Cryptocurrencies have become far more accessible in 2022. There are over 300 million crypto users now, and the number is growing day by day. As a result, a variety of apps are being introduced to make digital assets easier to use.

Many users take advantage of mobile crypto wallets to protect their funds, manage their portfolios and observe market movements. But there is so much more to what crypto apps are capable of. For example, crypto savings apps allow you to earn passive income.

With this in mind, we compared four popular crypto earning apps: YIELD App, SwissBorg, NEXO, and Celsius. Each one offers specific features that are best suited for different needs.

YIELD App

YIELD App is a digital wealth management platform where crypto investors and users can earn on their crypto. It allows users to earn up to 18 per cent Annual Percentage Yield (APY) on popular assets and stablecoins including USDT, USDC, ETH, and BTC.

The app uses its automated and proprietary portfolio allocations tools, research, and wealth management techniques to generate high returns. In a nutshell, YIELD App offers a simple gateway for BTC, ETH and stablecoin holders to earn the highest yields offered by a crypto savings app.

YIELD App can be particularly useful for those who seek simplicity and high earnings under one app. Like other apps, the auto-compounding feature helps interest earnings to stack up automatically. Crypto is volatile by nature. For those who prefer stability, the app offers one of the highest APYs for stablecoins.

Also Read: Demystifying NFTs and DeFi

SwissBorg

SwissBorg is a crypto investment platform that supports nine cryptocurrencies, each with varying yields. The platform’s Smart Yield feature balances optimal risk, return and user experience all in one place.

SwissBorg offers two types of accounts: Standard and Premium. Standard accounts can earn up to 12 per cent APY, while Premium accounts can further maximise the rate. The APYs change more frequently compared to other apps, requiring active attention to understand the most updated rates. This app caters more to advanced users who have sufficient knowledge of the inner workings of crypto.

To activate a Premium account, users must obtain 50,000 CHSB and stake for 12 months. During this period, the tokens are locked meaning that users won’t be able to withdraw or exchange them. Compared to other apps, users should take note of the relatively high requirement to unlock the APY boost, which can be beneficial depending on other specific factors.

NEXO

NEXO is a cryptocurrency interest account and lending platform. The app offers up to 17 per cent APY for a wide range of digital assets, including BTC, ETH, LTC, BCH, EOS, XLM, TRX, and XRP. A key differentiator is that the app pays out interest every day, as opposed to weekly on other apps.

Once you set up and deposit funds, the app will automatically calculate your interest earned daily and deposit it directly into your account. Then, all you have to do is sit back and relax. Similar to SwissBorg, accounts in the platform are divided by tiers. However, the level of your tier depends on the ratio of NEXO against the balance of other assets in your portfolio. Users need to make sure their current ratio qualifies for their desired earning rates.

You can also choose to receive interest in-kind or in NEXO. Earning in-kind means that you will receive the earnings in the same asset that you deposited with. Earning in NEXO means you will receive the equivalent value of your earnings in the app’s native token.

Also Read: You’re not really diversifying your investments by buying altcoins

Celsius

Celcius is a crypto wealth management app that allows users to earn interest from their digital assets. The platform supports more than 30 cryptocurrencies, including BTC, ETH, UNI, LINK, USDT, USDC and many more. Celsius offers one of the most flexible options for altcoin holders.

Rewards are calculated every Friday. On Mondays, you’ll get your interest automatically into your wallet. If you choose to get your reward in CEL (Celcius’s native token), your weekly payout can go up to 25 per cent more.

On top of the large number of assets available to deposit, the platform does not charge any withdrawal fees. This is ideal for users who frequently withdraw their assets or earnings. The app offers more options for those who hold many types of assets under their belt.

The future of passive earnings

As the digital asset space is rapidly growing, investing in cryptocurrency has never been easier. Crypto earning apps are at the forefront of revolutionising the standards of passive income. Now, even those with little technical knowledge can make passive crypto earnings a reality –-a classic example of making your money work for you.

Note: None of the contents above is financial advice

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The content was first published on The Human & Machine.

Image Credit: The Human & Machine.

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