The cryptocurrency market has a lot of potentials, and many investors are keen on earning interest in their crypto assets. If you are new to the crypto space or even a seasoned investor, you might have already heard about the price volatility in the crypto market.
With so many exchanges and crypto lending platforms in Australia, hodlers are always looking for ways to earn a greater yield on their cryptocurrencies. Despite the market conditions, hodlers always want to grow their cryptocurrency portfolio.
A crypto savings account is an excellent option in this regard as it helps you to earn interest on your cryptocurrencies without actively trading. If you live in Australia and are considering crypto interest-earning platforms, then here is a list of the best crypto wallets to consider.
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Hodlnaut: 1st Best Crypto Lending Platforms in Australia
Hodlnaut is a Singapore-based startup available for users worldwide, including hodlers in Australia! You can earn interest rates of up to 12.73% APY on six supported assets, namely BTC, ETH, DAI, USDC, USDT, and WBTC. Besides the interest-earning account, users can also earn interest with Hodlnaut’s popular Preferred Interest Payout feature. With this unique feature, when the user deposits BTC, they can choose to earn interest in any other supporting coin as well.
Hodlnaut has another renowned feature called token swap, with which users can swap tokens effortlessly within the Hodlnaut platform. As for the customer service, Hodlnaut has a Trustpilot rating of 4.8/5 with a proven record of exceptional service. If you are looking for a reliable crypto wallet in Australia, Hodlnaut is a good option. It has over 10000 users and USD 500 million assets under its management.
Hodlnaut also has a security-first approach and has partnered with Fireblocks to provide good security for its digital assets. The platform also offers an optional Nexus Mutual Custody Cover with which hodlers can safeguard their funds additionally. Thus, if you wish to create a passive source of income, then Hodlnaut is an excellent option!
Also read, YouHodler vs CoinLoan vs Hodlnaut [Read Before You Invest]
Ledn: 2nd Best Crypto Lending Platforms in Australia
Ledn is a robust and secure platform that allows users to maximize their Bitcoin holdings to secure a loan against BTC. If you are keen on taking a Bitcoin-specific loan or savings account, Ledn is a great option. The platform essentially offers three products. Firstly, they have Bitcoin-backed loans for people who wish to take a loan while leveraging their BTC holdings. Moreover, there is also a bitcoin, and USDC savings account with which users can earn up to 6.10% APY on Bitcoin and 9.5% APY in USDC.
Ledn also has a B2X product that enables hodlers to quickly double their Bitcoin balance with a BTC purchase and a Bitcoin-backed loan. With B2X, users can increase their bitcoin holdings. As long as the savings accounts are concerned, you can withdraw the funds at any time. However, hodlers will need to bear a $10 fee for every USDC withdrawal.
Also read, Top 5 Crypto Lending Platforms in Hong Kong
Nexo: 3rd Best Crypto Lending Platforms in Australia
Nexo is a London-based platform that offers a multitude of products. It comes with a crypto interest account that allows users to earn significant interest rates on their crypto or even fiat assets. Nexo also has a Nexo card and crypto loan product. It also has a debit card that grants access to the crypto credit line, which users can spend without selling their crypto.
Nexo aims to replace the traditional banking system and provide tax-efficient and high-yield products for maximizing the value of digital assets. Nexo supports a variety of crypto assets, including Bitcoin and Ethereum, and fiat currencies like the Pound Sterling. The platform offers up to 12% APY for users that choose to earn Nexo tokens.
Also read, Nexo Card Review : Is It the Best Crypto Card?
Also read, BlockFi vs CoinLoan vs Nexo | Best Lending Platform?
BlockFi: 4th Best Crypto Lending Platforms in Australia
BlockFi is a US-based crypto lending platform that is very popular in cryptocurrency. The company started its operations in 2018 and has got very good traction since then. A BlockFi wallet enables you to earn up to 9.5% APY on cryptocurrencies. Thus, if you are already a hodler, you can easily deposit your coins with BlockFi and make the most of them.
With BlockFi, you can also borrow against your coins. So instead of selling your coins when you require funds, you can choose to take a loan on them. BlockFi allows you to trade crypto such as BTC, LTC, USDC, ETH, and GUSD. Moreover, BlockFi has also launched a Bitcoin Rewards Visa Credit Card using users to earn rewards in Bitcoin. The card offers a 1.5% rewards rate in BTC on all card purchases without any annual fee. You can earn 3.5% in Bitcoin within the first three months of using the credit card. So if you are residing in Australia and looking for a crypto interest-earning account, then BlockFi is a solid option.
Also read, BlockFi Credit Card Review | Are you Getting the Best Card?
CoinLoan: 5th Best Crypto Lending Platforms in Australia
CoinLoan is based in Estonia and offers its services to users in Australia too. It aims to provide an easy-to-use platform for all crypto investors to earn more on their digital assets. Hodlers can also transfer their crypto holdings from an exchange to a lending service on one platform. With the CoinLoan interest account, you can easily earn up to 12.3% APY and support 25 assets, including popular coins like BTC, ETH, and USDC.
Also read, YouHodler vs CoinLoan vs Hodlnaut [Read Before You Invest]
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