Cryptocurrency staking has become an increasingly popular way for investors to earn a return. A crypto investor who stakes their tokens will receive a stake reward from protocols, perhaps in the form of Avalanche network funds (AVAX) that are being distributed among AVAX stakers and validators.
One of the benefits of a centralised cryptocurrency exchange like CoinSpot is that it make staking and participating in network validation accessible to Australian investors. You have options to can stake on CoinSpot or you’re always able to unstake whenever you want.
What Crypto Assets can I Stake?
On CoinSpot, you can invest in 22 different cryptocurrency assets and withdraw them at any time. Staking on CoinSpot is flexible and interest rates are paid out every week, which means you’re able to withdraw your profits as soon as they become available.
List of CoinSpot Staking coins and yields (APY).
|CoinSpot Staking Coins||Annual Interest (APY)|
|(ADA) Cardano||5.2% APY|
|(ALGO) Algorand||6.1% APY|
|(ATOM) Cosmos||11% APY|
|(AVAX) Avalanche||7% APY|
|(AXS) Axie Infinity||75% APY|
|(BNB) BNB||5% APY|
|(CRO) Cronos||12% APY|
|(DOT) Polkadot||4.5% APY|
|(EGLD) Elrond Gold||13% APY|
|(FLOW) Flow||6.8% APY|
|(FTM) Fantom||6% APY|
|(KAVA) Kava||23% APY|
|(KSM) Kusama||18% APY|
|(LUNA) Terra||8% APY|
|(MATIC) Polygon||12% APY|
|(ONE) Harmony||9% APY|
|(SOL) Solana||6.5% APY|
|(TRX) TRON||6% APY|
|(VRA) Verasity||19% APY|
|(WAN) Wanchain||6.3% APY|
|(XTZ) Tezos||4.1% APY|
|(ZIL) Zilliqa||14% 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 Dashboard or can go to help page.
Read | Tectonic Crypto : What is Tectonic Cryptocurrency
How do you Stake Crypto on CoinSpot?
CoinSpot is an Australian-based exchange allowing you to trade Bitcoin and over 50 altcoins with AUD. In order to buy cryptocurrency on CoinSpot, you first need to deposit funds into your account using AUD. Once your account is funded, you can then place an order to buy cryptocurrency. To sell cryptocurrency on CoinSpot, you will need to create a sell order. When your sell order is matched with a buy order, your cryptocurrency will be sold and you will receive AUD in your account.
How to Stake Crypto on CoinSpot in Australia?
If you are new to Investors on Crypto and need to CoinSpot Account we have outlined a simple 4-step guide to start earning interest on your Crypto deposits.
- Go to – CoinSpot.com.au & Sign up with complete your KYC and the verification process
- Visit the ‘Deposit AUD‘ screen and select your desired payment method and deposit the amount of AUD you wish to invest
- Click the ‘Buy/Sell‘ tab and choose the cryptocurrency you wish to buy, then input the dollar amount you want to purchase
- Go to the ‘Wallets‘ tab and choose the cryptocurrency you wish to stake, then click ‘Staking’
FAQs of CoinSpot
Can I stack on CoinSpot?
When you sign up for a CoinSpot account, you will automatically be given a personal wallet where you can store your Stacks for free. If you’re not using your Stack tokens as an investment, and are instead holding them in the hope that their value will go up, stay safe by storing them in a cold storage wallet on Your CoinSpot Account.
What does stake mean in CoinSpot?
When you stake a cryptocurrency, you are essentially locking up your coins in the hopes of earning a higher return on investment. The longer you stake your coins, the higher the potential return. However, this also means that you are unable to sell or trade your coins during this time.
CoinSpot offers a number of staking options for different cryptocurrencies, each with their own minimum and maximum stake periods.
For example, at the time of writing, you can stake Ripple (XRP) for between 1 and 12 months, and earn a return of up to 10% per annum.
Can the ATO see CoinSpot?
In order to properly file your taxes for CoinSpot, you’ll need all your taxable transactions – including short-term and long-term capital gains and losses, or any additional earnings from the crypto you’ve been involved in. Head on over to CoinSpot.com to view your entire transaction history.
What is the Maximum Limit for Sell Crypto on CoinSpot?
BTC, ETH, XRP, BCH, EOS, LTC, BNB, HOT, TRX, ADA, NEO – $100,000 limit per transaction. The limits for buying and selling coins will depend on market liquidity. The same limits can’t be raised on each user’s account.
Read | What The FTX Bankruptcy ? Explained about the FTX Bankruptcy
Coinspots Staking Terms & Conditions