5 Best Crypto Staking Platforms In Australia (Feb 2024)

June 21, 2022
Blog

As a long-time crypto aficionado, I constantly keep up with the latest and greatest crypto-staking platforms coming out every day, always looking for the lowest fees and best features. As a long-time crypto investor who knows the landscape of Australian crypto platforms extremely well, I’m confident these recommendations are currently the best staking platforms available for Aussies.

Overall, our top pick for crypto staking platforms is AQRU: it supports 5 cryptocurrencies and offers solid annual interest rates for both stablecoins (12%) and non-stablecoins (7%). Crypto deposits are approved in less than 20 minutes and it's one of the few platforms to offer full insurance; for those reasons, I can't recommend AQRU enough.

Here’s something you may not realize: the crypto-staking platform you choose matters. Your choice will impact how profitable your trades are, and can be the difference between making a good investment – and making a huge profit -and missing out on investment opportunities because you chose to lock your crypto assets in a low-yielding staking platform that now wants to charge you for withdrawing early.

So if you’re looking for a safe and secure Australian staking platform that’s easy to use and won’t leave you stranded, you’ve come to the right place. I’ve been investing in crypto for over 8 years now, and I make tweaks to the list below almost every day.

Without further ado, here’s my list of the best crypto-staking platforms Australia has to offer.

Why you should trust me

  • Experienced
    I bought my first cryptocurrency (Bitcoin) in 2013, bought Ethereum in 2017, and have held active accounts with at least 5 exchanges since 2018.
  • Unbiased
    All of my selections are supported by multiple data points, including crypto thought leaders, security experts, and TrustPilot reviews.
  • Deep Research
    My team and I spent more than 100 hours researching exchanges before choosing our top picks, and we update them almost daily as the industry continues to change.

1. AQRU

Founded in 2019, AQRU is a crypto-staking platform that relies on decentralized, yield-farming protocols to generate interest for its users. AQRU acts as a custodian of crypto assets and is secured through the Fireblocks Network, an MPC-based wallet infrastructure. 

AQRU supports five different cryptocurrencies: three stablecoins, USDC, USDT, and DAI, and two non-stablecoins, BTC and ETH. Based on whichever you deposit you will receive a different annual interest rate; for stablecoins, the rate is 12%, and for non-stablecoins 7%. Interests are paid out daily.

AQRU doesn’t charge any fees for depositing fiat or crypto, but there is a $100 minimum for both. Fiat withdrawals are also free, and crypto withdrawals incur a flat $20 fee. In terms of security, AQRU offers an insurance pool of $30 million to its users, in the event of any hack or security breach.

Features

  • Stablecoins: 12% annual interest
  • Non-stablecoins: 7% annual interest 
  • Crypto deposits approved in 20 minutes
  • Multi-Layer Insurance
  • Interests are paid daily
  • $30 million insurance pool
  • Supports 5 cryptocurrencies

Cost

  • Withdrawal Fees (Crypto): $20 (flat fee)
  • Withdrawal Fees (Fiat): Free
  • Transfer Fees (Crypto): Free
  • Transfer Fees (Fiat): Free
  • Bank Wire Fees: Free

Signup Bonus

10 USDT signup bonus

Best For

Investors looking for an established staking platform with high-interest rates and insurance.

2.  Swyftx

Swyftx was founded in 2018 by Angus Goldman and Alex Harper. Registered and regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC), Swyftx is both a crypto exchange and also a staking platform for certain cryptocurrencies.

Swyftx supports 16 cryptocurrencies, including Cardano (ADA), Solana (SOL), Cosmos (ATOM), and Polkadot (DOT). Interest rates users can earn depends on the crypto they’re staking, with annual rates ranging anywhere from 5.12% (on Bitcoin) to 101.24% on (Axie Infinity). One thing users appreciate about Swyftx’s staking platform is that there’s no lock-up period, which means you can stake and withdraw your assets at any time with no penalty.

Staking rewards are paid out daily directly into the Swyftx Trading Wallet in the same currency that you’ve staked.

Features

  • Up to 23% annual interest on select cryptos
  • Available on mobile and desktop
  • Supports 16 cryptocurrencies
  • Two-Factor Authentication
  • TradingView charts
  • Real-time data

Cost

  • Trading Fees: 0.6% (high volume discounts apply)
  • Spreads: 0.41%
  • Staking Fees: Free
  • Deposit Fees (Fiat): Free
  • Withdrawal Fees (Fiat): Free ($100k AUD max.)
  • Deposit Fees (Crypto): Free (network mining fees may apply)
  • Withdrawal Fees (Crypto): Free (network mining fees may apply)

Best For

Investors looking to stake crypto assets.

3. Crypto.com

Crypto.com is a crypto exchange and DeFi crypto-services provider. Its staking platform supports 50+ of the largest cryptocurrencies, including BTC, ETH, LTC, and XRP. Staking rewards, or interests, are calculated daily and paid out weekly in the same staked currency.

Crypto.com’s interest rate system is complex to calculate, but it can be boiled down to two key factors: the lock-up term of the stake, which can be Flexible, 1-month, or 3-Month, and the amount of CRO the user is holding, in AUD: less than $500, less than $50.000, and over $50,000. The highest interest rates are awarded to the longer terms and the higher CRO stakes.

