8 Ways You Can ‘Stake’ USDT

You’ve just bought some USDT tokens and may be looking to stake them to earn more USDT.

However, USDT is not a Proof of Stake token, so you technically aren’t able to stake USDT tokens to earn rewards!

Instead, there are some platforms that allow you to lend out your USDT tokens to earn interest instead.

Can you stake USDT?

You are unable to stake USDT as it is a native ERC20 token, which follows a proof-of-work consensus and not a proof-of-stake. However, it is possible for you to earn extra USDT by lending out your USDT for higher interest.

How to ‘stake’ USDT

Here are 8 ways you can ‘stake’ your USDT tokens:

1. Celsius
2. Nexo
3. Crypto.com
4. Binance Earn
5. AAX
6. Blockfi
7. Hodlnaut
8. Midas

This is a summary of all of the methods,

Platform	Minimum Deposit	Lock-In Period
Celsius	None	Flexible
Nexo	None	Flexible
Crypto.com	250 USDT	Flexible, 1 / 3 months
Binance	1 USDT	Flexible
AAX	10 – 100 USDT	Flexible, 7 / 14 / 30 days
Blockfi	None	None
Hodlnaut	None	None
Midas	None	None

and here is each method explained in-depth:

Celsius

Celsius was founded in 2017 and is headquartered in New York. Here’s how you can start earning interest on this platform:

Go to ‘Menu → Transfer’ on Celsius

When you’re on the Celsius app, you would need to go to the Celsius menu and tap on ‘Transfer‘.

Select USDT from the dropdown menu

When you’re on this screen, you’ll need to select USDT as the currency that you wish to transfer into Celsius.

Copy the USDT deposit address from the Celsius app

After you select a currency, you will be given a wallet address. Celsius will give you a warning that they only accept ERC20 deposits of USDT.

This is because you can send USDT via multiple networks, such as the Binance Smart Chain or SOL. It is such a waste as these networks can help to reduce the fees when you are transferring USDT!

After selecting ‘I Understand‘, you will be shown the USDT deposit address which you can copy to the platform that you’re withdrawing from.

Your wallet address is one long string of letters and numbers. It is very important that you copy it letter by letter! If you make any mistake in the wallet address, your crypto will be lost forever!

As such, the best way will be to copy your wallet address directly.

If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.

This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!

After you’ve deposited USDT to Celsius, you will start earning interest on it.

Verdict

Here are some of the key features when you’re earning interest from Celsius:

Minimum Deposit	None
Lock-Up Period	None

Celsius is a flexible way to earn interest on USDT. Moreover, withdrawals from Celsius are free, which helps you to save a lot on fees!

As such, Celsius is a great platform to consider if you have a small sum of USDT.

Nexo

Nexo is another platform where you can earn interest on USDT.

You can view my guide on how to send USDT to Nexo.

Verdict

Here are some of the key features when you’re earning interest from Nexo:

Minimum Deposit	None
Lock-Up Period	None

Similar to Celsius, you are able to earn interest on USDT with no minimum deposit.

Crypto.com

Crypto.com was founded in June 2016. They are based in Hong Kong, and serves over 10 million customers.

Here’s how you can earn interest on USDT on their app:

Go to ‘Earn’ on the Crypto.com App

To start lending your crypto, you will need to go to the ‘Earn’ tab.

Select the ‘+’ sign and select USDT as the currency you want to lend

After that, you’ll need to select the ‘+’ sign on Crypto Earn,

and then select USDT as the currency that you wish to deposit.

Select the term that you wish to lend USDT

After that, you will need to select the term that you wish to lend out USDT.

There are 3 different terms:

1. Flexible
2. 1 Month
3. 3 Months

For the flexible term, you are able to withdraw USDT at any time. However, the interest that you earn is much lower.

If you choose either the 1 month or 3 month term, the USDT that you deposit will be locked up for that period of time.

Even if the price of USDT starts to change, you will be unable to sell it!

However, the benefit is that you will be able to earn a higher interest compared to the flexible term.

Another factor that affects the interest that you earn is the amount of CRO that you staked on the Crypto.com App:

Term	Interest Rate
Flexible (Ruby or Lower)	6%
Flexible (Jade Green or Higher)	8%
1 Month (Ruby or Lower)	8%
1 Month (Jade Green or Higher)	10%
3 Months (Ruby or Lower)	10%
3 Months (Jade Green or Higher)	12%

The amount of CRO that you stake depends on which Crypto.com Visa card you wish to own.

If you own the Ruby Steel card, you will be able to receive a CRO rebate if you use the Crypto.com Visa card to pay for Spotify!

Agree to the terms and conditions of Crypto.com Earn

There are certain Terms and Conditions that you’ll need to accept.

By accepting the Earn and Credit T&Cs, you are accepting the risks involved with lending your crypto. There could be a risk that you will lose all of your cryptocurrency if Crypto.com closes down as well!

Select the amount of USDT that you wish to lend out

The last part is that you’ll need to select the amount of USDT that you wish to deposit to Crypto.com Earn.

You are required to deposit a minimum of 250 USDT to use this feature. This is quite a huge sum, and you are unable to deposit any sum that is smaller than that!

After confirming your deposit, you will reach this confirmation page.

Verdict

Here are some of the key features when you’re earning interest from Crypto.com:

Minimum Deposit	250 USDT
Lock-Up Period	Flexible, 1 / 3 months

You are able to choose the lock-up period, depending on the flexibility you wish to have with your USDT funds.

However, the shorter the term, the lower the interest you’ll receive!

Moreover, Crypto.com requires quite a large minimum deposit of 250 USDT, which can be quite a huge sum!

Crypto.com’s Earn is more suitable if you have a large amount of USDT.

