Bitcoin Forum

Is there any upcoming project that would act like a bitcoin savings account?

You mean a way to get interest on your Bitcoin?

I don't recall any in particular but you can lend Bitcoin trough some exchanges like polo and get interest back although I would advise against.
Also, with RSK coming close to integrate smart contract in the Bitcoin block chain we might see a more secure system of lending and interest.

There are a few sites, essentially bitcoin service sites that are acting as online wallets that are paying interest on holdings.

The one i've been involved with a long time is called freebitco.in. It's a faucet and "dice" gambling site that has also started paying 4% interest on balances held.

They're paying this interest daily, that's 4% per year.

As far as savings go, are you looking for safety/security or some other characteristic of a savings account?

Uhh...wasn't that ponzi scheme run by Trendon Shavers some sort of high interest btc bank?  Look how that turned out.   Bitcoin savings & trust or some such.  Not that they all have to turn out that way, but until I see a legitimate bank offering the service I'm not trusting anyone with my bitcoin.  And not even if real banks get involved.

Are you looking for projects that will offer interest for you bitcoins saved in their specificwallet? i think there will no that kind of project,its impossible for them to earn interest for your bitcoins with them using it.I have heard freebitco.in offers interest must give it a shot if you like that

Yes, there is this feature on FreeBitco.in. The site is working since 2013, very good site (faucet, Dice game, rewards and now investment).

They pay 0.01% interest daily, 4.08% annualy interest. Balances over 30.000 satoshis are credited every day in random hours.

Since currently there exists no any type of such official wallets where you can put your money and with that you can make interest . But I think if you will out your Bitcoin in the wallet then increase in the price are more than the internet that what you will get with the first money in the bank accounts .
But still I have a option for you to make money with the Investment any make earnings .
I am saying it investment but in reality this is not a investment and risk free also .
Go at the yobit.net and create a account ( skip this if you already have one ) now deposit the Bitcoin at yobit wallet and then go in the inveatbox section , there you will found at the top 0.2% per day minimum invest of 0.01btc , now you should made investment of that amount of the Bitcoin that you have in the Tobit account .
I am doing the same thing from long ago ( from month )and making much money with 1 btc .

Are you looking for a lucrative project? I think you are looking for something that is not good for bitcoin, the path you are aiming for is HYIP, where everyone gives away their money in the hope of getting a profit, but vice versa, they are scam. Instead of looking for it, you should use your money to invest, the investment will be profitable for you.

yes

It's called dollar devaluation.
Just HODL your Bitcoin like they aren't making any more. 

If you want to invest your bitcoins, don't. There are simply so many scams out there, the legit sites like Genesis Mining don't make you any sort of profit at all because they need to make profit, and they do so via charging fees. For them to make profit in a bitcoin environment where the difficulty is so high they must be able to charge you a lot of fees, and terminate your contract when your earnings cannot sustain the fees they charge.

P2P lending is bad, Bitlendingclub and a few others basically went under a few months ago. These accounts actually can get bought by people, meaning that for the risk you're taking on, the returns are miniscule.

Poloniex lending used to be good, but now the company is having liquidity issues. Magnr offers interest, but it's negligible. Your year's worth interest is going to be eaten up by miner fees.

The main reason of holding bitcoin is to have control over your own wealth anyways. Bitcoin is disinflationary, meaning that in the long term you are guaranteed to make a profit. Why would you have BTC, and still have to trust someone with it?

I don't then we have such thing that is quite trustworthy as of now.

But guess what? You could still possibly earn by just holding bitcoin or other crypto alone. It's likely that the price will increase longterm, so there's that. Anyway, if you're new to the crypto world and you come across investment/cloud mining sites, I suggest that you ignore them.

What is your point you spammer? use your money to invest, investment would be profitable for you? which and where? just tell me should he stop

Looking for it or keeps looking to find a good investment? fucked up spammer.


Isn't %4.08 annually very much stupid and low? fuck mate if I were to give my money to a bank locally I'd received %18 annually, this is just lame.

There is no guarantee whatsoever to secure our coins correct?

I actually saw a project on Github that seemed to do something very similar to do this (basically a smart investor for Bitcoin)! I will link it as soon as I can find it...

You can save your bitcoin to your btc wallet. Just don't withdraw it and I think its just fine. You can save bitcoin while you are also earning.

save it for long term and check after 5-10 years again
you will suprised and ready to harvest the profit ;D

???

