This guide will explain how to stake Axie Infinity AXS tokens with the Ronin Wallet and Binance. We also explain where to buy AXS tokens and how to transfer them to the Ronin wallet via Binance to reduce fees.
If you currently hold Axie Infinity AXS tokens in a wallet or an exchange, you can now stake these to earn passive income. Furthermore, if you introduce compounding, your return on investment can dramatically increase.
So, let’s dive into this guide on how to stake Axie Infinity AXS tokens and start making interest on your crypto tokens.
What are Axie Infinity AXS Tokens?
Axie Infinity Shards (AXS) are ERC-20 governance tokens that were introduced in November 2020 for the Axie Universe, the largest play-to-earn crypto game that allows players to collect, breed, raise, battle, and trade creatures known as “Axies“.
The tokens can be earned by gameplay and by adding value to the network. Plus, the AXS tokens can be used as currency within the Axie NFT marketplace or simply held and staked to earn more AXIE.
How to Stake Axie Infinity AXS Tokens
Watch our video tutorial for a detailed guide on how to stake your AXS tokens. In our step-by-step guide, we explain the following;
- How to create a Ronin wallet
- How to transfer tokens from Ethereum to Ronin
- How to stake Axie Infinity AXS Tokens with Ronin wallet
- How to stake Axie Infinity AXS Tokens on Binance
Where to Buy Axie Infinity AXS Tokens?
AXS tokens can be traded on popular centralised exchanges like Binance, FTX, KuCoin or Crypto.com. Moreover, you can also use decentralised exchanges such as UniSwap or PancakeSwap.
To find the best prices for AXS, visit the Markets Page for AXS on Coin Market Cap. We must mention that there are some advantages to using Binance for purchasing AXS tokens, which I’ll explain later in this review.
The Ronin network is a side chain on Ethereum dedicated to hosting the Axie Infinity game. The network was created by Sky Mavis, the team behind Axie Infinity.
To interact with the Ronin Network, you must create and connect your Ronin Wallet first. A Ronin Wallet will allow you to store, send and receive RON, RRC20 & RRC721 standard tokens and interact with applications on the Ronin platform.
The wallet is available as a web extension for Google Chrome and Firefox. You can also connect your Trezor hardware wallet, meaning that your tokens never leave the safety of your hardware wallet.
To make transactions using the Ronin wallet, you’ll need to create an Axie Infinity marketplace account for your wallet, as currently, you will get 100 free Ronin transactions a day. However, the Ronin network will eventually transition to RON tokens for the fees.
How to Transfer AXS Tokens from Ethereum to Ronin Network
If you’ve purchased your AXS tokens on exchanges such as Crypto.com or FTX, you may find that your tokens are currently on the Ethereum Network. However, you’ll need these on the Ronin Network to stake them and store them in the Ronin Wallet instead. There are two ways to transfer your tokens from the Ethereum Network to the Ronin Network.
Option 1: Ronin Bridge
Axie Infinity’s Ronin Bridge is a platform that allows you to transfer your ERC20 tokens from the Ethereum network to the Ronin network.
Simply follow the below instructions to bridge your tokens.
- Head across to https://bridge.roninchain.com/
- Choose to “Deposit”
- Copy your Ronin Wallet Address from within your Ronin Wallet
- Paste the Address into the Ronin Address Field.
- Select the Asset from the list
- Enter the amount you’d like to bridge.
- Choose Next
- Confirm the deposit
Just be aware that you must pay the transaction fees on the Ethereum network for bridging. At the time of writing, ETH gas fees are quite low, but they might be high when you read this article.
Options 2: Withdraw on Binance Using Ronin Network
If you’ve bought your Axie Infinity AXS Tokens on Binance, you can withdraw them on the Ronin Network without the need to bridge.
If you want to use Binance for withdrawals, simply follow the instructions below:
- Head across to Binance and choose to withdraw AXS.
- Copy your Ronin Wallet Address from within your Ronin Wallet
- Paste the Address into the Address Field.
At this point, you will receive an error stating that the withdrawal address format is wrong. This is because if you transfer your assets to your Ronin wallet, you need to replace the prefix from “ronin:” with “0x”.
- Once you have done this, select the Ronin Network
- Enter the number of tokens you would like to withdraw.
If this is the first time you’re sending a transaction to any new address, we’d recommend sending across a test amount first to ensure you didn’t make a mistake, especially where you need to edit an address like this. The transaction cost with Binance is minimal too, so it won’t cost you much to do a test transaction.
How to Stake AXS Token with Axie Infinity to Earn Passive Income?
When staking your AXS tokens with Axie Infinity, you can currently earn up to 45% APY. However, this rate fluctuates and will likely differ when you read this guide. The benefit of staking with Axie Infinity is that your tokens aren’t locked and can be withdrawn anytime, which is the ideal option for a risky token like AXS. Also, you can claim and re-stake your staking rewards for compound interest.
