Staking on CoinSpot

Staking is here!

Staking is an easy way for CoinSpot members to grow their holdings while also participating in the consensus and governance of your favourite Blockchains.

Important Update!

Please note that Staking will be transitioned to Earn in the near future. You will not be able to create any new Staking positions.

For more information surrounding the Earn Program, please refer to the following article - https://coinspot.zendesk.com/hc/en-us/articles/4723564393359-CoinSpot-Earn-FAQ

What is in this article?

• Staking your coins
• Compound Staking

Staking involves holding your Proof of Stake (PoS) coins in a Staking wallet supplied by CoinSpot. After a certain period of time, you will receive staking rewards depending on the amount of coins you have placed in your staking wallet and the amount of time they have been there. Simply put, staking is locking up some of your PoS coins in order to receive rewards.

We have provided users with a step by step explanation of how to Stake on CoinSpot below.

Staking your coins

1. First, select the 'Wallet page' on the top of your Dashboard.

                                                  Figure 1. Staking - (Locating the Wallets page)

2. Navigate to the Coin you wish to Stake and open the wallet up.

                                                  Figure 2. Staking - (Example - Staking ADA)

Staking your coin

3. Select 'Staking' on the left hand side, then enter the amount of coin you wish to stake, then select 'Stake all available' and ‘Stake’ button. You may wish to auto circulate your rewards by ticking the box below the value entry. 

                                                  Figure 3. Staking - (Staking Page)

4. Once you click the ‘Stake’ button the confirmation screen will appear. 

                                                  Figure 4. Staking - (Final Review)

Compound Staking

Tick the box under the amount entry of the coin you wish to stake. Once the box is checked, the automatic circulation will last until you stop staking.

Automatically Re-staking Rewards

If you have rewards from staking and wish to utilise the Automatic Re-staking feature, select Stake all available⁽¹⁾ > Tick the checkbox Automatically re-stake my rewards⁽²⁾ then select Edit Amount⁽³⁾.

                                                  Figure 5. Staking - (Automatic Re-staking Rewards)

Automatically Re-staking Balance

If you are already staking your full balance and wish to utilise the Automatic Re-staking feature, you will need to Unstake your coins.

                                                  Figure 6. Staking - (Unstaking)

To automatically Re-stake your Unstaked coins, Select Stake all available⁽¹⁾ > Tick the checkbox Automatically re-stake my rewards⁽²⁾ > Then select Stake⁽³⁾.

                                                  Figure 7. Staking - (Automatic Re-staking Holdings)

Congratulations! You have just Staked some of your ADA!

You can see your approximate payout amount, the rate of return and more information on the staking page of your wallet.

Looking to stake other coins? No problem! Here is a list of all the coins on CoinSpot available for staking:

• (ADA) Cardano
• (ALGO) Algorand
• (ATOM) Cosmos
• (AVAX) Avalanche
• (AXS) Axie Infinity
• (BNB) BNB
• (CRO) Cronos
• (DOT) Polkadot
• (EGLD) Elrond Gold
• (FLOW) Flow
• (FTM) Fantom
• (KAVA) Kava
• (KSM) Kusama
• (LUNC) Terra Luna Classic
• (MATIC) Polygon
• (ONE) Harmony
• (SOL) Solana
• (TRX) TRON
• (VRA) Verasity
• (WAN) Wanchain
• (XTZ) Tezos
• (ZIL) Zilliqa

Need more help?

Please submit your request via Zendesk - https://coinspot.zendesk.com/hc/en-us/requests/new

or start a conversation with us via Live Chat and our team will provide full instructions and advice.