Best Crypto Savings Accounts in South Africa

As a result of the growth of the cryptocurrency market, a variety of facilities have been established that offer similar services to those available in traditional financial markets. Crypto savings accounts are a good example of the type of facility that can provide investors with interest in their crypto holdings.

As part of this guide, we will discuss the best crypto savings accounts on the market and point out which providers offer you the best rates, as well as how to sign up for a crypto savings account in just four easy steps!

Best Crypto Savings Accounts in South Africa List 2023

We will briefly overview some of the best crypto-savings accounts available to investors today throughout this article. Then, we will examine each of these accounts individually in the following sections to make an informed decision.

  1. AQRU – The Best Crypto Savings Account in South Africa for 2023
  2. – Top-Rated Crypto Savings Account in South Africa with High-Interest Rates
  3. BlockFi – Compound interest-earning cryptocurrency savings account in South Africa with a user-friendly interface
  4. Binance – The Best Crypto Savings Account in South Africa for Secure & Flexible Savings
  5. Coinbase – Trusted Crypto Savings Account in South Africa with High-Security Level

Best Crypto Savings Accounts in South Africa Reviewed

The best way to optimize your returns if you plan to purchase cryptocurrency and store it long-term is by partnering with one of the aforementioned crypto savings account providers. Therefore, let’s take a look at each of the providers in detail so that you can better understand your options.

1. AQRU – Overall Best Crypto Savings Account in South Africa for 2023crypto savings account

The best crypto savings account this year would be to partner with AQRU if you’re looking for the best crypto savings account so far this year. AQRU is a crypto-savings platform owned by Accru Finance Ltd, a London-based financial services provider. AQRU is an investment platform launched in December 2021 that is positioned to be one of the leading players in this burgeoning market by offering high yields and a significant degree of safety.

Investors can deposit their holdings with AQRU and receive a solid return on their investments. The platform is perfect for crypto investors of all skill levels and accepts a variety of stablecoins, including USDC, USDT, DAI, and BTC, along with ETH and BTC. In addition, it should be noted that AQRU also accepts deposits in GBP and EUR. With AQRU, funds are deposited, and then the funds are lent by AQRU to institutional and retail borrowers, with these loans being 100% collateralized.

best crypto savings account

Due to the fact that cryptocurrency is still hard to obtain for certain market participants, AQRU can offer high-interest rates on their crypto savings accounts. Additionally, AQRU is one of the best crypto lending platforms, offering 12% returns on stablecoin deposits and 7% returns on BTC or ETH deposits. One of the best things about AQRU is that there are no hidden fees for the service and that withdrawals can be done at any time.

There is only one cost to be aware of when it comes to withdrawing crypto: the $20 fee in the currency. AQRU offers several payment methods for its clients, including the use of credit/debit cards, bank transfers, and cryptocurrencies. It is mandatory to note that the minimum deposit amount is only €100, making AQRU’s services accessible to beginners. AQRU offers its customers an easy way to rely on all of its services by using their handy mobile app, which includes tools for making deposits, checking account stats, and securing their accounts via two-factor authentication. In addition, AQRU is one of the best crypto lending platforms available.

Cryptoassets are highly volatile unregulated investment products.

2. – Top-Rated Crypto Savings Account in South Africa with High Rates

what is a crypto savings account

If you are in the market for a high-yield crypto savings account, we recommend that you check out With over 10 million customers worldwide is one of the top crypto exchange sites on the market. Along with a wide range of trading services, offers a user-friendly crypto savings account that generates high returns on your investment.

Known as Crypto Earn,’s savings account allows its users to earn up to 14.5% on crypto deposits and 14% on stablecoin deposits. Over 40 cryptocurrencies are supported, including BTC, ETH, and USDC. A few notable differences exist between the different aspects of a user’s crypto deposit, tailored to their individual needs. Lock-up periods can be flexible, for example, one month, three months – ensuring that crypto holdings are easy to access at any given time.

high yield crypto savings account

Users must stake a specific amount of CRO for the best savings rates –’s native token. Those who stake 40,000 CRO or more will receive the highest rates, although those who prefer lower rates can deposit their crypto without staking. In addition, a flexible lock-up period will produce the lowest returns, whereas a three-month lock-up will yield the highest.

The interest is paid on crypto deposits daily, without compounding, and is deposited into the attached crypto wallet every seven days. Users must deposit at least 0.005 BTC or 0.15 ETH to be eligible for interest – for example, 0.005 BTC or 0.15 ETH. In addition, the Crypto Earn feature is available through the app, and deposits can be made within seconds.

