# Donut: Earn 6% APY with DeFi — user reviews > 50 indexed App Store user reviews of Donut by Donut, Inc., rated 4.42/5 from 3,183 ratings. - Source: https://appshunter.io/ios/app/donut-earn-6-apy-with-defi/id1484997461/reviews - App overview in markdown: https://appshunter.io/ios/app/donut-earn-6-apy-with-defi/id1484997461.md - Rating breakdown: 5★ 2,558 · 4★ 179 · 3★ 55 · 2★ 18 · 1★ 371 ## What do users think of Donut? Overall sentiment: mixed **Pros** - 🚀 Fantastic customer service - 💰 High interest rates and APY - 🔒 Secure platform with over-collateralization - 📈 Steady growth of funds - 🤝 Transparent communication from the team - 🔍 Detailed account tracking and visibility **Cons** - 🚧 Withdrawal delays and account freezes - 🤔 Lack of diversification options - 🔍 Unclear risk disclosure and investment strategies - 🤷‍♀️ Inconsistent user experience across updates - 🔐 Concerns about reliance on third-party lenders **Commonly reported bugs** - Account verification issues causing delays - Occasional app crashes or freezes - Inconsistent data syncing between app and bank accounts **Most requested features** - Ability to create sub-accounts or 'buckets' for different savings goals - More transparency around collateral and lending partners - Expanded withdrawal options and faster processing times - Improved in-app communication and status updates ## Newest reviews (10 of 50) ### 5/5 — Fantastic and low anxiety *2022-09-27, version 3.6.1* As a low income millennial, it is so hard to feel like I am making good moves with my money. The wonderful folks at donut not only have made a place for my limited income to grow but help me have peace of mind with their open communication and low-risk way of investing. I have referred more than a few friends and family members to Donut, I hope they make the same decision I did, and invest with one of the most fun, open, communicative companies, I have ever come across. Thank you donut, you are helping my family thrive. 🙏🏽❤️ ### 5/5 — Happy with Donut *2022-09-22, version 3.6.1* I started Donut before the crypto crash and yes I did loose money. I feel Donut’s team mitigated the crash as best they could and minimized investors loses. In return, Donut implemented an APY recovery boost for affected investors. I was able to recover my loss and make money during the recovery boost. Donut has tightened up their investment strategies to make sure investors are not affected by another crash. Also, I feel Donut has great customer service. Whenever I had a question or there was an issue setting up an outside account, someone from Donut’s team was in communication to help. A phone option would be nice. I don’t mind texting and emailing back and forth, but sometimes it’s nice to actually talk to someone. Overall I am very happy with Donut! Donut - Keep up the good work and continue to ensure investors money is safe and secure! ### 5/5 — Highly Rated Passive Investment Medium *2022-09-21, version 3.6.0* The Donut app is highly rated. Back in November 2021, when I first heard of the Donut app from my two brother in laws (one is a high end web developer and the other builds rockets for SpaceX), I was skeptical. However, I did a fluidity check by transferring in $10 to see how long it’ll take to hit the account. I was happy to see interest started accruing instantly. That was nice. However, I was concerned about fluidity of withdrawing funds, but to my surprise, the process is very quick, smooth and painless when withdrawing funds from Donut. This gave a tremendous confidence boost. Another factor I love about Donut is the over collateralization by 125%. This risk management helps protect funds. Lastly, back when UST stable coin depegged, Donuts management team mitigated the losses expertly and there were minuscule losses seen by investors like myself and my two brother in laws. Donut now uses USDC stablecoin which is fully regulated by the NY Department of Financial Services. In the end, I have complete faith in Donut and I highly recommend Donut to everyone that I can. ### 5/5 — Skeptical but Now Convinced *2022-07-20, version 3.3.1* I was skeptical of all things crypto but am a huge fan of intuitive fintech that can help me manage savings and investing better. I have Donut a tentative try for 60 days. The customer service has been impeccable and the communication good. Feature updates have been expanding and I’ve been earning 4-6% consistently with no hiccups. I’ve since moved most of my savings to Donut from other fintech apps. This is the best thing I’ve found in these wacky financial times. I highly recommend. ### 3/5 — Withdrew money *2022-07-04, version 3.1.1* Was in the grow plan and lost 13% of my money. Was disappointed but donut handled the response reasonably