Best Bitcoin Savings Accounts – Are Crypto Savings Accounts Safe?

There are several ways of earning interest on your bitcoin. Bitcoin savings accounts are the right way of making solid return on your money in a stable and low-risk environment. Bitcoin savings accounts are more or less similar to modern-day Fixed Deposit accounts one would get from commercial banks. You deposit a certain sum of money and receive interest, whether monthly or yearly. Bitcoins work similarly. The only difference is the currency in Cryptocurrency. You transfer bitcoins to the savings accounts provider’s account, hand over your private key to them, and in turn, they pay you interest for using your coins.

Most to these savings accounts are either offered by specialized cryptocurrency loan platforms or by classic bitcoin exchanges that are expanding their offerings and adding more verticals.

How do Bitcoin savings accounts generate money?

These savings accounts work just like the conventional savings accounts work. They lend your money to people who are willing to pay higher interest rates than what you were to receive, so the user is sure to receive their interest in time

Bitcoin is a highly volatile asset, and the interest rates, therefore, vary based on the interest earned by the savings account provider, the price of the bitcoin on the market, and the amount which you deposited.

What is the interest rate for Bitcoin savings accounts?

The interest rate you would potentially get from saving your bitcoins in a savings account depends entirely on the type of savings account that you open. In a number of cases, the bitcoin interest rate is fixed for a specific period while in others, they offer a continually changing interest rate daily, weekly, monthly, or even annually. Below are some examples of Bitcoin savings account and their interest rates.

Popular bitcoin savings accounts


Block-Fi is known for its outstanding interest rate of up to 6.2% annually. Some highlights of Block-Fi also include the fact that interest is at the beginning of every month. The interest is compounded monthly, and last but not least, one can trade on the site. The interest rate on Block-Fi depends on the amount you are willing to lend 

The lock-up period (the lock-up period is a window of time in which an investor is not allowed to redeem their shares of a particular investment) is one month, and withdrawal takes up to seven days.


YouHodler is a fintech startup that provides crypto-backed loans in fiat currencies and stablecoins. Unlike Blockfi that supports only 3 coins, YouHodler’s bitcoin lending system has a broader offering of popular cryptocurrencies including BTC, ETH, LTC, BCH, XRP and XLM among others.

Aside of the support for a lot of coins, YouHolder takes pride in their LTVs as they offer one of the highest LTVs in the market – 90%. This means that if you put up 10 BTC as a collateral, you can take out a loan worth 9 BTCs.

Through their other product called bitcoin loan no collateral, they enable borrowers to hold their digital assets while accessing necessary funds.

YouHodler has wide limits when it comes to the amounts of money you can borrow – from as little as $100 to a maximum of up to $30,000 for a duration of 1 to 6 months. 

The platform is very innovative with their products and a line of credit on recurring basis for indefinite time period is very popular. Being a bitcoin loan no credit check, the platform uses a straightforward application process for all kinds of borrowers with fast approval process.

Once you are approved for a loan on YouHolder, you can make an instant withdrawal via your credit card or through a crypto withdrawal.

Celsius Network

Celsius is also a platform that offers interest on several cryptocurrencies. Interest is earned weekly, and unlike Block-Fi, whose interest rate depends on the amount deposited. The interest rates are updated weekly and can range from 2.5%-10% on a variety of coins. Below is a list of the cryptocurrencies supported by Celsius: Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin, and Omise-Go.

Some advantages of opening a bitcoin savings account via Celcius is that there is no lock-up period, free fee withdrawal, and no minimum deposit amount.

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Celsius Network

Read a complete Celsius review here.

Binance savings account

Binance is one of the most trustworthy cryptocurrency exchange platforms. Binance offers a feature known as Binance Savings. At the time of writing, an interest on your BTC of up to 1.6% is provided annually on Felxible Savings; stablecoins will generally yield you around 6% APY.