Binance Earn

Binance is one of the largest cryptocurrency exchanges in the world, and they have an Earn program where you can earn interest on USDT as well.

Here’s how you can earn interest on USDT with Binance Earn:

1. Go to ‘Wallets’ and then select ‘Earn’
2. Select ‘Subscribe’ and search for USDT
3. Select your preferred term for lending out USDT
4. Enter the transaction details

Go to ‘Wallets’ and then select ‘Earn’

On the home page of Binance, you’ll need to go to the ‘Wallets‘ tab and select Earn.

Select ‘Subscribe’ and search for USDT

Binance offers a variety of savings products for different cryptocurrencies. You will need to search for USDT.

Select your preferred term for lending out USDT

This will allow you to view some of the savings products that Binance offers for USDT.

Currently, Binance only offers a flexible savings plan where you can withdraw your funds at any time. However, the interest rate offered may be lower compared to other platforms.

Enter the transaction details

The last step you’ll need to do is to enter the amount of USDT you wish to subscribe to the savings plan.

After this, the USDT that you’ve deposited will start earning interest from the next day onwards.

Verdict

Here are some of the key features when you’re earning interest from Binance:

Minimum Deposit	1 USDT
Lock-Up Period	Flexible

Binance currently only offers a flexible lockup period for USDT. The interest rate is low, but you are free to redeem your funds almost instantly.

As such, Binance is a good choice if you intend to quickly cash in on your profits.

AAX

AAX is a platform where you can earn a decent amount of interest on USDT too.

However, you will need to lock up your funds if you want to earn a higher interest rate.

Here’s how you can earn interest on USDT with AAX:

1. Go to ‘Assets’
2. Select the ‘Savings’ tab and select ‘Buy Savings’
3. Search for USDT
4. Select the term and enter the transaction details

#1 Go to ‘Assets’

First, you’ll need to go to the Assets tab on AAX.

#2 Select the ‘Savings’ tab and select ‘Buy Savings’

After that, select the Savings tab,

and then select ‘Buy Savings‘.

#3 Search for USDT

This will bring you to the AAX Savings page.

You will need to search for USDT,

which will show all of the available terms.

AAX offers both fixed and flexible terms for USDT.

#4 Select the term and enter the transaction details

After selecting the term that you wish to subscribe to, you will need to select the amount of USDT that you wish to deposit.

Verdict

Here are some of the key features when you’re earning interest from AAX:

Minimum Deposit	10 – 100 USDT
Lock-Up Period	Flexible, 7 / 14 / 30 days

AAX has a minimum deposit, and may only be useful if you have a large amount of USDT.

Blockfi

You are able to earn interest on USDT with Blockfi.

Sending USDT will be similar to how you would send USDC to your Blockfi account.

Verdict

Here are some of the key features when you’re earning interest from Blockfi:

Minimum Deposit	None
Lock-Up Period	None

Similar to Nexo and Celsius, you will be able to earn interest on USDT without any minimum deposit.

What’s more, you will not incur any withdrawal fees for your first USDT withdrawal each month.

Hodlnaut

Hodlnaut is an alternative platform that allows you to earn interest on USDT.

Similar to other platforms like Blockfi, Celsius or Nexo, you will need to send USDT to the platform via the ERC20 network.

Once you have done so, you can start earning interest on your USDT which will be credited weekly.

Verdict

Here are some of the key features when you’re earning interest from Hodlnaut:

Minimum Deposit	None
Lock-Up Period	None

There are no minimum amounts to start earning interest on USDT with Hodlnaut.

You will also receive one free withdrawal a month from Hodlnaut, which is really helpful!

Midas

Midas is an another investment platform where you’re able to send USDT and earn interest.

To deposit USDT to Midas, you will need to click on ‘Invest‘.

This will create a node at the top of the dashboard, where you’ll need to select ‘Deposit‘,

and this will give you the ERC20 deposit address to send your USDT to.

If you send USDT using other networks (e.g. Solana or Binance Smart Chain), there is a chance that your funds may be lost forever!

Once you have deposited USDT on Midas, you will start receiving rewards after 24 hours.

Verdict

Here are some of the key features when you’re earning interest from Midas:

Minimum Deposit	None
Lock-Up Period	None

There is no minimum amount needed for you to start earning interest on Midas.

Can I stake USDT on Ankr?

You are unable to stake USDT with ANKR as it only allows you to stake MATIC on its platform.

If you go to ANKR stake, you are currently only able to stake MATIC.

As such, it is currently not possible for you to stake USDT on this platform.

Can I stake USDT on the Anchor Protocol?

You are unable to stake USDT on the Anchor Protocol, as this DeFi protocol only accepts UST deposits.

The Anchor Protocol is native to the Terra blockchain, which uses UST as the native stablecoin, instead of USDT. As such, only UST is accepted as a deposit on the Anchor Protocol.

You can find out more about ‘staking’ UST on the Anchor Protocol with my guide.

Can I stake USDT on FTX?

FTX does not allow you to stake USDT on their platform, and only offers staking of FTT, SRM, SOL and RAY.

While you can’t stake USDT on the FTX platform, any USDT that you transfer to the FTX App will allow you to earn a rather high interest rate of 8%.

Conclusion

While you can’t stake USDT, you still can lend out your funds to earn some interest.

This is similar to how you would lend out USDC, XRP or MANA instead of staking it.

When you are considering the best platform, the 3 main considerations you should have include:

1. The minimum amount required to start earning interest
2. The lockup period when subscribing to a savings plan
3. The type of network that each platform supports (only ERC20 or others)

This is because USDT can exist on other networks, where the withdrawal fees are much cheaper.

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The amount of CRO that you need to stake depends on the card you wish to get, and the currency you are staking in.

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