What Can You Expect in the Bitcoin Saving Account Market Today?

Interest-bearing crypto saving accounts have become a popular new investment vehicle for digital asset investors who want to earn interest while HODLing.

In this article, we will take a quick look into the basics of the crypto saving account market.

What is a crypto savings account?

A crypto savings account is effectively the same as a savings account that you would open at your local retail bank, where you deposit cash – usually for a specific time period – in exchange for better interest rates than you are receiving on your current account. The difference, however, is that you are depositing cryptocurrency and are earning interest in cryptocurrency.

When bitcoin (BTC) savings accounts first appeared several years ago, the initial reaction by the community was to shout “scam!” At the time, bitcoin savings accounts were offered by small startups that lacked trust and the level of financial backing needed to provide this type of financial service….