7 Ways You Can Stake Crypto In Singapore

How To Stake Crypto In Singapore
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Staking your cryptocurrency for higher yields is getting more popular these days.

However, it can be pretty complicated to do it on your own!

There are some platforms that help you with this process. All you need to do is to send your crypto to them to start staking.

So how do you go about staking your crypto in Singapore?

Here’s what you need to know.

How to stake crypto in Singapore

Here are 7 ways you can stake your crypto from Singapore:

  1. Binance Stake
  2. Kraken
  3. Crypto.com Exchange
  4. Trust Wallet
  5. Exodus Wallet
  6. Moonstake
  7. Unagii

Binance Stake

Binance is one of the leading cryptocurrency platforms in the world.

It allows you to trade many different cryptocurrencies, which is why it’s one of the best platforms to buy certain altcoins.

Moreover, you can stake some of them as well!

How to stake crypto on Binance

Here’s what you need to do to stake crypto on Binance:

  1. Go to ‘Finance → Binance Earn’
  2. Go to ‘Fixed Terms → Staking’
  3. Select the cryptocurrency that you wish to stake
  4. Select the duration and amount you wish to stake

#1 Go to ‘Finance → Binance Earn’

On the Binance platform, you’ll need to go to ‘Finance → Binance Earn‘.

Binance Earn Option

#2 Go to ‘Fixed Terms → Staking’

There are quite a few options that you can earn rewards on your crypto.

Binance Earn Methods

If you are looking to stake your crypto, you can scroll down to ‘Fixed Terms‘, and then click on Staking.

Binance Fixed Term Staking

There are many more currencies that you can stake with Binance (around 50+).

#3 Select the cryptocurrency that you wish to stake

On the ‘Locked Staking‘ page, you can see the currencies that you can stake.

Binance Locked Staking Platform

You can click on ‘Expand All’ to view all the possible currencies you can stake.

Binance Locked Staking Platform More Currencies

You may be familiar with some of these currencies:

  1. Polkadot (DOT)
  2. ADA
  3. EOS
  4. ATOM

You aren’t able to stake some of the common currencies like BTC or ETH.

#4 Select the duration and amount you wish to stake

After selecting the currency you wish to stake, you’ll need to select 2 more things:

  1. The lock-in period
  2. The amount you wish to stake
Binance Stake ADA

The lock-in period depends on the currency. There are some that even offer you a 7 or 15 day period.

Binance also shows you the minimum amount of that currency you need before you can stake the token. However, the amount is usually rather small.

After selecting your options, you can now start to stake your coins!

The interest will be paid out at the end of the lock-in period.

Verdict

Binance is a great platform to own a wide variety of coins.

Moreover, you are able to stake over 50 currencies on the platform, which is one of the highest!

However, there is a fixed lock-in period where you can’t access your coins. If you are a frequent trader, you might not want to lock-in your coins for such long periods of time.

If you are willing to take even more risks, you can try DeFi staking too. This gives you rather high yields on your crypto.

Binance DeFi Staking Platform

However, it is really risky and you may lose all of your funds!

As such, you should only use the DeFi staking if you are fully aware of the risks.

Kraken

Kraken is another exchange platform that allows you to stake your crypto too.

There are 7 assets that you can stake on Kraken:

  1. DOT
  2. KSM
  3. KAVA
  4. ATOM
  5. XTZ
  6. FLOW
  7. ETH
Kraken Staking Tokens

Here’s what you need to do to stake your crypto on Kraken:

  1. Send your cryptocurrency to Kraken
  2. Go to the ‘Staking’ tab
  3. Select the amount to stake

#1 Send your cryptocurrency to Kraken

Since Kraken does not support SGD, you’ll have to send your cryptocurrency to the platform instead.

You can go to the ‘Funding’ tab,

Kraken Funding Tab 1

and select the crypto you wish to deposit.

The good thing about Kraken is that it is an exchange platform. If you only have BTC now, you can still trade it to the currency that you wish to stake.

#2 Go to the ‘Staking’ tab

After that, you’ll need to go to the ‘Staking’ tab on Kraken’s platform to access their staking feature.

Kraken Staking Tab

You can see the tokens you can stake, as well as the rewards you’ll receive.

Kraken Staking Tokens

#3 Select the amount to stake

The last part would be to select the quantity of your tokens you wish to stake.

Once you’ve staked your tokens, you will be able to start receiving rewards!

Verdict

One of the good things about Kraken is that it allows you to earn your rewards up to twice a week. This is much faster compared to other platforms!

If you are using Kraken to trade your currencies, then you can start to stake them along the way as well.

Crypto.com Exchange

Crypto.com Exchange only allows you to stake CRO tokens. You are able to earn a pretty decent rate of 10% APR.

However, you will need to deposit a minimum of 5,000 CRO to earn this interest!