In terms of security, Crypto.com uses Multi-Factor Authentication (MFA) in combination with whitelisting and constant monitoring to ensure compliance with all security measures. Additionally, all deposits are held safely in cold storage.

Features

  • Stablecoins: 10% annual interest
  • Non-stablecoins: Up to 14.5% annual interest
  • Interests are calculated daily, paid out weekly
  • Crypto deposits approved in 20 minutes
  • Supports 50+ cryptocurrencies
  • Multi-Layer Insurance

Cost

  • Maker Fees: From 0.40% to 0.15% (based on volume)
  • Taker Fees: From 0.40% to 0.15% (based on volume)
  • Deposit Fees: Free
  • Withdrawal Fees: Depends on the coin (0.0001 BTC for Bitcoin)

Signup Bonus

$25 signup bonus

Best For

Investors looking for a highly secure crypto staking platform.

4. Coinbase

Founded in 2012, Coinbase is an American cryptocurrency exchange and crypto services provider based in San Francisco. It’s one of the oldest crypto exchanges in the world, and among its crypto services is a staking platform for select crypto.

Coinbase supports six cryptocurrencies in its staking platform, including Ethereum (ETH), Tezos (XTZ), Cosmos (ATOM), and USDC. In Australia, however, only ATOM and XTZ are available. The minimum staking amount for both is 0.0001 coins, and the annual interest rates for ATOM and XTZ are 5% and 4.63% respectively. 

Coinbase doesn’t charge any deposit or subscription fee; instead, it takes a percentage of the monthly yield generated by the user’s staked crypto, as operational costs. The percentage is a flat 25%, which may seem high but it's the industry standard. Coinbase is one of the few SEC-regulated and NASDAQ-listed crypto companies.

Features

  • Non-stablecoins: From 4% to 5% annual interest
  • Stablecoins: 2% annual interest
  • Two-Factor Authentication
  • Supports 6 cryptocurrencies
  • Staking rewards paid out weekly
  • Annual interests ranging from 1-5%
  • Compatibility with the Coinbase crypto wallet
  • Rewards paid out in the same cryptocurrency staked

Cost

  • Staking Fee: 25% of the monthly yield
  • Debit/Credit Card Deposit Fee: 2.49%
  • Taker’s Fee: From 0.04% to 0.50%
  • Maker’s Fee: From 0.04% to 0.50% 

Signup Bonus

$10 signup bonus

Best For

Investors looking for an established crypto staking platform.

5. eToro

eToro is one of the largest crypto exchanges in the world with offices in Cyprus, Australia, the UK and the US. In 2020 it released a staking platform, which enables users to stake three different cryptocurrencies: Cardano (ADA), Tron (TRX), and Ether (ETH). Staking ETH is currently not available in Australia. 

eToro doesn’t charge any deposit or subscription fee; instead, it takes a percentage of the monthly yield generated by the user's staked crypto, as operational costs. The percentage taken is based on a tier system: the fees for the bronze, gold, and diamond tiers are 25%, 15%, and 10% of the total yield generated in the last 30 days. 

Interest rates are calculated using a daily average from the last 30 days and are paid out monthly, directly to the user's eToro wallet. Keep in mind that to qualify for staking rewards you have to hold an open position of the crypto asset for at least 7 days.

Features

  • Supports 2 cryptocurrencies
  • Staking rewards paid out monthly
  • Full compatibility with the eToro wallet
  • Reduced fees based on Membership tiers
  • Rewards paid out in the same cryptocurrency staked

Cost

  • Staking Fee (Based on tier): From 25% to 10% of the monthly yield
  • Trading Fees: From 0.75% to 2.90%
  • Spreads: From 0.75% to 5.00%
  • Account Opening Fee: $10

Best For

Investors looking for a staking platform that supports Cardano (ADA) and Tron (TRX).

In Summary

As a long-time crypto aficionado, I constantly keep up with the latest and greatest crypto-staking platforms coming out every day, always looking for the lowest fees and best features. As a long-time crypto investor, I’m confident these recommendations are currently the best staking platforms available for Aussies.

Overall, our top pick for crypto staking platforms is AQRU: it supports 5 cryptocurrencies and offers solid annual interest rates for both stablecoins (12%) and non-stablecoins (7%). Crypto deposits are approved in less than 20 minutes and it's one of the few platforms that offer full insurance; for those reasons, I can't recommend AQRU enough.

Crypto Staking In Australia FAQs

Is it legal to buy and trade crypto in Australia?

Yes, cryptocurrency is legal in Australia, and you can buy, sell and use crypto without breaking any laws. However, cryptocurrency is not currently considered legal tender in Australia, and the Australian government shows no indication of accepting it as such any time soon.

You can buy and trade crypto in Australia using crypto exchanges like VirgoCX, Binance and Coinbase, but the best-rated exchange is Zengo.

Is crypto trading taxable in Australia?

Yes, crypto trading is taxable in Australia. Even though the Australian Tax Office (ATO) doesn’t consider crypto as money, it is regarded as property, a CGT asset for all tax purposes. When a capital gain or loss is realized from cryptocurrency, the market value of the asset, in AUD, is used to calculate the tax. 

Are crypto-staking platforms regulated in Australia?

Yes, cryptocurrency, digital currencies, and staking platforms are all legal and well-regulated in Australia. The sale of crypto assets is regulated by Australia's Financial Services Regulatory Regime.

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