What Cryptos Can I Stake on CoinSpot?
CoinSpot is one of Australia's most diverse staking platforms with 23 different tokens available to stake on the exchange. Staking on CoinSpot is flexible, which means you can deposit and withdraw your assets at any time. Interest rates are also paid out weekly and can be withdrawn at any time. Below is the complete list of CoinSpot Staking options and their corresponding yields (APY):
- (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 (Annual Percentage Yield) is estimated and is subject to change. You can get a live update of the available CoinSpot Staking Coins on their help page.
How to Stake Crypto on CoinSpot
Staking cryptocurrencies on CoinSpot is a straightforward process that only takes a minute to complete. In this short guide, we will explain how to buy and stake tokens on the platform, but if you already have the crypto you want to stake on the platform you can simply transfer it to CoinSpot instead of buying it.
To get started, follow this simple and quick guide:
- Open a free account on CoinSpot, complete the verification process.
- Click 'Deposit Funds,' select a payment method and deposit the AUD you wish to invest.
- Tap the 'Buy/Sell' tab and buy the cryptocurrency you want to stake.
- Open the 'Wallets' tab, find the token you wish to stake, input the amount you want to stake and click ‘Confirm Earn Amount’.
Coinspot Staking Terms & Conditions
Users staking rewards will be calculated at 12 AM AEDT and is credited to your wallet every day after 10 AM AEDT. Users must first un-stake their tokens if they want to trade their staked cryptocurrencies. APY rates are estimated and can fluctuate without notice due to market conditions.
Is Crypto Staking Safe?
Cryptocurrency staking, a popular investment method in the decentralised finance (DeFi) realm, is considered a safe and reliable option for investors looking to participate in the blockchain ecosystem. The security of staking stems from the consensus algorithm known as Proof of Stake (PoS), which enables participants to validate transactions and secure the network by holding and locking a specific amount of digital assets in a wallet.
This process, known as staking, reduces the chances of malicious activity, as potential attackers would need to control a significant portion of the network's staked assets to execute any harmful actions, making it economically unfeasible. Furthermore, staking platforms typically employ multi-signature wallets and cold storage solutions, enhancing the safety of users' funds.
Crypto staking is a great way to earn additional income from your crypto holdings. If done correctly, crypto staking with a platform like CoinSpot can be a secure and profitable way to grow your cryptocurrency portfolio.