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Interest Accounts

Linus Review 2022: Earn More Interest On Your Cash

By Eric Rosenberg • March 27, 2022

At The Cult of Money, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners whom we receive compensation from. This doesn’t influence our evaluations or reviews. Our opinions are our own. Learn more here.Advertiser Disclosure

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Important Note: Linus is shutting down as of April 22, 2022.

Linus is an online account that works like a hybrid savings account and cryptocurrency investment account. 

When you deposit funds with Linus, your experience looks and feels a lot like a high-yield savings account.

But behind the scenes, your dollars are converted into cryptocurrency dollars and invested in a way that earns you a lot more than you would with the typical bank account. Keep reading to learn how it works, risks, fees, and if Linus makes sense for you.


Linus logo

Quick Summary

  • Pays up to 4.5% on cash deposits
  • Transfer funds via debit card, ACH, or wire
  • No deposit or withdrawal fees
OPEN AN ACCOUNT

Linus Details

Product Name

Linus

Product Type

Blockchain-based interest accounts

Minimum Deposit

$1

Interest Rates

Up to 4.5%

Promotions

$20 Bonus
(With Deposit Of At Least $100)

Pros And Cons

Pros

  • Earn up to 4.5% on your cash
  • Funds are converted to USDC and lent to borrowers in digital asset credit markets
  • No minimum balance requirements
  • Funds can be withdrawn at any time with no fees
  • Free $20 bonus for customers who deposit at least $100

Cons

  • Doesn't pay interest on Bitcoin or cryptocurrency holdings
  • Funds aren't FDIC-insured
  • No mobile app


Table of Contents
Pros And Cons
What Is Linus?
How Linus Works
Linus Interest Rates
Linus Costs, Fees, And Minimums

How Does Linus Compare?
Linus Safety And Security
Bonuses And Promotions
Does Linus Make Sense For You?
Linus Features

What Is Linus?

Linus is a unique investment account. The interface and account feel a lot like a savings account. But behind the scenes, it’s far from an ordinary savings account.

Linus converts your dollar deposits into cryptocurrency, which is then invested. Depending on your balance, you can earn between 4% and 4.5% APY. Deposits are not FDIC- or SIPC-insured, so they’re riskier than a traditional bank account and many stock brokers.

How Linus Works

Deposits with Linus convert into the USD Coin cryptocurrency, a stablecoin partially sponsored by Coinbase. USD Coin is designed always to be worth exactly one dollar. The organization behind USD Coin maintains deposits to support the value of the currency.

Once converted into stablecoins, your deposits are then invested in cryptocurrency-related credit markets. By lending, staking, and investing cryptocurrency assets, Linus generates a return that translates to something similar to a high-yield savings account.

USD Coin operates on the Ethereum blockchain. So while it’s always worth a dollar, it’s a real cryptocurrency that's traded using blockchain networks. The cryptocurrency investments are part of a liquidity pool. In this modern credit product, cryptocurrency users stake their currency using a smart contract to support a range of borrowing and liquidity needs.

Linus how it works

Linus Interest Rates

Interest rates at Linus can change monthly. You can view current and historical rates at the Linus website or when logged into a Linus account. As of writing, the current rates are:

Linus Interest Rates

Account Balance

Interest Rate

$0.01 to $2,499.99

4.00% APY

$2,499.99 to $9,999.99

4.25% APY

$9,999.99 and above

4.50% APY

As of September 2021, the average savings account interest rate nationwide was a paltry 0.06% APY. Even small balances at Linus earn 66 times more than the national average. While it’s a little riskier, the returns are much higher.

Linus Costs, Fees, And Minimums

Nobody likes paying fees for a bank or investment account. If you’re fee-averse, you’ll feel right at home at Linus. There are almost no fees or charges at all.

Linus doesn’t charge any recurring fees with no minimum balance requirements. You just need a cent in your account to start earning interest. However, if your account has a zero balance for an extended period, your account may be closed.

The minimum deposit or withdrawal is one dollar. That makes it very easy to get started. You can start with just one dollar and build from there. It’s a great alternative or addition to your current high-yield savings account strategy.

Linus works with a foreign card processor, so you may pay foreign transaction fees if you use a card to fund your account. When funding with an electronic funds transfer (ACH) or wire, you shouldn’t have to pay any additional fees.

That’s it. Linus won’t charge you any fees directly. It earns a profit by depositing your dollars into higher-yield products. Just like a bank, Linus takes a portion of the earnings and shares the rest with depositors.

How Does Linus Compare?

