Best Crypto Interest Accounts in 2021 (Comparison)

Crypto interest accounts are becoming more popular, as they offer a simple way of earning interest on your cryptocurrency. There are plenty of options for interest-bearing Bitcoin accounts, as well as choices for other cryptocurrencies. Compare the various options to see which account stands out from the crowd.

Basics of Crypto Interest Accounts

Crypto interest accounts are essentially accounts that let you easily earn interest on your cryptocurrency.

What Are Crypto Interest Accounts?

With a crypto interest account, you deposit your cryptocurrency in the account and leave it there. The platform will use your deposit to make smart investment decisions, lend crypto, or use other methods to gain a profit. They then pass on some of that profit to you in the form of interest.

What’s the Difference Between Crypto Interest Accounts and Regular Crypto Accounts?

The biggest difference between crypto interest accounts and regular crypto accounts is whether you earn interest. Regular crypto accounts just serve as wallets. This means they offer a safe place to store your cryptocurrency but nothing more. The number of cryptos you have in the account will remain the same unless you make a deposit or withdrawal.

By contrast, crypto interest accounts earn you interest. This means that you can leave your cryptocurrency there and watch it grow. Best of all, there is no effort required on your part.

How to Earn Interest on Bitcoin?

Crypto interest accounts are the simplest way to earn interest on Bitcoin. You can also find other types of interest-bearing Bitcoin accounts, such as managed investment accounts. Either of these types of accounts handles the various actions that let you earn interest on your BTC. They use strategies like trading and lending, which you could also do yourself.

Many people choose to earn interest on their crypto by lending it to someone who only needs cryptocurrency temporarily. You could charge interest for this service, just like a bank would charge interest for a loan.

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Or you could trade or invest your cryptocurrency, buying and selling various cryptos based on market fluctuations. This is a bit riskier, especially if you are not familiar with the crypto market. Experts may also use arbitrage trading and other methods.

Are Crypto Savings Accounts Safe?

As long as you choose an account from the right platform, then the accounts are safe.

A simple online search for the reputation of a platform can confirm that the platform in question is safe. Each platform should also have various security measures in place to prevent hackers from stealing the funds.

All of the crypto interest accounts mentioned in this comparison are safe.

Most Popular Crypto Interest Accounts

Although there are many crypto interest accounts online, the following are the most popular. It is always best to stick with a popular platform, as that makes it easier to confirm their reputation.

Interest Rate Comparison

PlatformBTC (APY)USDT (APY)ETH (APY)
Haru Earn Plus15.5%15.3%15%
Binance Earn1.2%2%Variable
Nexo4%8%4%
Blockfi0.5%9.3%0.5%
Celsius Network3.5%10%5.1%

Haru Invest

Haru Invest offers two types of crypto interest accounts and a crypto investment account. One version of the crypto interest account has absolutely no lockup period, which is quite rare in this type of account. The other type lets you choose your lockup period, giving you a higher interest rate if you opt for a longer lockup.

Binance Earn

Binance Earn is the crypto interest account from one of the best-known crypto trading platforms. Binance has a strong reputation, but the platform is known for trading, not crypto interest accounts. You can choose from several cryptocurrencies for your interest accounts, including BTC, ETH, USDT, BUSD, and BNB (the Binance coin). Interest rates and the lockup period can vary. Some earn as little as 0.24%, while some earn up to 7.72%.

Nexo

Nexo is another popular option for cryptocurrency investment accounts, but the platform does not focus on this. It also lends fiat using cryptocurrencies as collateral. This means that Nexo divides its attention between the two and does not focus on offering the best possible interest-earning account. Interest rates from Nexo can be up to 8% for cryptocurrencies and up to 12% for stablecoins. It compounds daily.

Learn more: Nexo review

BlockFi

BlockFi offers crypto interest accounts as well as trading accounts and loans with cryptocurrency as collateral. The BlockFi Interest Account (BIA) lets you earn as much as 8.6% APY. Like a few of the other similar accounts, your interest compounds daily. However, it is paid out monthly, so you cannot withdraw at any time with your full interest.

Learn more: BlockFi review

Coinbase

Coinbase offers a variation of cryptocurrency interest accounts by supporting staking. This is specifically for cryptocurrencies that use Proof of Stake algorithms or are designed to work with staking. Essentially, you deposit your crypto into the relevant Coinbase account. Coinbase then handles the staking for you, passing on your profits. You can earn up to 6.0% APR. It is also worth noting that, like Binance, Coinbase is primarily a crypto trading platform, so interest accounts are not its primary focus.

Why Is Haru the Best Option?

Of the mentioned crypto interest accounts, Haru stands out as the best option. Choosing a Haru Earn Plus account gives you interest rates of 7.5% to 15.5%. The interest rate depends on your lockup period. You are in complete control of the lockup period, with the ability to choose anywhere from 15 to 365 days. The longer your lockup is, the higher your interest rate. If you prefer to withdraw your crypto at any time without a lockup, you can opt for Haru Earn instead.

Not only does Haru offer a better interest rate than most of the other platforms, but it compounds daily. This maximizes your earnings. The Haru platform is also stable and easy to use.

Another great thing about Haru is the range of products. This lets you invest in the cryptocurrency of your choice and use the method you prefer. There are also investment accounts via Haru Invest. Those typically have excellent earn rates. For example, the latest performance numbers from June 1 to June 15 show the BTC account had a biweekly return of 1.0216%, which is 24.86% annualized. Additionally, Haru is highly transparent, publishing its weekly earn rates on its Medium page.

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