How to stake and earn Amp (AMP) in Australia

Earn up to 0.5% APY on your AMP. Compare rates on Amp or learn how to stake AMP using a wallet.

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AMP is the native token of the Amp platform and can be earned in several ways: through lending, staking and yield farming.

Lending your AMP

The easiest way to earn yield on your AMP in Australia is through an exchange or digital asset lending platform such as Gemini Cryptocurrency Exchange.

The highest return currently available on AMP from the products we compared is 0.5% through Gemini Cryptocurrency Exchange with a fixed deposit length, meaning you cannot withdraw your funds any time.

Use the table to compare rates on AMP and use our calculator to forecast how much you could earn.

Staking your AMP

Alternatively, you can stake AMP on the Amp platform in return for DeFi staking rewards. This method requires using a web 3.0 wallet on a blockchain like ethereum which is why we have put together a visual step-by-step explainer to help guide you through the process.

You can use our table to compare rates on AMP or skip to the staking section for a step-by-step guide on how to stake your tokens on the Amp platform with a wallet.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Compare rates for lending AMP

1 AMP = $0.01874
Daily earnings

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Weekly earnings

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Monthly earnings

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Yearly earnings

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Cryptocurrency prices provided by CoinGecko. Results are an estimate based on Finder internal data, provided on a best effort basis. Rate data may be delayed up to seven days. Please check the provider website for the most current rates and information, and to verify any data provided by this calculator before applying for any product.
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Gemini Cryptocurrency Exchange 0.5% 0% Varies Variable Earn now

How to use the table and calculator

  1. Compare rates. The table and calculator display the annual yield (APY). Rates vary depending on a number of factors like the provider, term length and whether or not the rates are variable or fixed. Keep in mind that cryptocurrency yields fluctuate each day. For a more accurate overview, we've provided an average rate based on data from the past month.
  2. Choose a variable or fixed rate. To protect against fluctuations, some providers offer a fixed rate. These rates stay consistent over time and do not fluctuate with the market. Compare lock-up periods. Some accounts require you to keep your funds locked up for a set period, while others will let you withdraw at any time.
  3. Calculate your returns. Use the calculator to project how much you could earn with each provider.
  4. Start earning. Once you've made your choice, click on the green "Earn now" button to go to the provider's website and create an account or log in.

How to earn Amp: Step-by-step guide to lending

The instructions below are for earning yield on Amp using a cryptocurrency exchange for lending:

  1. Use the table to compare rates from various providers.
  2. Choose a provider to deposit your cryptocurrency with, then safely navigate to their website using the "Earn now" button in the table.
  3. Sign-up for an account using an email address and make sure to have some form of photo ID ready to complete the verification process.
  4. Look for the "wallet" or "deposit" tab on the provider's website, then transfer your funds from your existing exchange or wallet to the deposit address shown and make sure to double-check the address is correct before sending. If you do not own any AMP yet, then you can purchase it on the same exchange you plan to earn it on or view our list of local exchanges that sell it.
  5. Once deposited, move your funds into the yield-earning account. If you are using a specialised digital asset lending platform like Celsius, Nexo or BlockFi you can usually skip this step, as your assets will typically start earning yield right away. Remember to check back regularly to monitor your portfolio, collect rewards and ensure everything is working as intended.
  6. Most services will let you access your rewards without needing to withdraw your initial deposit. Keep in mind that some services require your deposit to remain locked for a certain period of time, while others are flexible and allow you to withdraw anytime (although be on the lookout for early withdrawal fees).
  7. Remember that while earning yield on cryptocurrencies can be easy and attractive, your deposits are not insured the same way cash deposits are with a bank. Deposits are used in a variety of ways, all of which carry varying levels of risk. Some services offer insurance policies, while some might not offer any insurance at all. Make sure to research the provider thoroughly before making a decision.

How to stake Amp

AMP tokens can be staked through Flexa Capacity and used as collateral for transactions. For every transaction processed, AMP stakers are rewarded.

To begin staking, you will need access to a Web 3.0 crypto wallet, such as MetaMask. This wallet comes in the form of a browser extension and will act as a bridge between your digital assets and the Flexa Capacity protocol. You will also need AMP tokens held in your Web 3.0 wallet along with the native cryptocurrency of the blockchain that will be used for transactions (e.g. ETH for gas fees on Ethereum).

Step 1. Head over to the official Flexa Capacity website.


AMP step 1

Step 2. Connect your Web 3.0 crypto wallet to the platform by clicking the "Connect Wallet" button in the top-right corner of the screen. Follow the on-screen prompts from your wallet to complete the connection.