Cryptoassets are highly volatile unregulated investment products.

3. BlockFi – User-Friendly Crypto Savings Account in South Africa with Compound Interestbest high yield crypto savings account

If you are a rookie investor looking for crypto savings account with high-interest rates, then BlockFi may be worth considering. Currently, BlockFi is used by over 1 million users and has garnered a stellar reputation in the cryptocurrency market. With over $10 billion worth of assets under management. Through its BlockFi Interest Account, the platform offers interest rates of up to 10% APY. In the same way as other platforms, investors earn interest daily, distributed each month to them.

BlockFi’s savings accounts support more than 15 different cryptos to invest. Among these are well-supported stablecoins such as USDC and DAI and lesser supported coins such as ATOM, ADA, and AVAX. The returns on each asset will increase the longer the holdings remain in the account, as they have their rate of return. Additionally, BlockFi’s sign-up process is extremely simple, with no hidden fees or minimum balance requirements to begin saving.

high interest crypto savings account

There are several reasons to open a BlockFi savings account: interest on crypto deposits is compounded every month. Only a few accounts offer this feature, and if taken advantage of overtime, it can help grow deposits exponentially. Finally, BlockFi ensures a high degree of security for all customers by offering two-factor authentication and partnering with Gemini to store most customer assets in cold storage facilities.

Cryptoassets are highly volatile unregulated investment products.

4. Binance – Best Crypto Savings Account in South Africa for Flexible Lock-Up

crypto savings account

Indeed, Binance is widely known for cryptocurrency trading; however, the exchange has also recently expanded its service offering to include crypto savings accounts. According to a recent report, Binance is the world’s largest crypto exchange, both in daily trading volume and number of users worldwide. As part of the platform, users can generate interest through the ‘Binance Savings’ feature, available to all users.

Among the 140 coins supported by Binance’s flexible savings accounts, ten of them can be locked up for a pre-determined period to earn a higher return. In a flexible account, users can redeem their funds at any time, and interest is calculated daily and distributed directly into the user’s account. With regard to yield, Binance offers some of the highest yields for its flexible accounts, with CAKE and AXS deposits netting investors a 10% and 12% APY, respectively!

best crypto savings account

With AXS and CAKE, you’ll be able to earn an annualized interest rate of 25% by opting to lock up your crypto. Users of AXS and CAKE can earn an annualized interest rate of 25% by opting to lock up their crypto. Additionally, Binance has a section dedicated to coins with a limited supply, which is worth noting. Suppose you are interested in participating in the promotion. In that case, many cryptocurrencies can be deposited for each of the featured coins, so if you want to participate, you have to act quickly. The rates on these coins are exceptional; one of the prime examples is Everipedia deposits, which can give users a 70% return per year.

Cryptoassets are highly volatile unregulated investment products.

5. Coinbase – Respected Crypto Savings Account in South Africa with High-Security Level

what is a crypto savings account

The final account in our review of the best crypto high yield savings accounts is Coinbase. The majority of crypto traders will have heard of Coinbase because it is one of the largest exchanges in the world and is popular because of its excellent security features. Coinbase is licensed by the Financial Conduct Authority (FCA) and stores 98% of its customers’ holdings in cold storage to ensure high customer security in South Africa.

Coinbase is a platform that allows you to open a crypto savings account by downloading a free app, which is available both for Android and iOS, called the crypto wallet app. The user has the option of selecting which of the DeFi protocols they are interested in earning interest through, with options such as Compound, DyDX, or Fulcrum. In addition, investors will tailor their saving activities because each provider will have its minimum deposit amount. Coinbase’s current list of supported cryptos accepts ETH, ATOM, ALGO, DAI, USDC, and XTZ as investment returns.

high yield crypto savings account

The returns that investors can earn through Coinbase are much lower than those of other platforms, such as AQRU, which offers a 5% APR through Compound for USDC deposits. But, even though the returns are low, getting started is incredibly easy and takes only a few taps, which is ideal for investors just starting. In addition to providing crypto investors with savings, Coinbase additionally offers a range of trading and educational services, providing what is essentially an ‘all-in-one’ platform for crypto traders.

Cryptoassets are highly volatile unregulated investment products.

