Exchanges

Can I Stake Crypto on SwyftX?

Summary: SwyftX currently offers staking for over 20 different cryptocurrencies on their platform like Cardano, Polkadot, Solana, Ethereum, Bitcoin, USDC and more.

By 
Timothy Wilson
 on  
June 10, 2022
Verified Author

SwyftX is one of Australia's largest digital asset trading platforms that allows users to buy over 350 cryptocurrencies, and stake 20 different Proof-of-Stake coins. They were the first Australian crypto exchange to offer a 'Crypto Earn' product and are a pioneer in staking services for Aussie investors.

In this guide, we will outline the safest and easiest way to stake your tokens with the SwyftX platform to start earning passive income.

Table of Contents

How to Stake Cryptocurrency on SwyftX

The process to stake digital assets on SwyftX is incredibly easy and can be done in a few simple steps.

  1. Sign up to the SwyftX trading platform.
  2. Buy any of the 20 available staking cryptocurrencies like ADA, DOT, or SOL.
  3. Visit the 'Earn' page and find the token you want to stake.
  4. Select the token and input the amount of crypto you want to stake
How to Stake Crypto on SwyftX

Once you finalise your staking transaction, you will start earning passive rewards into your SwyftX account daily.


What are SwyftX Staking Tiers?

SwyftX enforces "APY tiers" that give users with less money staked higher yields, compared to users who stake larger amounts. This supposedly allows them to provide larger caps across their available staking assets.

For example, the are 3 tiers when you stake USDC on the SwyftX platform. These tiers are as follows:

  • Tier 1: 0-15,000 USDC staked earns 6.71% APY.
  • Tier 2: 15,000-30,000 USDC staked earns 5.54% APY.
  • Tier 3: 30,000+ USDC staked earns 4.49% APY.

As you can see, the more tokens you invest - the lower yield return you get. This is why we generally prefer CoinSpot Staking, because they do not offer tiered yields generally have higher rewards for users.


Does SwyftX Earn charge fees?

The SwyftX Earn platform does not charge fees when users stake their cryptocurrencies to earn passive rewards. That said, their yields are slightly lower than competitors like CoinSpot or Binance, which means that they may take a stealth fee from the reward without instructing users.


What is SwyftX?

SwyftX is one of the largest and most trusted exchanges in Australia that are widely regarded due to its diverse range of features. Their platform currently offers over 370 cryptocurrencies, digital asset staking, and low instant buy fees that start at 0.6% per transaction.

For more information, you can read our comprehensive SwyftX Review.

Visit SwyftX

Author Bio

Timothy Wilson was a former Prop Trader for a notable crypto trading fund based in Hong-Kong. He built BCA after deciding he wanted to focus his career on educating new users about Crypto and DeFi.

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