10 Best Crypto Staking Websites to Earn Daily Returns

The emergence of new cryptocurrency markets (such as Stablecoins and DeFi tokens) opens new opportunities to earn interest on your cryptos by participating in something called “Crypto Staking.” 

We have listed the 11 best crypto staking platforms in Australia based on a number of factors. This includes staking rates, eligible cryptocurrencies, ease-of-use and additional benefits.

What is crypto staking?

Crypto staking refers to locking up your coins or tokens in a blockchain network in order to earn a reward. This reward can be accumulated, withdrawn or traded. In that sense, staking is a method of passively earning income on top of your digital assets, much like a crypto savings account. 

Staking is vital to minting new cryptocurrency and helps validate transactions on the network. This process is known as a Proof-of-Stake (PoS) consensus mechanism and without it, many cryptocurrencies would simply stop working. Because of this, stakers can earn interest as well as ensure the long-term health of their investment and its associated blockchain. 

Staking can sometimes be more profitable than crypto mining or trading, although it does come with its own unique risks, which we will cover in this article. 

The pros and cons of crypto staking

Risks of staking cryptos	Pros of staking cryptos
Price volatility – the underlying crypto asset could drop significantly in dollar price	High interest returns compared to the banks
Not your keys, not your crypto – if you store your crypto with a third-party they control your crypto	Some pay interest daily
Failing projects – new DeFi coins offering high yields could collapse and leave you with nothing	Some have flexible staking, allowing you to withdraw at any time
Hacks – your custody provider could get hacked and you lose your coins	It is now possible to stake your coins using your hardware wallet

Best websites to stake your crypto for daily returns:

1. Swyftx Staking
2. Zipmex Australia
3. Crypto.com Earn
4. Digital Surge
5. Binance Australia
6. Gemini Earn
7. Kraken Staking Coins
8. CoinSpot Staking
9. BlockFi
10. Nexo

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1. Swyftx Earn

Eligible coins	ETH, BTC, ATOM, SOL, DOT, 15+ More
Fees	No Fee
Rates from	Up to 101% APY
Earn yield on stablecoins?	Yes
Payout frequency	Daily

Australian-based crypto exchange Swyftx lets users earn interest on some of the top crypto assets to give cryptocurrency holders passive income while they show off their diamond hands. The Swyftx Earn feature, formerly known as Staking, has over 20+ crypto assets that users can earn interest on. 

They offer Earn on the most popular coins including ETH, BTC, ADA, SOL, ATOM, DOT, ALGO, KAVA and other DeFi markets. 

There are no fees associated with Swyftx’s Earn feature, and the minimum spend is AU$1 with no maximum currently. 

Swyftx users can earn up to 101% APY which is paid out daily. Swyftx is our top pick for earning interest on your crypto. 

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2. Zipmex Australia

Eligible coins	ZMT, BTC, ETH, USDC, USDT, SOL, LTC, XRP, ADA
Fees	Up to 0.2% trading fee
Rates from	6%
Earn yield on stablecoins?	Yes
Payout frequency	Daily

Zipmex is an established and regulated digital asset exchange with over 300,000 registered users across Australia, Singapore, Thailand and Indonesia.

You can earn daily interest on your digital assets such as BTC, ETH, LTC, USDC, USDT and more. Through ZipMex’s ZipUp+ offer, you can enjoy daily earnings of up to 7% on US dollar stablecoins and earn up to 10% on your crypto. 

To earn even higher interest on your crypto holdings you can join the ZipMex ZipLock program and earn 14% interest on Zipmex Token ZMT and up to 11% interest on US stablecoins. The Zipmex ZMT token is an ERC-20 traded digital asset native to Zipmex, where users can enjoy multiple benefits such as trading fee discounts, higher interest rates on earnings, and much more. 

All digital assets staked with Zipmex are insured with BitGo, which provides insurance of US$100M protection. 

