Looking to grow your crypto investments? Then a crypto savings account is all you need. A crypto savings account helps you earn interest on your holdings. And all you have to do is keep your assets on a crypto lending platform for a while.
There are many crypto savings accounts available. So the question is, which are the best crypto savings accounts for UK residents?
Well, to help you with this question, I will talk about some of the well-known crypto lending platforms. So let’s go :
Best UK Crypto Savings Account
1.BlockFi
BlockFi is one of the best crypto savings accounts you can try. It is a cryptocurrency exchange that offers you paid accounts and low interest loans all over the world.
The platform does not charge any transaction fees on your trades. Plus, there are no hidden fees or minimum balances.
With a BlockFi Interest account, you will be able to earn between 3% and 8.6% compound interest on your cryptocurrency holdings. The interest rate varies from cryptocurrency to cryptocurrency and fluctuates with market values.
Many crypto platforms including The Money Mongers, ranks BlockFi as the best crypto savings account on the market because interest with BlockFi accrues daily and is added to your account each month. Thus, you will earn interest on a monthly basis.
In addition, BlockFi also offers you a Bitcoin rewards credit card, and it is the first company to do so. With the credit card, you can get 1.5% back in Bitcoin on your purchases. Additionally, the rewards will be added to your BlockFi Interest Account. Thus, it will also start earning interest.
2. Celsius Network
Celsius Network is another popular platform that offers a crypto savings account. It is primarily a decentralized finance or DeFi platform that focuses on crypto lending, borrowing, and earning. The platform is an ideal solution for anyone looking to earn passive income in the crypto space.
With Celsius Network, you will be able to earn the best rates on any amount of crypto and get paid every Monday to keep HODLing your assets. Plus, you can earn up to 25% more rewards when you choose to earn in the CEL (native Celsius token) token.
The good part is that there is a calculator on site where you can calculate how much you could earn over a certain period of time.
Using Celsius Network is also extremely simple and has some unique features. One of these features is the CelPay which allows you to send and receive payments directly from the application.
3. Gemini
Gemini is one of the most popular crypto exchanges available in the market which also offers you a crypto savings account.
His savings account is known as Gemini Earn, and with this, you can receive up to 8.05% APY on your cryptocurrencies and stablecoins.
Getting started with Gemini Earn is extremely easy, all you have to do is open an account on the platform and trade any amount of crypto, and transfer it to Gemini Earn. That’s it, and now you will start earning interest on your crypto assets.
The good part is that unlike other platforms, you are allowed to redeem and move your crypto assets to your trading account with interest at any time. Plus, there are no minimums, transfer or redemption fees.
It allows you to earn interest on a daily basis. Additionally, you can deposit and receive over 110 times the national average interest rate, with high-yield crypto returns. Also, you can check the interest rate this way.
4. You Hodler
YouHodler is another popular DeFi platform that allows you to earn interest on your crypto holdings. With this platform, you can turn your cold assets into big profits.
YouHodler lets you earn up to 12% APR with compound interest. For this, you just need to deposit your crypto assets in savings accounts.
It lets you earn interest on coins like Bitcoin (BTC), Pax Gold (PAXG), and a bunch of other stablecoins. Additionally, YouHodler deposits crypto interest earnings directly into your wallet every week.
It also comes with a tool named Multi HODL. This tool helps you capitalize on market volatility. This way you can boost your savings and keep your daily interest. Moreover, you can boost your crypto and find the right balance.
5. Hodlnaut
Hodlnaut is another popular platform that offers you a crypto savings account. By using Hodlnaut, you will be able to earn up to 12.73% APY. The good part is that there are no lock-up periods or minimum deposits like most other platforms.
You can deposit and withdraw cryptocurrency at any time. Moreover, at present, it only supports six cryptocurrencies, including BTC, ETH, DAI, USDC, USDT, and WBTC. You can also use its on-site calculator to find out how much you could earn.
Additionally, Hodlnaut’s Preferred Interest Payout feature allows you to earn interest on your favorite crypto asset. As a result, you will enjoy the flexibility and freedom to earn interest in the cryptocurrency of your choice and maximize your profits.
Along with these, it also comes with a token exchange feature. You can use it to easily swap tokens and rebalance your portfolio without moving your funds from the platform.
6. Point-of-sale financing
Outlet Finance is also one of the best savings accounts for UK residents. It is a savings app that allows you to earn more than 50 times the interest compared to a traditional savings account.
It is basically an automation system built on top of a P2P lending platform based on blockchain technology. The money you invest is converted into stablecoins. It will therefore not fluctuate like most other cryptocurrencies do. And then the platform lent your funds to borrowers.
The platform makes it very easy to save money at the highest possible rate. So you can earn passive income while keeping your coins.
7. Nexo
Nexo is another great platform that allows you to earn passive interest on your crypto holdings. With this, you can start earning up to 20%, which is paid out daily.
The platform supports over 31 digital assets including USDT, USDC, USDP, USDX, GPX, BTC, ETH, NEXO, etc.
Also, depending on your token selection, the interest rate will vary. For example, with USDT you can earn up to 12% APR, but with BTC or ETH you can earn up to 8% APR. You can use their on-site calculator to calculate how much you could earn with Nexo.
The platform also offers you a Nexo Card. The card is accepted by over 40 million merchants worldwide, and you can earn up to 2% instant cashback on all your purchases, and you can make payments in local currencies. Additionally, there are no minimum monthly repayments.
Last words:
So these were some of the best crypto savings accounts for UK residents. Now go ahead and check out these platforms, play around with their on-site calculator to find out how much you could earn with your crypto assets. Also make sure you are aware of the risks and benefits of a crypto savings account. So you can invest your money safely.
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