Exchange Review

How to Stake Cronos (CRO)

Summary: This guide shows Australian investors the best way to stake Cronos (CRO), the native token of Crypto.com in Australia. We recommend avoiding staking CRO on the Crypto.com exchange as it offers low returns. On CoinSpot, you can receive 11.1% APY on CRO staking.

By 
James O'Connell
 on  
August 13, 2022

Cronos was the first blockchain network that was able to integrate with the Ethereum and the Cosmos ecosystems. It enables the creation and execution of smart contracts and supports DeFi, NFTs, and Metaverse projects. Cronos or CRO is the native utility token for the Crypto.com exchange and is used to pay fees on the platform. The token CRO can also staked on Crypto.com for some benefits.

Table of Contents

Where is the best place to stake CRO with low fees

Crypto.com has some unique benefits for users who stake CRO on the platform. If you stake CRO on Crypto.com you will have access to a Crypto.com VISA card that allows you to spend cryptocurrencies as cash. Although unique, this isn’t really that enticing if you already own a debit card. Besides owning the card itself, it practically has no utility besides providing you with 2% higher APY on your CRO staking. 

However, the CRO staking APY (returns) with the VISA card bonus is still significantly lower than other exchanges like CoinSpot. On Crypto.com you can get anywhere between 4-8% APY (Annual Percentage Yield) on your CRO staking and it’s a fixed term agreement meaning you will not be able to un-stake (withdraw) your CRO from Crypto.com for 180 days. 

On CoinSpot, you can you can receive 11.1% APY on your CRO staking with no fixed term, meaning you can stake and unstake your cryptocurrencies as often as you want. 

CoinSpot Home Page
CoinSpot Home Page

How to stake Cronos (CRO) in Australia

In this short and simple guide, we show Australian investors how to stake Cronos (CRO). Follow the below example to get started.

  1. Sign up to CoinSpot and complete your verification
  2. Select ‘Deposit Funds’ and click ‘Direct Deposit’
  3. Copy your CoinSpot ‘Unique Direct Deposit’ details into your banking app and send funds to your CoinSpot account
Deposit Funds on CoinSpot
  1. Search for ‘Cronos’ in ‘Buy/Sell’ and input the amount of Australian dollars you want to invest then select ‘Buy’
Buy Cronos on CoinSpot
  1. Go to ‘Wallets’ and search for ‘Cronos’ and tap ‘Earn’ (stake)
  2. Enter the amount of CRO you want to stake ‘earn’ then select ‘Confirm Lend Amount’
Cronos Wallet on CoinSpot

Your Cronos staking rewards will be paid out every week into your CoinSpot Cronos Wallet.

Available deposit methods for Australian Dollars on CoinSpot

In addition to direct deposit (Osko), Australian investors can also deposit AUD via BPAY, PayID, POLi & Cash deposit. However, not all of these methods are free and instant like Osko is, you can refer to the list below for further details. 

  • BPAY - 0.9% Fee & Deposit takes from 0 - 2 business days 
  • PayID - Free & Instant
  • POLi - Free & Instant
  • Cash Deposit - 2.5% & Instant

Why should use CoinSpot over Crypto.com to stake CRO?

As mentioned earlier, CoinSpot offers flexible staking on Cronos (CRO) and higher APY (returns) than Crypto.com. Additionally, CoinSpot is a platform tailored for Australian traders that offers more AUD deposit methods, 24/7 Australian live support team and is licensed and regulated to operate in Australia. Crypto.com is a less secure platform to use than CoinSpot. 

CoinSpot is the only high-security exchange in Australia and the only one to undergo the SCI Qual International security audit and obtain the ISO 27001 standard security certification. To learn more about the CoinSpot exchange and its features, assets, fees and security, visit our CoinSpot Review

CoinSpot Security Page
CoinSpot Security Page

Staking and Trading Cronos Fees

When investing and staking any cryptocurrency, it’s important to consider the fees that are involved. To sell or buy any token on CoinSpot there is a 1% fee when you use the ‘Instant Buy’ feature or a 0.1% when you use the ‘Market Buy’ feature. For staking, CoinSpot does not charge any fees whatsoever. It is completely free to stake cryptocurrencies on CoinSpot. 

Most DEXs (decentralised exchanges) won’t charge a staking fee but you would have to cover the gas (transaction) fee, which can be pretty expensive. That’s why we recommend staking on safe, secure and off-chain centralised exchanges like CoinSpot.

Cronos (CRO) Live Price in AUD

Please refer to the below live price and chart for Cronos (CRO) in Australian Dollars. 

Stake Cronos on 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.

DeFi Guides that Matter.

Keep up to date with the fastest moving markets with out newsletter. Find the best yields in DeFi and latest tokens.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.