How To Stake Avalanche (AVAX)
Do you want to earn AVAX Staking Rewards by Staking Avalanche? Earning interest on your Avalanche is easy and we will go over the steps for you to take to do so. Have your Avalanche work for you instead of just letting it sit there.
Earn Avalanche AVAX Staking Rewards
1. Celsius Network (Easiest Option)
Celsius is a popular crypto borrowing and lending platform that allows you to earn interest on a variety of different cryptocurrencies. Earning interest on Celsius is extremely easy because all you need to do is hold the cryptocurrency in your Celsius wallet, no need to lock it up. Celsius currently provides 5.75% interest on your AVAX. Currently Celsius has disabled withdrawals, so now is not a good time to sign up.
Desktop Version:
- Go to https://celsius.network/ and create a new account. Earn up to a $50 sign up bonus when you use referral code 109902077a at sign up.
- You must transfer the required amount to earn the Celsius sign up bonus.
2. Once your account is set up, you will see your dashboard.
3. Click on the “Receive” tab and then click “Add New Coins”. Add Avalanche (AVAX) and it will then show up on your list of coins. Click “View and Copy Address”.
5. Send your Avalanche to the provided address. Ensure that you are using the C-Chain when transferring your AVAX. You can tell if your AVAX is already on the C-Chain if your AVAX address looks like an Ethereum Address (e.g. 0x1234ABC567def890GHI…). Almost all cryptocurrency exchanges have your AVAX on the C-Chain already.
5. After receiving your Avalanche, you’re all done! You will start accruing interest immediately and rewards are distributed weekly.
Mobile Version:
- Go onto your mobile device’s app store and download the Celsius app (Android and iOS supported).
- Earn up to a $50 sign up bonus when you use referral code: 109902077a at sign up.
2. Open the app and click Join Celsius and complete the process of creating a new account.
3. Once your account is finished setting up, press the “Transfer” tab to bring up options.
4. Press “Receive”.
5. Select Avalanche (AVAX) from the drop-down menu to get your Avalanche address. Ensure that you send your AVAX using the C-Chain to this address. You can tell if your AVAX is already on the C-Chain if your AVAX address looks like an Ethereum Address (e.g. 0x1234ABC567def890GHI…). Almost all cryptocurrency exchanges have your AVAX on the C-Chain already.
6. After receiving your Avalanche, you’re all done! You will start accruing interest immediately and rewards are distributed weekly.
- Note: As of April 15, 2022, New US customers for Celsius will not have access to any interest earning opportunities at all until their Earn Interest Product 2.0 comes out. Non-US customers and prospective customers are not affected by this.
2. Official Avalanche Wallet
Using the official Avalanche Wallet is another great way to hold your AVAX. It can provide higher staking rewards but it is more complicated and has a minimum requirement of 25 AVAX to be able to earn interest, which can be too much for the average person. Additionally, when staking on the official Avalanche Wallet, you will need to lock your AVAX for a set period of time, meaning you will not be able to trade your AVAX while it is staking. We recommend this method if you have a Ledger hardware wallet and are likely to hold your crypto long-term.
- Go to https://wallet.avax.network/ and create a new wallet, or click “Access Wallet” if you already have your AVAX on a Ledger hardware wallet.
2. Send your AVAX to your Avalanche Wallet account. Ensure that you are using the proper Chain address that matches where you are sending from. Most exchanges use the C-Chain address so you will want to send your AVAX to your Avalanche Wallet’s C-Chain. You can tell if your AVAX is already on the C-Chain if your AVAX address looks like an Ethereum Address (e.g. 0x1234ABC567def890GHI…).
3. Once your AVAX is in your Avalanche Wallet, go to the “Cross Chain” tab. Change the Source Chain to “C Chain” and Destination chain to “P Chain”. Convert at least 25 AVAX to the P-Chain.
4. Once your C-Chain AVAX has been converted into P-Chain AVAX, go to the “Earn” tab. Click “Add Delegator”.
5. You will be presented with a list of nodes to delegate to. Head over to https://avascan.info/staking/validators to see the same list but with more information about them including how much staking rewards you can expect as well as how the community sees them.
6. Based on the information provided to you, go back to the Avalanche Wallet and choose the node you would like to stake with.
7. Choose how long you would like to stake and lock your AVAX for as well as how much of your AVAX you will stake before confirming.
8. After confirmation, you’re all done and are staking your AVAX on the Avalanche Wallet.
Final Thoughts
Celsius is a great method of earning interest on a variety of cryptocurrencies, such as Avalanche, because it’s as simple as sending crypto to your Celsius wallet and holding. If you are planning on holding long-term, we recommend activating HODL mode on Celsius. This mode disables features such as sending cryptocurrencies out of your wallet and much more until you disable HODL mode. This is also a tool that can prevent you from losing your funds if your account gets hacked.
We recommend using the mobile version of Celsius over the desktop version because it has more features if you wish to use it, such as borrowing cash or stablecoins.
The official Avalanche Wallet is a good choice to earn more interest on your AVAX as well but it is more complicated, your AVAX will be locked during the duration it is staked, and there is a pretty high minimum holdings amount of 25 AVAX to even begin earning interest. We only recommend using the Avalanche Wallet if you absolutely must have the highest interest rates, have a Ledger hardware wallet, and are planning to hold long-term.
Earn AVAX Staking Rewards by staking Avalanche on Celsius and the Avalanche Staking Wallet. Visit Crypto Staking Rewards to learn how to stake crypto, earn staking rewards, cryptocurrency staking benefits, and where to find the best staking rewards.
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