The Zipmex mobile app is available to download through the Google Play store and Apple store. Watch the video below on how to participate and benefit from investing with Zipmex. 

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3. Crypto.com Earn

Eligible coins	ETH, BTC, CRO, USDC, AVAX, 35+ More
Fees	Up to 0.3%
Rates from	Up to 12%
Earn yield on stablecoins?	Yes
Payout frequency	Weekly

Crypto.com Earn offers an extensive number of supported tokens and coins, with 40+ cryptocurrencies and stablecoins available on their crypto staking platform. 

Through Crypto.com you can earn up to 14.5% on Polkadot (DOT); 14% p.a. on stablecoins including USD Coin (USDC), Tether (USDT), Dai, TrueUSD (TUSD), Paxo Standard (PAX); 8.5% p.a. on BTC and ETH; 6% p.a. on native token CRO, and 5% on many others including Litecoin (LTC), Cardano (ADA), Binance Coin (BNB), ChainLink (LINK), and even DogeCoin (DOGE) and Shiba Inu (SHIB). 

Calculate your earnings by visiting crypto.com and find out what interest your crypto could be making.

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4. Digital Surge

Eligible coins	ETH, BTC, LINK, SOL, AVAX, MATIC, AAVE
Fees	No Fee
Rates from	Up To 23%
Earn yield on stablecoins?	No
Payout frequency	Monthly

Digital Surge recently launched a staking feature that allows users to earn staking rewards that can be added to their crypto portfolio and crypto SMSF. 

Rewards are paid out on a daily and monthly basis, with no fees charged for opting in and out of staking. The staking process is simple with Digital Surge purchase any of their eligible crypto’s which include ADA, ATOM, DOT and 6+ more. Then add the purchased asset to your earn wallet. 

Digital Surge users can gain up to 23% APY on their staked crypto. 

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5. Binance Australia

Eligible coins	ADA, DOT, SOL, AVAX, 10+ More
Fees	0.1% trading fee
Rates from	Up to 75%
Earn yield on stablecoins?	Yes
Payout frequency	Daily

Binance Staking is dedicated to increasing user staking income offering people earn rewards by just by having their coins held on the exchange. Binance offers a variety of ways to stake crypto. 

Locked Staking: the process of holding funds in a crypto wallet to support the operations of a blockchain network. 

DeFi Staking: DeFi (Decentralised Finance) is a way of providing financial services to users through smart contracts. Existing DeFi projects aim to provide higher annualised earnings for specific currencies. 

The BNB Vault: As a BNB yield aggregator, BNB Vault will combine Flexible Savings, BNB DeFi Staking, and Launchpool to give you the best APY returns, up to 20%.

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6. Gemini Earn

Eligible coins	ETH, DOGE, USDC, XTZ, 40+ more
Fees	No Fees
Rates from	8.05% APY
Earn yield on stablecoins?	Yes
Payout frequency	Daily

Gemini Earn is a lending program through which you may choose to lend your crypto to certain institutional borrowers and earn interest on your crypto. 

On the Gemini platform, customers can view their combined trading balance and earn balance, as well as the interest they’ve earned. You can receive up to 7.4% APY on your cryptocurrency, which compounds daily against your crypto (including held stablecoins). 

To earn interest on your crypto with them, just open an account and purchase any amount of cryptocurrency, then opt-in to Gemini Earn program to start earning interest directly on your balance. 

Unlike many staking competitors, with Gemini you can redeem and move your cryptocurrency back to your trading account (plus interest) at any time. 

Watch the promo video for Gemini Earn: 

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7. Kraken Staking Coins

Eligible coins	ADA, ETH, ATOM, FLOW, KAVA, 10+ More
Fees	No Fees
Rates from	Up to 12% APY
Earn yield on stablecoins?	No
Payout frequency	Weekly

Kraken Staking Coins offers staking to earn money on your crypto, just buy assets to fund your Kraken account and choose from the assets that are eligible for staking. 