Locked Savings support only stablecoins with annual yields hovering around 6%.

On the Binance Savings, you can lend your bitcoin to start earning interest. There is also the alternative of leaving your account idle, which automatically lends a specific amount of bitcoin at the end of the day. This feature is mostly used by traders who may not be able to access their Binance account for a certain period but still want to keep earning interest from their bitcoin.


Nexo is a high-quality platform that allows users to earn interest in stable coins. The interest rate is up to 8%, and this interest is paid out daily. Another pro of opening a bitcoin savings account is that there is no lock-up period, zero withdrawal fee, instant withdrawal is allowed, and last, but not least, Deloitte handles its auditing.

Nexo supports all central stable cryptocurrencies. These include EUR, USD, USDT, TUSD, USDC, GBP, PAX, and DAI.

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Very popular bitcoin backed loans provider.

Piggybank by OKEx

This savings platform is a bit different from the rest, but if you have been trading in cryptocurrency for a while now, this is something you should look into trying. It is a VAS(Value Added Service) that allows users to earn OKEx’s income through margin loans. Highlights include the fact that there is no minimum deposit amount. Interest is paid daily and compounded, there is no locking period, and users can therefore deposit and withdraw at any time.

Cryptocurrencies supported by OKEx include bitcoin, Ethereum, Litecoin, USDT, TRX, EOS, and XRP.


A service offered by OkEx exchange.


You can get a loan or earn interest on Crypterium. 

Borrowing money on Crypterium is especially lucrative and cheap since the offer USDT loans with an interest rate of only 1% for up to 12 months.

If you want to earn money with your crypto, you can lend it out via Crypterium and earn up to 15.6% interest (on a low-cap, fringe token TON Crystal). Rates on other coins like BTC, ETH and USDT are lower and amount to 5.4%, 7.2% and 9.6% on 12 months long loans.

There are always risks involved in any type of action you do in cryptocurrency (AND IN LIFE). Avoid them by choosing a regulated and insured broker with cold storage and disaster funds (most of them on this list fall in that category).

Advantages of Bitcoin savings accounts

✅ One of the main advantages of saving your bitcoins in a savings account rather than in your bitcoin wallet is the fact that you can earn interest with very little involvement on your part. Keeping your bitcoins in a savings account makes it a passive way of earning returns on your bitcoin.

✅ Bitcoin savings accounts holders do not have to wait until the end of the year to get their interest. Interest is given on a daily, weekly, or monthly basis, depending on the type of savings account held.

✅ Starting a bitcoin savings account is very easy and fast. No paperwork is required. It is as easy as transferring funds from your bitcoin wallet to a savings account and start earning interest immediately.

✅ You can quickly deposit and withdraw your bitcoins at any time (This depends on the type of savings account you have. This doesn’t apply to savings accounts with a locking period)

✅ Your funds are secure in that any losses incurred by the savings account service provider do not affect your account and you can easily access your account and withdraw your bitcoin at any time(Take note that this varies with the savings account you have saved your bitcoin with)

Are bitcoin savings accounts secure?

Where cryptocurrency is involved, there is always the risk of losing funds because you do not hold private keys for them. There are a number of risks involved with saving your money in a bitcoin savings account. It is, therefore, up to you as an investor to gauge whether the annual return on investments is worth the risk.

Most of the bitcoin savings account service providers are reasonably small, and this makes it difficult to ascertain which service providers are reputable. It is advisable to take time before choosing which savings account service provider to go with to do your research and get opinions from highly established bitcoin users whose reputation is a necessity for them to maintain.


A bitcoin savings account is perfect for people who already think that the value of the bitcoin this set to increase in the future. Before you decide on a bitcoin savings service provider to open an account with, make sure to do your research and be aware of the risks involved. Bitcoin savings accounts are safer than keeping your funds in a bitcoin wallet because the Bitcoin banks have venture capital to cover losses in case anything happens.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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