The best crypto staking platforms in Canada are the registered ones that stake for Canadians: Coinbase, Kraken, Wealthsimple Crypto, Newton and NDAX, all of which publish their own rates and fees. Crypto staking means locking up proof of stake coins to help a blockchain validate transactions, and getting paid rewards in more of the same coin. Canadians usually stake through a registered exchange: Coinbase advertises up to 10% APY on ETH, ADA, SOL, ATOM and XTZ with a 35% commission, Wealthsimple Crypto shows up to 5% a year, and Newton shows up to 4.5% APY, all as estimates. Rewards are taxable income in Canada when credited, according to the CRA, and the price of the coin can fall by more than you earn.
- What you need: a proof of stake coin and a platform that stakes it for Canadians
- What you give up: easy access, because unstaking can take time
- What to watch: the platform’s commission, the coin’s price risk and the tax on rewards
| Platform | Rate Shown | Platform Cut |
|---|---|---|
| Coinbase | Up to 10% APY on ETH, ADA, SOL, ATOM, XTZ | 35% standard commission |
| Kraken | Available to Canadians with exceptions (no Opt-in Rewards, GRT, FLR or Babylon Bitcoin Staking) | See Kraken’s staking page |
| Wealthsimple Crypto | Up to 5% per year | 30% on Core and Premium, 15% on Generation, plus validator fees |
| Newton | Up to 4.5% APY (SOL), ADA up to 2.2%, ETH up to 1.5% | Estimates, not guaranteed |
| NDAX | Opt-in staking | 20% administration fee on staking and Auto Earn rewards |
These are the highest advertised rates on each platform, before the platform’s cut. They are marketing ceilings, not what you will earn on every coin.
What Is Crypto Staking?
If you hold certain cryptocurrencies, you can earn passive income from staking. Canada has been one of the leading countries for regulated crypto platforms, and many Canadians turn to staking to increase their crypto holdings. In this article, we will explain what staking crypto involves, how to do it, and why it’s not a scam.
Putting it simply, crypto staking is when you receive rewards for holding and locking up certain crypto.
Since blockchains are decentralized, they rely on a number of validator nodes to verify transactions and add new blocks to the public ledgers. A blockchain is made up of blocks with each one containing hundreds of transactions. These blocks get added to the blockchain either by miners or by stakers depending on the consensus mechanism of the blockchain. In the case of Proof of Work (PoW) blockchains like Bitcoin, the miners who solve computational puzzles get rewarded in bitcoin for adding new blocks to the blockchain.
Cryptocurrencies that use a Proof of Stake (PoS) consensus to validate transactions rely on people to put their crypto on the line for a chance to add new blocks to the blockchain. The more crypto you have the more likely you will be chosen to add a new block and receive rewards. For example, to run your own validator on Ethereum you need 32 ETH, according to ethereum.org. That is too much for most people, so you can “stake” through a pool, a liquid staking product or an exchange. Ethereum.org says pooled and liquid staking can start from as little as 0.01 ETH and that centralized exchanges accept any amount, though exchanges carry the highest trust assumptions. Rewards from the validator are shared amongst everybody who staked.
How Can People Make Money While Staking?
With staking crypto, you can earn interest on your crypto. If staked, it often means you cannot touch your crypto for a certain period of time. In exchange, you will receive more of that same crypto. The more you stake the more rewards you will receive. Reward rates vary by coin and by platform. I used to quote an average of 6% for Tezos and 12% for Polkadot. Those numbers date quickly, so I have replaced them with the current rates that the platforms advertise in the table above.
Which Are The Best Crypto Staking Platforms In Canada?