They have scaling issues. They grow too fast and therefor are handling problems/tickets very slow, unfortunately these include some withdrawal issues. But in general it works fine, and liquidity issues I haven't heard of. What is your source?

That's not going to happen, I am afraid. Bitcoin is a currency, which is protected from inflation (due to the principle of controlled supply). We get interest on the other currencies, because they are not protected against inflation and their purchasing power goes down with time. But the purchasing power of Bitcoin is constant. So I don't think that anyone will offer interest for Bitcoin deposits.

There are already a couple of websites that you can use to earn daily interest on your bitcoin savings, Bsave and Magnr. Bsave has tie up with Coinbase so the daily interest is automatically credited to the users Coinbase wallet. But the problem is these sites does not offer more than 3% APR, 0.0082% daily interest.

Another option would be investing in P2P lending platforms, right now Bitbond is the best, better than BTCJam, the quality of loans is good so if you invest in right loans you can get up to 25% in interest p.a.

Just keep on saving your bitcoin in your wallet and then you could make enough profits every time that bitcoin price would PUMP, and not just profits, but bigger profits more than you could ever imagine. Investing your money into bitcoin if you don't know how to earn bitcoin is a great idea too, because they have the same benefits on you.

i think there's no such thing but maybe there are going to have some in the near future because bitcoin demand is getting higher and higher everyday and the population of the bitcoin user is increasing too the only thing that we can do now is to keep on earning and saving are bitcoin in our web wallets in that way we could have points savings because of the profits that theyre going to make if we are going to hold it and wait for the right time.

But the sad truth is we cannot trust easily on who will be the maker of bitcoin savings institution since there's so many scam and might we will gonna fall for that thing aswell a I think im already settled with my wallet since it can make me feel at ease upon using instantly and if people would choose to store their coins I think the best thing they can do is to buy their very own hardware wallet so that they can handle the funds for theirselves.

I don't think there is but there is yet a way you can earn interest, however I would like to clarify that I have not used it, nor do I know anyone who has, but the site is trusted so I am suggesting. The site is called freebitco.in, you need to register there and deposit your Bitcoins there, and they pay a interest to you. You will find all the details on the site, however don't go for the bonus, or lottery tickets. Just use it as a wallet and get interest 4.08% yearly interest.

Of course banks in third countries to pay such high interest rates, but you forget about inflation. All your interest is eaten up by inflation. Bitcoin shows continued deflation and it attracts people. For the year deflation of bitcoin can be 100% or more, and of 4.08% is just a nice bonus. But to entrust their deposits to sites is even more risky than to trust the banks.

That's the only best and safest way to make more out of your bitcoins. The sites paying you interest on your bitcoins even if they are not scam and trusted ones pay you such a small amount of interest that it wouldn't earn you much and you will keep your money blocked unnecessarily. So just keep them with you in your bitcoin wallet or if you're good at trading you can invest some amount of your bitcoin in trading too and make good money.

The interest on exchanges can be quite good.

For example: on Poloniex you can lend your bitcoins to the margin traders (they need enough altcoins for colleteral; in case of high losses Poloniex does a forced liquidation, so the risks for lenders are quite acceptable, in my opinion).

The rates are even more volatile as bitcoin price, at this time around 0.1% per day (!). Yes, that's 36.5% per year. And the average rate in the last months was above 0.15% per day.

Recently saw an advertisement in which a bank is operating same as our regular banking but the money used is bitcoin. They've been providing saving account and interest for what we've placed into the account. In reality I don't think this is necessary, because we already have our own wallet and importantly these banks after being successful will start imposing unwanted charges. So what they pay as interest will be taken  back.

that can't help having  more Bitcoin but just more value out of coin you are holding which is not what the thread starter is asking

from my understanding the OP want to earn interest on his savings

unfortunately besides lending money there is nothing you can do to earn passive interests  on your Bitcoin

unless you check some good  pos coin with high return per year like 100%

Except feebitco.in I don't know any other  place where you can get interest just from keeping money on that place, and to be honest how much trust we can have in any service that offer's something like this?
Its better to buy a trading bit if you have enough money and just let it work and you will have profit every week, month, depends what is your goal, in any case trading bot or maybe even investing in casino bankroll sounds good, that is much safer in my opinion then giving bitcoins to someone in keeping.

No, I think there are not any sites that save bitcoin for you, they are not reputable, you can easily be scam. They are collectively referred to as HYIP. Here, people send their money to a secret person and expect great profits every day, however, most such sites last only a few days, then they deceive everyone. However, with huge profits, many continue to pursue it and become poor.

