You can get a cryptocurrency savings account which will help you gain interest over time, but there is also a cost that comes with this account as well. These banks are offering about 9-12% interest on Crypto which is much more than you can get from a savings account at a traditional bank. The highest rate is for coins USDC and Tether which hit 12%. However, when you use cryptocurrency you are always prone to extreme market conditions and cyber attacks.

Key Takeaways:

  • Crypto banks such as BlockFi and Nexo are offering very high interest rates on savings.
  • The interest rates are lower if you hold more of a cryptocurrency.
  • Crypto savings aren’t insured and the banks reserve the right to halt transfers or withdrawals.

“If you’re willing to hand over your crypto to a bank for a profit, then you open yourself up to losing it for good.”

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