Best Places To Earn Crypto Interest In Australia

Published 17 Jul, 2022 Updated 02 Feb, 2023

Exchange Reviews

Crypto staking, mining, and earning interest are similar in that they all generate crypto in one way or another. In Australia, staking crypto is a popular way of leveraging idle digital assets to generate a passive income over time.

Some of the best cryptocurrency exchanges in Australia provide staking services for digital assets that support the Proof-of-Staking (PoS) consensus protocol. In this guide, we cover which crypto platforms offer a wide selection of crypto to stake, low fees, and payout frequencies.

These Are The Best Crypto Interest-Earning Wallets In Australia

Australian investors have fantastic options for staking their cryptocurrencies. Based on our reviews, the best places for Aussies to stake their crypto and earn rewards are highly reputable global exchanges, as listed below.

  1. Swyftx (best wallet to earn crypto interest)
  2. Nexo (best for high-interest yields)
  3. Binance Australia (best for choice)

Comparing Crypto Interest-Earning Wallets In Australia

ExchangeAssetsTrading FeesOur RatingsLearn MorePromotion
swyftx logo Swyftx 312 0.6% 4.8/5 Visit Swyftx Swyftx Review $20 Free Bitcoin for creating a new account
binance logo Binance Australia 600+ 0.1% (maker) and 0.1% (taker) 3.7/5 Visit Binance Australia Binance Australia Review None available at this time

Best Crypto Interest-Earning Wallets For Australians: 2023 Reviews

1. Swyftx


Swyftx is Australia’s largest crypto exchange in terms of trading volume in the market. The Brisbane-based exchange has been a popular choice amongst the general community since its inception in 2019 due to its reliability as a secure platform to buy cryptocurrencies with AUD. Simply put, Swyftx provides what the Australian market needs.

Continuing its journey of providing innovative crypto products to Australians Swyftx released its Earn module in mid-2022 that provides you with the opportunity to earn interest on your crypto assets.

The Earn wallet is essentially a crypto loan and reward system where you allocate your crypto to Swyftx and receive interest on your principal in return. As soon as you transfer one of the supported crypto from your Trade wallet and into the Earn wallet, you effectively enter into an agreement with Swyftx and interest will start generating on a daily basis. The loan agreement finishes when you decide to withdraw the assets from the Earn wallet.

Currently, Swyftx offers interest returns of up to 101% Annual Percentage Yield (APY) can be earned on 21 popular cryptocurrencies such as BTC, ETH, ADA, SOL, ALGO, USDT, and KSM.

swyftx earn
The Swyftx Earn module can be accessed from your dashboard.

Interest rates vary depending on the type and amount of asset that was deposited. This is because interest rates follow a tiered structure where the interest rate diminishes with higher amounts.

For example, if you initially deposit less than 3 ETH then the Tier 1 interest rate is 5.12% APY. However, if the amount deposited increases to between 3 and 6 BTC then you will receive the Tier 2 interest rate of 4.08% APY. The higher interest rates for lower amounts of crypto mean that the tiered structure is highly suitable for beginners with less capital to work with.

A summary of the interest rates for popular crypto is shown in the table below.

Bitcoin (BTC)5.12% (0-0.2 BTC), 4.08% (0.2-0.4 BTC), 3.04% (0.4+ BTC)
Ethereum (ETH)5.12% (0-3 ETH), 4.08% (3-6 ETH), 3.04% (6+ ETH)
Tether (USDT)6.71% ($0-15k USDT), 5.54% (($15K- $30K), 4.49% ($30K+)
Cardano (ADA)4.60% (0-10k ADA), 4.34% (10k-20k ADA), 4.08% (20k+)
Luna (LUNA)6.18% (0-150 LUNA), 5.65% (150-300 LUNA), 5.12% (300+)
Solana (SOL)6.18% (0-150 SOL), 5.65% (150- 300 SOL), 5.12% (300+)

Whilst Swyftx’s interest rates are not as high compared to global alternatives such as Nexo, the significant advantage is that the Earn feature is that you can easily purchase cryptocurrencies using AUD and transfer them into the wallet with a few clicks.

Another benefit for beginners is that there are no minimum (or maximum) amounts that can be deposited to begin earning interest. Interest starts to generate as soon as it’s transferred into the Earn wallet and compounds daily. The compounding effect means that the interest rewards over time are greater.

Overall, the Swyftx Earn module provides Australians with access to a local wallet that provides competitive interest payouts in the market. Whilst the list of supported assets is not as exhaustive as global alternatives, Swyftx supports a lot of popular and high-market capitalization coins. The Earn wallet is intertwined within Swyftx’s brilliantly designed platform which makes digital asset management an easy task.

For more information about the crypto products and services that Swyftx offers, you can read our detailed and in-depth Swyftx review.

Swyftx Earn Pros
  • Supports 21 popular crypto assets that most Aussie investors would possess.
  • Attractive interest rates that range between 4% to 101% APY.
  • Highly suitable for beginners who want to passively earn interest on their crypto.
Swyftx Earn Pros
  • Interest rates across the board as not as high as some global crypto platforms.

