Can I stake Crypto on CoinSpot?
Yes, CoinSpot currently supports staking on 22 different tokens including Cardano, Solana, Avalanche and Terra just to name a few. The returns (APY - Annual Percentage Yields) start from 4.2% and go up to a competitive 78%. Most Australian exchanges that offer staking have considerably less options and significantly lower yields.
How to stake Cryptocurrencies on CoinSpot
Follow the below steps to get started and begin staking your cryptocurrencies.
- Sign up to CoinSpot and verify your identity
- Go to the 'Wallets' tab and find the cryptocurrency you wish to stake
- Click on the 'Staking' button
- Enter how much of the crypto you want to stake
- Click "Stake" and you're done, your rewards will be deposited into your account once a week and will be instantly withdraw-able
What coins are available to stake on CoinSpot?
CoinSpot has the widest and most diverse selection of coins that investors can stake to earn passive income out of any Australian-based exchange. As at time of writing, CoinSpot offers the following cryptocurrencies to stake:
- ADA - Cardano
- ALGO - Algorand
- ATOM - Cosmos
- AVAX - Avalanche
- AXS - Axie Infinity
- BNB - Binance Coin
- CRO - Cronos
- DOT - Polkadot
- EGLD - Elrond Gold
- FLOW - Flow
- FTM - Fantom
- LUNA - Terra
- SOL - Solana
- TRX - Tron
- VRA - Verasity
- WAN - Wanchain
- XTZ - Tezos
- ZIL - Zilliqa
- MATIC - Polygon
- ONE - Harmony
- KSM - Kusama
- KAVA - Kava
What is the highest APY Staking Coin on CoinSpot?
The highest APY staking coin on CoinSpot as at time of writing is Axie Infinity, which currently offers 78% APY. This means you earn 78% of your staked tokens back over a year, essentially doubling your ownership of tokens in the network. These high yields are what makes CoinSpot the best crypto trading platform and staking platform for Australian users.
Is CoinSpot Crypto Staking safe?
CoinSpot is the safest cryptocurrency exchange in Australia and staking coins on their platform is a secure and easy way to earn yield. We would recommend staking crypto on CoinSpot over using a decentralized platform like AAVE or Compound, which have smart-contract risks.
For more information about their platform and for full staking APYs for their available staking coins, read our comprehensive CoinSpot Review.