I list them in my overall ranking order, not by yield, because the advertised rates are estimates that change and the commission decides what you keep. All five are registered in Canada.
| Platform | What It Says About Staking | Platform Cut |
|---|---|---|
| Coinbase | ETH, ADA, SOL, ATOM or XTZ, up to 10% APY in eligible jurisdictions | 35% standard commission |
| Kraken | Available to Canadians; no Opt-in Rewards, GRT, FLR or Babylon Bitcoin Staking; ETH can be staked | Not retrieved |
| Wealthsimple Crypto | Up to 5% per year | 30% on Core and Premium, 15% on Generation, plus validator fees |
| Newton | Up to 4.5% APY shown (SOL 4.5%, ADA 2.2%, ETH 1.5%), not guaranteed | Not retrieved |
| NDAX | Opt-in staking | 20% administration fee on staking and Auto Earn rewards |
Take the headline rate with caution. A 10% APY with a 35% commission is not 10% in your pocket, and the coin's price can fall by more than you earn. Bitcoin cannot be staked at all, and Bull Bitcoin, Bitcoin Well and Shakepay do not offer crypto staking. Read my staking tax guide before you start, since rewards are income when credited.
How Do I Stake Crypto In Canada?
Staking cryptocurrency first requires you to buy an eligible crypto. You will need to purchase a Proof of Stake cryptocurrency from a crypto exchange. You can see our recommended Canadian crypto exchanges in our previous article.
Next, you must decide how you will stake. Some cryptocurrencies can be staked on crypto exchanges, which is a convenient method. Once you buy your crypto you won’t need to transfer it anywhere else. Start with Coinbase, Kraken, Wealthsimple Crypto or Newton, which are all registered in Canada.
I used to list Crypto.com, Binance and KuCoin here. Binance left Canada in May 2023 and KuCoin is on the CSA banned list, so I no longer recommend either. Crypto.com is still available, and CRO lock-ups are tied to its card tiers, so read the details in our Crypto.com card guide first.
Another way to stake is by using an official wallet of your preferred crypto. Some hardware and software wallets let you stake from their own app. Check your wallet vendor’s page for which coins it supports, because the lists change. My picks are in the best crypto wallets for Canadians.
Staking crypto in Canada is also possible through staking pools.
What Is A Staking Pool?
Since only those with large holdings of crypto are likely to be chosen to validate transactions on a PoS blockchain, this alienates a lot of crypto holders. A staking pool is a way for individual crypto holders to “pool” their holdings together in order to have a better chance of being chosen to validate a block and receive the corresponding rewards. Rewards are shared amongst everybody within the pool. Usually, these staking pools will have a “lock-up” period in which you will not be able to trade, sell, or move your crypto until the time is up.
A staking pool offers the benefit of a “set it and forget it” approach. It also gives consistent rewards for passive income. Downsides are the lock-up period, and the potential for the crypto losing value in the market. If the price drops significantly since you bought and staked it, by the time you withdraw from the staking pool, your coins could be worth less than your initial investment. But this is a risk of holding any crypto and is not exclusive to staking pools. Crypto exchanges offer staking pools, but you can also find them on decentralized platforms. Decentralized staking pools often offer much higher rewards but come with more risk.
Why Do Only Some Cryptocurrencies Have Staking?
Only some cryptocurrencies are eligible for staking because not all cryptocurrencies use the PoS consensus. PoW coins like bitcoin need miners to validate transactions. To be a miner you need specialized computer equipment to solve complex puzzles. Stablecoins also do not require proof of stake. Stablecoins are pegged to fiat currencies, and while you can sometimes earn interest on your stablecoins, you are not actually staking them, you are lending them. Popular staking coins include:
- Ethereum (ETH)
- Solana (SOL)
- Polkadot (DOT)
- Polygon
- Cardano (ADA)
- Tezos (XTZ)
Bitcoin, for instance, doesn’t allow staking. Whether a given Canadian platform offers staking for a coin is a separate question, as Coinbase, for example, advertises staking on five assets in Canada.
What Are The Pros And Cons Of Crypto Staking For Canadians?
Staking crypto can give you passive income simply by holding crypto. In some cases, the rewards can be generous. You also don’t need to run a validator node yourself, you can simply receive rewards by putting your crypto in a staking pool, delegating your crypto, or using an exchange to stake. Whether the advantages outweigh the disadvantages depends on how long you plan to hold and how much the platform keeps.