well and gave everyone a large boost (though this wasn’t remotely enough to make up for the lost money). As the weeks wore on, donut seemed less and less willing to even acknowledge the event even happened or communicate new steps on how they would protect our assets. This led me to withdraw my money. Recently, I’ve discovered that Donut has switched all deposits to use USDC, which is ostensibly the safest stablecoin out there. However, this virtually eliminates diversification and therefore increases risk so I’m questioning this move. I don’t think I’ll be reentering the crypto field until further regulation happens ### 5/5 — Love the response to UST crash *2022-06-28, version 3.1.1* I’m one of those that also lost 13% in the UST crash (almost $1000), but despite the loss I’m quite happy with the way Donut has handled the situation this far. Due to the simple interface, users probably fooled themselves into thinking Donut is a savings plan. Donut themselves provide several materials on their site explaining how this is DeFi INVESTING and there is inherent risk as such. That’s why there were different levels of plans for different levels of risk. Only the people invested in the growth plan lost money from the UST crash. Those complaining how they lost money and that this isn’t a savings account obviously didn’t do their own research to do their own cost benefit analysis. I understood from the get go that I was taking a risk by putting my funds into the growth plan, the biggest risk I saw being Donut being a start up. I wasn’t sure how they would fare when things got rough, which they certainly did during the UST crash, but instead of floundering and just running away with all our cash, they went back to the drawing board, restructured their plans, and provided a recovery boost to those affected. I have more faith in Donut now than I did before the crash and still continue to use it. ### 5/5 — Trustworthy *2022-05-28, version 3.0.8* Donut handled the UST collapse extremely professionally. Communication was constant throughout. The company is helping make up for lost funds giving us a boosted interest rate (19%) from its funds and the initial losses were reduced (to 13% on my funds in their grow product) because Donut diversified when a bunch of other apps didn’t. They have three products, two of which (save & build) weren’t affected at all. Their riskiest product (grow) was affected. It’s again easy to withdraw, easy to deposit. ### 5/5 — I keep coming back for more *2022-05-20, version 3.0.8* Donut and the entire team have been huge. What an awesome crypto solution to make the power of defi available to all. I’ve been through the best of times and even the worst of times now with the recent UST debacle. While donut had some exposure and I did lose quite a bit of money the way they tackled this unprecedented market challenge and looked out for their users was absolutely massive. I really appreciate how Neel and the team have always put their customers first in the vision for what donut offers but also when the going gets rough (as it can in crypto) and still putting users first. Kudos! ### 4/5 — Crypto Market Crash *2022-05-19, version 3.0.8* If you’re like me using this app, to build wealth with the high APY rate. The recent crypto crash, had me worried about my funds in this account. Everyone that invest in crypto understands the risks of losing all of their assets, no single investment in crypto is safe from failure at all. That being said, the way the team handled the recent UST crash and kept there word on the collateral for the ‘save’ plan which allowed me to remove my full amount and it was deposited in 5 days in my bank. My faith has been restored in this app and the service they provide. Just understand you do not have to be in the riskiest assets to make a good APY, but as is life, higher risk = higher rewards. Just remember, you are making the choice of acceptable risk when you select which plan you setup. Donut is only the vehicle. Great job Donut Team. Keep it up! ### 1/5 — Donut App Preventing Withdrawals *2022-05-14, version 3.0.7* DO NOT USE THE APP! I loved Donut, believed in its mission, and encouraged all my friends to use it, but yesterday I tried to withdraw and it didn’t work! Then today they announced something! You can’t switch plans, you can’t withdraw! I am actually about to LOSE money from having used this app. The app says your $ is secure, but they will make you pay for their poor investment choices! When the crypto market plummets, you will pay! The app makers are just here to make a quick buck! Not to securely invest your hard earned money and protect you. Their app bugs out at the worst time and YOU have to pay for it! Their GROW plan should be called