You are not quite correct

Exchanges that offer margin trading allow users to borrow and, consequently, lend out bitcoins (as well as other coins and fiat). This is safe as long as the exchange itself doesn't scam or get hacked terribly. I don't know about Bitcoin interests specifically, but on fiat deposits you can accrue pretty decent interest (a lot higher than in banks). Aside from that, I can't possibly say that Bitcoin itself is protected from inflation in any degree. Its price has been rising for the last two years but it is nowhere near guaranteed and thus cannot be considered as protection. It could just as easily start falling tomorrow

Isn't saving the bitcoins in the wallet make it seems like a saving account, it sure does for me because i have interests that no banks will ever give me even if it was investment.

That is just a shitpost mate, enough already who the hell wants to hold Bitcoins idling in wallets and rot? people need something safe, secured

And with a worthy interest rate, IMO Bitcoin should give this to us as well now that it has delivered us from banking regimes. I take it if you invest

In yoshit you could get %6 monthly and %72 annually, why the fuck would I waste my time and invest in freebitco.in while I can get a lot more

Else where? though if they are really paying 0.2 interest daily on BTC deposits.

Are you interested in a savings account because you want a purely riskless way of earning more BTC, or would you be open to a relatively low (but not zero) lending agreement with potentially higher interest?

I ask since I'm a developer working in the space from a finance background, and have been evaluating some projects in the latter (lending) space.

Putting your money in a saving account should inherently be more of the latter but, at least in the US, the FDIC will back you up with the full faith of the US gov't to the tune of $250k USD, making it the former.  Not sure how the equivalent in BTC would look like (nor would we want one, possibly?).

Step 1.  Join this lovely currency to save yourself from banks.

Step 2.  Create a bank.

Yeah, really sounds like a great idea doesn't it?

You could just make a paperwallet and store some bitcoin on there on a monthly basis. You won't get interest on your bitcoin but the price will most likely keep going up if you hold onto them. I think right now that would be your best option. Same goes for a hardwallet ofcourse.

I don't think there is anything such as a bitcoin savings account. What you are asking is for a bitcoin bank which does not exist as of now. And it doesn't make much of a sense to have a bitcoin bank as that would lead to centralization and  bitcoin aims to decentralize money.

Taking abut banks, there is a project known as Polybius which aims to be a crypto funded bank. The ICO is still going on. And is about to hit their target. Check  ico.polybius.io

There is already a project for that if you are comfortable to the interest they are paying and that is freebitco.in. Its a site that have been on the space for quite an amount of time through their faucet platform and other ways such as gambling and lottery platforms. So, you are good to trust them with your money and get your interest even though might be small.

18% annually at banks you will earn interest in fiat, not BTC, what means your money is losing price within time, exactly the oppost by starting a BTC investment. For who just keep their money on the wallet, 4.08% annually is better than nothing...

The only guarantee is the reputation of the site and its owners, like any other online decentralized investment.

What happens when freebitco.in gets hacked and all the bitcoin is stolen?


This is rubbish. Interest exists because people need capital to start enterprises, so they borrow money, and have to pay back interest on it, a portion of which goes to the lender (you). So it does make sense, even in a decentralized currency.



18% in your currency is not going to amount to much because of inflation. Return on a currency = interest PLUS inflation.

Well, if you wanted a savings account I know there is some stuff like this when it comes to the Chinese wallets. Though I wouldn't think this would be safe, nor one of the best options with the current insane amount of volatility with Bitcoin so I'd avoid this entire thing all together. If you want something that's going to act like a savings account (NO INTEREST THOUGH) you should be using the BTC-VAULT from Coinbase, which is going to force you into leaving the Bitcoin there for a set amount of time with the only recourse being you AND ANOTHER DESIGNATED EMAIL approving the transaction.

So, BTC-VAULT from coinbase is really going to be it.

fwiw .... coinbase also had FDIC insurance on the fiat wallets. 

It bloody well doesn't.  These would require trusting someone else with your coins/private keys.  Bitcoin brings sovereignty because you have full control over your funds, something which digital fiat money (in a bank) can't give you.  You are supposed to own Bitcoin in the same way that you own cash - personally, with no third party trust.

A Bitcoin saving account will need to give you a percentage yearly but from where this extra money will come from? From others people who deposited later like you. Unless the company is generating revenues but in this case better for the company to keep the profits instead share it so they won't need people depositing bitcoin in a saving account.

