How to Stake Solana (SOL) in Australia

Where is the best place to stake Solana in Australia?

The best place and way to stake Solana (SOL) in Australia is by going through the most secure Australian-based cryptocurrency exchange, CoinSpot. CoinSpot offers the highest APY's (returns) for Solana staking in Australia and also offer the lowest fees. There are a few other cryptocurrency investing platforms that offer cryptocurrency staking for Solana but they all offer lower returns and higher fees.

If you are interested in learning more about CoinSpot and it's staking/trading options, you can visit our CoinSpot review page.

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How to stake Solana (SOL) on CoinSpot

This step-by-step guide shows Australian investors how to stake Solana (SOL) instantly with low fees. In this example, we use direct deposit as the deposit method but you can also use POLi, PayID, BPAY & Cash Deposit. Follow the below steps to get started.

1. Sign up to CoinSpot and verify your identity
2. Select ‘Deposit Funds’ and tap ‘Direct Deposit’
3. Copy the details into your banking app and send Australian Dollars to your CoinSpot account

4. Search for ‘Solana’ in the ‘Buy/Sell’ tab and input the amount of AUD you want to invest then select ‘Buy’

5. Go to the ‘Wallets’ tab and search for Solana and tap ‘Earn’
6. Enter the amount of SOL you want to stake/earn then select ‘Confirm Lend Amount’

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

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Solana Staking APY (Annual Percentage Yields)

CoinSpot offers the highest staking returns (APY) out of any cryptocurrency exchange in Australia. You can currently get 6.6% APY on your Solana when staking on CoinSpot. You can refer to the list below for competitors Solana (SOL) staking rewards.

• SwyftX - 6.1% APY‍
• Kraken - 6% APY‍
• Digital Surge - 6% APY‍
• Crypto.com - 0.2% APY‍
• Binance - 3.1% APY

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What is Solana and SOL?

Solana is a high performance, fast and reliable blockchain network and SOL is the native currency of the Solana network. It is used to power the network and its applications. The Solana network utilises a unique hybrid consensus model that combines a Proof-of-History (PoH) algorithm with Proof-of-Stake consensus mechanism that allows it to process transactions quickly and securely. Solana's decentralised applications can be built on top of the platform using its smart contract functionality.

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Solana (SOL) Live Price & Chart in AUD

Below you can find the live price and chart of Solana (SOL) in Australian Dollars.