How to Earn Interest on Bitcoin

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When I was young I remember looking at my bank book and seeing nice interest payments for cash I had in the bank. Fast forward to today and banks are giving essentially nothing for interest -- your money just sits there collecting dust. In an ideal world you could put it into the stock market but there are always funds that you can't put at risk.

That got me thinking about new and creative ways to earn interest on USD. One idea that came to mind was converting USD to USDC (US Dollar Coin) and using a service to earn interest on it -- some even promised 8%, much more than any bank offers. That also got me to thinking about earning interest on other cryptocurrencies that I've owned for years but have no desire to sell.

I've spent the last few months using three different services for earning interest on cryptocurrencies: Nexo, BlockFi, and Celsius Network. Over that time, I've enjoyed earning thousands of dollars in interest. Let's explore the strengths of each services!


Nexo is the world's largest and most trusted lending institution in the decentralized finance space and has already processed more than $3 billion for 800,000+ clients in 200+ countries.

What I Like:

  • Daily payouts -- 6pm is my favorite time of the day!
  • Deposit, withdraw, and view holdings with the elegant mobile app or website
  • Pays interest on other large cap cryptocurrencies like Ether ($ETH) and Litecoin ($LTC)
  • Pays interest on lessor used cryptocurrencies like Stellar ($XLM), Chainlink ($LINK), and more
  • $100 million insurance on all custodial assets
  • Website and mobile app are both very easy to use

What Could Be Improved:

  • The 8% interest rate paid out for stablecoins is less than the 8.6% rate provided by BlockFi and 10.5% at Celsius Network


BlockFi is a US-based firm that provides the wealth management products crypto investors need, all powered by blockchain technology.

What I Like:

  • BlockFi's rates for Bitcoin, Litecoin, and Ethereum are excellent
  • BlockFi is based in the United States
  • Provides a website and mobile app

What Could Be Improved

  • Public-facing website looks drab to the point where I question how much I should trust the service
  • Interest is paid out at the beginning of each month, so a month goes by with no immediate gratification
  • Many popular altcoins aren't supported

Celsius Network

Celsius Network, founded by VoIP creator Alex Mashinsky, offers interest and crypto loans with zero fees; "free, free, free"!

What I Like:

  • Supports multiple altcoins like Ripple, Stellar, and Basic Attention Token
  • Mobile app is well designed and easy to use
  • Interest is paid weekly

What Could Be Improved

  • Celsius Network doesn't have an investor control panel where I can do things like deposit, withdraw, etc -- everything needs to be done via a mobile app

After a few months of using each of these services, I can honestly say that they were all easy to use and rewarding:

  • Nexo's mobile app and website are really well done, they accept the most cryptocurrencies, and their daily payouts instill confidence that I'm actually earning something.
  • BlockFi feels more mature but their website really needs work -- it made me hesitant to deposit funds.
  • Celsius accepts more cryptocurrencies than BlockFi but not being able to manage funds one a desktop computer website fills me with dread

Regardless of the service you choose, earning interest on your cryptocurrencies is an opportunity no HOLDER should ignore. If you aren't making interest on your crypto, someone else is!

Note: This blog post uses referral links -- each of them provides free bitcoin to both you and I if you join.

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  1. Zach Blank

    David, great post. Is it accurate to assume that earning interest on a stablecoin (USDC) is just as safe as depositing USD into a traditional bank account? What’s the difference? How am I able to earn 0.4% on USD and 10% on USDC with the same risk?

    What am I missing?

  2. DB

    What are the risks here? Can’t find good info anywhere. Am I sending my btc to a wallet where i don’t ha e access to private keys? How do I know I’ll get the btc back? What’s the incentive for these companies offering interest

  3. John Rose

    I grow my bitcoin investments from the 10% interests I receive from the AxisOption wallet platform where you’d earn as high as 10% interest for holding bitcoins on their wallet platform.

  4. Christopher John

    Holding bitcoins on the AxisOption Secure Wallet platform is the best. They also give interests as high as 10% to all holders.

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