What is a USD Interest Account?
A USD Interest account lets you earn up to 4.5% APY on US Dollars in a FDIC-insured brokerage account fully integrated into the Uphold App.
You can withdraw at any time - there is no lock up period - and deposit from as little as $1 with no cap.
For crypto traders, it’s an easy, convenient, and cost effective way to earn interest on USD while keeping funds handy for trading.
Gone are the days when you have to shuffle money backwards and forwards to a bank account to access interest and insurance protection.
The account is provided by Atomic Brokerage, a U.S. broker dealer, and can be opened in seconds via the Uphold App.
Key features:
- 4.5% interest on USD balances above $1,000
- 2% interest on USD balances $1-999
- $2.5 million in FDIC insurance
- No lock up period - access your funds instantly
- Move USD to and from crypto trading instantly
- No subscription required
- Yield generated through a US bank cash-sweep program
So what are you waiting for? This is an industry-best offer. Put your US Dollars to work today.
What is Atomic Brokerage?
Atomic Brokerage LLC ("Atomic Brokerage") is a broker-dealer and subsidiary of AtomicVest Inc. The company provides investment and financial services. Through its integrated service model, you’re given access to USD Interest Accounts, without ever leaving the Uphold environment.
Atomic Brokerage is registered with the SEC and a member of FINRA / SIPC. You can find out more about Atomic Brokerage on FINRA's BrokerCheck website.
Am I eligible for a USD Interest Account?
If you’re a U.S. resident, you’re likely to qualify for an account provided:
- You do not reside in Colorado, Louisiana and American Samoa
- You’re at least 18 years old
- You’ve successfully set up an Uphold account
- You’re not a 10% shareholder, officer or executive at a public company
- You’re not an employee at a FINRA broker-dealer
- You’re not a politician or have a close family member in politics
What are the annual interest rates?
- 4.5% on USD balances of $1,000 or more
- 2% on balances below $1,000
Interest rates may vary based on market conditions and other factors. We will notify you in advance of any changes.
When is interest paid out?
Interest is accrued daily and paid out monthly*, up to the 5th of each month.
You’ll receive a push notification and an email every time interest is paid.
The interest value is paid into your USD Interest Account.
For transparency, you can check the daily accrued interest value in the Uphold App.
*Total accrued interest in a given month must be at least $0.01 USD to be paid out. Any unpaid interest does not roll over to the next month.
How is my accrued interest calculated daily?
Each day, we calculate your daily accrued interest based on your balance using the Annual Percentage Rate (APR), which is slightly lower than the APY.
Why not use the APY?
Because Annual Percentage Yield (APY) is a yearly rate that includes the effects of compounding, assuming that all funds stay in the account throughout the year. In contrast, the Annual Percentage Rate (APR) does not take into account the effects of compounding.
In your USD Interest Account, the compounding effect happens at the end of each month, when your accrued interest is paid out. This is why the APY can’t be taken into account in the daily calculations.
Are the funds in my USD Interest Account protected?
Funds deposited into your USD Interest Account are swept to program banks and are FDIC insured up to $2.5M. Funds deposited into your USD Interest Account after 4 PM ET may be held and swept to a program bank the next business day. While your funds are being held in your USD Interest Account, pending to be swept to program banks, they are not FDIC or SIPC insured.
Are the funds in my USD Interest Account locked?
No. You can access your funds instantly at any time. There is no lock up period. In very rare situations - such as overwhelming demand - you may have to wait up to 2 days for settlement.
Is there a cap on the amount I can put in to earn interest?
No. Balances of $1,000 or more qualify for our highest rate of interest - 4.5%.
Is there a minimum balance to start earning interest?
You can start with as little as $1. The interest rate will depend on the amount you decide to invest.
Balances between $1 and $999 earn 2% interest; balances $1,000 and more earn 4.5%.
When do I start earning interest?
Within one business day.
What are the costs of the service?
Unlike many competitor products, there are no subscription charges or other account fees with the USD Interest account.
How do I fund my USD Interest Account?
From the Uphold App. On the USD Interest screen just tap “Money In” and select a funding source.
If you use USD, there are no trading fees.
You can also move money directly from cryptocurrencies into your USD Interest Account. There will be a standard exchange fee for currency conversion.
How can I download reports?
Your USD Interest account generates different reports that are available to download in-app.
To access them:
- Tap Interest at the bottom bar to access your USD Interest Account details;
- Tap More “...” option;
- Tap Documents then select the type of report you want to access: Monthly statements or Tax Forms.
Your USD Interest Account tax forms are made available at the end of each fiscal year.
Alternatively, you can access your reports via Atomic’s portal at http://investor.atomicvest.com/ using the email address associated with your Uphold account.
Why is my account creation taking so long?
Setting up your USD Interest Account typically takes just a few minutes. However, in rare cases, it may take longer due to additional checks required.
We’re actively working to enhance the user experience in these instances so that all eligible users can access this feature in the coming weeks.
If you're affected, rest assured—we'll notify you as soon as the issue is resolved.
Can my USD Interest Account be closed?
You can voluntarily close your USD Interest Account using the Uphold app.
Atomic can close your USD Interest Account at their discretion. Also, accounts with no activity for one year, with balances below $1, are considered inactive, and therefore closed. All you need is to make sure you have enough balance to generate interest.
Before closing an account, due to inactivity, Atomic will inform you and you’ll have 30 days to fund your account and keep your money working for you.