Best Crypto Savings Accounts in South Africa – Comparison

It is extremely important to consider which coins are supported and their returns when looking for the most suitable crypto savings account for your needs. The following table presents a clear breakdown of the two major aspects for easy reference:

Platform Coins Available for Saving Savings Rates
AQRU USDT, DAI, USDC, ETH, BTC Stablecoins: 12% per year

BTC & ETH: 7% per year 40+ (stablecoins and other cryptos) Stablecoins: Up to 15% annually

Other Cryptos: Varies; up to 14.5% annually

BlockFi 14+ (stablecoins and other cryptos) Stablecoins: Varies; up to 9.25% annually

Other Cryptos: Varies; up to 10% annually

Binance 140+ (stablecoins and other cryptos) Stablecoins: Varies; up to 9.25% annually

Other Cryptos: Varies; up to 12% APY

Coinbase ETH, ATOM, DAI, ALGO, USDC, XTZ Amount varies depending on the provider and can change frequently – currently 5% per year for USDC deposits.

What is a Crypto Savings Account?

As its name implies, a crypto savings account is a particular type of account intended to deposit crypto and generate interest on it. Investors with substantial crypto holdings are often attracted to high-yield investments because they tend to provide much better returns than traditional financial markets. The rapid expansion of the cryptocurrency market has caused more platforms to offer crypto savings accounts to investors – with the competition resulting in better terms for investors. However, one of the key differences between regular and crypto savings accounts is that you give up all control over your deposit when you use the latter. That is because the crypto that you deposit will be lent to third parties, such as other retail investors or financial institutions. In addition, because crypto deposits are deemed riskier than traditional bank accounts, interest rates tend to be much higher than the traditional banking system.

best high yield crypto savings account

In order to open a savings account, many providers will require you to ‘lock-up’ your deposit for a predefined amount of time. The result is that users cannot withdraw their holdings until the end of the period – even though this usually means that yields are higher than usual. On the other hand, a few providers offer ‘flexible’ accounts that offer lower yields and enable their customers to access their holdings at any time.

Which Platforms Have the Best Crypto Savings Interest Rates?

You will probably want to work with a platform that offers the highest interest rates if you want to make long-term investments in the best crypto savings account. However, one thing to keep in mind is that when it comes to these accounts, it is not as simple as comparing the annual percentage yields (APYs) of the various options – there are also lock-up periods to consider.

According to the paragraph above, these lock-up periods will result in the inability to access your cryptocurrency for a specific period. Still, you will earn a higher interest rate. As a result, platforms that offer lock-up opportunities tend to provide higher APYs than those that do not. Binance is a good example of this, which currently offers an astounding 70% APY on Everipedia deposits deposited for 15 days.

Some platforms offer great rates without locking you into a term. As our recommendation for the best crypto savings account, AQRU offers interest rates of 12% per year on deposits of stablecoins – with complete flexibility to access your holdings at any time. In addition, users can also deposit ETH or BTC with no lock-up period and earn 7% interest on their deposits.

high interest crypto savings account

Cryptoassets are highly volatile unregulated investment products.

As a final note, specific platforms may require staking to achieve higher rewards. For example, is one of the best crypto staking platforms, as traders have access to it. In addition, a new feature on allows users to earn higher interest rates by depositing more CRO – which is’s native cryptocurrency.

Following is a quick breakdown of the impact of the staking process on the returns on a DAI deposit with requiring a three-month lock-up period:

  •  Fewer than 400 CRO staked = 10% p.a.
  • 4000 CRO staked = 12% p.a.
  • 40,000 CRO staked = 14% p.a.

What Cryptocurrencies Can You Earn Interest On?

Several of the most popular cryptocurrencies in South Africa can be deposited into crypto savings accounts to earn interest. There are two categories of cryptocurrencies – stablecoins and non-stablecoins – which tend to be divided into. Let’s examine each of these categories individually:


Defining stablecoins as cryptocurrencies pegged to the value of an underlying asset to limit price fluctuations, the Financial Times has explained. With over 79 billion dollars in market cap, USDT is the world’s largest stablecoin and the world’s largest stablecoin. However, other notable stablecoins like USDC, USDT, and DAI. Because of their volatility-beating features, stablecoins are in high demand from a large number of parties – meaning that stablecoin deposits tend to have the highest rates of interest compared to crypto savings accounts.

crypto savings account


As the name implies, non-stablecoins refer to any form of crypto, not a stablecoin. This section will find various popular cryptos, including Bitcoin, Ethereum, and other altcoins. The demand for certain coins is high since the crypto supply cannot be artificially increased easily like a central bank can do when they print money. As a result, crypto savings accounts provide a means for specific parties to obtain these coins while at the same time compensating depositors for their risk by offering a favorable rate of return on the account.

