Where to Stake Crypto in Australia

Dominic Harper // August 8 // 0 Comments

If you have spent some time reading about crypto, you will have heard of staking, and now you're deciding where is the best place to do so. Here at Debt Bombshell, we have researched various platforms that allow cryptocurrency staking and have found the best exchanges and wallets for Aussies. 

But first, what is staking? Staking is putting your cryptocurrency to work by verifying transactions on a blockchain. As a reward for your contribution, you receive more of the cryptocurrency you have staked, like how you would receive interest when you place money in the bank. It is an easy and safe way for investors to grow their cryptocurrency holdings as they invest in the long term. 

Have a look at our list of the best places to stake your cryptocurrency in Australia.

  1. Bybit - Best crypto staking in Australia - most ways to earn
  2. Swyftx - Runner-up best crypto staking in Australia
  3. Digital Surge - Best for beginners
  4. CoinSpot - Most secure crypto staking in Australia
  5. Binance - Most coins available for staking
  6. Exodus - Best wallet app for staking
  7. Kraken - Staking for beginners
  8. Crypto.com - Additional benefits

Bybit – Most ways to earn interest on crypto

Bybit is the #1 crypto exchange in Australia. It is secure and reliable, and most important of all, it has a lot of features that a crypto trader looks for. Those who are interested in earning a passive income will certainly be delighted to know that Bybit Earn offers five different ways to do so. 

Those who are looking for a low-risk investment product can consider Flexi Savings, Shark Fin and Launchpool. Flexi Savings enables you to enjoy guaranteed yields and you can even choose from flexible- and fixed-term products to suit your portfolio. Shark Fin is a principal-guaranteed structured product that enables you to capitalise on an asset’s volatility. It has a minimum yield and is designed to provide stability in the unstable crypto environment. Lastly, Launchpool enables you to stake and earn tokens for free. Whenever you feel that you need liquidity, you can unstake your tokens anytime. 

If you’re looking for something with a high-yield, opt for either Liquidity Mining or Dual Asset. Through liquidity pools based on an automated market maker (AMM) model, Liquidity Mining allows you to earn yield from trading fees daily. Maximise this amount by adding leverage to increase your share of the liquidity pool. With this, you can earn up to 18.47 USDT per month for every $1,000 you invest. Dual Asset, on the other hand, is a short-term investment product that offers attractive returns in low-volatility markets. While there is a short lock-up period for this, Dual Asset allows you to earn up to 524.08% APY!

Ready to start earning a passive income with Bybit? Click here to register now and receive $10 FREE Bitcoin without a need to deposit!

  • Earn a passive income through five different ways, with competitive rates up to 524% APY
  • Minimal barrier to entry
  • User-friendly interface
  • 24/7 Live Chat customer support available
  • #1 cryptocurrency exchange in Australia

Other useful articles: Bybit reviewBest crypto exchanges in Australia, Best margin trading crypto platforms, Best crypto apps in Australia

Swyftx – Earn on 20 coins including BTC, ETH

Swyftx is one of the best crypto exchanges for Australians and they introduced their product called Swyftx Earn in 2022. While it is not technically staking, you can earn interest on 20 different coins, with plans to add more in the near future. It makes it high up our list because it is an extremely simple to use exchange, and you can easily earn interest on coins right after you purchase them. You can even earn interest on BTC and ETH, which are not available on CoinSpot at the time of writing.

The rewards on coins are very high, and can reach 101% annualised returns on AXS (Axie Infinity). There is no requirement for your crypto to be locked in for a certain amount of time, so you have the flexibility to withdraw it or sell whenever you like. You can start with as little as $1 so you don't need to own a lot of crypto to start earning interest.

Although there are over 320+ different coins on offer at Swyftx, they only offer earning on 20 coins at the moment, but hopefully they will increase their range soon.

  • Earn crypto on 20 different coins, with up to 101% annualised return
  • Start earning with as little as $1
  • No lock-in periods so you can withdraw and sell at any time
  • Live Chat customer support to assist when you need
  • Easy to use interface, perfect for beginners

Other useful articles: Swyftx reviewSwyftx vs CoinSpotSwyftx vs Binance, Best crypto exchanges in Australia

Digital Surge – Best Staking Platform for Beginners

Digital Surge is one Australia's best crypto platforms, and the reason it has made the list is because it offers a user-friendly interface, more than 300+ coins, and the lowest spreads in Australia. Digital Surge has made it extremely simple for newcomers to stake 13 coins, with just a few clicks.

Staking your crypto on Digital Surge is very flexible, with no minimum lock-in periods, and no maximum deposit amounts. Your crypto interest is calculated each day, and you receive a lump sum payment each month, which makes it convenient. 

While Digital Surge offers a smaller range of coins to stake compared to some other crypto exchanges, they are always looking to add more to their range, so stay tuned.

  • Stake 13 coins with competitive APY (annualised percentage yield)
  • Simple to use and beginner-friendly
  • No lock-in periods or maximum deposit amounts
  • Interest is calculated daily on your crypto, and paid out monthly
  • Low trading fees of just 0.5%, and average spreads of 0.21%
  • Live Chat customer support available 

Other useful articles: Digital Surge review, Digital Surge vs Swyftx, Best crypto apps in Australia, Best crypto exchanges in Australia

CoinSpot – Most Secure Staking in Australia

CoinSpot is the most trusted crypto exchange in Australia, due to its industry-leading security, and the trust it has gained from its customers since 2013. They are also a top choice for staking as they offer 21 different coins with high interest annualised rates, in a very intuitive and easy to use platform.