Is this the actual thing Bitcoin Savings account? Is it more dangerous to have your wallet and there to store your Bitcoin the best time and prices. Maybe I'm in something wrong and do not understand.

I'm curious if there are folks who are considering that seriously?

No third party can provide you with a better security and safety for your coins than a good old paper wallet. While your funds at Coinbase may be vaulted, encrypted and insured at that (and whatnot), you are still taking what is called a third party risk (whether you like it not). If the US government chooses so, all your coins will be confiscated under some pretext (or even without any pretext at all) in a matter of minutes. If you don't care about interest, you should keep your coins in your wallet in your pocket, figuratively speaking

You had to bring up a scam ICO into this? do you really think if these kinds of ICOs were legitimate and profitable all of the smart and rich

Investors would've let you and I to even see a single coin? even with exchanges such as Liqui and Yobit paying a high interest rate they could

Close the investment at any time claiming that there is no more new investors so we're sorry to inform you that you are officially fucked, Russian

Kind  ;).
Did you even read at least 3 first posts here mate or just had to repeat like the parrot that you are? freebitcoin, I wonder how would they earn

From bets if it's really a provably fair? I guessed it myself, the house edge is very high.

I think there will be few sites to save bitcoinss. But many of them is not true and they will only scam you. If you really want to save it , invest it in trading site buy some coins and make it until it has profit or save it and hold it in your online wallet that will be good . In that case you will be able to monitor it.

To me, you don't need any saving account because a saving account has nothing to do with you. You can easily create a secure paper wallet and start to save your bitcoin from today.

I am pretty sure that Yobit.net offers this feature. Once you deposit you should attain interest for 0.2% for a minimum investment of 0.01BTC.

Another site that offers interest is safedice.com. You can invest part of your Bitcoin balance to the site bankroll for other players to bet against. Your profit will be calculated according to your stake in the bankroll. While in the long-term, you should make a sustainable profit from the house edge, it is possible for you to also lose in the short term because of the variance.

A big no and if there are any i think all of them willbe just another scam. Interest on bitcoin savings is not possible because there is no way for those services to earn from bitcoin deposits like bank earn from loans. There are few p2p lending platform that claims to give you interest but dont trust them.

Even if that bitcoin savings account exist, I will not go with it. Like I'll never entrust my bitcoin to that. Whoever knows what will possibly happen.
I'll just trade my btc, and that's a good shot.

I have bitcoin savings account, using my bitcoin wallet I save it all my income. Also I make another wallet and I connect it to my savings account to easily withdraw my bitcoin into cash if needed.

much improved user bitcoin but value priced up and down but does not affect me to the store and have a savings for the future of my future because it has an advantage that could last longer and the exact time when the price value of bitcoin higher than now

Bitcoin is incredibly unstable. Unless you plan to spend it immediately after buying it, don't put any money into Bitcoin that you can't afford to lose. If you're planning to put away £100 per week, maybe put £90 into savings and £10 into Bitcoin, or better yet, maybe split the £10 between Bitcoin and Ethereum or something. "Don't put all your eggs in one basket" as it were.

I think there aren't any upcoming project that would act like a bitcoin savings account giving interest because you can only store bitcoin on a secure wallet but it does not give interest There are some online wallets who offers that feature but it ain't trusted so I don't recommend it. There are other features that offers you interest for storing your bitcoin on their website specially gambling sites like crypto-games.net but I also dont recommend it. If you want OP test it because their investment feature offers interest.

I didnt heard some platform that has a bitcoin savings account. You are right, I also save my bitcoin into an online wallet were I can save it serves as savings account. Hold and rise to grow the bitcoin price as I beleive it will rise the price and I will earn profit.

Just hold bitcoins on safe wallets online wallet or offline wallet, if want makes bitcoins from bitcoins
just trade on altcoins use long term strategy investing,
that is best way to get bitcoins right now than save bitcoins on cloud mining service
it will be difficult to get return of Investment.

well actually bitcoin is a savings account you can do it by just creating an address and send your bitcoin to that address and that's it you have a savings account just save your private key or else your bitcoin will be lost forever and i don't think bitcoin saving is going work despite that you can save your own bitcoin without the urge of spending it.

For me my bitcoin online wallet serve me as bitcoin savings bank already because I just hold my bitcoin on those wallet and I gain increase everytime bitcoin market value will rise.

