Discover the Best Crypto Interest Account in 2022

Headquartered in Estonia, a crypto lending platform Сoinloan stands out due to its eye-catching rates, flexible conditions, and multi-layered security. It also offers free deposits and withdrawals. It supports 26 assets and lets users make passive income from fiat, stablecoins, and crypto. Based on our analysis, it offers the most favorable terms overall as:

• The best interest rate of 12.3% is available for fiat and stablecoins.
• A slightly higher rate (12.73%) is found on Hodlnut, but this platform works only with six assets and charges a withdrawal fee.
• Nexo's high yield accounts offer up to 12% APY (17 cryptocurrencies), but only for fixed-term arrangements. In addition, users pay for withdrawals.
• The interest rates are lower on both BlockFi and Gemini (up to 9% APY and up to 8.05% APY, respectively.)
• Coinbase does not offer interest accounts per se but lets members profit through Coinbase Earn. Unfortunately, it charges high fees for crypto-to-crypto transactions, as well as fiat conversions.

Interest accounts are relatively simple products. Unlike crypto loans, they do not include changeable conditions like LTV, as the interest rate does not depend on asset volatility. Generally, investors look for the best APY, reliability, security, and support. All of these benefits are found on this EU-based platform.

Launched in 2017, CoinLoan is a user-friendly environment. While the name suggests a strong focus on crypto lending, functionality is quite versatile. Users can deposit, buy, sell, swap, borrow, and withdraw assets quickly and securely through the company’s website platform or mobile app.

The interest account is also highly customizable. It lets you earn profit daily as long as you want and request a withdrawal through different methods at any time. Find out more in our review.

Interest Rates

Rates are one of the biggest strengths of CoinLoan. Depending on the asset, fiat and stablecoin deposits can bring up to 12.3% annually. This offer is unbeatable, particularly considering other advantages like the absence of withdrawal and deposit fees.

The highest CoinLoan rate is accessible to clients who stake the company’s native coin. CLT, which currently costs $28,32, adds 2% to the basic rate. At least 125 CoinLoan tokens are required to unlock the bonus. As of this writing, the company offers four types of rates:

• 3% (base) + 2% for EUR, GBP, and stablecoins;
• 2% (base) + 2% for Bitcoin, Ethereum, and nine other coins (check the list in ‘Coins’ section below);
• 2% (base) + 2% for Cardano (ADA);
• 1% (base) + 2% for Maker (MKR), yearn.finance (YFI), Uniswap (UNI), Axie Infinity (AXS), Compound (COMP), and Sushi (SUSHI).

Interest accounts function like bank deposits without lockups, so withdrawal is possible at any moment. To start making a profit, you only need to register and transfer the funds. Interest is accrued daily. It begins to accumulate once a deposit is received and is deposited daily at a specific time (14:00 UTC). Compounded interest is paid in the same currency on the first day of each calendar month, also at the same time (15:00 UTC).

This system is flexible, transparent, and easy to navigate. Unlike Celcius, CoinLoan offers the same terms to everyone regardless of their place of residence. There is only one condition for the premium rates — staking the native coin. As CoinLoan is also a lending platform, funds from investors technically become loans for borrowers. In this regard, it functions as a conventional bank.

Fixed Term or Flex

Some crypto platforms, such as NEXO, offer the best conditions to users who deposit their crypto funds for a fixed period. On CoinLoan, the term is flexible and unlimited whether you transfer fiat or crypto. It is up to you to decide how long to generate a profit. You can earn interest for a month, a year, or even longer.

There is only one condition: your deposit must stay on the platform for at least 24 hours, and the minimum amount is $100 (or its equivalent). The company never locks users’ funds, so withdrawals are available at any time. Deposits and withdrawals require just one click or tap in the personal dashboard.

Payout Method

CoinLoan works with several popular methods to ensure convenience for all users. They can convert their assets to fiat and collect them in three ways: through SEPA, SWIFT, or AdvCash. Each method has a minimum withdrawal requirement and works with specific currencies. You can transfer:

• at least 10 EUR via SEPA;
• at least 5,000 EUR/GBP via SWIFT;
• at least 50 EUR, 100 RUB via AdvCash.

SEPA is a cheap and fast method for users in the EU. It works for transfers of any size and takes one business day on average. SWIFT (or wire transfer) is a secure messaging system that allows transfers to any location. It takes between one and three business days.

AdvCash has a similar speed, but it allows cheap transfer in all supported fiat currencies. Note that this system does not work in the USA.

Loyalty Tier

Unlike NEXO or Celcius, CoinLoan does not distinguish between different loyalty tiers like Gold or Silver. Instead, users add 2% to the base interest rates by staking the platform’s native token CLT. On the one hand, this system may look less exciting. On the other hand, it is simple, while multiple levels with different bonuses can be rather confusing.

CoinLoan also has an affiliate program. Any user can take part by sharing their referral links. Spreading the word about the platform brings a profit — a percentage of every transaction made by the invited users. Find out more below.

