What is a Crypto Interest Account? [Beginner’s Guide]

The age of cryptocurrency has shown us a plethora of ways to invest, trade, and build your career. For some, the downside of such rapid growth is all the complicated tools that have risen with it.

A crypto interest account may seem like just another detail on the pile, but it’s actually an important feature for some traders. It might even be the dealbreaker that stabilizes your crypto career. What should you know before getting an account?

Below we’ll break down the function of a crypto interest account, as well as the pros and cons.

What is a Crypto Interest Account, Anyway?

All crypto platforms come with their own unique features to help you trade, invest, and network conveniently. A crypto interest account is similar to a bank account, with one key difference.

A bank account allows you to save money, send gifts, and enjoy benefits related to your credit card. You’re likely familiar with the ability to add up interest on your savings account according to the regulations of your bank. A crypto interest account is similar in that regard, with the sole exception in the risk you’re accruing over time.

Cryptocurrency can reduce your risk in some ways, but increase it in others. 

#1: Crypto Interest Accounts Still Have Fees and Limits

There’s nothing unlimited about money. Cryptocurrency works very much the same, as your crypto interest account still has limits on what you can or can’t do.

The fees you rack up will vary depending on the platform. You might also end up spending a little extra if you have to convert from a foreign currency to American dollars. Before you choose a platform, double-check for the following elements:

  • Flexible terms (which gives you little to no limits on how much you can withdraw or send)
  • Minimum withdrawal amounts
  • Maximum withdrawal amounts
  • Fixed terms (which can affect when you can access your money)

Related: How Does Bitcoin Mining Work?

#2: Your Risk Factor Using Cryptocurrency is Still In-Tact

Working with a traditional bank is nice and easy. You have reliable terms of service, basic coverage for your account, and the ability to expand your coverage with a small fee.

Cryptocurrency is a double-edged sword, giving you more freedom in exchange for less coverage. Your crypto interest account is no different and will have you navigating various risky factors such as:

No Default Protection

If someone doesn’t pay you what you owe, you’re probably out of luck. Crypto loans should only be done with absolute confidence that you’ll be paid back in a timely fashion. Double-check your crypto platform for any rules and regulations on this matter so you know your risk.

Digital Asses Change on a Dime

You win some, you lose some. Cryptocurrency is popular for its ability to change on a literal and metaphorical dime, providing new currencies on a weekly to monthly basis.

While this process is great fun for the ambitious and adventurous trader, it can be tedious and unpredictable for others. 

#3: Crypto Interest Account Regulation is Still Growing

The straightforward solution to mitigating risk with crypto interest accounts is to find a platform with more regulation, right? As it stands, security regulation is still spotty with cryptocurrency.

Some platforms such as Coinbase have recently canceled plans to expand into lending and interest-earning features. The process of managing and keeping track of interest is a complex one and an element many platforms are still tentatively heading into. 

Related: Best Crypto Exchanges And Platforms

What sets one financial hub apart from another? Accessibility. We’re proud to bridge the gap between you and today’s most ambitious fintech platforms.

a golden bitcoin sitting in a pile of coins against a black background

#4: Crypto Platforms Can Be State Exclusive

Do you live in New York? You won’t be able to use BlockFi or Crypto.com. 

Doing your research beforehand as to the limitations of your location is essential to enjoy cryptocurrency successfully.

#5: Returns Over Time are Difficult to Calculate 

A traditional bank makes it easy to track your investments with reliable, consistent metrics. Cryptocurrency is highly dynamic at the best of times, which can work in your favor or against you.

‘Stablecoins’ is a term for cryptocurrency with a direct dollar comparison, while ‘native cryptocurrencies’ will have to change value sometimes by the day or the week.

Related: Four Kinds of Blockchain Structures: Which is Best for You?

illustration of a man in a black suit walking up a staircase to a bitcoin


A crypto interest account is a rather appealing notion for the passionate cryptocurrency trader. You have the ability to enjoy interest, track your investments, and stay on the cutting-edge of today’s technology.

For other cryptocurrency traders, this account is riskier on top of risk. Returns over time are still tricky to track with crypto interest accounts, on top of the lack of oversight and regulation. You’re also not immune to withdrawal fees, transfer fees, and payment limitations. 

Take some time to look over your cryptocurrency habits so you can figure out if a crypto interest account is compatible with you.

Give your cryptocurrency journey a head start. Contact us today to learn more about how you can access blockchain infrastructure, crypto interest accounts, and fintech support.