How to Stake AXS Token on Ronin Wallet
To stake your AXS tokens on Ronin Wallet, simply follow the below instructions:
- Head to https://stake.axieinfinity.com/ (You will see the ‘Estimated Rewards’ you can earn for staking your AXS Tokens.)
- Connect your Ronin Wallet to the platform.
- Approve AXS and confirm within your Ronin Wallet.
- Enter the number of tokens you want to stake or choose “Max”.
- Click Stake.
- Confirm the transaction with your Ronin Wallet and use up some more free transaction fees.
If you do not have any free transactions available within your Ronin Wallet, you must create an Axie Infinity Marketplace account for your wallet. You will then have 100 free Ronin transactions a day.
Ronin Wallet AXS Staking Rate: Up to 45% (Flexible Staking)
Ronin Wallet AXS Staking Verdict: Axie Infinity is the ideal platform to stake your AXS tokens. You can earn an awesome return of 45%, which is great compared to other options on the market for AXS Flexible Staking. You also have the option to re-invest your staking rewards back into the platform for compound interest. Moreover, you can un-stake and withdraw your tokens at any time since AXS can be a volatile and risky asset to hold. However, the staking process is a little tricky and can confuse beginners, especially if they are not reading this tutorial.
How to Claim & Compound AXS Tokens with Ronin Wallet
Immediately after you stake your AXS tokens with Axie Infinity, you’ll start earning. These rewards can then be claimed or re-staked for compound interest. By claiming, the total rewards will go to your wallet. These are available immediately for breeding or exchanging.
If you choose to re-stake, this will claim your rewards and stake them. Remember that every time you claim rewards (Claim or Restaking), you’ll need to wait 24 hours before you can do another claim or re-stake.
How to Stake AXS Token on Binance
If you’ve already bought your Axie Infinity AXS tokens on the Binance exchange, you can stake these on Binance Earn to earn up to 52.90% APY. With Binance Earn, you can currently lock your AXS tokens into a fixed 90-day term and earn 52.90% APY. Binance did have rates up to 131.25% for 90 days; however, these subscriptions do run out. For updated staking rewards, visit AXS Binance Earn.
However, staking with Binance does come with risks. First, you must lock your tokens for a fixed period, and you will only get these high rates for the period you’ve deposited your tokens. As you can see, the rate for flexible staking is quite low compared to staking directly with Axie Infinity. Secondly, AXS is a risky token. If you lock your tokens and their price declines, you cannot unlock them.
Binance AXS Staking Rate: Up to 52.9%
|Binance AXS APR||Duration|
Binance AXS Staking Verdict: Binance is the ideal platform for beginners to stake their AXS tokens and earn a juicy 52.9% interest, which is the second-best interest rate compared to Axie Infinity native staking. However, since AXS is a relatively risky token, locking your tokens for 3 months might not be the best idea. Again, none of this is financial advice!
How to Stake AXS Token on Huobi Global
If you live in the US, you cannot stake your AXS tokens on Binance.US. Huobi Global is the next best option for staking your AXS tokens on an exchange. With Huobi, you can earn 20.5% interest for a lockup period of 90 days.
Huobi AXS Staking Rate: Up to 20.5%
|Huobi AXS APY||Terms|
Huobi AXS Staking Verdict: Huobi Global is a trusted and reliable exchange. However, we would recommend using Huobi only if you live in the US and do not want to stake on the Axie Infinity platform.
You also have the option to stake your AXS with other centralized exchanges like Bitrue and OKX, but they offer close to 5% return which is a very huge difference compared to Binance.
How to calculate your AXS staking rewards?
Use our Every Bit Helps Crypto Staking Calculator to calculate your AXS Staking rewards.
Is AXS staking sustainable?
From the outset, AXS staking seems sustainable. Users have been staking their tokens since 2021 and continue to receive rewards. Moreover, Sky Mavis is a team of gaming and business veterans and has been working on the tokenomics and other fundamentals of the AXS token.
With that said, you should also remember that crypto-assets are very risky, and we have seen a huge drawdown from 130% APY to 52% APY on AXS staking rewards in one year. Invest responsibly!
How much can you make staking Axie Infinity AXS tokens?
You can make anywhere between 5-53% APY for staking your Axie Infinity AXS tokens. Your Axie Infinity staking rewards depend on your lockup period and the platform used for staking.
Is AXS staking worth it?
Staking AXS tokens is a great option if you want to earn high passive income on your idle money. The APY for AXS is one of the highest for staking in the crypto industry, i.e. more than 50% APY. Please also note that we are in a bear market and could see high drops in token prices, which can offset your staking rewards.
As always, none of this is financial advice!