high interest rate savings

How To Earn 8% On Your Money In Today’s Environment

I hate banks for many reasons. Aside from the paltry interest rates they offer on your hard-earned cash and all the hidden fees, I despise banks for their terrible customer service. From how their branch account manager gave me dirty looks because I didn’t dress “appropriately” when I tried to open an account to them rejecting me for a credit card despite the fact that I have an account with them where my salary is directly deposited monthly AND have a 6-figure balance in their bank.  

Just everything that banks do makes me sick. That led me to search for bank alternatives where I can earn high interest and not be subject to poor customer service. I’ve found two and they both offer extremely high interest rates on your cash – Crypto.com and Nexo.

I’ve recently opened an account with Crypto.com so I want to share with you my experience of how easy it was to open an account with Crypto.com because the more people that know about them the quicker we can put the banks out of business. Ok, that statement was a stretched claim but you get the picture.  

Crypto.com account opening was smooth and fast

The biggest plus for me is how lightning fast it was to open an account.  Unlike the megabanks that take about 2 weeks to open an account  (I’m looking at you Citibank and HSBC), my process took less than ONE minute! And I did it at home on a weekend night!

Crypto.com account opening process was smooth and fast.

  1. Enter full name
  2. Take photo of ID or Passport
  3. Take selfie
  4. Waited less than a minute and got verified (this was at 9pm at night mind you)

After being verified, I was able to use the app.  UI was clean and intuitive.  Live crypto rates. Bottom shows latest crypto news (includes promotions of crypto.com)

Can transfer money from your local bank into your crypto.com app

The great thing about Crypto.com app is that you can deposit currencies from any country where you have a bank account. For instance, I can deposit HKD from my HK bank and USD from my bank in the US.

You can buy cryptos with a credit card or use its crypto to crypto exchange.  There are fees for buy/selling, withdrawing/depositing as well as sending/paying. All fees are very reasonable and more favorable than those of the banks in my opinion. Don’t forget you also can earn cashback with your Crypto.com credit card as well. 

You can use invest in cryptos and earn interest. Unfortunately, they don’t have that in Hong Kong. 

Here is a list of offers from Crypto.com

Cryptocurrencies 1

Buy/Sell cryptos (top up your fiat with Transferwise or Paypal. So they’re really making fiat to crypto onramp very easy).

Credit card with cashback and free Netflix and Spotify (fan of neither so not a big deal for me).  Not to mention their credit card design looks sick! But don’t lose your card because you’ll be out $50 for a replacement for US customers.

Earn interest on your cryptos

Get loans instantly, no hassles, unlike banks!

Invest in cryptos by creating a portfolio using its automated quant trading service

They’re constantly adding new cryptos or features to their wallet app. Be sure to check their blog for updates and news.

It’s available in 56 countries, even in the US! You can check if it is available in your country here.

As great as Crypto.com is, it isn’t for everyone because there are still limitations. Make sure you do your own research first.   but if this sounds good for you, it’ll sound even better if you sign up with this promo code w35mt5ze5p.  Signing up with link will get you $50 after you pass KYC verification.