the LOSE plan because the only thing you get from it is quick LOSS. ## Most critical reviews (10 lowest-rated) ### 1/5 — Fraud and misappropriation of funds *2023-01-22, version 3.8.2* Neel the CEO is going to jail. They lied about diversification through three different failing to disclose that 95% of user funds were lent to Genesis until after they had already paused all withdrawals. Their Assets Under Management for $78 million listed on their website is false, Genesis’ bankruptcy report that was leaked to the public shows that Donut has $78 million in unsecured loans instead. They lied about having 125% collateral and they lied about having 100% liquidity on their website of that was the case why can’t anyone withdraw their funds? The CEO Neel has disconnected his phone number following the announcement of Genesis filing for bankruptcy .If you say anything negative about them on social media they will block. Neel and the entire Donut team should go to prison for fraud, misrepresentation and misappropriation of user funds. ### 1/5 — Scary service! *2023-01-18, version 3.8.2* I too feel deceived by their super nice and easy to use app, put all my savings over 200K in their safe and secure savings account for 2 months, trusting I can withdraw anytime but when I tried to withdraw this Genesis mess happened, since November account is blocked and money stuck. Feel so stupid to believe their service is safe, been so scared, don’t know what to do. I’m a single mom, been saving that money for over 10 years to buy a house and my family emergency fund, college education, unemployment emergency- all is in there. It’s been affecting me and my child tremendously - had to stop house search, we live below means, depressed and stressed and scared of losing the only money we have all because of this stupid donut app. The weekly communications don’t really give comfort that money will come back, it makes my suffering continue. Please Donut have mercy and give me my principal back! My family can’t survive like this! It’s not my fault that Genesis ran into liquidity and didn’t inform you. You stated you were in regular contact with all your lenders how could you not know? How could you not tell your users to withdraw earlier to avoid this stress? ### 1/5 — Do not use *2023-01-04, version 3.8.2* All investing comes with risk but Donut did a poor job at actually explains this risk. The company likes to talk about their high rates and how secure their investments are and how their accounts should be viewed as a savings account. This is false advertising. Last spring one of their investments turned into a loss. Passed this loss onto to their customers. I was finally about to break even, when another one of their lenders froze their program. This lead to Donut freezing it’s customers accounts. Over a month later I’m unable to withdraw anything. So much for using their “buckets” to help save for my life goals. Even when deposits and withdraws start again I recommend skipping this app. ### 1/5 — DO NOT USE DONUT *2022-12-20, version 3.8.2* Their operations are very shady. Please do not invest with Donut. Some points to consider before you want to try them: 1. They will randomly deduct money from your account and will give the reason as “Market Adjustment”. Their is no defined percentage for this Market adjustment. They deducted almost 13% from my account and had no explanation to why it was 13%. Tomorrow they can deduct 23% and say it was Market Adjustment and you cant ask them anything more than that. 2. Their customer service is very poor. The number they have listed on their site does not work. They can only be contacted through chat that too 8 out of 10 of their responses are standard replies. 3. They can stop you from taking money out of your account at any time. They have put a hold on transferring money from Donut for more than a month and now they have changed it to 5% cash out only. So in case you have an emergency and want to cash out YOUR own Money, they can prevent you from doing that. 4. If you say anything against them on social media, they block your account and remove your comments from their page. I reached out to their facebook page, they deleted my comment and then blocked me from writing any more comments on their page. Overall my experience with Donut has been horrible and I would highly recommend you to not use this app. Its better to invest in stocks, you can atleast see whats happening to your money. PLEASE DO NOT USE THIS APP. ### 1/5 — Países with no hard timeline *2022-12-06, version 3.8.0* I loved this app, I thought that it was a safe investment model… long story short it is not safe, if they lose money they will steal your money. They took $5800 from my account due to a small