What is the Best Exchange to Stake Crypto?
As mentioned above, the best cryptocurrency exchange in Australia for staking is the Bybit platform. Bybit has the most diverse selection of staking types and tokens. It offers both single and double-sided staking, fixed and flexible staking terms and various token types such as stablecoins, meme coins, altcoins, dog coins, NFT coins and Metaverse coins.
How to Stake Crypto in Australia
The fastest and most affordable way to stake cryptocurrency like Ethereum and Bitcoin in Australia is through the Bybit exchange. Bybit accepts crypto and AUD deposits via POLi, Bank Transfer, Credit/Debit Card and many more payment methods.
Follow this easy and quick guide to start staking crypto:
- Create a free account on Bybit and verify your email address.
- Deposit the crypto you want to stake into your wallet or buy the token you want to stake directly with AUD.
- Once your crypto has been deposited, go to the Finance tab and click ‘Earn’.
- Find your asset and execute the staking process.
Best Crypto Staking Yields in Australia
Following our detailed investigation into the top staking options available to Aussie investors, our expert team identified and ranked the top five options. Refer to the below list if you would like to compare the top five cryptocurrency staking platforms in Australia:
- Bybit: Stake over 100+ tokens with different terms like staking length, yield percentage and leverage.
- CoinSpot: Stake 23 cryptocurrencies with flexible staking terms, meaning you can stake and unstake at any time.
- Binance: Stake 70+ cryptos under four different staking types, including Dual Investment, Farming and Staking.
- eToro: Stake Cardano, Ethereum & Tron for high yields. The APY for eToro's tokens are calculated differently every month depending on the number of users that pledge that specific token. Please refer to this article on how to calculate your APY.
- Coinbase: Stake Ethereum, Cardano, Solana, Cosmos and Tezos for 2% - 6.12% APY.
Staking Cryptocurrency Fees
The fees will vary depending on what exchange you use to stake cryptocurrencies. Most centralised exchanges will typically waive the staking fee and only charge a deposit and/or trading fee. On Bybit, there is zero deposit and staking fees. This means the only fee you could incur is if you buy a token on Bybit before you stake it, and then it will be a small 0.1% fee.
Is Crypto Staking Safe?
Staking cryptocurrency can be a rewarding process, but it is essential to consider the inherent risks and security concerns associated with it. The safety of staked assets depends on several factors, including platform security. To improve the safety of staking, it is vital to research the cryptocurrency exchange you’re using. This is why we recommend using a secure, centralised exchange like Bybit.
It is also important to remember that when a cryptocurrency offers unusually high APY, this typically indicates that the token is volatile. So, if you're risk-averse, avoid high-yielding tokens.
To recap, for Australian investors looking to stake cryptocurrencies, Bybit is the top recommended platform due to its diverse offerings, flexibility in staking terms, and impressive APY reaching up to 150%. Bybit is a secure, non-KYC exchange that allows for easy staking with over 100 tokens available.