This article will show you how to stake on Coinspot in Australia. This is a complete guide to get you started in your staking and crypto journey on Coinspot.
Coinspot is the most popular crypto exchange platform in Australia, it started its operation since 2013 and has more than 360 cryptos listed on its platform.
Coinspot is loved by most Australians because of its less charge fee which is as little as 0.1%, its easy-to-navigate interface that is friendly to everyone, and its active support.
Staking Crypto is holding a certain amount of crypto in your wallet to support the operation of the crypto and the blockchain which in turn reward you with a fraction of tokens. Your reward will be based on the cryptocurrency and the period.
How to Stake on Coinspot
If you are ready to stake on the Coinspot platform, then this guide will be of help to you. Below is a step-by-step guide to stake crypto on Coinspot.
- Open the Coinspot website or you can download their mobile app if you are using a smartphone.
- If you are not a registered user, you can register on the platform and complete all the registration processes.
- After you have successfully signed to your Coinspot account, click on the WALLETS menu to go to the Wallet page.
- Now look for the coin you want to stake and click on it. This will send you to the wallet of that specific crypto. You can see the list of coins you can stake on Coinspot below. Make sure you have topped up your wallet.
- In your coin wallet, click on the Staking menu on the left sidebar.
- Enter the amount you want to stake or you can stake all coins in your wallet by clicking on the stake all available.
- Click on the Staking button or the Edit Amount button.
- You will receive a confirmation message telling you, you have successfully staked.
Compound Staking on Coinspot
Compound staking is using your reward to automatically stake. This will add your reward to your staked amount. Let us look at how to make compound staking.
- On your staking page, just below where you enter your amount, click on Stake all available.
- Check the box Automatically re-stake my rewards.
- Click on the Edit Amount button.
Coinspot Staking Coin List
Below is a list of all coins you can stake on Coinspot.
- (ADA) Cardano
- (ALGO) Algorand
- (ATOM) Cosmos
- (AVAX) Avalanche
- (AXS) Axie Infinity
- (BNB) BNB
- (LUNC) Terra Luna Classic
- (MATIC) Polygon
- (ONE) Harmony
- (SOL) Solana
- (TRX) TRON
- (CRO) Cronos
- (DOT) Polkadot
- (EGLD) Elrond Gold
- (FLOW) Flow
- (FTM) Fantom
- (KAVA) Kava
- (KSM) Kusama
- (VRA) Verasity
- (WAN) Wanchain
- (XTZ) Tezos
- (ZIL) Zilliqa
Best coins to stake on Coinspot
The best coin is believed to be stable and also has a high APY. But you may have your own way of defining best the best coin. The list below is what some experts believe are the best coins to stake on Coinspot.
- ADA – Cardano
- VRA – Verasity
- ALGO – Algorad
- ATOM – Cosmos
- CRO – Cronos
- DOT – Polkadot
What is Coinspot staking fee?
Coinspot does not have any staking fee. However, you will be required to pay tax on any reward you earned from crypto staking.
Is Coinspot staking risky?
The risk involved in crypto staking is the coin losing value.
Can you stake Ethereum on Coinspot?
Currently, you can not stake Ethereum on Coinspot
With the help of this article, we hope you have successfully stake in the Coinspot platform. However, make sure you consult your financial advisor for advice since you can lose your money if the coin loses its value.
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