I think I found a "savings" account that uses crypto. Blockfi.
I was trying to find something to not replace my savings account but to boost it. Currently I use 2 different banks for savings. Bank 1 is my main bank that everything goes in and out of, has many brick and motor branches, and ATMs. It also offers a measly 0.02% APY for a savings account, which is why I don't keep a lot in there. Bank #2 is my main savings, for now. ATMs are harder to find and it boast a "high yield" saving account of 0.50% APY. I want better.
I wanted something that had a stable value, allowed easy bank transfers that were fairly quick, and a solid interest rate. The stable value criteria eliminated investing in coins on an exchange and traditional staking. I would need stable coins like USDC, USDT, or GUSD. Most sites allow easy bank transfers in and out (although I had issues with Coinbase pro).
I had 3 main contenders, but first a quick note on Coinbase. They do offer 0.15% APY on USDC and there app is pretty user friendly. However, I'm greedy and want more than that. Now back to the 3 contenders. Blockfi, Nexo, and Hodlnaut.
3rd place - Nexo
Nexo offers up 12% interest on their accounts with the catch that to get that 12% you need to be Platinum Loyalty member and receive your payout in Nexo tokens. Nexo token is the sites native currency and is not a stablecoin. I am hesitant already. Also the Loyalty ranks makes it seem a bit like a gimmick. That being said, if I were to put money into an account with them and not buy into the Nexo tokens, I could get 8% interest. Not too bad. But because of the loyalty program and needing to by their token, that is not a stable coin, for maximum return, I'm out.
You can read more about Nexo and their rewards system here: https://nexo.io/token
2nd Place - Hodlnaut
Despite the meme name, it seems to be a solid platform. I might come back to it. They offer 10.5% APY on USDC and USDT. No fees for deposit and weekly interest payouts. They even offer insurance you can buy incase the site gets hacked and you lose 10% or more of your investment. The FAQ section on their site also seems transparent. The one downside is no mobile app and, oh yeah, an 18 USDC/USDT fee for every withdrawal. So close and yet so far.
Hodlnaut does offer interest in other coins as well if you are interested in that: https://www.hodlnaut.com/
Winner - Blockfi
Blockfi offers a wide assortment of crypto to earn interest on, more than the other websites. They have an app on Android and iOS, and the Android app is easy to use (Android user). Interest rates are not as high as the other sites, up to 9.3% APY for USDT, but also does not need a minimum balance for the stable coins. A big plus is 1 free withdrawal transaction every month and even after that the fee 10USDC, that's lower than Hodlnaut's fee. I was also able to stumble upon Blockfi's help page for tax time, cause the US Government always needs its cut. Blockfi seems to check all the boxes for me and I already got my account set up.
Go here to if you want to learn more: https://blockfi.com/
Again, I am not an advisor. I am a random guy on the internet. Also I will never put a personal referral link in these post. No special reason, I just don't like that idea.