How to stake crypto on Crypto.com

Here’s what you need to do to stake your CRO on Crypto.com:

  1. Transfer CRO from the App to Exchange
  2. Go to Stake and Earn
  3. Select the amount of CRO to stake

#1 Transfer CRO from the App to Exchange

To start staking CRO on the Exchange platform, you’ll need to transfer it from the app first.

If you are looking to buy CRO, you are able to do so directly from your SGD Xfers wallet.

The transfer between the app and the exchange platforms is free.

On the currency’s page, you’ll need to go to ‘Transfer‘,

Crypto.com App Transfer To Exchange

click on ‘Withdraw‘,

Crypto.com App Withdraw

and then tap on ‘Crypto.com Exchange‘.

Crypto.com App Transfer To Crypto.com Exchange

After selecting the amount, the CRO will be deposited in your Exchange account.

Crypto.com Transfer Funds To Exchange

#2 Go to Stake and Earn

Once you have sent over your CRO, you can start to stake it.

You’ll need to go to the ‘Stake & Earn‘ tab on the Exchange platform.

Crypto.com Exchange Platform Stake and Earn

The Crypto.com App and Exchange are 2 different platforms. Even though you’ve created an account for the App, you’ll still need to create an account for the Exchange too.

#3 Select the amount of CRO to stake

Once you’re there, you can click on the Stake CRO button.

Crypto.com Stake CRO

After that, you’ll need to select the amount of CRO that you wish to stake.

Crypto.com Exchange Select CRO Stake

You will need to stake a minimum of 5,000 CRO to be able to receive the 10% reward!

Once you’ve staked your CRO, you are able to start earning daily payouts from it.

Verdict

Crypto.com’s staking program is only available for CRO, so it’s really limited.

If you want to earn interest on other currencies on Crypto.com, you can consider Crypto.com Earn instead.

Moreover, you need to lock-in your CRO for at least 180 days, which is really long!

I would only suggest this method if you are optimistic that the entire Crypto.com ecosystem will improve further in the future.

Trust Wallet

Trust Wallet is another option that you can use to stake your crypto. This is a custodial wallet that is on your phone.

You will be given a 12-word secret phrase that is used to create your personal wallet.

Trust Wallet Secret Phrase

If you lose this phrase, your wallet will be lost forever!

How to stake crypto on Trust Wallet

Here’s what you need to do to stake your crypto on Trust Wallet:

  1. Receive crypto or buy it on Trust Wallet
  2. Go to the currency’s page and got to ‘More → Stake’
  3. Select the amount to stake and the validator
  4. Stake your crypto

#1 Receive crypto or buy it on Trust Wallet

To start staking crypto, you’ll first need to have crypto on the Trust Wallet.

You can either send crypto from another platform, or buy it directly on Trust Wallet.

However, there are only 6 currencies that you can stake on Trust Wallet:

  1. KAVA
  2. ALGO
  3. BNB
  4. XTZ
  5. ATOM
  6. TRX
Trust Wallet Staking Currencies

As such, the options are pretty limited.

#2 Go to the currency’s page and got to ‘More → Stake’

Once you have the currency you wish to stake, you’ll need to go to the currency’s page.

Trust Wallet TRX Page

After that, you’ll need to tap on ‘More → Stake’.

#3 Select the amount to stake and the validator

After that, you’ll need to select the amount of currency you wish to stake,

Trust Wallet Stake Tron Select Amount

as well as the validator network.

Trust Wallet Select Validator Network

#4 Stake your crypto

You’ll see the network fee you’ll need to pay, before you start to stake your crypto.

Trust Wallet Confirm Stake

Verdict

Trust Wallet only allows you to stake 6 cryptocurrencies, so the options are really limited.

The lock-in period is rather short, so it is slightly more flexible than Binance.

If you own these 6 currencies and are looking to earn some rewards, then you can consider this method.

Exodus Wallet

Similar to Trust Wallet, Exodus is another custodial wallet where you can store your crypto on.

It also offers you staking options for these 7 currencies:

  1. ALGO
  2. ATOM
  3. ADA
  4. XTZ
  5. ONT
  6. VET
  7. NEO
Exodus Wallet Staking Currencies 1

How to stake crypto on Exodus

Here’s what you need to do to stake your crypto on Exodus (I will be using ADA for this example):

  1. Send your crypto to Exodus
  2. Tap on the medal icon at the top right hand corner
  3. Stake your crypto

#1 Send your crypto to Exodus

Similar to Trust Wallet, you’ll need to send your crypto to your Exodus wallet first.

Exodus Wallet Receive Cardano

You can send your crypto from another platform to this wallet. Don’t forget to make sure that the address is exactly the same!

#2 Tap on the medal icon at the top right hand corner

After sending your crypto over, you’ll need to go to the page of your preferred currency.

