5 Best Platforms To Earn Interest On Bitcoin & Crypto

our Pick

Best Platform For

blockfi

As we witness global interest rates get closer to zero (and even negative in some countries), more people are turning to the cryptocurrency market as an alternate means to generate an additional income. A popular way to earn passive Bitcoin  is through crypto interest accounts and lending platforms.

These services allow you to earn interest on Bitcoin and crypto without having to trade the markets using an exchange. Essentially, they enable borrowers and lenders to exchange money between each other to receive either a crypto-backed loan (paid in fiat currency) or earn high interest on their crypto holdings.

In this article, we reveal our picks for the best sites to earn free Bitcoin and cryptocurrency.

How To Earn Interest Crypto

To start earning interest on crypto, Bitcoin and stablecoins, follow these simple steps:

  1. Register an account with a crypto savings platform such as BlockFi
  2. Complete the signup registration process and verify email
  3. Go to top menu and click on 'Deposit'  
  4. Select Bitcoin, crypto or stablecoin to deposit
  5. Transfer crypto to the BlockFi wallet address  
  6. Earn compound interest on Bitcoin & crypto deposit 

Where To Earn Interest On Bitcoin, Crypto, Stablecoins & Fiat

Here is our consolidated list of the best places to collect interest with a crypto savings account: 

  1. BlockFi
  2. Crypto.com
  3. Nexo
  4. Celsius Network
  5. Binance

We have assessed each lending platform based on important factors such as ease of use, reputation, available digital assets & stablecoins, interest rates, fees, security and customer support.

Platform

Interest Rate

Crypto Assets

Review

Rating

Promotion

Website

BlockFi

Up to 8.6% P.A

5+

4.7 / 5 

$50 free in Bitcoin

crypto.com

Crypto.com

Up to 12% P.A

25+

4.5 / 5

None available at this time

nexo

Nexo

Up to 12% P.A

8+

4.4 / 5

None available at this time

celcius

Celsius Network

Up to 12% P.A

25+

4 / 5

None available at this time

binance

Binance

Up to 3.14% P.A

18+

3.5 / 5

None available at this time

Where To Earn Interest On Cryptocurrency

This comparison guide provides an overview of where you can sign up for an interest account and start earning additional profit on your crypto, Bitcoin, stablecoins and even fiat currency. If you want to learn more about each provider, click on the links to read our reviews or browse our Exchange Review category.

BlockFi

BlockFi is a digital assets financial company that provides professional services to individuals and businesses worldwide. The company is regulated at the federal and state level in the United States (48 states). 

GET $50 FREE IN BITCOIN. OFFER ENDS 31ST DECEMBER, 2020

BlockFi offers one of the easiest ways to receive interest on Bitcoin, crypto and stable coins. Users can register for an interest account to store their cryptocurrency assets such as Bitcoin and Ethereum on the platform. In return, users are rewarded with interest up to 8.6% on their capital invested. The interest amount is paid monthly at the beginning of each month which will accrue the next day after the deposit.  

To start earning interest on cryptocurrency portfolio, create an account with BlockFi now.

blockfi

BlockFi's interest rates compound monthly, which means if you make interest in Month 1, your next interest payment will be calculated off of your new total balance (old balance + interest payment from Month 1). This will allow investors to build up wealth over the long term.

There is also no minimum or maximum deposit amount so beginners can get started with BlockFi immediately. Just transfer funds to the platform and earn free crypto.

Asset

Interest Rate (APY)

Bitcoin

4.9% per year

Ether

3.6% per year

Litecoin

3.8% per year

GUSD

8.6% per year

USDC

8.6% per year

If you didn't know, BlockFi offers other services to its users such as low-cost USD loans secured with crypto, advanced cryptocurrency trading platform (while earning interest) and purchase stablecoins using USD wire transfers.  

Crypto.com

Crypto.com is a digital asset platform that offers several digital currency products and services including a crypto interest account. The network's sole purpose according to its founder is to increase the adoption of crypto on a global scale by making it easy for individuals to access. 