2. Nexo


Nexo is a global digital assets company that specializes in providing crypto borrowing and lending services. The platform is a leader in its space having transacted over $80 billion from a 4 million strong customer base that spans 200 countries.

nexo review

One of its premium products is it high-interest account where you can earn up to 16% APY on 33 digital currencies such as USDT, DOGE, ETH, and BTC. The list of supported assets also includes USDT, USDC, and DAI which yield some of the highest interest rates for stablecoins available in the Australian market. With stablecoin APYs of up to 12%, Nexo should be at the top of the list if you want to put your stablecoins to work.

nexo interest rates

Nexo interest rates compound daily with payouts received in your wallet each day. This means greater long-term yields compared to the other platforms on this list where compounding payouts are weekly or monthly. Nexo also charges no fees to start a crypto interest account, however, this is fairly standard across the majority of exchanges that offer this service.

In order to get the highest interest rates, you will need to complete one or more of the following.

  • Ensure that at least 10% of your portfolio held with Nexo comprises NEXO tokens.
  • Place NEXO tokens into an interest-earning wallet for an extra 2% interest.
  • For an extra 1% interest, create a fixed-term account for 1 month.

For a global financial management platform, Nexo is surprisingly easy to get started with. Creating and verifying your account can be done in a matter of minutes and transferring your crypto into a high-interest account is a straightforward process that can be done for free.

If you don’t have digital assets already, then Nexo also provides you with the option to buy crypto with your credit card with zero fees. The downside is that crypto can only be purchased with USD, EUR, or BGP meaning that you will have to convert AUD and incur currency conversion fees.

One of the advantages of being a global platform is that Nexo provides insurance on its custodial assets of up to $775 million. This is due to their partnership with leading security providers including BitGo, ledger Vault, and Bakkt. On top of this, the platform utilizes military-grade security measures such as multi-signature access requirements and 100% offline storage of assets. Overall, Nexo will bring peace of mind if the safety of your HODL’ed assets is a concern.

Nexo Pros
  • Compounding interest payments that are paid out daily.
  • $775 million insurance policy on custodial digital assets.
  • The highest interest rates for stablecoins available to Australians.
Nexo Cons
  • AUD is not supported and you will need to convert it to USD to purchase crypto.
  • Buying and holding the native token, NEXO Token, is required to obtain the highest interest rates.

3. Binance Australia


Binance’s reputation as a reliable and trustworthy cryptocurrency exchange precedes itself. the immensely popular digital assets trading platform has become a household name in Australia due to its ecosystem of innovative products and services that are offered on a user-friendly interface.

Binance Australia customers have access to Binance Earn, a module where they can passively grow assets by lending their assets and receiving interest payments in return, or by staking digital assets on the blockchain network.

The interest-earning wallet works by you lending your crypto to Binance and receiving interest from the borrowed funds. Interest is gained daily and compounds.

binance earn interest

Funds allocated to Binance Earn can be transferred to a Flexible or Locked account. A locked account means that the funds are held by Binance for a set period and a slightly higher interest rate is returned. Funds held in a flexible account can be redeemed at any time for another purpose such as trading.

Binance Earn supports the widest range of cryptocurrencies that can earn interest in Australia. Of the 238 supported digital assets, 225 including ADA, SAND, NEAR, and AVAX can be placed into a Flexible account where interest rates range between 1% and 20% APY. If you need, you can withdraw your crypto from the Earn wallet at any time.

Assets that are locked into a Locked Savings wallet will not be redeemable for the period, however, will typically attract higher earnings. Interest rates range between 4% and 25% APY for supported crypto such as BUSD, LINK, and USDT.

For more information about the crypto products and services that Binance offers, you can read our detailed and in-depth Binance Australia review.

Binance Earn Pros
  • Australians are spoilt for choice with the widest range of supported crypto that can earn interest.
  • Outstanding interest rates ranging between 1% and 25% APY.
  • The Binance Earn module can be accessed on the iOS and Android mobile apps.
Binance Earn Pros
  • Lack of deposit options for Aussies to fund their account wallets.

Frequently Asked Questions

Can You Earn Interest On Crypto In Australia?

Yes, locally owned and operated exchanges such as Swyftx and Digital Surge will pay Australian investors interest payments to hold their crypto in their Earn wallets. Alternatively, Australians can opt to use a global financial management company such as Nexo or BlockFi which typically have better interest rates and more features. Annual Percentage Yields (APY) on cryptocurrencies in Australia can range between 1$ and 25% APY.

Who Has The Best Bitcoin Interest Rate In Australia?

Currently, Swyftx provides the highest interest rates for Bitcoin in Australia with interest rates at 5.12% APY. Nexo comes in second at 5%, however, if you hold NEXO tokens then you can earn an additional 2% interest. Swyftx is 100% locally owned and operated and also provides low trading fees of 0.6% if you wish to add more assets to earn interest on.

Aaron SengAaron Seng

Aaron Seng is the Founder of His journey in the world of cryptocurrency began in 2016 where he was an early investor in Bitcoin and Ethereum. His initial interests revolved around blockchain technologies and their application in a variety of industries and markets. Over the years, he has watched the slow and steady progression and growth of digital currencies around the world.


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