How to Setup a Crypto Savings Account in South Africa

As a result of the popularity of crypto savings accounts over the past year, the sign-up process has become significantly simplified. Therefore, a deposit and earning interest can usually be made within minutes and completed online.

To help you through the process, we have provided the following steps, which will demonstrate how to set up a crypto savings account with the recommended provider, AQRU, at your convenience from the comfort of your own home!

Step 1: Open an Account

Go to the AQRU website and click the ‘Register Now’ button. Please provide a valid email address, create a password for your account, and choose the FIAT currency you would like to operate in.

For full access to your account, you must verify your identity. To verify your identity, click on the ‘Verify your Identity’ banner on the homepage and provide AQRU with the information needed to verify your identity. Then you will be asked to take a picture of your photo ID (passport) as well as a proof of address (utility bill). You will also be asked to take a selfie at the end of the process to ensure authentic documents.

best crypto savings account

Cryptoassets are highly volatile unregulated investment products.

Step 2: Deposit Funds

Next, you need to download the AQRU app and log in using the credentials you created earlier. Then, click on the “Deposit” button on your account dashboard and either opt for a bank transfer, a card deposit, or a crypto deposit:

  • Bank transfers – Free, although funds can take up to 48 hours to reach you.
  • Card deposit – You can buy cryptocurrency through MoonPay, but third parties charge a fee.
  • Crypto deposit – Free, and AQRU will provide you with a wallet address to which you can transfer your crypto holdings.

Step 3: Begin Earning Interest

Click the ‘Buy’ button on your account and choose from stablecoin, Bitcoin, or Ether – depending on which crypto you plan to deposit. Before confirming the investment, you will decide how much you would like to invest in the savings account. When your deposit is confirmed, you will start earning interest on it, which is compounded daily and can be withdrawn at any time.

what is a crypto savings account

Are Crypto Savings Accounts Safe?

In closing our discussion on the best crypto savings accounts, it is imperative that we talk briefly about the safety of these accounts. There is a sense of natural apprehension when operating within the crypto market since it is still relatively young compared to more ‘traditional’ markets.

Taking this into account, listed below are two of the most important things you should be aware of when it comes to the security of crypto savings accounts:

No Deposit Insurance

One of the most significant differences between regular and crypto savings accounts is that the latter does not offer deposit insurance. Clients can receive up to $85,000 in protection for deposits held at based banks, according to However, there is no such protection; therefore, they are considered riskier and offer higher yields to compensate for this.

Potential for Deposit Value to Decline

Another factor to be considered is the value of your deposit – particularly if you have a savings account that requires a lock-up period. Participants in the crypto market are well aware that the market can be volatile, with significant price declines not unusual. In other words, if your crypto holdings are in an extended lock-up period and the market begins to turn bearish, the value of your holdings can diminish rapidly – and this can put your deposit at risk as well.


In conclusion, this guide has gone over the best crypto savings accounts in detail, exploring which providers offer the best rates and providing guidance on how to get set up with an account immediately. Because the crypto market is showing no signs of abating, opening a crypto savings account offers a streamlined way of generating strong returns on your holdings.

You may want to consider partnering with AQRU if you would like to open a crypto savings account as soon as possible. With AQRU, you can choose from several stablecoins and get 12% yields per year with no hidden fees. In addition to those benefits, users can even earn 7% interest per year on BTC and ETH deposits, all through AQRU’s handy mobile app!

AQRU – Best Crypto Savings Accounts Platform in South Africa

what is a crypto savings account

Cryptoassets are highly volatile unregulated investment products.


How do crypto savings accounts work?

How much of my savings should I put into crypto?

Are crypto savings accounts safe to use?

Is it possible to lose money in a crypto savings account?

Should I keep my savings in crypto?

Jhonattan Jimenez

Jhonattan Jimenez

Jhonattan has been writing crypto and stock trading articles on Trading Platforms for 2 years. Before starting his career as a freelance writer, Jhonattan studied at the Universidad La Gran Columbia from which he graduated in 2019. Jhonattan describes himself as a crypto enthusiast and regularly writes price prediction articles for new projects. During his time as a writer, Jhonattan has gained great knowledge about the crypto space and has mastered technical analysis skills that he uses when writing token price predictions. As well as writing for Trading Platforms, Jhonattan has written for and