Why Your Next Savings Account Should Be on the Blockchain
Introduction Traditional savings accounts offer security but come with painfully low interest rates—often below 1%. Meanwhile, inflation erodes your money’s value over time. But what if you could earn 5%, 10%, or even higher yields while keeping full control of your funds? Enter DeFi (Decentralized Finance) savings accounts —powered by blockchain technology. These accounts cut out banks, offer better returns, and give you true financial sovereignty. Here’s why your next savings account should be on the blockchain. 1. Higher Interest Rates (Without the Bank Middleman) Banks lend your money to others and keep most of the profits. DeFi flips this model by letting you earn interest directly from borrowers, liquidity providers, or staking rewards. Traditional Savings: 0.5% – 2% APY DeFi Savings: 3% – 20%+ APY (depending on the platform and asset) Platforms like Aave, Compound, and Lido offer competitive yields on stablecoins (USDC, DAI) and even Bitcoin (via wrapped tok...