How to stake and earn Celo (CELO) in Australia

Earn up to 9.08% APY on your CELO. Compare rates on Celo or learn how to stake CELO using a wallet.

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

Lending your CELO

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

The highest return currently available on CELO from the products we compared is 9.08% through OKX Cryptocurrency Exchange with a lock-up period of 15-days.

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

Staking your CELO

Alternatively, you can stake CELO on the Celo platform in return for DeFi staking rewards. This method requires using a web 3.0 wallet on a blockchain like celo 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 CELO or skip to the staking section for a step-by-step guide on how to stake your tokens on the Celo 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 CELO

1 CELO = $1.90080
Daily earnings

$0.00

0 CELO

Weekly earnings

$0.00

0 CELO

Monthly earnings

$0.00

0 CELO

Yearly earnings

$0.00

0 CELO

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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OKX Cryptocurrency Exchange 1% 1% Flexible Fixed Read review
OKX Cryptocurrency Exchange 2.08% 2.08% Flexible Fixed Read review
OKX Cryptocurrency Exchange 9.08% 5.58% Varies Variable Read review
OKX Cryptocurrency Exchange 2.91% 2.91% 1-month Fixed Read review
OKX Cryptocurrency Exchange 3.74% 3.74% 2-month Fixed Read review
OKX Cryptocurrency Exchange 4.57% 4.57% 3-month Fixed Read review
OKX Cryptocurrency Exchange 9.08% 9.08% 15-days Fixed Read review

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 Celo: Step-by-step guide to lending

The instructions below are for earning yield on Celo 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 CELO 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 Celo

Holders of CELO coins can stake their digital assets to support the Celo Network. In return, stakers are rewarded.

CELO coins can be staked using a variety of Web 3.0 crypto wallets. For this example, we will be using Celo Wallet as it connects directly with the Celo Network. Alternatively, users can stake via the Celo Terminal.

After you have unstaked your funds, you must wait 3 days for an unbonding period.

Step 1. Visit the Celo Wallet website and download the desktop application.

CELO step 1

Step 2. Once installed, create a new account. Remember to store both your password and seed phrase securely. Using your new wallet address, send across your CELO coins.

CELO step 1

Step 3. We must now lock our CELO coins using the Celo Wallet. From the home screen of the Celo Wallet, click the "More" button, followed by "Lock".

CELO step 1

Step 4. On the next screen, enter the number of CELO coins you would like to lock. Remember to leave a small percentage of CELO unlocked so that you can use it to pay gas fees.

CELO step 1

Step 5. Once your desired number of CELO tokens have been locked, you now need to vote for a Validator Group to start earning rewards.From the home screen of the Celo Wallet, click the "More" button again, followed by "Stake". On the next screen, you will see the validators currently active on the network.

CELO step 1

Step 6. Choose a validator group from the list. CELO coins can be distributed across several validators. Remember to check all of the associate details. Click on the chosen validator and click "Vote for Group".

CELO step 1

Step 7. On the following screen, enter the number of CELO tokens you wish to delegate to the chosen validator group. Click "Continue". Review the details and then click "Vote". You will be prompted by a message that states the system must verify your votes over the next 24 hours.

CELO step 1

Step 8. Head back to the app 24 hours later. The Celo Wallet will ask whether you would like to activate your votes. Click "Activate". On the following page, make sure that the "Activate" icon is selected. Your chosen number of CELO coins should already be filled. Click "Continue", followed by "Activate" on the next page.

To see what CELO coins you are staking, click the "More" button from the home screen and click on "Track".

How much can I earn from staking CELO?

Those that have delegated CELO coins earn rewards when their chosen group of validators is used to mint new blocks on the blockchain.

The amount of rewards increases proportionally with the amount of CELO coins staked. In addition to volume, rewards will increase the longer that CELO coins are left in the staking process. All rewards are compounded automatically over time.

Finally, the amount of the rewards received will also depend on your chosen validator group. Validator groups take a percentage cut of all rewards due to completing the technical side of staking. The rewards distributed to delegators can vary considerably.

As a result of the variables, the rate of return from CELO staking varies considerably.

Safe storage

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

Risks of lending and staking Celo

Risks involved with lending Celo include:
  • Lack of regulation. Just because you're earning yield on your CELO 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 CELO, 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 Celo 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.
  • Unbonding period. Unbonding staked CELO requires users to wait 3 days before coins are released. During this time, CELO coins will not be available for trading. If there are any significant changes to the ecosystem, investors may lose out to unfavourable market conditions.
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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