With over 1 million users on its platform, Crypto.com offers a powerful alternative to traditional financial services, making it easier for everyone to obtain cryptocurrencies. The digital currency platform is known for its crypto app which lets you buy, sell, trade, spend, store, earn, loan cash and even pay bills with crypto! 

cryptocom earn

Crypto.com app allows its users to earn up to 8% on cryptocurrency assets such as Bitcoin and 12% on stablecoins. This essentially replaces your bank account and customers can deposit their preferred digital assets to the app to begin accruing interest on a daily basis.

Related: Crypto.com Review: Is It The Next Binance?

Interest earnings accrued are credited to your wallet every 7 days and paid out in the same currency as the deposit. For example, if you deposit BTC, you will bring in interest that will be paid out in BTC. You can have multiple deposits to accrue interest for different cryptocurrencies in your wallet.

Crypto.com app users can that stake the platforms MCO token to earn higher interest rates as listed below. As these rates can change often, we suggest checking the rates on the app before creating an interest account.

crypto app rates

Nexo

Nexo is an online cryptocurrency loan service that offers financial benefits for storing crypto assets on the platform such as Bitcoin and Ethereum. In return, Nexo offers a high interest account where users can earn up to 10% p.a. on Bitcoin, crypto, stablecoins and fiat currency.

The lending service is licensed, regulated and insured up to $100 Million against theft with BitGo and available in 40+ fiat currencies and across 200 jurisdictions worldwide.

nexo website

Since it's launch in 2017, Nexo has processed more than 1.5 Billion dollars from over 800,000 users in more than 200 jurisdictions across the globe and supports over 40 fiat currencies. It has gained widespread popularity as an alternative crypto investment method and storage option for individuals and companies to leverage additional financial benefits for borrowers and lenders.

Related: Nexo Review: How To Earn Interest On Your Crypto

Crypto interest savings services such as Nexo are attractive for customers as the interest earned is significantly higher than the rates offered by traditional financial institutions such as banks. Interest in a Nexo savings account is paid out daily which allows the savings account to compound and grow rapidly.

nexo earn

The platform has recently doubled it's interest rates across its supported digital assets and brings the interest rate up to 6% APY, which previously ranged between 4% and 5% on cryptocurrency assets.

Users can also earn an additional 2% when paid out in NEXO tokens. For example, an interest account with USD can earn 12% APY when paid out in the platform's native token.

Asset

Interest Rate (APY)

USD

10% per year

EUR

10% per year

GBP

10% per year

USDT

10% per year

TUSD

10% per year

USDC

10% per year

PAX

10% per year

DAI

10% per year

Users that provide liquidity to the Nexo.io platform by depositing and storing their fiat and crypto assets with Nexo are eligible to register for a savings account. Funds from the wallet funds can be accessed at any time allowing you to withdraw funds to a personnel hardware wallet or sell back to fiat using a reputable exchange. 

Celsius Network

Celsius Network is a digital asset platform that offers its users access to financial services and benefits that are not offered by traditional institutions. It is the goal of the platform to disrupt the financial banks on a global scale by offering services that will bring the next 100 million people into digital currency

Founded in 2017, Celsius Network allows users to earn interest on crypto. Crypto wealth that is stored in private hardware wallets for safe-keeping can earn up to 12% per year in a Celsius wallet.

celsius earn

Celsius Network operates in a similar model to the other providers which offer high-interest commissions in return to users for depositing assets on the platform to fund lenders.

There is no minimum deposit amount and you can withdraw funds at any time without worrying about fees or penalties. The freedom to get high interest on your own terms without penalties or restrictions is an attractive feature of the Celsius app.

celsius network bitcoin

For investors that are not familiar with or experienced to trade a portfolio on margin platforms to earn crypto, a 10% annual return is a great option to diversify and grow wealth without the risks associated with trading. The platform supports the major cryptocurrency assets such as Bitcoin, Ethereum, Litecoin and most stablecoins.

Create an account with Celsius Network to start earning interest.

For example, if you deposit 1 Bitcoin into Celsius Network for 12 months, this would equate to $7.32 interest per week, totalling $380.88 for the year. If you decide to be paid out in Celsius Network's native token TEL, the rate is 35% higher. 

