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Yield App review

Earn up to 12% APY on digital assets, but you must lock in 20,000+ YLD tokens for the best rates.

The Yield App is a decentralised finance (DeFi) account that pays up to 7% APY on Bitcoin (BTC) and Ethereum (ETH), and up to 9% APY on stablecoins such as USD Coin (USDC) and Tether (USDT). You can also earn up to 12% on Yield App’s own token, YLD. But you must hold at least 20,000 YLD tokens to earn the best rates.

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$0

Deposit fee

Up to 12%

Yield rate

Details

Product NameYield App
Yield rateUp to 12%
Deposit fee$0
Annual percentage yield (APY) BTC7%
Annual percentage yield (APY) ETH7%
More Info
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Quick verdict

Good for
  • Outstanding APYs of up to 12% per annum
  • 4 membership tiers to choose from to suit your digital asset needs
  • Operates under a European cryptocurrency licence
Not so great for
  • Limited assets supported
  • Must hold YLD to get the best rates
  • There are withdrawal fees. Only Diamond tier members benefit from 3 free withdrawals each month

What cryptocurrencies can I use with Yield App?

Yield supports the following cryptocurrencies:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Dai (DAI)
  • USD Coin (USDC)
  • Tether (USDT)
  • TrueUSD (TUSD)
  • Yield token (YLD)

What is YLD?

YLD is Yield App’s membership and rewards token. By holding it, you can earn bonus APYs on your assets. The more YLD tokens you have, the higher the bonus APY you’ll receive. You can acquire YLD tokens in 2 ways: by purchasing them on an exchange or by converting BTC, ETH, DAI, USDC, USDT or TUSD on Yield’s platform. At the time of this review, one YLD token is worth roughly US$0.15, and it has a market cap of US$25,742,212.

How does Yield App work?

Yield App isn’t an exchange, so you can’t purchase digital assets with fiat currency (e.g. EUR or USD). Instead, you have to connect your Yield App account to an existing crypto wallet. You can then transfer assets into your Yield App account and start earning.

Yield App has 4 membership tiers for each of the digital assets it supports.

  • Bronze
  • Silver
  • Gold
  • Diamond

BTC and ETH earn a base APY of 2%, while stablecoins earn a base APY of 5%. And the YLD locked in your account can mean earnings ranging from 0% to 6% APY.

The below table shows the 4 membership tiers and YLD lock in requirements to earn the maximum APYs.

Bronze
(0 to 999 YLD)
Silver
(1,000 to 9,999 YLD)
Gold
(10,000 to 19,999 YLD)
Diamond
(20,000+ YLD)
Bitcoin (BTC)2% + 0%2.5% + 1%3% + 2%4% + 3%
Ethereum (ETH)2% + 0%2.5% + 1%3% + 2%4% + 3%
Dai (DAI)5% + 0%6% + 1%7% + 2%9% + 3%
USD Coin (USDC) 5% + 0%6% + 1%7% + 2%9% + 3%
Tether (USDT)5% + 0%6% + 1%7% + 2%9% + 3%
TrueUSD (TUSD)5% + 0%6% + 1%7% + 2%9% + 3%
YLD Token (YLD)0%4%5%6%

Note: Rates indicated in the table are accurate at the time of writing, 6 June 2022.

How to earn the highest interest rate with Yield App

To earn the highest interest rates with Yield App in Ireland, you must hold at least 20,000 YLD tokens in your account. This puts you in the Diamond membership tier where you can earn the highest APYs.

Fees and rates

The first three withdrawals each calendar month are free for Diamond tier members, and transfers to other Yield app accounts are free for members of all tiers. The only fee Yield App charges is a withdrawal fee for withdrawals made to external crypto wallets. Here’s a breakdown of the minimum withdrawal requirements and withdrawal fees:

AssetMinimum withdrawal amountWithdrawal fee
Bitcoin (BTC)0.0015 BTC0.0007 BTC
Ethereum (ETH)0.04 ETH0.01 ETH
Dai (DAI)US$110 DAIUS$10
USD Coin (USDC) US$110 USDCUS$10
Tether (USDT)US$110 USDTUS$10
TrueUSD (TUSD)US$110 TUSDUS$10
YLD Token (YLD)120 YLD20 YLD

Note: Fees indicated in the table are accurate at the time of writing, 1 June May 2022.

