Investing Simple Logo
Get 1 Free Stock Worth Up To $200 From Robinhood!
Sign up with Robinhood, deposit any amount and get 1 Free Stock. It takes less than 3 minutes to sign up and claim your Free Stock Bonus.
Webull free stock promotion
Get Up To 5 Free Stocks From Webull
Open a new Webull brokerage account today and deposit any amount of money to receive 5 free stocks. Webull offers commission free stock, ETF, option and crypto trading.
Written by Ryan Scribner on May 15, 2023
FTC Disclosure

Yotta vs High Yield Savings 2023: Which Is Best?

Ryan Scribner is an angel investor in Yotta. 

When it comes to saving money, finding the right account can make a significant difference in how quickly your funds grow.

Yotta and high-yield savings accounts are two options that offer unique features to help you supercharge your savings.

Let's compare the benefits of Yotta and high-yield savings accounts to determine which option may be more suitable for your financial goals.

What Is Yotta?

Yotta has attracted over 700,000 members who are enticed by the potential of winning up to $1 million every day.

While Yotta provides a base rate of 0.20% APY on savings, its primary appeal lies in the daily prize drawings. Participants have the opportunity to win daily cash prizes ranging from $0.03 to an astonishing $1 million.

The average annual savings reward of 2.70% APY further incentivizes users to save their money with Yotta. The allure of potentially winning big adds an exciting element to the savings experience, appealing to those who enjoy a touch of gambling excitement.

Yotta has expanded its offerings beyond the online savings account, providing debit and credit cards. These additional products allow users to earn more tickets into the daily prize drawings, increasing their chances of winning.

The recent launch of I Bonds Buckets simplifies the process of buying I Bonds, eliminating the need to navigate the outdated Treasury Direct website.

What Is A High Yield Savings Account?

On the other hand, high-yield savings accounts are a popular choice for individuals looking to grow their funds faster than traditional savings accounts.

These accounts typically offer significantly higher annual percentage yields (APYs) compared to the national average.

For example, while the national average for savings accounts stands at 0.39% APY, high-yield savings accounts can earn around 4% APY.

This notable difference in interest rates allows your balance to grow more rapidly over time, without requiring any additional effort on your part.

High Yield Savings vs Yotta

The primary difference between Yotta and high-yield savings accounts lies in their approach to savings.

Yotta combines the traditional concept of saving with the excitement of daily cash prize drawings, attracting individuals who enjoy a more gamified experience. The potential to win large sums of money serves as a motivator to save.

On the other hand, high-yield savings accounts focus solely on providing a competitive interest rate that outperforms traditional savings accounts. This approach appeals to individuals who prioritize maximizing their savings growth without the element of chance.

When deciding between Yotta and a high-yield savings account, it's crucial to consider your personal preferences and financial goals.

Be sure to read our full Yotta review here for more info!

This article was generated using automation technology, and thoroughly edited and fact-checked by an editor on our editorial staff.

Article written by Ryan Scribner
Ryan Scribner wrote a book called “From Side Hustle To Main Hustle To Millionaire” about his side hustle journey. He started off as a utility worker in Upstate NY before launching his YouTube channel in 2016 as a side hustle. In 2017, he went full time with the online business, quitting his job. Since then, he has grown his channel to 800,000 subscribers. Ryan now shares side hustle tips with others and is an angel investor in many fintech companies.

Read more

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
Copyright © 2018 – 2023 Investing Simple LLC. All Rights Reserved.
Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Website managed by Stallion Cognitive™

Get 1 Free Stock Worth Up To $200 From Robinhood!

Don't Miss This Opportunity!

Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram