DeFi

How to Stake Axie Infinity (AXS) in Australia

Summary: The best way to stake AXS in Australia is with the CoinSpot digital asset trading platform. They offer the highest staking yield for AXS at 78% APY.

By 
James O'Connell
 on  
May 24, 2022
Verified Author

For Axie Infinity (AXS) investors in Australia looking to find the best platform to stake their tokens, we've got you covered. Our team has compared all of the exchanges available for Australian residents and has found the best crypto exchange to stake AXS tokens.

Table of Contents

How to Stake AXS in Australia

The easiest and best way to stake Axie Infinity in Australia is with the CoinSpot digital asset platform. They offer the highest interest for AXS stakers at 78% APY. This is higher than alternative platforms like SwyftX which offer 74% for Axie Staking.

You can get started with this simple guide:

Step 1: Sign up to the CoinSpot platform and buy Axie Infinity (AXS).

Buy and stake Axie

Step 2: Visit the Axie Infinity Wallet and select 'Earn'.

Staking AXS on CoinSpot

Step 3: Input the amount of AXS you want to stake and select 'Confirm Lend Amount'.

Step 4: You're done! The AXS token interest will be deposited into your account every day.


Is Staking Axie on CoinSpot Safe?

Yes, CoinSpot's staking platform is the safest and has the most users in Australia. Their exchange currently boasts over 2 million Aussie customers, including some of the largest institutional investors in Australia.  


How to Play Axie Infinity in Australia

If you would rather play Axie Infinity with your AXS tokens instead of staking them, we recommend you check out the Axie Marketplace to buy some Axie's. You will need to buy at least 3 Axie's to battle against other players.

The minimum cost of entry to buy 3-floor Axie's is $30 with the cheapest Axie's costing around $10. That means all you need is a Metamask Wallet and $30 to start playing and earning on Axie Infinity!

Axie Infinity Marketplace


Should I Stake AXS on Ronin Chain?

You can stake your Axie Infinity (AXS) token on the Ronin Chain if you prefer to leave your funds on chain. However, we recommend using a centralised platform like CoinSpot because they remove a lot of the risks and costs that are associated with moving tokens cross-chain.

AXS Staking Risks

The main risk that AXS stakers need to consider is something called 'smart-contract' risk. This is mainly in relation to a black-hat hacker potentially hacking into the smart-contract wallet that deploys the AXS rewards to Axie Infinity staking participants.

While this is unlikely, investors should always be aware that there is a non-zero probability that any smart-contract can be hacked. This is another reason why we recommend centralised exchanges because many of them are insured for such scenarios.

Visit CoinSpot

Author Bio

James O'Connell has been writing about traditional markets for over 5 years. He pivoted to writing about digital assets after learning about lending protocols like AAVE and Compound.

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