Asset

Interest Rate (APY)

Bitcoin

4.03% per year

Ethereum

3.82% per year

Litecoin

4.13% per year

XRP

3.61% per year

TUSD

8.69% per year

USDC

8.69% per year

PAX

8.69% per year

Tether

8.69% per year

Binance

Binance is one of the best crypto trading exchanges in the world that offers something for both crypto investors, HODL'ers and traders. It is often regarded as the world's leading cryptocurrency exchange that provides an online platform that bridges the gap between traditional fiat money and crypto through innovative feature-rich service.  

While the platform is well-known for offering its innovative trading products, altcoin trading and new features, the team has recently launched a way to get interest on Binance with the introduction of 'Binance Savings'.

Binance Savings

The Binance Savings account allows you to grow your wealth by accruing interest on your crypto that is stored in a cold storage wallet by the platform.  Essentially, you’re lending your assets to margin traders on the platform, and they pay interest to you in return for borrowing your funds.

Related: Binance Review: Crypto, Trading & Fees

Binance Savings/Interest account supports a wide variety of lending options including major digital currency coins such as Bitcoin (BTC), Ethereum (ETH), Binance USD (BUSD), Tether (USDT) and others.

binance savings account

Users can either choose from a Fixed Deposit or Flexible Deposit which provides slightly different interest rates as shown below. Flexible deposit allows you to withdraw your funds at any time with a variable rate. This type of interest account will appeal to traders that want to earn interest on their crypto portfolio while waiting for a trade setup.

Frequently Asked Questions

Do You Get Interest on Cryptocurrency?

Cryptocurrency owners can get interest paid out on Bitcoin, Ethereum, Tether and other digital assets by depositing funds into a website the offers lending and interest savings accounts. Sites such as BlockFi incentivise the owners to give up ownership of their assets by storing them on the platform. In return, the owners are rewarded with interest which can be withdrawn with the initial outlay. 

Is It Safe To Earn Crypto Interest?

Bitcoin and cryptocurrency interest and savings account platforms such as BlockFi and Nexo use bank-like security protocols and safety measures to ensure customer funds are kept safe and protected from threats such as online theft and hackers.  

Does Bitcoin Pay Daily Interest?

Lending and crypto savings platforms such as Nexo and BlockFi pay daily interest on cryptocurrency assets stored on their platform such as Bitcoin and stablecoins. The interest amount accrued compounds daily, increasing the yield and return for the investors.

Should I Invest Bitcoin To Earn Interest?

Crypto interest platforms are a popular way to earn additional income. Lending platforms can offer attractive interest rates as high as 12% APY on crypto, which is significantly higher than a traditional bank. The decision to earn interest on your Bitcoin comes down to risk tolerance. With any investment, it's generally a good idea to have a well balanced crypto portfolio and don't put all your eggs in one basket to reduce exposure to events outside an investors control.

Is Nexo A Good Investment?

Investors and traders that own Bitcoin and other cryptocurrency assets within their portfolio can leverage the services of Nexo to earn a higher return on their investment by accruing interest over time. It is often perceived as the equivalent of earning dividends on a stock to earn passive income whether the underlining asset appreciates in price or not.

How Much Should I Invest In Bitcoin & Crypto Savings Accounts To Earn Interest

 however the users does not hold access to the private keys once Bitcoin is transferred to the platforms to earn interest. The golden rule with investing is to never invest more than you can afford to lose. The same rule applies to Bitcoin and crypto interest savings accounts.

Conclusion

Cryptocurrency investors can now grow their wealth by taking advantage of crypto lending platforms to earn passive interest on their Bitcoin, crypto and stablecoin holdings. Long term crypto enthusiasts that have been holding onto their digital assets now have the flexibility to generate additional profits without selling or liquidating their portfolio.

We hope that you found this article on the best sites to earn interest on your crypto useful. If you're comfortable with transferring crypto from your hardware wallet to an online lending service, then you will not be disappointed with the compound interest that you can accrue using these platforms. It is one of the easiest ways to earn free crypto.

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Kevin
Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 after discovering it's potential as an alternative to fiat currency. He is also a trader with over 8 years of experience and is now trading crypto using various platforms. Now, he is focussed on helping others learn about cryptocurrencies via hedgewithcrypto.