Kraken offers a wide range of cryptos for staking with a 20% return on KAVA, 12% returns for staking DOT and KSM, and 4-7% for ETH, SOL, ADA, ATOM and XTZ. Kraken also offers small annual percentage returns for others including BTC and USD. 

Visit Kraken.com to see all of the cryptocurrency coins they offer for staking, or watch the video to learn more: 

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8. Coinspot Staking 

Eligible coins	KAVA, MATIC, DOT, 19+ More
Fees	No Fee
Rates from	Up to 78% APY
Earn yield on stablecoins?	No
Payout frequency	Daily

Coinspot is an Australian exchange that launched their staking feature in 2021. Coinspot users can currently stake 22 eligible assets, with more stakeable asset being added over time. 

Some notable assets include ADA, AXS, AVAX and SOL. Coinspot’s staking feature offers up to 78% APY on certain cryptocurrencies. 

Coinspot have also announced plans to transition their staking feature to Earn, to make more assets available. 

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9. BlockFi

Eligible coins	BTC, ETH, ADA, SOL, +25 More
Fees	No Fees
Rates from	Up to 15% APY
Earn yield on stablecoins?	No
Payout frequency	Daily

BlockFi have a BlockFi Interest Account (BIA) offers earnings of up to 7.5% APY on your cryptocurrency. BlockFi claims to be available in Australia, although we have had reports with account problems outside of the U.S. 

The interest accrues daily and is paid monthly to your account as BlockFi aims to bridge the worlds of traditional finance and blockchain technology to bring financial empowerment to clients on a global scale.

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10. Nexo

Eligible coins	AXS, RUNE, DOT, MATIC, 6+ More
Fees	No Fee
Rates from	Up to 36% APY
Earn yield on stablecoins?	No
Payout frequency	Daily

Nexo is a website which offers you to earn up to 12% on your idle digital assets with interest paid out daily. 

Nexo offers 8% APR on top coins such as BTC, ETH, DOT, XRP, BNB, LTC, ADA, LINK and others. Holders of its native token NEXO and other stablecoins including USDT, DAI, USDX, USDC, HUSD, PAX can earn 12% APR. They have an interest calculator on their website to see how much interest you could be generating over a time period of 1 year. 

With Nexo your assets are insured up to $375 million by BitGo and Ledger. They also claim to have 2 million platform users worldwide. 

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11 Bonus. Finder Crypto Earn

Eligible coins	TAUD
Fees	No Fee
Rates from	Up to 6% APY
Earn yield on stablecoins?	No
Payout frequency	Daily

Last but not least is one of the best Australian-based comparison websites who have just launched support for cryptocurrencies on their Finder.com.au App.

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Is staking crypto safe? 

Staking crypto can be safe when done on a trusted platform, but there are still a number of risks that must be considered before you start earning. 

Lock-in periods 

By far the most common risk factor encountered by stakers are lock-in periods. Certain platforms or networks will require tokens to be staked for a set duration before they can be withdrawn. This leaves investors unable to react to market volatility. A staked coin could plummet in price and you would be able to do nothing to mitigate your losses. Not all cryptos require a lock-up period to be staked and this is something to look out for when choosing a platform. 

Illiquidity 

Obscure cryptocurrencies often come with very lucrative crypto staking rewards rates – sometimes over 100% per year. However, these digital assets often have low market liquidity. It may take weeks (or longer) to convert any accrued coins into fiat or other cryptocurrencies. Earning a lot on a coin that can’t be traded is almost the same as earning nothing. Staking coins with low liquidity can also leave investors susceptible to rug pull scams. 

Slashing 

Slashing is a protection mechanism put in place by blockchain networks to prevent node operators (validators) from misbehaving – either intentionally or mistakenly. Node operators are responsible for organising a “pool” of staked tokens and ensuring they are running at 100% efficiency. If the validator’s node doesn’t abide by the blockchain’s rules, they will be penalised. The most extreme penalty is known as slashing. If your tokens are delegated to a validator who is slashed, there’s a chance your tokens will be completely lost.  

