How do crypto interest accounts work?

Here’s a quick explainer on how crypto interest accounts work. What is a crypto interest account? A crypto interest account is generally a crypto platform’s offering that lets you earn interest on digital assets that you’ve bought. You agree to lend out Bitcoin or altcoins (any cryptocurrency that isn’t Bitcoin) in exchange for interest.

What cryptocurrencies are available on NerdWallet?

NerdWallet has created guides to some widely circulated cryptocurrencies, including Bitcoin and some altcoins, or Bitcoin alternatives: Bitcoin is the first and most valuable cryptocurrency. Ethereum is commonly used to carry out financial transactions more complex than those supported by Bitcoin.

What is a cryptocurrency wallet?

A cryptocurrency wallet is a means of storing the public and private "keys" (address) or seed which can be used to receive or spend the cryptocurrency. With the private key, it is possible to write in the public ledger, effectively spending the associated cryptocurrency.

Are cryptocurrencies a cult?

Economist Paul Krugman argues that cryptocurrencies like Bitcoin are "something of a cult" based in "paranoid fantasies" of government power.