While other platforms pay interest on a wide variety of cryptocurrencies, Linus keeps things simple. You deposit cash and earn interest. That's it. Everything else (i.e. your cash being converted to USDC and subsequently lent out) happens by the scenes.

That simplicity is nice. It also means that you don't have to buy and hold non-stablecoin cryptocurrencies to earn interest. That could be attractive if the volatility of Bitcoin, Ethereum, or other cryptos worries you.

If you like the Linus model, you may also want to look into Outlet Finance as it's very similar. But if you're looking to earn interest on crypto that you already own and are HODLing, you'll need to choose another platform like Celsius or BlockFi. Here's a quick look at how Linus compares:

Header
Linus logo
Outlet Finance logo
Celsius Network Logo

Interest Rate On USDC

Up to 4.5%

Up to 6%

8.88%

Interest Rate On Other Crypto Coins

N/A

N/A

Up to 13.99%

Min Deposit

$1

$0

$0

Mobile App

Web Access

Cell
OPEN ACCOUNT
READ REVIEW
READ REVIEW

Linus Safety And Security

Linus is a financial technology company based in Nashville, Tennessee. It's not a bank and it’s not a traditional brokerage.

It’s riskier than a bank, though it appears to be relatively safe and upstanding. There’s always some risk when investing with cryptocurrency. And deposits with Linus may be at risk depending on what happens in the cryptocurrency markets.

To keep your Linus account safe, it’s essential to follow online best practices like using a unique, difficult-to-guess password for your account. You can also add two-factor authentication to secure your online account further.

Bonuses And Promotions

While promotions can change at any time, here’s a snapshot of how you can earn more as a new Linus customer right now:

  • Refer-a-friend promotion: If you send a friend to Linus and they deposit at least $100, you’ll both earn a $20 bonus.
  • Monthly bonus: Earn an extra 1% on deposits up to a $100 bonus. For example, a total of $2,000 in deposits would earn you another $20 bonus.

Does Linus Make Sense For You?

Linus is an easy-to-use account that helps you make money from cryptocurrency without having to get into the technical side of cryptocurrency, crypto wallets, cold storage, staking, and lending. When you deposit dollars into Linus, they take care of the complex parts and pay you a highly competitive interest rate.

It’s an excellent choice for cryptocurrency beginners who want to earn from the crypto boom without getting their hands too dirty on the technical side. It’s also ideal for cryptocurrency enthusiasts looking for another route to diversify their income from crypto. As long as you understand the potential risks of cryptocurrency and Linus accounts, it’s a good choice to earn a competitive interest rate with an online account.

Open a Linus account here to earn your signup bonus >>>

Linus Features

Product Type

Blockchain-based interest accounts

Min Deposit

$1

Min Withdrawal

$1

Min Balance Requirement

$0

Interest Rate On Deposits

Up to 4.5%

Maintenance Fees

No

Deposit or Withdrawal Fees

No

Supported Payment Types

  • Debit Card
  • ACH
  • Wire

Deposit Limits

Debit Card


  • Daily: $1,000
  • Weekly: $3,000
  • Monthly: $12,000

ACH


  • Daily: $10,000
  • Weekly: $30,000
  • Monthly: $120,000

Wire


  • Daily: Unlimited
  • Weekly: Unlimited
  • Monthly: Unlimited

Withdrawal Limits

Debit Card


  • Daily: N/A
  • Weekly: N/A
  • Monthly: N/A

ACH


  • Daily: $10,000
  • Weekly: $30,000
  • Monthly: $120,000

Wire


  • Daily: $100,000
  • Weekly: Unlimited
  • Monthly: Unlimited

Security

Linus uses Passbase to store sensitive information


Two-factor authentication (2FA) is supported

Mobile App Availability

No

Desktop Availability

Yes

Customer Support Options

Online chat and a helpdesk FAQ

Promotions

$20 Bonus
(With Deposit Of At Least $100)

Eric Rosenberg
Eric Rosenberg

Eric Rosenberg is a financial writer, speaker, and consultant based in Ventura, California. He holds an undergraduate finance degree from the University of Colorado and an MBA in finance from the University of Denver. After working as a bank manager and then nearly a decade in corporate finance and accounting, Eric left the corporate world for full-time online self-employment. His work has been featured in online publications including Business Insider, Nerdwallet, Investopedia, The Balance, HuffPo, Investor Junkie, and other fine financial blogs and publications. When away from the computer, he enjoys spending time with his wife and three children, traveling the world, and tinkering with technology. Connect with him and learn more at EricRosenberg.com.

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.

Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors’. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone’s responsibility to ensure all posts and/or questions are answered.

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