Best Axie Infinity AXS Interest Rates and Rewards on Binance Earn

Best Axie Infinity AXS Interest Rates and Staking Rewards on Binance feature image

Welcome to the best Axie Infinity AXS interest rates and rewards. Here, you will find where to deposit to earn the best crypto passive income on your AXS holdings.

It´s important to let your money work for you and not miss out on free interest payouts.

Also, we cover where to buy Axie Infinity, how to pay tax on AXS interest payouts, and what risks are associated with earning interest on your AXS.

No Financial Advice, Information only. Do your own research

List: the Best Axie Infinity AXS interest rates

In the list below, you find the best Axie Infinity interest rates. As you can see, only Binance and Kucoin offer interest on your AXS deposits. In addition, they are contributing to various good yields.

Binance is the largest crypto exchange with many different products, including Binance Earn, where you can earn an interest rate on your crypto holdings.

Invest

Interests

Review

Kucoin Peer-to-peer Maring Lending Interest

Kucoin margin lending is an interest-earning feature. Here, borrowers and lenders are matched by Kucoin.

Borrowers use the funds for margin, and lenders use account holdings to earn interest.

You can always see the current Kucoin lending Axie Infinity AXS interest rates. Since it’s an open marketplace, the interest rates constantly change due to supply and demand.

Binance Earn Axie Infinity AXS interest rate

In the screenshot below, you find all the available best Axie Infinity AXS interest rates from Binance Earn.

As you can see, Binance Earn is offering rates up to 25% which is VERY good!

Binance Earn is offering Binance flexible staking and Binance locked staking. As you can understand from the names, flexible staking allows for withdrawals at any time while you lock your funds for 15, 30, 60 or 90 days for the locked staking feature.

Binance Earn Pros and Cons

Pros and Cons with Binance Earn

Pros

  • Very high interest rates and staking yields
  • Binance is the largest crypto exchange

Cons

  • Lock up periods of 60 days to achieve the best interest rates

Nexo Axie Infinity AXS interest rates

You can receive up to 36% APY on your Axie Infinity AXS holdings with NEXO.

This is currently the best Axie Infinity AXS interest rate for all suppliers.

Note that this is a limited offer until March 31, 2022.

Also, to receive the highest interest rate, you must

  1. Hold 10% NEXO tokens in your NEXO wallet
  2. Receive interest payouts in the NEXO token
  3. Lock your funds for one month at a time

What is NEXO?

NEXO is one of the world’s largest lending institutions in the digital finance industry. They offer these services

  • Earn interest on stablecoin, fiat, and cryptocurrencies
  • Borrow instantly with Nexo’s crypto credit lines
  • NEXO crypto credit Mastercard – Get 2% cashback and no fees
  • NEXO exchange – Trade 175+pairs and earn up to 0.5% cashback on each swap

NEXO Pros and Cons

Pros

Cons
  • Complicated loyalty system

What is Axie Infinity?

Axie Infinity is a play-to-earn crypto game where players earn crypto rewards for playing a game.

In Axie Infinity, players buy, breed, and pit monsters called Axies against each other to win in-game currency—called small love potions—that can be exchanged for fiat cash.

Axies are fierce creatures that love to battle, build, and hunt for treasure!

Players can build up a collection of Axies and use them across an ever-expanding universe of games.

Axie Infinity uses cutting-edge technology called Blockchain to reward players for their engagement.

Learn more about Axie Infinity in the video below.

Axie Infinity is one of the largest metaverse cryptocurrencies. Sandbox is another significant metaverse cryptocurrency. Read more about the best Sandbox SAND interest rates and staking rewards.

Another metaverse project is Decentraland. Read more about the best Decentraland MANA interest rate APY and staking reward.

Is Axie Infinity inflationary? AXZ tokenomics

In late October 2021, Axie Infinity has a circulating supply of 61.169.458 tokens and a maximum of 270.000.000, according to Coingecko.

Axie Infinity will stay inflationary until the rest of the tokens are released to the circulating supply. There are 4.5 times as many tokens to be removed, and therefore it can be hard to keep the price up, especially during a bear trend.

Where to buy Axie Infinity?

Two places are both great to buy Axie Infinity. One allows US residents and one that doesn´t allow for US residents.

Binance is the largest crypto exchange with the most trading volumes, lowest fees, and many trading pairs. With our referral code, you get even -20% on all fees charged by Binance, forever.

Coinbase has taken another approach. They allow US customers and are a regulated crypto exchange-traded on Nasdaq. In addition, they add cryptocurrencies carefully and don´t have as many trading pairs as Binance.

Best place to buy Axie Infinity AXS for non US residents

Binance is a complete crypto ecosystem with Binance earn, P2P marketplace, launchpads, NFT marketplace, futures trading, margin trading, crypto debit card and much more.

Best place to buy Axie Infinity AXS for US residents

Coinbase is the largest US regulated exchange. They select cryptocurrencies to list carefully and follow the SEC crypto guidelines.

How to pay tax on Axie Infinity interest payouts?

Yes, you have to pay tax on your Axie Infinity interest payouts. You should declare them as income. However, the details regarding this varies among the different countries.

Luckily, there are crypto tax software that have created systems to automate the tax reporting for crypto interest payouts and all other crypto transactions. The best part is that many of them supports a lot of different countries and also have a free version.

Go ahead and check out Koinly which we believe is the best crypto tax software.

Koinly Logo

Risks with Axie Infinity Interest Rates

Of course, there are risks associated with cryptocurrency investment and earning interest on your Axie Infinity AXS holdings.

You should be aware of some general risks we have listed. However, risks can also be personal, and you have to find your risks and determine if the rewards outweigh the risks.

Here are some general risks we have identified

  • The company you deposit into can go bankrupt
  • The company you deposit into can be hacked
  • The cryptocurrency you own can lose in value (Also, some of the above companies have lock-up periods, and you might not be able to sell in time)

Please read our article about crypto risk management 2021 for further information.

Facebook
Pinterest
Twitter