Skip to content
Subscriber Only

You Can Earn 6% Interest on Bitcoin. Is It Worth the Risk?

Crypto savings accounts that pay yield to borrow your tokens may sound tempting, but there are no guarantees.

relates to You Can Earn 6% Interest on Bitcoin. Is It Worth the Risk?
Illustration: Klaus Kremmerz for Bloomberg Businessweek
Updated on
From

It’s not just the outlandish returns that some Bitcoiners are bragging about these days. There’s also the yield.

At a time when interest rates on conventional bank deposits are pinned to the floor—often below 0.5%— financial technology companies are offering to pay owners of Bitcoin and other cryptocurrencies annual percentage yields of 2% to 6% and sometimes more. You can deposit your coins with a few taps on one of their smartphone apps.