Best Crypto Savings Accounts in 2023

Learn about the best crypto savings account and what makes it the best upon alternatives.

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Although they are still relatively new to the market, cryptocurrency savings accounts are quickly growing in popularity. They offer a convenient and familiar way to earn interest on your cryptocurrency if you do not plan on using it in the meantime. At the same time, you get a safe place to store your crypto. But how do you choose the best crypto savings account?

Best Crypto Savings Accounts (Comparison)

Most players in the industry chose the deposit-lending system as their business model. In this structure, what borrowers pay the service determines how much you can earn. At this point, the industry average for lending rates is getting lower – and so is the maximum earn rates you can get elsewhere.

At Haru, we do not have borrowers for your deposits. Instead, we invest them for you with minimized risk. That’s why your earnings at Haru can go higher than at the other services.

You can calculate your interest earnings with our calculator. 

Here’re the top crypto savings accounts:

  1. Binance Earn,
  2. Huobi Earn,
  3. Nexo,
  4. BlockFi,
  5. Celsius Network.

You can read our Nexo review and BlockFi review. You can also visit our Haru Earn Plus page to get more information about how we’re providing the best rates that you can get in the market and check our latest performance numbers from our Medium blog.

You can automate crypto trading with Haru Invest

Enjoy the highest earning rates in the market with top performing trading strategies.

You can automate crypto trading with Haru Invest

Enjoy the highest earning rates in the market with top performing trading strategies.

Interest Rate Comparison

PlatformBitcoin (APY)USDT (APY)ETH (APY)
Haru Earn Plus15.5%15.3%15%
Binance Earn1.2%2%Variable
Celsius Network3.5%10%5.1%

Best Bitcoin Savings Account

The best Bitcoin savings account will have good interest rates, a strong reputation, no or minimal lockup period, 24/7 withdrawals, and excellent customer support. It’s a bonus if they support savings accounts for other cryptos than just Bitcoin.

Haru fits all of those requirements, making it the top choice for Bitcoin savings account with interest.

Haru Earn Plus

If you want to waive the ability to withdraw your Bitcoin at any time, you can also opt for a Haru Earn Plus account instead. You get to pick your lockup period, and in exchange, you get a higher interest rate.

Get more information about Haru Earn Plus product.

Daily Compounding Interest

With Haru, you earn interest daily on Bitcoin, and that interest compounds. This lets you grow your profits more quickly.

24/7 Withdrawals

Not only does Haru let you withdraw your Bitcoin 24/7, but you can also withdraw any amount you want. This is particularly important as many companies with good interest rates have lockup periods.

Multiple Cryptocurrencies to Choose From

In addition to the Bitcoin savings account, you can open similar accounts for Ethereum, Terra KRT, and Tether USD with Haru. This makes it simple to open multiple accounts and watch your balance of various cryptos grow.

Crypto Security

Some companies offering accounts to earn Bitcoin interest will use your funds in high-risk investments to make money or continue to store them in hot wallets where they are vulnerable to security threats. Neither of these is a concern with Haru. Your Bitcoin gets transferred to a cold wallet that Black Crafters securely manages.

How You Can Earn Passive Income With Crypto Savings Accounts

Earning passive income with a crypto savings account is straightforward, at least with the best accounts.

All you have to do is open a savings account, deposit your cryptocurrency, and wait. Depending on the account and platform, you may need to keep the crypto in the account for a specified minimum time, known as the lockup period.

Why Do You Need a Bitcoin Savings Account

Simply put, a crypto savings account lets you earn money on cryptocurrency that you would not be using otherwise.

Let’s say you own ETH or BTC but do not plan on using it in the near future. You see it as a long-term investment. You could store it in a hardware wallet and hope the price goes up, netting you a profit. However, there is no guarantee as to how the crypto markets will move, so you cannot count on earnings.

Read more: Earn interest on Bitcoin 

In the best-case scenario, the coin will also increase in value, maximizing your profits since you will also have more of it than you started with. On the other hand, if the coin drops in value, the interest you earned will mitigate your losses.

How Haru’s Crypto Savings Account Works

Haru offers two main types of crypto savings accounts. The regular account, Haru Earn, lets you earn interest on your cryptocurrency and does not have a lockup period. That interest rate is annual, and you earn some of it every single day. The lack of lockup means that you can withdraw 24/7.

If you want a higher interest rate, you can opt for an account with a lockup: the Haru Earn Plus. This will typically add at least a few percentage points, if not more, to your interest rate, and you can select your own lockup period, as long as it is between 15 to 365 days.

The design of Haru’s crypto savings accounts means that you get a higher interest rate than alternatives without any lockup (or a minimal lockup, if you choose). You also earn interest daily, so your balance grows faster.

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