When you search for high-yield savings accounts in New Zealand, you might be surprised to find that there are now several online platforms that allow you to earn interest on your cryptocurrency holdings. These platforms offer the same benefits as regular savings accounts, but with some added benefits.
Today we’ll take a look at five of the best crypto wallets in New Zealand. Hopefully, this list helps you find the right platform for your need and lets you start earning interest on your cryptocurrency holdings!
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1st Best Crypto Wallets in New Zealand: Hodlnaut
Hodlnaut offers crypto-based interest accounts globally and also in New Zealand. Basically, you can earn interest on cryptocurrencies like bitcoin and ether by depositing them in Hodlnaut. Hodlnaut offers 13.86% APY, which is one of the highest interest rates you can get anywhere. Users can choose which cryptocurrency they want to earn interest in, so if you prefer bitcoin, then you can earn interest in bitcoin—or any of eight other supported currencies.
You can use Hodlnaut on your phone or tablet, and it’s really easy to use. And if you want even more security, Hodlnaut provides Nexus Mutual Custody Cover as an optional service that acts as an extra layer of protection for your digital assets. Hodlnaut has recently received an in-principle approval (IPA) for a Major Payment Institution License in Singapore from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PS Act) for its Token Swap feature. The firm is also a certified Fintech by the Singapore Fintech Association, an accreditation recognized by the MAS.
2nd Best Crypto Wallets in New Zealand: Nexo
Nexo offers a wide array of products. Its main product is an account where users can earn interest on either their crypto or fiat assets. Nexo also offers crypto loans and a debit card, which is a way to spend without selling the holdings in your Nexo wallet. By offering innovative and tax-efficient crypto products.
Nexo is on a mission to replace the traditional banking system and maximize the value of digital assets by allowing people to spend their holdings without selling them. Currently, Nexo supports 20+ crypto assets and several fiat denominations, including the Pound Sterling. It is an excellent multi-asset wallet that allows hodlers to earn up to 17% in annual interest paid in Nexo tokens.
3rd Best Crypto Wallets in New Zealand: Crypto.com
Navigating the cryptocurrency world can be tricky, but Crypto.com makes it easy to buy, sell, trade, and even spend over 40+ cryptocurrencies in New Zealand. The platform also enables you to hold and manage your Crypto.com Visa Card topped up with fiat or crypto, making crypto payments quick and simple. And if you’re looking for a way to lend out your crypto assets in New Zealand and make a little extra on top, then go for Crypto.com—they have an interest-earning program for users who lend out their crypto and earn up to 14.5% APY.
4th Best Crypto Wallets in New Zealand: BlockFi
BlockFi is a cryptocurrency lending platform that allows users to earn interest on their cryptocurrency deposits. The company was founded in 2018 and has rapidly grown since then. BlockFi currently offers competitive interest rates of up to 11% per year on cryptocurrency deposits.
Users can take out loans against the amount they have deposited, allowing them to hold onto their cryptocurrency instead of selling it when they need cash. BlockFi supports Bitcoin, Litecoin, Ethereum, USD Coin, and GUSD. It also offers a crypto credit card that gives users 1.5% in Bitcoin back on all purchases with no annual fee. Additionally, new customers will get 3.5% back in Bitcoin within the first three months of using the credit card.
5th Best Crypto Wallets in New Zealand: CoinLoan
CoinLoan offers a simple and easy-to-use platform for all crypto investors where they can earn more on their digital assets. Not just that, CoinLoan also has a fiat-on-ramp service with which hodlers can transfer their crypto holdings from an exchange to a lending service on one platform. With the interest account, you can earn up to 12.3% APY and support 25 assets, including the popular ones like BTC, USDC, and ETH.
Also read: 6 Best Bitcoin Savings Account
For the crypto hodlers in New Zealand who have been baffled by the lack of interest-earning platforms for crypto assets, there is finally some relief with the top five crypto wallets listed above. These are excellent options for those who want to generate passive income without the hassle of being an active trader. All the user has to do is sign up for an account, deposit their cryptocurrencies, and start hodling.