Crypto staking explained: yield, risks and tax in Brazil

Crypto staking means locking coins on a proof-of-stake network to take part in block validation and receive rewards in return. As of September 30, 2026, the reference rate on the Ethereum network was 2.55% a year and on Solana 5.02% a year, according to the Staking Rewards site, always paid in the coin itself and with no guaranteed value in reais or dollars. Past performance is no guarantee of future results.

In short

• The yield comes from network inflation and transaction fees; it is paid in ETH or SOL, and the coin's price matters more than the rate.
• The real risks are slashing, exit delays, the failure of an exchange staking on your behalf, and a liquid staking token losing its peg.
• In Brazil, Receita Federal has published no specific rule for the reward itself; the sale follows capital gains rules and the operations have been reportable in DeCripto since July 2026.

What staking is, and what it is not

On a proof-of-stake network, whoever validates blocks must put coins up as collateral. A validator that behaves earns rewards; one that signs two conflicting blocks has part of the collateral destroyed. That is slashing, described on the ethereum.org staking page. The comparison with mining is in proof of work vs proof of stake.

Staking is not fixed income. The rate moves with the amount locked and with network activity, and the principal is exposed to the price.

Past performance is no guarantee of future results. On September 30, 2026, Staking Rewards showed 43.45 million ETH staked, 35.6% of supply, across about 778,000 validators; on Solana, 69.4% of supply was delegated.

Yield versus risk

The calculation that matters is in your home currency. An investor who locks ETH at 2.55% a year receives about 0.0255 ETH per ETH after twelve months. With ETH at US$ 2,677 on September 30, 2026, per CoinGecko, that is worth about US$ 68 per coin. If the price falls 20% over the period, the position loses about US$ 470 per coin. Past performance is no guarantee of future results.

There are three operational risks. Slashing destroys part of the stake when a validator fails. An exchange staking on your behalf can fail, freeze withdrawals or change the product rules. And a liquid staking token, such as stETH, can trade below the coin it represents, as it did in 2022.

Tax in Brazil

Receita Federal treats the sale of a crypto asset as a capital gain. Under question 627 of the IRPF Questions and Answers, the gain is taxed when total sales in the month exceed R$ 35,000, at progressive rates starting at 15%, with payment due by the last business day of the following month, including for ETH or SOL received as a reward.

On the receipt of the reward itself, the same document has no specific question as of September 2026. Two readings coexist among accountants in Brazil: treat the reward as taxable income on the day it is credited, with that day's market value becoming the acquisition cost, or treat it as an asset acquired at zero cost, taxed only on sale. Settle the reading with an accountant, in writing.

Reporting is not up for debate. Since July 1, 2026, the crypto-asset return DeCripto, created by Normative Instruction RFB 2,291/2025, lists staking among the operations an individual must report when operating outside a Brazilian exchange and exceeding R$ 35,000 in a month. Keep the date, quantity and price of every credit.

Custody choices

Those who want the yield without handing over keys have two routes. Running a validator requires 32 ETH, a server that stays online and updated software. Delegation on Solana and pools on Ethereum accept smaller amounts and keep the coin under your key.

At an exchange, the trade is control for convenience. The product is simple and exit is usually quick. In return, the client takes on counterparty risk and depends on the terms of use to know who pays for slashing. Many of these products run on decentralized finance protocols under the hood, and it is worth understanding what DeFi is before signing up.

The crypto-asset market involves high risks, including significant volatility and the possibility of losing the invested capital. Nothing here is a recommendation to buy or stake any asset. How Vault helps decide whether staking belongs in a portfolio, and in which structure, is described in crypto advisory: how it works.

Frequently asked questions

How much does crypto staking yield in 2026?

As of September 30, 2026, the reference rate was 2.55% a year on Ethereum and 5.02% a year on Solana, according to Staking Rewards, before commissions. Past performance is no guarantee of future results.

Can I lose money staking?

Yes. The coin can fall more than the yield pays, the validator can be slashed, the exchange can fail and a liquid staking token can lose its peg.

Is staking taxed in Brazil?

The sale of the coin received follows capital gains rules, exempt when the month's sales stay within R$ 35,000. The treatment of the reward credit itself has no specific answer from Receita Federal as of September 2026 and should be settled with an accountant.

Is it better to stake at an exchange or in my own wallet?

It depends on how much control you want. In your wallet, the key is yours and the risk sits with the contract and the validator. At an exchange, the operation is simple and the risk is counterparty risk.

Let's talk

If you already receive staking rewards or are thinking about starting, the first step is to know whether the yield compensates the price and custody risk in your case, and how to record each credit for tax. Vault Capital is a securities advisory firm authorized by the CVM under CVM Resolution 19/2021 and never takes custody of client assets. The first conversation is about placing staking correctly inside your portfolio.