Benefits of Yield App

Here are some of the key benefits offered by Yield App:

  • High APYs. Even with Yield App’s base APY tiers, you’ll earn much more than you’d earn with a traditional savings account in Ireland.
  • Assets are always accessible. Some crypto savings accounts require you to lock assets away to earn the best APY. While you can withdraw assets from your Yield App account at any time, you’ll be charged for this unless you’re a Diamond tier member.
  • Cross-platform support. You can access your account via Yield App’s website, but the platform is also developing Android and iOS apps.
  • Interest is paid daily. With Yield App, interest is paid into your account on a daily basis.

Drawbacks of Yield App

Yield App accounts also pose a few caveats to look out for:

  • Existing wallet required. Yield App isn’t an exchange, so you can’t buy, sell or trade crypto on the platform. Instead, you must have a crypto wallet and own crypto to open a Yield App account.
  • Minimum transfer requirements. To open a Yield App account, you must deposit 0.03 BTC, 0.1 ETH, 100 USDC/USDT/DAI/TUSD or 200 YLD.
  • Withdrawal fees. Yield App charges withdrawal fees that vary by the asset.
  • Limited assets supported. Yield App only supports 6 assets so if you hold anything other than those 6, you’ll have to look elsewhere.

Is Yield safe?

Yield App operates under a European Digital Asset Service Provider licence from Estonia.

It also uses 2-factor authentication to lower the risk of fraudulent activity within each member’s account. However, Yield App does not currently have any insurance protection. It moved away from BitGo’s security system (and it’s US$100 million insurance protection) and created an security system unique to Yield App’s own company needs.

Yield reviews and complaints

At the time of writing, Yield App has 74 reviews on Trustpilot, giving Yield App 4.7 out of 5 stars and an “Excellent” rating. Most of these reviews are positive, praising the platform for making it easy to earn passive income with crypto.

How to apply for a Yield App account

Follow these steps to open a Yield App account:

  1. Navigate to Yield App’s website and select Sign Up
  2. Enter your email address and create a password
  3. Check your inbox for a confirmation email and follow the instructions to continue

Eligibility

Meet the following requirements to open a Yield App account in Ireland:

  • At least 18 years of age
  • Not previously suspended or forbidden from using Yield services

Required documents

Depending on where you live, you may need to provide some or all of the following pieces of information.

  • Passport
  • National ID card
  • Driver’s licence
  • Utility bills
  • Bank statements
  • Income tax statements
  • Other government-issued residential certificates and statements

How to contact Yield about my account?

If you have questions or need help with your Yield App account, you have two options to contact customer support:

  • Email. Send a message to info@yield.app.
  • Website form. Fill out a form on Yield App’s website.

What we think about Yield App

Yield App is best for active crypto investors willing to acquire and hold the platform’s YLD tokens to earn the highest APYs. You can earn 7% APY on BTC and ETH and 12% APY on supported stablecoins if you hold at least 20,000 YLD in your account. But 1% to 3% of your interest is paid in YLD, depending on which APY tier your qualify for. So even if you only deposit ETH, some of your interest will be in YLD.

But you aren’t required to invest in YLD to earn with Yield App. You can still accrue 2% APY on BTC and ETH and 5% APY on supported stablecoins even if you never deposit a YLD token in your account. And if you decide to pick up some YLD, you’ll also earn 4% to 6% APY on it depending on how many tokens are held in your account. With Yield App, you can withdraw your assets at any time, but there is a withdrawal fee that varies depending on the asset.

If you already have a crypto wallet with BTC, ETH, USDC, or other supported stablecoins, you can open a Yield App account to earn attractive APYs. And if you’re willing to invest in the YLD token, you could earn higher APYs with the freedom to make up to 3 free withdrawals each month. If Yield App sounds right for you, open an account today. Otherwise, explore other crypto savings options.

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Frequently asked questions

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