Security

The platform’s storage for private keys is cold — i.e., disconnected from the online network, and most of the funds are kept in multi-signature wallets. All digital assets are insured for the total amount of $100 million from Lloyd’s bank. The insurance is provided by the custodian (BitGo). The company takes pride in its stringent security measures:

• Two-Factor Authentication based on the TOTP technology verifies every attempt to log in, withdraw funds, reset a password, etc.
• The platform uses cloud storage from a certified provider that major financial institutions trust.
• Cutting-edge encryption is in place: SSL with TLS 1.3. DNSSEC protects CoinLoan against DNS interference, while HSTS encrypts every browser request.
• DDOS protection is also provided.
• Web Application Firewall (WAF) analyzes server requests and prevents bots and hackers from accessing the network.
• Servers are not connected to the internet directly.
• The infrastructure is scanned for vulnerabilities daily.
• The company follows the Secure Software Development Life Cycle (SSDLC), which means that any modifications in the code are audited by developers, QA testers, and security
• PCI DSS Certification, which major financial institutions use, includes a series of penetration tests and audits.
• Users are protected against account takeover: CoinLoan blocks access to passwords and authentication codes. It notifies users of such attempts and includes details of the suspicious browsers and geolocation in the emails.
• The Bug Bounty Program rewards ethical hackers that help CoinLoan make its infrastructure more

The company monitors its systems around the clock to spot and avert any errors or suspicious activity. So far, CoinLoan has not faced any security issues. This supports its reputation as one of the safest crypto platforms worldwide.

Fees

The absence of fees for users, including holders of interest accounts, is one of the unique competitive advantages. While Nexo charges its members after a particular number of withdrawals, CoinLoan offers free deposits and payouts for everyone. There is just one exception — Visa/MasterCard deposits in Euros (4.2%).

Members can deposit or withdraw crypto and fiat free of charge every time regardless of whether they stake CLT or not. In addition, the company’s exchange rates for crypto are some of the best in the market.

Additional Features

CoinLoan lets users make their assets work in different ways. Aside from storing them for a passive income, they can trade or collateralize them to get fiat loans. Here are some extra features worth considering:

●     Loans

As CoinLoan uses crypto deposits to finance loans, you can borrow fiat or crypto against your coins — i.e., use them as collateral. This is an excellent solution for hodlers who need funds but do not want to sell their crypto. The growth of the collateral can absorb interest rate costs and even bring a profit, depending on the market situation. The loans are highly customizable, allow early repayment, and do not require credit checks.

●     Crypto Exchange

The company offers instant swipes with 140+ pairs and highly competitive exchange rates for users from all around the world. The interface is intuitive, and different payment methods are accepted. On CoinLoan, you can buy crypto for fiat and convert your funds back for easy withdrawals.

●     Mobile App

The company’s proprietary app makes account management possible on the go. Five screens and push alerts give users comprehensive control over their finances. They can make deposits, request withdrawals, apply for loans, make repayments, and more. If you do not want to install the app, you can open it directly within browsers, as the system has three versions: iOS, Android, and web.

●     Affiliate Program

Users who invite their friends to the platform are entitled to lifelong cumulative cashback. An interest account brings them a referral bonus of 0.1% every month, and they also get 0.2% of every exchange transaction and loan amount. One user can generate up to ten invitations.

The bonuses are paid in USDC and transferred to the user’s crypto wallet on the platform. The affiliate links can be shared via social media and integrated into blogs, websites, or QR codes.

●     Customer Support

The CoinLoan team assists users promptly and professionally. You can reach out to the company by email or phone. The website also includes a blog section with a wealth of information concerning everything from creating an account to withdrawing profit. The articles are regularly updated.

Coins

CoinLoan offers a decent selection of instruments. The platform currently accepts 26 currencies, including stablecoins and crypto. Interest rates differ, but the system is easy to understand. All valid rates are displayed on the homepage.

Users who want to earn as much as possible deposit stablecoins, euros, or pounds. This brings them the highest annual interest rate of 12.3% (including a 2% reward for CLT staking.) The funds from deposits are used to finance crypto loans, another major service on CoinLoan.

For investors, the most lucrative category includes:

• Euro (EUR)
• Pound Sterling (GBP)
• Tether (USDT)
• USD Coin (USDC)
• Paxos Standard (PAX)
• TrueUSD (TUSD)
• Binance USD (BUSD)
• Dai (DAI)

Cardano (ADA) stands out — it is the only asset bringing 9.2% APY. The third tier includes coins and tokens that can give up to 7.2% (for users who stake CLT):

• Bitcoin (BTC)
• Ethereum (ETH)
• Bitcoin Cash (BCH)
• Litecoin (LTC)
• Monero (XMR)
• XRP (XRP)
• Stellar Lumens (XLM)
• Chainlink (LINK)
• Wrapped BTC (WBTC)
• PAX Gold (PAXG)
• Polkadot (DOT)

Finally, one group of crypto assets offers interest of up to 3%. It includes:

• Maker (MKR)
• Uniswap (UNI)
• Axie Infinity (AXS)
• finance (YFI)
• Compound (COMP)
• Sushi (SUSHI)

Conclusion

Holders of crypto interest accounts on CoinLoan reap a significant profit by keeping their coins on the platform. It is a versatile and secure environment where you can invest flexibly. The highest interest rate is offered for fiat and stablecoins, while the rates for coins and tokens are also highly competitive. Like some of its competitors, the company encourages users to stake its native coin by offering better rates. However, few platforms provide an annual yield of over 12%, and none of them offer the same mix of benefits.

What’s more, CoinLoan does not charge users for deposits or withdrawals. The conditions are fully transparent, without any hidden fees. This CeFi environment is largely intuitive, and users can make money from their deposits as long as they want (at least one day). There is no maximum deposit limit, only the entry threshold of 100$.

The platform is officially regulated in the EU and licensed in full accordance with applicable standards. Its multi-layered security and proactive approach to updates is a major advantage. Rather than waiting for threats to disrupt its operations, the company aims to anticipate and prevent them. Overall, its interest account is one of the most attractive offers in the cryptocurrency space.

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