AMP step 2

Step 3. Once your wallet is connected, click on your Web 3.0 crypto wallet icon in the top right of the screen. Within the pop-up tab, it should display the amount of AMP you have stored in the wallet.


AMP step 3

Step 4. Adjacent to the AMP token, click the "Stake" button. You will be greeted with another pop-up that shows the applications where you can stake your AMP tokens. Each application will have its own yield return for rewards.


AMP step 4

Select the application you would like to use and enter the number of tokens you would like to stake. Then click "Continue".

Step 5. Finally, the transaction will need to be signed with your Web 3.0 crypto wallet. Once the transaction has been confirmed and processed, you will be able to see how many AMP tokens you have staked and where you are staking them. This can be achieved by clicking on your wallet in the top right of the screen.

How much can I earn from staking AMP?

The collateral pool where you choose to place your AMP tokens will determine the rewards offered from AMP staking. Each collateral pool will be used by different third parties looking to complete transactions. This means as the number of collateral pools grows, users will have more choice as to the level of rewards and risk they would like to opt for.

Additionally, if the chosen collateral pool is close to the minimum requirements needed for all of the transactions it is processing, APYs will be higher. This will encourage more users to deposit more AMP. On the other hand, APYs will be lower if the collateral in the pool can easily handle the number of transactions being requested.

Staking returns from AMP are lower than those of other networks and protocols. Returns have been known to range between 2% and 4%.

Safe storage

You can improve the security of your staked AMP by using a hardware wallet to store your private keys offline – check out our guide to learn how.

Risks of lending and staking Amp

Risks involved with lending Amp include:
  • Lack of regulation. Just because you're earning yield on your AMP like you would with a bank account, that doesn't mean you have the same protections. Cryptocurrency exchanges and lenders are largely unregulated and consumer protection laws in your country are unlikely to apply. As such, if something happens to your deposits you are unlikely to have many options for legal recourse. Fortunately, some lenders such as Nexo offer insurance on deposits to help bridge this gap.
  • Lack of insurance. While earning yield on cryptocurrencies can be easy and attractive, your deposits are not insured the same way cash deposits are with a bank. Deposits are used in a variety of ways, all of which carry varying levels of risk. Some services offer insurance policies, while some might not offer any insurance at all. Make sure to research the provider thoroughly before making a decision.
  • DeFi and smart contract risk. This guide only compares CeFi platforms, but if you choose to use a DeFi platform for lending AMP, then you are taking on the additional risk associated with that platform. DeFi lending uses software called smart contracts which automates the process and pairs lenders with borrowers. These smart contracts can be exploited and user funds stolen. Look for a protocol with a long history of security, such as Compound or Aave.
  • Scams. Be wary of platforms that offer rates several times higher than the competition. While legitimate services may do this as a promotion or way to attract users, some may be scams waiting to steal user funds.
Risks involved with staking Amp include:
  • Slashing. When you stake cryptocurrency through an exchange or wallet, you are usually doing it as a delegator. This means you are giving permission for someone else to act (vote on blocks) on behalf of your assets. If the node operator makes a mistake or intentionally does the wrong thing, then they may suffer a slashing penalty. A slashing penalty may result in the loss of funds which may be shared amongst all of the delegators, yourself included.
  • Lock-up period. Some platforms will require you to lock-up your funds for a set period of time before you can access them again. This could be several weeks, months or years. Doing so will prevent you from selling until the lock-up period is over. Some cryptocurrencies or staking services will let you unstake early for a fee.
  • Using an exchange. A feature of staking is voting. By staking your coins or tokens, you usually get a say on what happens on the network. If you use an exchange for staking, then you are assigning your voting rights to the exchange operators who may not act in your best interests.
  • Defaulting transactions.Like all collateralisation protocols, AMP staking carries some risks. To be useful to the network, staked AMP tokens are used to collateralise payments within the Flexa Network. While there are measures in place to ensure transactions are not under collateralised, the risk of defaulting transactions is still possible.
  • Lack of control.Part of the staking process on Flexa Capacity involves users choosing to stake AMP tokens through a third-party application: either Gemini or SPEDN. This is so the AMP tokens can be used as collateral against transactions. However, by doing so, a user forfeits custody of their digital assets. While both Gemini and SPEDN have high-security standards and all AMP tokens should be returned, the process does mean that users must trust another third-party platform to look after their digital assets. Staking from a wallet may be available in the future.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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