Yotta is Just Not What it Used to Be :(

TL;DR: Previously we talked about Yotta Savings Account as a fun and high-yield alternative to traditional savings accounts. However, yields are coming back down.

When the Y-Combinator backed Yotta came out with a new, sexy bank account, it was fun and high-yield. However, we knew the fun wouldn’t last once they succeeded in attracting users in.

Since the beginning, they have made several changes to the prizes to lower their worth and probability of winning. Yields are closer to 1.5% APY now. In addition, after $25k your funds get 1 ticket per $100 deposited (instead of $25) and you cannot deposit over $100k. So after 25k, your expected APY is closer to 0.4%.

With the base 0.2% you earn on top of the lottery prizes, this brings any deposit over $25k in line with some of the other traditional high-yield savings accounts.

Welp. It was fun while it lasted.

TheJKW