Yeah maybe it is possible to happen, but of course don't over expect, and I think by checking the value of a bitcoin regularly will also help you to know if you are already earning from your bitcoin wallet or not.  ;D

Is it really exist..??
But I didn't hear anything about Bitcoin saving account, I think Bitcoin itself is a saving account. If someone wants to save Bitcoin for a long time so that bitcoin will bring out a handsome amount of profit after that period. So Bitcoin can be a saving account.

I don't think there will be bitcoin savings account because we don't really need that kind of project because bitcoin wallets like hardware wallet is enough for a user to store or save our bitcoins for long term and there is nothing new in savings account because it is already implemented in bitcoin wallets out there and if you are really wanting that then think twice because it is like having a centralized bank.

the best way to get interest on your bitcoins
would be investing them into one of the reputable bitcoin dice or casino sites
make sure they have a plan how to deal with the upcoming forks,like,for example this one here:
https://blog.bitvest.io/post/the-forkening
you will have additional income,just like if you had put bitcoins into a "bank"
mind you,the numerous "banks" and ponzi schemes or HYIPs are NOT the way to invest your coins

freebitcoin offers a relatively safe savings account,but the interest on your coins would be much less than if you
invested it into one of the casino bankrolls

bank pays us interest because they use our money, i guess  thats the basic idea.

so if you want to get interest on btc kept at bank, they should be able to use it. i guess, thats not bad idea. a company or entity investing bitcoins in other projects which gives more bitcoins in return. is nt it the same logic as banks ?

there are none btc banks at the moments.,

Is it not a ponzi? Because it is a bit suspicious if so in my part. Anyway I will not take the risk on that. But you mean when you save money you gonna gain the interest? In my part I do not need saving account for bitcoin like interest for my savings because bitcoin itself grew fast, and it is faster than the interest that the saving site can give.  Anyway you have to be very careful if there is so.

You mean bitcoin bank? I cant see anything about it since you are pertaining on bitcoin savings. Why would seek for bank service since we can able to keep our coins in our own wallet which can give us interest without doing nothing depending on the price movement of bitcoin we can keep and control our funds I would like that way rather than putting on some banks or services which do offer this one.

There are multiple "sites" offering stable interest but nothing reliable and trustworthy as of now, This is one of the most wanted projects IMO but is very difficult to operate, since this project or "bank" would need to find ways to generate stable interest through lending bitcoins, a very difficult feat as of now.

I hope so there will be a bitcoin savings account.So that its like a bank that you can withdraw anytime youre in need.But I think bitcoin is much easier to process than in the bank.And bitcoin savings is good to those bitcoin savers.Maybe in the coming future they will approve this for the lauching of bitcoin into the world.

I think he is looking for a bank using his bitcoin as a means of money just like how fiat is.
Why not think of bitcoin like a commodity then maybe that will change your perspective to what bitcoin really is.
I dont think there would be one company that would make a savings account. This are already done by the wallet websites.

This is possible we don't need physical banks in all over the world just in one country this Bitcoin bank register and start their activity. And they can launch their bank app in all over the world. It could be possible, but they should provide customer support all over the world then only it is possible, or else people will not use this service.

You see anything like that its most probably just another Ponzi and a scam ultimately. I think holding BTC itself is like a saving bank, obviously, the BTC doesn't increase but their value surely does increase and well that's good enough for me.

Any website that says they are going to increase your bitcoin are just scam sites. Come on, it's 2017. It's only common sense that the people on the Internet that are welcoming investors are all scammers. Bitcoin savings account in a sense where you put your money, you time deposit it, then you get your profit (like in the banks) is obviously a scam. It would be a lot better to just put your bitcoin in an offline wallet and then that's it. That's your savings account. The quantity of the bitcoins might not increase but at least the price of bitcoin might increase in the future.

why you need intereat in bitcoin, bitcoin it self can make a profit if you just keep it for long term

even in my country still there is no such trend you, not such a single bank is still accepting bitcoin. may be in future it will become possible but currently it is not possible any  where.

Greed.... Certain people don't see holding Bitcoin as something profitable (some even refer to it as being boring, and a waste of time) as it doesn't gain them anything in the way that their coin quantity increases. People here are looking for ways to earn Bitcoin, but then preferably with the least possible effort -- that's why people like to lend out their coins (because that's what it basically is) in return for a tiny reward. It's a passive form of income.

there are some bitcoin lending sites where you can lend your money and get some interest on that money for a specific time. well I tryed them out and found that some times the repayer can scam your money so I have come up with the new money investment system in yobit exchange. basically they let you invest your money like banks and they will use that money and make profit. after that they will pay you some interest for your money. and its better interest RTS than banks at least.