Exodus Wallet Cardano Page

There is a medal icon on the top right hand corner. You’ll need to tap on that icon.

#3 Stake your crypto

You’ll be taken to a confirmation page to stake your crypto.

Exodus Wallet Confirm Staking

After which, you will be notified that your crypto has been staked.

Exodus Wallet Staked Cardano

You can choose to unstake your crypto at any time.

Verdict

Exodus Wallet also has quite a limited number of currencies that you stake on their platform. As such, it may only be useful if you already own those few currencies already.

There are no fees, except for the network fees that you need to pay when sending your crypto to another platform.

This will eat up some of your returns if you want to sell your crypto.

Moonstake

Moonstake is another custodial wallet, just like Trust Wallet and Exodus Wallet.

It’s headquarters are in Singapore too.

There are 9 different currencies that you can stake on their platform:

  1. ATOM
  2. ADA
  3. ONE
  4. IRIS
  5. ONT
  6. XTZ
  7. QTUM
  8. DOT
  9. CENNZ
Moonstake Cryptocurrencies For Staking

Here’s what you need to do to start staking on Moonstake:

  1. Create a new wallet
  2. Receive crypto on Moonstake
  3. Stake the currency

#1 Create a new wallet

When you first create your Moonstake account, you’ll need to create a new wallet first.

Moonstake Create New Wallet

This is another custodial wallet, which mean you are in full control of your assets. If someone gets hold of the passphrase, they will have access to your assets too!

#2 Receive crypto on Moonstake

After you’re done, you’ll need to send your cryptocurrency to Moonstake.

You can do this by going to the currency’s page and click on ‘Receive‘.

Moonstake Receive Currency

#3 Stake the currency

After sending your currency over, you can now start to stake them.

Most currencies have a minimum amount, which depends on the currency:

CurrencyMinimum
ADA5
COSMOSNA
ONE1,000
IRISNA
ONT1
XTZ1
QTUM100
DOT1
CENNZ10,000

Some currencies have a lock-in period too, which is a maximum of 28 days.

Once you have the minimum amount of currency, you can start to stake it on Moonstake.

Moonstake Stake ADA

Verdict

Moonstake offers slightly more currencies compared to Exodus or Trust Wallet.

However, they do have minimum amounts which you need to hit, before you can start staking your crypto on this platform.

Unagii

Unagii is another platform that was founded in Singapore. Their aim is to provide retail investors like us with access to DeFi yields.

However, this platform can be rather complicated to understand, especially if you’ve just started investing in crypto.

You can earn staking rewards for these 6 tokens:

  1. ATOM
  2. KAVA
  3. BAND
  4. LUNA
  5. IOV
  6. SWTH
Unagii Stake Yields

To start earning staking rewards with these tokens, you’ll need to connect different wallets, such as:

  1. Ledger
  2. Keystation
  3. Keplr

This will allow you to send and receive your currencies between your wallet and Unagii.

Unagii Send And Receive Crypto To Wallet

After connecting your wallet, you can start staking your crypto.

You can see the projected yields, as well as the rewards that you can claim.

Unagii Rewards Platform

Verdict

Unagii is a good platform if you own these currencies and want to earn a higher yield. However, you will need an external wallet like Ledger to send and receive crypto.

Furthermore, the currencies that you can earn yields on are rather limited.

If you do not want to have an external wallet, then this platform may not really be suitable for you.

As such, Unagii may only appeal to a certain niche of crypto investors.

Conclusion

Staking crypto is an alternative way of earning an extra yield on your crypto assets.

Instead of lending your assets to another institution, you are locking up your assets in the network to receive rewards.

In the end, either strategy will help you to earn some returns on the crypto that you own!

There are 3 main ways that you can stake your crypto in:

  1. Exchange platforms
  2. Custodial wallets
  3. Staking platforms

In the end, the product that you choose may depend on:

  1. The currency you want to stake
  2. The yield you’ll receive
  3. The minimum amount you need to stake

Binance Referral (Receive 5% off your trading fees)

If you are interested in signing up for a Binance account, you can use my referral link.

You will be able to receive 5% off all of your trading fees on Binance!

Crypto.com Exchange Referral (Earn $10 USD- $50 USD in CRO)

If you are interested in creating a Crypto.com Exchange account, you can use my referral link.

Depending on the amount of CRO you stake on the Crypto.com Exchange, you are able to earn between USD $10 to USD $50!

Crypto.com Exchange Referral

Here are the amounts that you’ll need to stake to receive the bonuses:

Amount of
CRO Staked
Referral Bonus
You Receive
1,000 – 4,999 CRO$10
≥ 5,000 CRO$50

If you’ve already signed up for the Crypto.com app, you can still sign up for this bonus! This is because the Crypto.com App and Exchange are 2 different platforms.

You can read more about this referral program on Crypto.com’s website.


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