Smart contract bugs 

Staking tokens involves locking them up in a smart contract on an associated blockchain. Smart contracts are still relatively new technology and can be prone to bugs or holes. Experienced hackers or coders can occasionally exploit these bugs and steal the tokens being staked on a network.

Is staking profitable?

Staking cryptocurrency can be profitable, although not without its risks. It can be a great way to earn passive income atop otherwise idle assets. It’s an especially solid strategy for long-term investors who are unlikely to actively trade their assets regardless of market movement.  

However, staking can actually result in significant losses if there’s a significant lock-up period. For example, say you were staking a token at 20% APY for a 3-month period. Ten weeks in, the market for this token crashes and it drops 50% over the next fortnight. Even though you’re passively accruing interest, you will still have incurred a substantial loss due to the lock-in period. 

Mining vs staking

Mining (proof of work) 

Mining was the very first technology associated with cryptocurrency and forms the foundation of how Bitcoin actually works. Mining involves high-powered computers competing to solve increasingly complex mathematical algorithms. 

As mining has become more saturated, the amount of power required to solve these equations has exponentially grown. This has resulted in Proof-of-Work blockchains requiring exorbitant amounts of electricity to operate effectively. Mining has come under fire as of late due to its negative impact on the environment, and many cryptocurrencies are phasing it out. 

Staking (Proof of Stake) 

Proof-of-Stake is beginning to overtake mining as the primary technology of modern blockchains. Instead of solving complex math equations, validators are simply required to lock-up a certain number of tokens on a blockchain. The blockchain will then select a validator to execute the next transaction depending on how many tokens they’ve staked, among other factors. When a validator is chosen, they will receive additional cryptocurrency as a reward. 

Proof-of-stake requires less electricity than mining, is far more sustainable, and its lower requirements to operate make it easier to decentralize.

Is crypto staking taxed in Australia?

Yes, crypto staking is taxed in Australia. However, unlike gains made from trading small amounts of cryptocurrency, earnings from staking are not taxed as a Capital Gains event. Instead, they are viewed as income, and will be taxed according to your income bracket. 

When you stake, you will generally receive income in the form of cryptocurrency, not cash. This means you have to work the relative value of your staking rewards when it comes to tax time. 

If, however, you decide to sell the new crypto you have received as rewards, this triggers a capital gains event.  If the price of the crypto you earned through staking increases, then this is a capital gain. Once disposed of, this will then be added to your other sources of income to form your total assessable income and is taxed at individual tax rates. 

Flexible vs locked staking 

There are two different types of staking: flexible vs locked staking. Both are viable options depending on your personal investment strategy. 

Flexible staking 

Flexible staking involves staking your tokens without a lock-in period. Generally, you can withdraw your principal investment plus rewards at any given time. This is optimal for active traders, or those looking to mitigate risk in case of market volatility. 

Locked staking 

Locked staking involves putting your coins into a smart contract for a set duration. Staking platforms will often let you choose between different timeframes, such as 3 months, 6 months, or a year. In that sense, locked staking is a bit like a term deposit. The greater the locking duration, the greater the interest rate on offer. Locked staking is riskier as investors aren’t able to trade alongside the market. However, long-term holders of crypto may prefer the superior rates of locked staking. 

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Conclusions

Staking your crypto held with third-parties is risky and your capital is at risk as a result or not controlling your private keys. The main questions to ask yourself are: If you’re not staking and earning rewards, are you leaving money on the table? How risky is crypto staking? Can you lose your coins? How long will staking rewards last with high percentage returns? 

To get started with crypto staking, all you need to do is buy and hold your coins with one of the third parties listed above. They will then add them to a service or mining pool that provides market liquidity, and in return you will earn a small interest. The realised profits you gain from staking are determined by what provider you choose, what digital asset you invest in, how much you hold, and for how long.