Does CoinSpot offer Crypto Staking?
Yes, CoinSpot currently supports staking on 23 tokens including Cardano, Solana, and Avalanche, just to name a few. CoinSpot offers the highest staking yields out of any CEX (centralised exchange) in Australia. What makes CoinSpot even more unique is that it offers a tiered staking system that allows users to earn higher yields, the more tokens they stake.
How to stake Crypto on CoinSpot
Staking Cryptocurrencies on CoinSpot is a completely free service. Staking rewards are paid out to users once a week and are not locked in, meaning you can un-stake (withdraw) your funds at any time.
Follow the below steps to stake Cryptocurrencies on CoinSpot.
- Sign up to CoinSpot (if you don't already have an account) and verify your identity.
- Go to the 'Wallets' tab, find the Cryptocurrency you want to stake, and tap the 'Earn' tab.
- Input the amount that you wish to stake and click 'Confirm Earn Amount'.
- Rewards will be re-deposited into your staking amount once a week.
What tokens are available on CoinSpot Earn?
CoinSpot has a diverse selection of tokens that investors can stake to earn passive income. Refer to the below list for a detailed summary of CoinSpot's supported staking tokens and their corresponding yields.
- (ADA) Cardano - 3.3% APY*.
- (ALGO) Algorand - 6% APY*.
- (ATOM) Cosmos - 8.5% APY*.
- (AVAX) Avalanche - 4.9% APY*.
- (AXS) Axie Infinity - 45% APY*.
- (BNB) Binance Coin - 3.5% APY*.
- (CRO) Cronos - 7.8% APY*.
- (DOT) Polkadot - 9.5% APY*.
- (EGLD) Elrond Gold - 13% APY*.
- (ETH) Ethereum - 4% APY*.
- (FLOW) Flow - 6.8% APY*.
- (FTM) Fantom - 2.9% APY*.
- (LUNA) Terra - 5.7% APY*.
- (SOL) Solana - 4.5% APY*.
- (TRX) Tron - 4.2% APY*.
- (VRA) Verasity - 13% APY*.
- (WAN) Wanchain - 4.5% APY*.
- (XTZ) Tezos - 4.2% APY*.
- (ZIL) Zilliqa - 14% APY*.
- (MATIC) Polygon - 9% APY*.
- (ONE) Harmony - 7% APY*.
- (KSM) Kusama - 20% APY*.
- (KAVA) Kava - 20.5% APY*.
*APY is estimated and subject to change.
What is the CoinSpot Staking Tier System?
What sets apart CoinSpots staking program from others in the country is its tiering system. Users who stake high amounts of a token can earn better yields on their Cryptocurrency. There are three tiers that CoinSpot users can fall under, and the minimum staking amount varies depending on the token. Refer to the below table for a detailed summary of the CoinSpot Staking Tier System.
In the table, it states that the more you stake, the lower your earn rewards will be. However, users who have staked the amounts in Tier 2 or 3 will also receive rates within Tier 1, Tier 2, and Tier 3. For example, if you fall under Tier 2, you will receive staking rewards for both Tier 1 and Tier 2. For a more detailed explanation, you can visit the CoinSpot Staking Guide.
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 yields on your tokens. We would recommend staking Crypto on CoinSpot over using a decentralised platform like AAVE or Compound, which have smart-contract risks. For more information about the exchange and its security, visit our detailed CoinSpot Review.
CoinSpot is Australia's largest and most secure Cryptocurrency exchange that offers high yields for 23 different tokens. Staking rewards range from 2.9% to 45%, depending on the Cryptocurrency, with a tiered staking system that allows users to earn higher yields by staking more tokens.
The staking program is completely free of charge, and rewards are paid out weekly and not locked in, meaning you can withdraw your funds at any time. Staking on CoinSpot is a secure and easy way to earn passive income on your tokens. Additionally, it's a better option than using a decentralised platform like AAVE or Compound, which carry smart-contract risks.