Growing up, my parents taught me the importance of saving money. The idea was that if I saved money, I would have enough by the time I reach adulthood.
Alas, when I grew older, I was exposed to the realities of inflation. Looking at the 0.5%p.a. interest rates on my bank account didn’t help either. (You may have access to higher interest rates if you’re saving a larger amount of money in banks, but most of them pay a maximum of 4%.)
However, things have changed. With the advent of cryptocurrency and DeFi, we now have access to cryptocurrency savings accounts that promise higher annual returns — some as much as 19.5%!
In the following sections, I’ll explore the best crypto savings accounts you can consider. Note that we will not touch on staking and other forms of DeFi yield generation protocols in this article.
P.S. if you’re new to crypto, attend our next live masterclass to get your basics down.