I don't find them trustful to store my valuable bitcoins. Why don't we use private wallets for saving purposes? Way better.

 Actually I am about confused about your 2nd step and 3rd step. It seems very funny that you are saying that create a bank and yeah sounds like a great idea. After joining this currency don't required any bank. Bitcoin is everything for you. You investment is getting double and also it is better than bank.
If you are talking about its wallets that they are like own banks then yes that is right with bitcoin wallets we are our own banks.

You will earn from lending + increase in bitcoin price.  There are reputable investing sites,just check their statements for "clear big photo" .

What do you mean bitcoin savings account? is it like a bank that giving any interest of the money you lend it to them.
For me it is good to do bitcoin savings through putting it in the bitcoin wallet address. Like Electrum, bitcoin core, multihd, and etc.

Ofcourse yes , in the incoming future I am100% sure that any new service will enter and give interest like the Saving bank account . And also I think it was already exists such type of service but that site ran away by scam , so here this small risky to put our money like the bank money , because we have always risk with our money .
But currently In my opinion the site which is paying interest daily for the Bitcoin invest is the yobit.net .
Just create your account in yobit and then go in the investment section , you will surely found that the better ways of investment , there you can invest any type of the coin ( that is listed in the below of the investment box ) .
and can make a big amount of profit daily .
With the Bitcoin investment you can make 0.2% daily .
since yobit is a bank so it is much safe to out your money like in the bank .
(but still you should use your mind to use your money to use at perfect ways , the perfect way was looking for me I told about that to you already ) .

Yup exactly no one bank will give you more like investment in bitcoin, or holding bitcoin in a wallet which can increase you money, why because bitcoin is giving us opportunities which is much more better than government created jobs for people and for people's futures. So i'm agree with you totally because the price of btc is increasing..

No need to expect the bank to come. Because you do not have to expect interest saving when the bank is present. You can keep your bitcoin in your wallet and then you can also make a profit from price changes. Because it is certain that bitcoin prices will surely rise. You just need to save and wait

If you are interested in deposits in bitcoins, then these offers a lot, but I don't trust them. I know only one site which offers a 4.08% a year is Freebitcoin. The site exists for a long time and the percentage is adequate, but I still don't trust anyone. You that not just growth rates. Greed could destroy you.

True, I think do not trust too much to a site or someone. Let alone in online where all things can happen online including fraud. Better keep it in your own wallet than on a third party. Although third parties provide great benefits. But I prefer security

If yobit could guarantee the payment every day for at least 365 days straight that would be 72% annual interest which is way more than any banks offering right now, at least in my country most interest rates are around 23% max but they are banks, yet what other exchanges or cloud mining services which they own their own mining pools as well are offering is a very good deal IMO.

YoBit is a very bad place for investors within that area since their support is really lacking compared to most Bitcoin exchanges (Poloniex, Bittrex, etc). If something were to happen then all that Bitcoin invested would get lost within that website and YoBit is known to have downtimes here and there.

If you mean a way to obtain interest in your capital, then one of the few resources that I know are casino bankrolls, that let you have a portion of the earnings by allowing them to control your funds, personally I think the best thing to do is to keep your coins under your control, there is no point risking your coins to get stolen just to get a small percentage every month.

i think its better for us to saving our bitcoin in our wallet like using electrum, mycelium, jaxx and else because we can manage our bitcoin and we can spend what we want without any third service know. i think its safe to while if we saving into a website, the possibility to get scam is big although with independent wallet is have the same possibility too.

I deposit to poloniex then lend my bitcoins using their virtually risk free lending portal, I get good interest on all my bitcoin savings there.

Yeah I also don't know about bitcoin savings account, only "bitcoin wallet" I know that is existed. By having a "bitcoin wallet" we can save already our bitcoin to our wallet and let them stay there for a years and I think it will increases.

I don't know if this is useful to have a bitcoin savings account because we already have bitcoin wallet that we can store our bitcoins for long term holdings and just do nothing with it except just wait for the possible rise on the price of bitcoin. We don't really need bitcoin savings account because it is like we are risking our bitcoin to someone which is a bad idea for a bitcoin user like me.

