Summary: CoinSpot is Australia's largest cryptocurrency exchange that offers the highest staking yields in the country. On CoinSpot, users can earn yields on 23 different tokens with APY (Annual Percentage Yields) ranging from 2.9% to 45%, depending on the token they stake. What makes it unique is its tiered staking system that allows users to earn higher yields the more assets they stake.
- Free and instant AUD deposits via PayID, POLi & Bank Transfer.
- Lowest trading fees in Australia starting at a low 0.1%.
- Buy, sell, trade and stake over 420 cryptocurrencies.
Can I Stake Crypto on CoinSpot?
CoinSpot's staking feature, known as "CoinSpot Earn," offers a robust way for Australian investors to earn passive income. By holding and staking specific cryptocurrencies on the platform, users can earn up to 45% Annual Percentage Yield (APY). The platform supports staking for more than 23 different cryptocurrencies, including Cardano, Algorand, and Solana. Notably, there are no fees or lockup periods associated with CoinSpot Earn, giving users the flexibility to reallocate their assets at any time. The staking rewards are calculated daily and credited to users' wallets, making it a convenient and lucrative option for those looking to maximise their crypto holdings.
How to Stake Crypto on CoinSpot
Staking cryptocurrencies on CoinSpot is a completely free service, and rewards are paid out to users once a week. When you stake your assets on the exchange, they are not locked in, meaning you can unstake (withdraw) your funds at any time. CoinSpot currently supports staking on 23 tokens, which includes Cardano, Ethereum, Avalanche and more.
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 token you want to stake, and tap the 'Earn' tab.
- Input the amount you wish to stake and click 'Confirm Earn Amount'.
- Rewards will be re-deposited into your staking amount once a week.
CoinSpot Earn Supported Tokens
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 CoinSpot's 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 assets. 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.
The table 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 Staking Crypto on CoinSpot Safe?
Yes, it 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 your assets 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.
To recap, CoinSpot offers staking on 23 cryptocurrencies, giving Aussie investors an opportunity to earn high yields on their assets. Staking rewards range from 2.9% to 45%, depending on the token, 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.