Best Crypto Savings Accounts in 2024 - High Yields and Strong Security

There’s no sense in letting your crypto sit idly by, right? That’s where crypto savings accounts come in. In 2024, many platforms offer enticing yields

There’s no sense in letting your crypto sit idly by, right? That’s where crypto savings accounts come in. In 2024, many platforms offer enticing yields with high APY. However, steering through these accounts requires careful consideration.

With features like flexible withdrawals and daily compounding interest, you’ll want to guarantee you’re choosing the right platform for your needs. Let’s take a closer look at the best crypto savings accounts in 2024 and explore how they can help you achieve your investment goals.

Key highlights:

8 best crypto savings accounts in 2024 – a closer look

Let’s dive right into the best crypto savings accounts. We’ll list each platform’s features and APYs, as well as their pros and cons to help you choose the best crypto savings account for you.

1. Kraken – Highest APY and great for beginners

Kraken allows you to earn interest on your cryptocurrency holdings through staking and yield farming, with select assets offering up to 26% annual percentage yield (APY).

Security is a top priority, with advanced features like two-factor authentication (2FA) and cold storage for protecting your assets against potential hacks. Their dedication to security makes them one of the safest crypto exchanges.

The platform is also very user and beginner-friendly. The user interface is designed for ease of use, and you can seamlessly deposit, withdraw, and manage your investments. Detailed analytics and reporting tools provide you with a thorough overview of your earnings and track your account performance over time.

Kraken’s customer support is responsive and available through various channels. Assistance is readily available for managing your account and addressing any technical difficulties that you might experience

Withdrawal fees do apply, and there is a minimum requirement for each withdrawal, so you are incentivized to withdraw in bulk, as opposed to doing it in increments.

With its solid security features and user-friendly interface, Kraken’s crypto savings account is a reliable choice if you want to earn interest on your cryptocurrency holdings. It sets a high standard for crypto savings accounts, and it’s an overall secure, efficient, and easy way to put your digital assets to work for you.

See our Kraken exchange overview to learn more about the platform’s suite of features.

Pros:

High APY of up to 26% on select assets

User-friendly and beginner-friendly platform

Advanced security measures like 2FA and cold storage

Cons:

Withdrawal fees and minimum withdrawal amounts

Visit Kraken

2. Nexo – High rewards for NEXO token holders

Whenever someone mentions earning interest on your crypto assets, Nexo is often the first platform that pops to mind. It allows you to earn up to 14% APY, with daily interest payouts and flexible lock-in periods that enhance liquidity.

The platform supports over 200 cryptocurrencies, so it’s a very versatile choice for investors with diverse portfolios.

You benefit from a loyalty program that rewards you with higher interest rates based on your holding of Nexo tokens. This feature boosts your earnings and incentivizes long-term strategic investing.

What’s important to mention is that Nexo doesn’t impose lock-in periods, which gives you the flexibility to withdraw your funds without penalties. This liquidity is always great to have and helps you manage your crypto savings effectively.

As a dedicated crypto savings platform, Nexo of course values security highly. They employ advanced measures including insurance for digital assets to safeguard your funds against potential risks.

A user-friendly interface and mobile access make it easy for you to manage your savings and track earnings in real time, which makes your crypto savings accounts both secure and accessible.

Pros:

High APY of up to 14%

Supports over 200 cryptocurrencies

Loyalty program for Nexo token holders

Cons:

No lock-in periods, which may not suit everyone

Visit Nexo

3. Coinbase – No lock-in preriods

Coinbase has a highly user-friendly platform that supports multiple cryptocurrencies and allows for seamless management of assets and interest earnings.

They offer a tiered interest rate structure that offers up to 12% APY on certain cryptocurrencies and up to around 5% APY on stablecoins like USDC. Their security measures include 2FA and cold storage for the majority of its digital assets.

One of the great advantages of using Coinbase for crypto savings accounts is that you can immediately access your earned interest. Similarly to Nexo, you can redeem your earnings at any time without lock-in periods.

Unfortunately, withdrawal fees apply and they can be fairly expensive, which could impact your overall returns when accessing funds from the account.

Also worth mentioning is that Coinbase integrates with mobile applications, so you can manage your crypto savings accounts and transactions on the go.

This combination of security, accessibility, and ease of use makes Coinbase a great choice, especially for those who