Bitcoin is a new form of community savings that is applied with a system that is not troublesome. In addition to saving bitcoin, all the usual financial intermediaries in the bank can be eliminated. Holders also do not have to pay for service and registration fees. There are already more bitcoin savings accounts. Bitcoin is safe and can have profits in storing it. Just choose the best one, i recommend select the one who trusts the security of the service, combine simplicity with security, can trader comfortably, and the course can benefit from the savings, wouldn't have a loss in it, and have a proof satisfy for savers.

The only way you'd be able to earn some interest in a savings-styled account is by depositing your bitcoins with a centralised service that you'll have to trust to keep your deposit safe. As you can certainly see from the posts here, there are several that even I would rate as medium risk (as opposed to high and extremely high) simply due to their longevity and reputation. These range from exchangers like Poloniex and Yobit, to gambling sites like freebitco.in and bitkong. But at the annual rates of the latter (gambling), you're actually better off changing to fiat and depositing in a centralised bank which at least partially insures your deposit. Just hold and earn. Safest method.

If you think that finding a place to invest is a difficult thing you can simply use trading as an income option. Do not be too pushy to invest if you do not find a safe place to invest. Because if you insist it might be risky

There are many things if you have a knowledge about bitcoin. that what is bitcoin and where is there saving clients in internet. It is basically saves online. Online mean internet. There is wallet where people saves there bitcoins for future. So i hope you get it and understand about this what i'm trying to say. Try to visit this website "www.coinbase.com"

Saving in the wallet will not grow your bitcoin, whereas when the bank is present it will probably grow your bitcoin. Because they provide interest facilities for customers? Investing bitcoin would be more risky than storing bitcoin in a bank? But for now store bitcoin in the bank not yet present

There is no way in which Yobit can guarantee this

Or any other cryptocoin exchange out there, for that matter. They could provide safety in respect to loans since this is not very difficult to implement technically (provided you know what you are doing), but they can't give you a genuine guarantee of any kind that they are safe from being hacked (or scamming and running away with your money). We should remember that Bitcoin remains Bitcoin, and once stolen there is no possibility of rolling back or undoing the theft in some other way

Is it profitable?

https://poloniex.com/lending#BTC
Here you see the current rates.

Those are the daily rates (!) so you can easily get 30% per year or more.

The rates jump up often, I've seen it above 1%/day at really speculative times. I would bet its possible to do much better than 30% per year.

Absolutely; but even when the rate drop is structural (a high amount of bitcoins was added about a week ago, so a big whale started to lend) it's a nice result. And because I'm using an intelligent lending bot my results are even better then manual lending gave me before.

There are so many of this on Facebook and they are called hyip or double or lending platform just like MMM founded by Mavrodi but be careful with this kind of sites or programs,majority of them are scam sites,I've not yet seen a trustworthy investment sites that uses Bitcoin.

If they would somehow guarantee that you will be able to get your coins back any moment it would be nice.
Not talking about the 72% interest.


I think the most important thing is "virtual".
Cause in reality you might soon find out it there is no such thing as "risk free".
And poloniex of all thing.... meh

That's true, these HYIP's are disguised and they pretend to be on your side so save with them for profits too good to be true but you'll eventually be scammed by them depending on the level of the ponzi you entered. I'll advice that people rather invest into cryptocurrency mining than rely on these or cloud mining as a form of saving investments.

Hyip is not a bitcoin savings account type business. Hahaha. It is the vice versa. There are so many ICO that has a feature like this just like chronobank and polybius. Try investing on an ICO that has a banking system platform and avoid hyips.

I think no project will be like that because there's a bitcoin wallet where you can hold your coin but there's ICO here in the forum where you are going to earn their coins by joining the bounty or just by investing in them by buying their coin with discount and wait for the distribution and sell it at the market if the coin is distributed.

A project like a Bitcoin savings account? Do you mean like the ones that banks have? Currently, I only use wallets to store my Bitcoin. It doesn't function like the way a savings account of a bank does, but I can store my Bitcoins there. So far for me, the services of a Bitcoin wallet is sufficient and enough. Other than that, I have not heard of any upcoming project that would act like a bitcoin savings account.

There is no way any exchange is going to make any guarantees like that, you can lend your money in poloniex to traders, but there is not guarantees that there are going to be takers for your loan offers or that people will want to pay the rates that you want, so you must take that into consideration when calculating your possible profits when lending.

It is something bank-like the way you say it.