One disadvantage is the lock-up period. This will vary depending on where you stake. During this time you may not be able to transfer or trade your staked crypto. You can often lock up for shorter time periods but this may generate fewer rewards.
Another disadvantage is that you must pay tax on your staking rewards. The CRA says rewards from staking on a centralized exchange will generally be considered income at the time they are credited to your wallet. When you sell your rewards for fiat, or trade the rewards for another crypto, this can incur capital gains tax. Read my full guide to staking and taxes in Canada.
What Are The Major Risks In Crypto Staking?
Of course, all crypto trading comes with risk and staking is no different. When you stake crypto, you are betting on the price of that crypto staying the same or increasing. While you will receive rewards which will add to your total holdings, if the price drops to zero, then it will not matter how many rewards you receive. If you have your staked crypto in a time lock up, then you may watch your crypto value drop and drop without being able to trade it.
Validators that misbehave can lose part of the stake. Ethereum.org notes that validators who go offline miss rewards and lose small amounts of ETH, while provable misbehaviour, such as signing two conflicting blocks, results in slashing.
While you won’t necessarily lose your staked crypto, you have to have good faith that the staking pool, exchange or delegate you’ve chosen acts in good faith and pays you the rewards you are supposed to receive. If lending crypto such as bitcoin or stablecoins, then you must trust the lending platform that you will receive your coins back at the end of the lending period. Platforms that promised high yields have collapsed before, so I stick to registered Canadian platforms.
If using a decentralized platform to stake crypto, then you must put trust in it that it won’t be exploited by hackers or its creators. A registered exchange has regulators watching it. A decentralized platform offers no such safeguards, and I explain the common traps in my guide to crypto scams in Canada.
Is Crypto Staking Worth It For Canadians?
Staking offers holders the chance to earn more crypto passively. The staking rewards will generally be lower the less risk you take. For example, staking the second most valuable crypto, Ethereum, shows relatively lower rates on platforms like Newton (up to 1.5% for ETH) than staking a smaller coin. The easiest way to stake is simply by using a crypto exchange. They may offer slightly lower rewards than if you were to use a decentralized staking pool, but a registered exchange offers a better sense of security and trustworthiness. If it is your first time staking, then staking via a Canadian crypto exchange is a good way to test it out.
What Changed For Crypto Staking In Canada In October 2026?
- The CRA updated its guidance: staking rewards on a centralized exchange are generally income when credited.
- Newton became a CIRO investment dealer member.
- The CSA issued an amended decision for Coinbase Canada, which advertises staking on five assets.
- Kraken updated its Canada licensing page, which lists the staking limits that apply to Canadians.
Frequently Asked Questions
What Is Crypto Staking In Simple Terms?
You lock up a proof of stake coin to help a blockchain validate transactions and receive rewards in more of that coin. You can do it through an exchange, a staking pool or your own validator.
How Much Can I Earn From Staking In Canada?
It depends on the coin and the platform. Coinbase advertises up to 10% APY on five assets, Wealthsimple up to 5% a year and Newton up to 4.5%, all before the platform's cut and not guaranteed.
Is Staking Taxable In Canada?
Yes. The CRA says staking rewards on a centralized exchange will generally be considered income when credited to your wallet. Selling them later can create a capital gain or loss.
Can I Stake Bitcoin In Canada?
No, not in the proof of stake sense. Bitcoin is proof of work and is mined, not staked.
How Much Ethereum Do I Need To Stake?
32 ETH to run your own validator, according to ethereum.org. Pooled and liquid staking can start from as little as 0.01 ETH, and exchanges accept any amount.
Is Crypto Staking Safe?
It carries real risks: the coin's price can fall, lock-ups can stop you selling, validators can be penalized, and platforms can fail. Registered Canadian exchanges reduce platform risk but do not remove price risk.