Accumulate crypto in a smart way: Top 10 flexible crypto saving accounts in 2023

Explore the list of top 10 crypto savings accounts in 2023 that can empower you to generate rewards, without interrupting common cryptocurrency interactions.

Many enthusiasts like to hold their crypto, in an effort to benefit from potential long-term price appreciation. But instead of hiding coins under the digital mattress, it is possible to put them to work earning daily, weekly, or monthly rewards. For that, one can consider using savings services offered by crypto exchanges and other platforms.

From the user's perspective, crypto savings accounts work in a similar manner to fiat ones offered by traditional banks. Customers can move funds to a dedicated wallet, and receive relevant rewards after a certain period of time. 

Crypto saving accounts are typically divided into two types: flexible and locked. Flexible saving plans empower users to move their funds anytime, but may offer lower rewards. In turn, locked ones might provide higher rewards, but require users to wait a set period of time before moving funds.

Since flexible and locked savings accounts provide different user experiences, it would not be appropriate to compare them with each other. So we'll keep the focus of this article on flexible products. Read below for our take on the top 10 crypto savings accounts in 2023 that offer a flexible approach, and learn more about their major features.

1. CEX.IO — 3% reward for saving stablecoins

CEX.IO Savings features one significant advantage compared to other, similar services — an equal reward rate regardless of how many funds you allocate. Due to this element, users may potentially earn higher savings rewards with CEX.IO. Other providers typically offer lower rewards in disproportion to the funds you allocate.

CEX.IO Savings supports Bitcoin (BTC) and Ethereum (ETH) with 0.5% and 1% annual reward rates, respectively. Tether (USDT), USD Coin (USDC), Dai (DAI), and True USD (TUSD) feature 3% rewards. There are no minimum or maximum thresholds to start earning savings rewards with CEX.IO.

2. Binance — the highest APR for low-cap crypto

Binance supports more than 200 assets for flexible savings. This offers high versatility for users to select appropriate tokens. However, the platform's reward rate is considered less transparent compared to others. 

Its "Bonus Tiered APR," which is featured for certain assets, may change daily. Because of that, users may need to monitor reward rates to better evaluate earnings. The highest APR applies to low-cap cryptocurrencies, while users can find better yields for BTC, ETH, and stablecoins outside of Binance.

3. KuCoin — floating reward rate

KuCoin supports a wide array of assets for flexible savings, including mid-cap cryptocurrencies. However, it is not obvious what assets can be selected as part of a savings plan. The main page of KuCoin's Earn service predominantly promotes other products with higher APY.

KuCoin's savings reward rate floats and may change daily. This means that the earned reward rate may significantly differ from the displayed one after users allocate their funds to savings. 

4. Crypto.com — the less you allocate, the higher the reward

Crypto.com features so-called "tiers" in its savings service. Tiers determine the reward rate you can potentially receive, depending on the amount of allocated funds. Typically, the more funds you allocate, the lower the reward. Minimum holding requirements to start earning savings rewards differ for each supported cryptocurrency. 

In addition, there is another factor that can affect potential reward rates — the amount of locked CRO tokens, Crypto.com's native cryptocurrency. Larger CRO token allocations may increase savings rewards, and the maximum threshold for a savings account. 

5. Bybit — APY Booster available

Bybit offers savings for more than 20 cryptocurrencies, and features a tier system. This empowers users with smaller allocations of cryptocurrency to take advantage of the highest available reward rate. Rewards paid in BTC, ETH, and stablecoins are relatively low compared to other platforms, while other assets may offer a more attractive APY.

When selecting flexible savings, it's possible to temporarily increase the reward percentage using the so-called "APY Booster" offered by Bybit.

6. Huobi — higher APY due to promo event

Huobi's flexible savings service, which is called "Auto-Invest" on the platform, features 15+ cryptocurrencies, including BTC, ETH, and stablecoins. At the moment of this writing, Huobi offers increased savings rewards as part of a current promo event. Because of this, APY for certain assets could be higher compared to other platforms. 

Huobi also has "featured" and "first-timer" products for special or limited supplies, where users can earn increased rewards. 

7. YouHodler — specific reward settlement conditions

YouHodler supports over 50 cryptocurrencies, and pays interest rewards on a weekly basis. The minimum and maximum allocations to participate in its savings service are $100 and $300,000 worth of dedicated cryptocurrency, respectively.

YouHodler offers relatively high rewards for stablecoins, but the platform features specific settlement conditions. If you release funds before the end of the weekly period, you will not receive interest earned during the uncompleted week. Furthermore, additional crypto deposited within the weekly period will earn rewards only during the next distribution period.

8. CoinLoan — increased rewards for native token owners

In addition to 20+ cryptocurrencies, CoinLoan offers the ability to earn savings rewards in Euro and Pound Sterling. In order to receive relevant rewards, users need to store assets for at least one day. However, rewards are credited to user balances on a monthly basis. 

CoinLoan has its own native token, called CLT. If staking a certain amount of this token, users can obtain increased flexible savings rewards. 

9. Nexo — loyalty and classic tiers

Although Nexo displays relatively high savings rates, the terms to earn these rewards are quite specific. The platform features a complex system with several layers that can increase potential rewards. They include loyalty tiers that depend on the percentage of NEXO tokens in the user portfolio, and classic tiers that depend on the amount of allocated funds.

In addition, if users decide to receive rewards in NEXO instead of the underlying asset, this can also potentially increase rewards. The minimum threshold to start is $10 worth of selected cryptocurrency. 

10. Ledn — no minimum required

Ledn offers savings rewards only on two cryptocurrencies — BTC and USDC. The platform is using a classic tier system for BTC deposits, meaning the more funds you allocate, the lower the reward rate. Although there is no minimum balance required to earn interest, accounts are still subject to withdrawal limitations that are different for each cryptocurrency.