There is no lock-in period for your cryptocurrencies, so whenever you wish to withdraw, transfer, swap or sell your staked coins, you can do so easily with no hassle. 

Currently Coinspot offers a total of 360 coins, with staking on 21, and they plan to increase their offerings in the near future. Stay tuned and we will update you with the latest information.

  • Stake 21 coins with high APY (annualised percentage yield)
  • Extremely secure and trusted crypto platform
  • Withdraw, transfer, swap or sell your staked crypto at any time
  • Live Chat customer support available 
  • Intuitive and user-friendly, excellent for newcomers to staking

Other useful articles: CoinSpot review, CoinSpot vs Swyftx, CoinSpot vs Binance, CoinSpot vs Crypto.com, Best crypto exchanges in Australia

Binance – Most coins available to stake:

If you're looking for a crypto exchange where you can stake heaps of different coins, Binance is the best choice for you. They offer over 600+ cryptocurrencies that you can stake, with flexible options, as well as 30, 60 and 90 day fixed terms. The longer you choose to stake your cryptocurrency, the greater your interest rate will be. 

There are often sold-out options, which tend to be the 90 day fixed terms on popular coins. You need to get in early for those, or settle for a 60 day term with a lower rate of return. 

  • Stake over 70+ different cryptocurrencies
  • Flexible or fixed staking terms (30, 60 or 90 days)

Other useful articles: Binance review, Binance vs CoinSpot, Binance vs Swyftx, Best crypto exchanges in Australia

Exodus – Wallet app for staking:

So far we have only mentioned cryptocurrency exchanges as places to stake crypto, but you can also use a wallet app called Exodus. This is a safer way to store and stake crypto because any assets held with an online exchange comes with the risk of loss if the exchange is hacked. Exodus is a beautifully designed wallet app that is simple to use, and is available for desktop and mobile.

You can stake 8 coins on Exodus, which are ADA, ATOM, SOL, ATOM, DAI, ONT, VET and XTZ. The downside of this app is that you can only stake a very limited selection, but there are plans to grow this range in the near future.

  • More secure storage of cryptocurrency using a desktop or mobile app
  • Stake 8 coins: ADA, ATOM, SOL, ATOM, DAI, ONT, VET, XTZ
  • Store over 150+ different cryptocurrencies

Kraken – Staking for Beginners 

For those that are new to staking, Kraken is a very user-friendly crypto exchange that makes it easy for beginners to get started. Buying crypto is simple, and staking is just a few clicks within the crypto exchange. If you encounter any problems, Kraken's Live Chat support is readily available and always helpful.

 Currently Kraken offers 11 different cryptocurrencies to stake, including some popular ones - SOL, DOT, ADA and KAVA. They even support staking for two fiat currencies, USD and EUR which is not seen anywhere else. 

When you stake on Kraken, you begin earning rewards almost instantly, and you will get weekly interest payouts (twice a week for some coins). This is great, because some other crypto exchanges don't pay any rewards until the locked staking period has expired.

  • Easy to use for buying and staking crypto
  • Stake 11 cryptocurrencies and 2 fiat currencies (USD and EUR)
  • Start earning staking rewards within minutes 
  • Receive rewards once or twice a week, depending on the coin

Other useful articles: Best crypto exchanges in Australia

Crypto.com – Additional Benefits:

Staking on the Crypto.com app is fantastic, as you can earn rewards on 47 different cryptocurrencies, and choose either a flexible option, or keep it locked for either 1 month or 3 months. The interest rate will be greater, if you stake your crypto for longer. If you want a safer way to earn passive income while staking, you can stake stablecoins such as TrueAUD or USDT, which are linked to the AUD and USD respectively. This means their value doesn't fluctuate like other cryptocurrencies, because they are always pegged to the fiat currency. You can receive 10% annualised returns on stablecoins, which is a lot better than anything you will receive from an Australian bank.

Crypto.com also offers a ton of extras when you stake their own coin, called CRO. If you stake more than $5000 worth of CRO, you get higher returns on all your other staked coins as well. Not only that, if you stake at least $500, you receive a free Crypto.com Visa debit card, that you top up with AUD and pay for items just like a regular debit card. The benefits you receive depend on the level of card you receive, based on the amount of CRO you stake. For example, you can get 100% rebate on Spotify and Netflix monthly subscription fees (paid back to you in CRO), up to 5% cashback on any purchases with the Visa debit card, and airport lounge access.

Remember that if you choose to stake your crypto for a fixed term of 1 or 3 months, you cannot withdraw or sell that crypto until the term expires. If your staked coin shoots up in value, you cannot sell it to reap the profits unless the term has finished, so this is something to keep in mind. You need to decide what your crypto investment strategy is and consider all the options.

  • Stake 47 different coins including stablecoins
  • Access higher interest rates when you lock for 3 months
  • Flexible staking options as well as fixed terms (1 or 3 months)
  • Stake CRO to receive higher interest on other coins, and receive free Visa debit card
  • Visa debit card gives up to 5% cashback on every purchase, as well as 100% back on Spotify and Netflix and 10% on Airbnb and Expedia

Other useful articles: Crypto.com review, Best crypto exchanges in Australia

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About the Author: Dominic Harper

Dominic has a background in finance and is passionate about cryptocurrency, blockchain technology and NFTs. He has been investing in crypto since 2017, and is excited about the potential for innovation and creative uses for NFTs in the near future.

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