drop in crypto. Also they have paused all activity lately this means no interest and they are blocking the ability to withdraw money. Because of them I lost over 10k and now my money that I was going to use for Christmas is locked in their imaginary jail because the team made bad choices. I highly recommend staying away from this app, it looks super enticing with its touted 5-10% rates but just know that without warning they are able to change that to 0% and they have also if you are interested in being able to withdraw when you need it they might not let you. And on top of that they have super slow customer service. Most of the time I don’t like giving apps 1 star due to the fact that they can be deleted by the company but this app try ely deserves less than 1 star. ### 1/5 — Was great until multiple crypto collapses *2022-11-28, version 3.8.0* Don’t be swayed by high APR. it’s great when you are earning but it’s extremely high risk. For example, the UST depeg caused all Grow plan users to lose over 13% of their funds. I lost more than a thousand dollars and was left for a week without knowing if any of my money would be available (withdrawals were frozen for a week). And right now with BTX collapse, all funds are frozen and you can’t withdraw your money. And there’s been no communication regarding this for more than a week with no ETA on when it will be unfrozen. Short story, this is not a safe way to make interest. It’s unpredictability illiquid and you can lose money. You are better off investing in the stock market. ### 1/5 — Don’t recommend *2022-05-20, version 3.0.8* I wanted to like this app but the inconvenience is overwhelming. When I initially signed up I transferred money, then my account was frozen for a week. Pending me sending in my drivers license and pictures of myself (still took a week to verify). Then you figure I’d be good, but as soon as I tried to withdraw and was waiting for a week. I didn’t hear anything so I emailed and was told there is a delay is cashing out your funds …a week later again. I was then asked for months of bank statements. (Concerning because in the wrong hands now you have all of my information). Still no funds back 😣. I can’t say I will Use this or recommend it. At this point I should be the one asking for proof of non fraudulent activity! ### 1/5 — False advertising *2022-05-16, version 3.0.8* Donut advertises that they are a safe way to invest into crypto the crypto market when in really they are just a bunch of crooks who can’t take ownership for their own mishaps. I’m ashamed to say I was a donut user for a few month and threw more money into their service than I should on the grow plan. They made it sound like they knew what they were doing and even if there was a market shift, the money in your account was protected. That’s a complete lie and in the few months I had money on their platform I lost thousands and they would as much as take any responsibility. Save your money and invest in something truly secure. Stay away from this app, Neel and the entire bunch of liars at Donut. Just my two cents. ### 1/5 — Scam *2022-05-16, version 3.0.8* Try to get far away from this app! You will lose more than you earned. It’s ad make it sounds like a bank. But unfortunately it is not a bank. If I can, I should sue them. It lost my completely trust because of 2 things. In their FAQ, they mentioned they are backed with DAI, they never mentioned anything related to UST. As I knew that UST was not good reputation, if Donut disclosed they use UST, then I won’t put my money in. 2nd of all, in May 11th, when I sense the risk in the whole stablecoin market, I want to withdraw my principle back, but Donut failed me by setting up that $50,000 daily limitation. I only could saved my $50,000. The rest of the fund, I was told I couldn’t withdraw until 24 hrs. And then 2-3 hrs before I could withdraw again, Donut’s CEO sent an email and freeze everyone’s account and told the user cannot withdraw any cash until they calculated the loss. Only 2 hrs difference, if you let me control my freaking hard earning money, I could saved every penny. But Donut freezed the account. This app lost my trust forever, not mention, they offered only 8% interest, when they actually earning 19% from Anchor Protocol. ### 1/5 — Donut has lost trust *2022-05-15, version 3.0.7* Donut makes a lot of false claims, froze withdrawals in the midst of a stablecoin crash (which happens) but they handled it by panicking and not taking responsibility. Ultimately they probably handled it reasonably well and mitigated some losses, but we’re supposed to lose 15% of our money. They made many claims that our principle was protected. They are trying to avoid blame. Basically I had the app over 6 months, made