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Earn Interest Through Bitcoin Savings Account

by Pragati Shrivastava

A popular way of generating passive income through cryptocurrencies is earning interest on holding Bitcoin for the long-term. In this article we’ll explore some of the best ways to earn interest on your Bitcoin by HODLing, lending to other institutes, margin trading exchanges and P2P lending.

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A few resources shared here are a part of Decentralized Finance, DeFi, which lets you earn interest on leading cryptocurrencies. Though some or most of these methods are tested and effective, they may also be risky over the long term.

Bitcoin Saving Accounts

Interest (APY)


Supported Coins


6.2 %

Upto 1 week



3.9 %


BTC, ETH, XRP & Stable Coins


3 %

14 days lock-in period



3-5 %




8 %


Stable Coins

Top websites that support Bitcoin savings accounts

Piggybank by OKEx

If you are a day trader and you wish to earn interest on Bitcoin or altcoin holdings, Piggybank by OKEx is a great option. OKEx’s Piggybank is a VAS (Value Added Service) that enables users to earn income from margin loans.

Pros of OKEx Piggybank:

  • No lock-in period
  • Interest is paid daily and compounded
  • No minimum deposit
  • Instant deposit and withdraw

Unlike other platforms listed in this resource, the interest rate is not fixed for this platform. The interest rate is determined by interest accrued from margin trading on OKEx platform.

Compound Finance

Compound finance is at the forefront of the DeFi revolution where you can lend a few of the major cryptocurrencies and earn interest on them. When you lend cryptocurrencies using Compound, you are adding funds to their liquidity pool. It’s like lending to a platform and the platform further lends to users. Interest rates are determined algorithmically (real-time) based on supply and demand. The most common way to access the Compound protocol is by using Metamask. However, for users who are concerned about security DeFi saver is a better choice.

Pros of Compound Finance:

  • The protocol lives on the Ethereum blockchain
  • There is no lock-in period
  • Interest rate is not locked and changes based on supply and demand
  • Interest is paid after every ETH block confirmation (every ~15 seconds)


For earning interest in Bitcoin, BlockFi should be your first choice as Bitcoin Lending Platform. They offer interest up to 6.2% annual interest for top cryptocurrencies. Interest earned is paid out at the beginning of the month and it is compounded monthly. Minimum balance to earn interest is 0.5 BTC, 25 ETH, or $2500 GUSD. The amount of interest you will earn on crypto lending on BlockFi varies based on the amount you wish to lend. The locking period for BlockFi is one month and the withdrawal requires a manual interview and can take up to 7 days.


Nexo is a high-quality and high-liquidity platform that lets you earn interest on your stable coin holdings. You can earn up to 8% interest and it is paid out daily.

Pros of Nexo:

  • Supports all major stable coins
  • Instant deposit and withdrawal
  • No lock-in period
  • 100% asset-backed guarantee
  • Custodial insurance of $100 Million by BitGo and Lloyd’s of London
  • Business audited by Deloitte
  • Instant withdrawal from wallet with Zero withdrawal fees

The newest addition is Zero withdrawal fees for any of the cryptocurrencies from the Nexo wallet. They have a web app and mobile wallet, which makes it easy to use their platform.

The platforms that we have shared here are trusted and decentralized. However, we recommend traders to use the platform after conducting an in-depth research before transferring funds to the wallets of these platforms.

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