Anyway, your bitcoin is always some sort of savings wherever you put it because it always gains value. Everyday bitcoin, although rising and falling in the middle, is going up. So the price of your bitcoin is also increasing. That's better than any savings deposit.

It is quite different question. I will give brief idea. It's right Bitcoin wallets useful to store bitcoins and worked as savings account. If any urgent need, you can spend your bitcoin anytime, anywhere. Its up to you.

Yes true, with the presence of bitcoin makes saving account. previously I had to transfer with high cost if abroad, but after the existence of the bitcoin then transfer fees of not more than $0.2.

I think the Op wants to receive something like interest rates for his bitcoin the same way a bank works, but that does not seem possible for the simple reason the number of coins is limited to 21 million, unlike fiat we cannot print them at will so it is impossible to try to manage bitcoin the same way governments try to manage the fiat economy.

Are you trying to say about the interest on the bitcoins while saving them?. There isn't any wallet which offers interest on savings, may be in future we will have any.

Savings account is save money and when you withdrow your money at the savaral time you will gotten some interest but bitcoin don't give you interest thought bitcoin rate ups and down.

Bitcoin has a savings account, I think have heard freebitco.in offer interest should try it if you love about it.

Yes no wallet will give you interest on bitcoins but I don't think that you need any interest on bitcoins as you can easily make profits with it by selling it when price goes higher and that profits will be higher in compare to the interest that banks will pay you.

Maybe interest will be provided in future, but I also think its not necessary, but it will be just a extra addition to the profit.
But this addition might bring old peoples and peoples who likes inerest.

I think its long way as a bank or wallet can only provide interest when they can earn enough amount and I believe many doesn't as many charges very less or nearly no fees.

A lot of bank are also not good, we all know that bitcoin value is unstable and bank will use it as their advantage, they can change the amount of value of bitcoin when its time to exchange it to fiat. They will use the unpredictable value and take advantage into it. Bitcoin wallet for me is better.

when i see how wallets gives a lot of better transactions conveniently, i stop using banks other than getting my salary and doing cashouts . I prefer biycoin transactions now that lining in bank tellers.

You don't have a bitcoin savings account. Your own wallet is already good to be your own savings account. And when the price of bitcoin is increasing just think that you are earning an interest from your deposit or holding amount.

Freebitco.in  you get like 4% interest annually but I wouldnt trust my money everywhere

That is an idea of bringing Bitcoin into the banking system, this will happen when banks and crypto currencies are now working hand-in-hand.

Ha ha.... 4% interest on bitcoin, which is an appreciating asset? How do they generate these returns?
And what happens if they fail to generate these returns. The better option is cold storage and taking advantage of airdrops like byteball.

This is not that much really

At any decent exchange you will get a lot more on average, though your interest is not guaranteed there, of course. But, strictly speaking, it is not guaranteed at freebitco.in either. Regarding generating returns, freebitco.in is a dice site, and they have a house edge which is way higher than at most "regular" Bitcoin dice casinos out there. The house edge across the "market" seems to be around 1%, while it is like 5% at freebitco.in (if I'm not mistaken). Further, they are aggressively advertising via Google AdSense, so their revenue flow from ads may be well above interest payouts (read it can be quite profitable overall)

Actually I can see as bitcoin savings to your own wallet. Just kept holding your bitcoin because for sure price will increase again. Though dump for now it will risen, just kept and HODL.

Savings account are supposed to generate a profit on an annual basis when money sits idly in ones account, but with the volatility of bitcoins, it will be hard to calculate profits accrued by the end of the year, I believe saving your bitcoins in your account is the same as using a savings account where you the banker and the customer at the same time.

I do not think so, but if anyone can make a bitcoin wallet address for someone else like building a bank in their own wallet for others especially keeping the security of other people's money :)

yes this is quite difficult and strange to see that how bitcoin network is working and the price of the bitcoin is now very high bitcoin is now very easy to keep save and secure from robbing and stealing bitcoin network has invented a lot of online wallets for this purpose and those are known as hardware wallets so it will be easy to keep your bitcoin save in it.

offline wallet is the best way for saving bitcoin in account . by this way you save your bitcoin very safe and secure . so many offline wallet are available in the market and another way you can download bitcoin core wallet from internet . it will take time but this is the best way to save.

I have a bitcoin saving account it is Ethereum Wallat  account i think my earns bitcoin btc are saving to this wallat account also be think at feture I will get a good respons.