some money in interest but I’m losing FOUR times what I made. This was supposed to be “safe crypto.” My advice is that there is no safe crypto, invest your money in the real stock market. When the actual stock market gets bad, you still own shares. With the loss donut users are seeing here, we have nothing to show for it. We just lost money and we won’t get it back. I’d even rather gamble money myself in crypto than think it’s being taken care of to wake up to ALL my money being frozen and being told I’ll definitely be losing some. Beware ## Most praised reviews (10 highest-rated) ### 5/5 — Not a scam, just crypto volatility *2022-12-19, version 3.8.2* Good news to everyone who thinks this is a scam; it’s not! In recent weeks, Donut was forced to pause deposits and withdrawals due to Genesis, their primary lending partner, having a liquidity crisis as a result from panic after FTX collapsed. Yes I have a lot of money wrapped up in Donut right now, and yes it’s made financials for me more difficult when I’m unable to access my savings, but the Donut team is in the same boat. They’re not profiting off of this, and are taking losses in order to protect Donut’s users. Their customer support team is top-tier and are so patient and understanding, and I am convinced that they are doing everything they can to protect the funds in Genesis. They even have updates on the situation twice a week. They’re doing everything right, and I can’t express enough gratitude for the team for what they’re doing right now. After this situation is resolved, I plan on continuing to use Donut for my savings. They have proven themselves to be resilient and worth the risk. Thank you Donut team for everything you do!! ### 5/5 — Amazingly Satisfied *2022-11-15, version 3.8.0* I have been with Donut since October 2021. I am very happy with my product. I went through the market decline and took a hit but it did not sway my confidence in Donut. The organization gave some clarity on the situation and I was understanding. They issued some resolutions that did help and for that I appreciate their efforts. Overall I am completely satisfied with the company and hope to continually grow as the bring new products that will foster greater relationships with existing and new customers. Keep up the good work. Sincerely Ronald Wilford ### 5/5 — Not a scam, but no get rich quick *2022-11-14, version 3.8.0* This is literally just a savings account, it’s a savings account that give you WAY more apy than any bank you have, i bank with chase. Think about if chase threw a penny in your account every other day or week or hour, (depending on how much you have in the bank) that’s this, I’ve had it less than 3 months and I’ve made $ .16 . Now that’s now a million , but I’ve banked with chase for years and have gotten money taken from me in fees, much less given money lol. And that’s me putting only $20 in because my own skepticism. I will be saving all my money here from now on and watching it grow ### 5/5 — Great APY, Wonderful Company and People *2022-11-03, version 3.7.2* The Donut Team has been fantastic and I absolutely love this company and its app. Where else can we earn a 6% steady return on our idle cash with minimal risks? Bear in mind though, unless it is government-guaranteed or FDIC-insured, no investment is entirely risk-free. In that respect, like any other investment, our money placed in Donut is no exception. But what makes this company stands out is that its team has been diligently looking after our money in both good and bad times. When UST depegged from the "Dollar", Donut was able to save us from incurring severe losses while other companies in the same industry are reeling in such an unprecedented situation. Donut also made an effort to compensate those who have incurred minor losses by boosting their APY by an additional 15% for 60 days in order to soften the blow. And now, Donut uses USDC (one of the safest stablecoins backed by a ratio of 1-to-1 U.S. Fiat Currency) to ensure our money is safer than ever before. Transferring money in and out of Donut is a breeze. My deposits with Donut earn interest immediately after I hit the transfer button, while withdrawals, from my own experience, have never taken more than 2 business days to arrive back in my bank account. And whenever I have a question, I sent them an in-app message and always get a response back within one day. Keep up the good work, Donut! ### 5/5 — Reliable and easy to use *2022-10-25, version 3.7.2* So I initially downloaded the app and deposited a couple hundred dollars to test out functionality and reliability. Throughout those first few months, it had done everything that was promised: I was able to safely and quickly withdraw funds when necessary, APY