic platform that's based in Toronto, Canada. They don't offer savings accounts on any other crypto assets. Ledn Usability The Ledn platform is web only. They don't have any mobile apps and their features are very limited. In some ways this is good as it means their website is fairly easy to use. Security Ledn claim to use Bitgo custody which is insured and very secure. We highly recommend setting up 2-factor authentication. Minimum or maximum amounts They have a minimum deposit of 0.5BTC with no maximum. Fees They don't list their fees, so if this is important, we recommend contacting them directly Interest rates Interest rates are compounded monthly and you must have your funds with them for atleast 30 days in order to receive your interest. Furthermore, if you withdraw your funds before any 30 day period, they will keep your interest during that period. You can apply here.


Overview Coinbase are the newest entrants to savings accounts. They have built an amazing reputation for usability and quality products in the crypto space, however, unfortunately their savings account doesn't really add up compare with their competition. Coinbase Usability Coinbase are by far the leaders when it comes to create quality, usable products in the crypto space. They arguably made the entire industry much more mainstream with the simple wallet and exchange products. The same can be said for their savings accounts. Their website and apps are second to none for usability. Security Coinbase have never been hacked and they have some of the best custody solutions in the market. This is one of their major selling points for all things crypto, not just savings accounts. While your wallet isn't insured, it is backed by one of the biggest names in the tech industry. Minimum or maximum amounts There are no minimum or maximum amounts with Coinbase. Fees There are no fees Interest rates Coinbase's interest rates are pretty terrible, offering just 1.25%. What's worse is that they only offer it on their stablecoin USDC and not even Bitcoin. You can apply here


Overview WhaleLend offer interest on most major crypto assets with varying degrees of competitiveness. Their assets compound daily, however, they don't offer secure third party wallet solutions and their rates on major crypto assets like Bitcoin are some of the worst. Usability WhaleLend's platform is basic but usable. It's web only and they don't offer any mobile apps at this point. Security WhaleLend don't offer third party custody and it's not clear how they secure their assets properly. Minimum or maximum amounts There are no minimum or maximum amounts with WhaleLend. Fees There are no fees Interest rates WhaleLend offer competitive interest rates on stablecoins, however, their rates on popular crypto assets like Bitcoin are terrible. They offer only 0.77% on Bitcoin You can apply here

Our verdict

If you want a dead simple way to earn a healthy amount of interest with a very secure wallet that's insured, we recommend BlockFi. You don't need to mess about with native tokens and you can get up and running within a couple of minutes.

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