What is a crypto savings account?

Just like a savings account with a conventional bank, the company behind a crypto savings account will lend, invest or stake your crypto on your behalf, then pay you a cut of the proceeds as regular interest payments. Many exchanges (like Coinbase or Binance) offer crypto savings accounts, as do crypto companies like BlockFi, Celsius and Nexo.

What are crypto interest accounts and how do they work?

Cryptocurrencies and DeFi apps (Decentralized Finance) are changing the way that people can earn money through crypto interest accounts. These accounts let individuals earn interest on their crypto holdings over time.

What are crypto wallets and how do they work?

But crypto wallets (aka “blockchain wallets”), which have been around since the early days of Bitcoin, serve a lot of purposes beyond just HODLing that cryptocurrency with no fees. Wallets can also store digital collectibles like NFTs that you might want to buy, sell, trade, or transfer to someone else, or even to another wallet you own.

What are crypto-friendly banks?

Crypto-friendly banks offer traditional banking services alongside crypto offerings. Juno offers a banking suite, crypto trading, cashback debit card rewards, and loyalty program. Robinhood offers cash deposits with FDIC insurance and up to 3% APY. Revolut offers a traditional banking stack with wealth products to buy stocks and crypto.