got added on a daily basis (while being able to see real-time gains), and customer service was VERY responsive. I’m currently 7.5 months into the app, and it’s the only DeFi source I use at this point. I’ve found that other apps take extra time to withdraw, or don’t provide enough of an APY. In terms of accessibility, the app is extremely user friendly and there are constant updates that make interactions even more convenient. Additionally, the last reason I’ve still continued to use this platform is because of weekly/monthly “boosts”, where we’re given an additional +X% in APY for a short period of time. This shows to me that the creators are willing to retain their members, and are always thinking of creative ways for us to enjoy the app. Also, if you do choose to use the platform, I highly recommend following on IG as they seem to interact with customers on a regular basis. ### 5/5 — Outstanding Support! *2022-10-25, version 3.7.2* I had an issue with my credit card not rounding and sending the rounded amount to Donut. I worked with support on this issue and they were great. I told them all the details and in a short time they fixed the problem. Outstanding customer support during and after my problem. They even checked weeks later to ensure no further problems arose. I would recommend Donut and I will continue to use them myself. Thank you Will, Mathew, and Christine. Andrew W. ### 5/5 — About 6 Months In *2022-10-13, version 3.7.1* I had my doubts about this app but have gradually grown to like it’s money saving features, interest ‘boosts’ and ability to increase fixed APY for accredited investors. When I started, I expected an APY as high as 9 or 10%, because this was what was advertised (Save/Build/Grow plans). However, the base is now 6% with max 7%. The biggest positive is being able to reach the care team via a message on the app; they do an excellent job of communication promptly. As a general comment, not aimed at the app, the DeFi space is a bit mysterious to me and the lack of FDIC insurance makes this ‘riskier’ than a typical financial institution savings account - I have been slow to build this in my portfolio. Overall, so far so good. Ask me again in 5 years! My gut, research and global financial trajectory tells me that DeFi lending in general will explode over the coming years - perhaps this is something to watch for. ### 5/5 — Incredible app with an even more incredible team behind it. *2022-10-06, version 3.7.0* There was an issue with the latest build, so I posted that there was an issue both here and through the app. Within less than an hour the CEO reached out with helpful tips and to let me know the issue was being worked on (has since been completely fixed). Additionally, when the market took a dive this company went out of their way to help everyone recover. Don’t hesitate to trust this company. ### 5/5 — Good stuff!! Good, good stuff!!!! *2022-10-06, version 3.7.0* I downloaded the app wanting to see how/if it works. Its very easy to set up and use. I contacted customer service cuz I had some questions and just wanting to make sure I was understanding everything correctly. *UNLIKE most companies now where….it’s almost impossible to get in touch with someone at all….and when you do….it’s that lovely email tag back and forth every couple of days to have a different rep helping to prolong the situation with a question to “understand what’s going on” , just so you can do that over again cuz in a few days from that, will be another email for someone else!!!!** And the word your looking for is …. ANYWAYS…… Haha. Not Here, just a button on the bottom of the app that sends a message. then you will here back from a rep that will see’s it thru. So far that app and William at donut have been awesome. ### 5/5 — 1 Year Review Of Donut App *2022-10-04, version 3.7.0* I’ve earned more than $2,032 on Donut in a year. I consider this passive income. I have ~ 10% of my portfolio in Donut and it’s the only part that is up this year. That’s because Donut is market neutral and they use Fixed price assets (Stablecoins). I take FULL advantage of their referral program, it’s free money and has no cap. Tell a friend get an extra 6% APY for a week (12% total), pretty easy. Other things I like include are 24/7 withdrawals, no lock ins or fine print, and it protects my top resource my time, I don’t have to study anything or follow market news. I’ve used other apps chasing APY and burnt myself with lock-ins and fine print so Donut is refreshing. --- *Data collected daily from the US App Store and indexed by [AppsHunter](https://appshunter.io/). User reviews are verbatim App Store reviews. Ratings, prices and chart positions refresh continuously; this snapshot is from 2026-06-10.*