Coinbase is a market leader with crypto wallets, debit cards and a suite of other crypto financial products. They’re very well known for ease-of-use and security. Celsius Network are a new entrant with a highly competitive crypto savings product with great rates, no fees and many other compelling features.
We’ve taken a much closer look at both products to decide which company offers the superior crypto savings accounts.
What is it?
Coinbase is a leading cryptocurrency platform with a variety of products that operate in the blockchain industry. Coinbase recently launched USDC Rewards, which allows users to earn interest on the USDC stablecoin.
Celsius is a leading provider of savings accounts and lending in the crypto industry. They have millions of users and offer some of the most compelling features and rates in the industry.
What is unique about it?
Coinbase were the first to introduce the industry's most user friendly and secure wallet and exchange services. They have always excelled at making this often difficult to use and intimidating industry much more accessible to the mainstream.
Celsius offer a native cryptocurrency called CEL token. This currency has grown faster than Bitcoin over the last 12 months and they offer more competitive interest rates for both savings accounts and loans when using this native token.
How safe is it?
While Coinbase doesn't offer insured wallets, they do have one of the best reputations in the industry. They're yet to be successfully hacked and they offer institutional grade custody for very reputable clients
Celsius Network’s wallets are stored and insured by BitGo. Each wallet is insured for up to $100m by Lloyds Insurance. The app also provides two-factor authentication.
Find out more?
The Coinbase savings account simply does not compete on any level.
Not on usability, not on interest rates and not even security. Celsius offers very simple products with much higher interest rates and are even insured up to 100m USD per wallet.