How to Stake Lumia (LUMIA) in Australia

Introduction

Staking Lumia can be a great option for those who want to hold LUMIA while earning yield safely and contributing to the network. The steps may seem daunting, especially the first time you attempt them. That's why we've created this guide for you.

Step-by-Step Guide

1. 1. Obtain Lumia (LUMIA) Tokens

   To stake Lumia, you need to own it. To obtain Lumia, you'll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Cost
   Binance	Lumia (LUMIA)	0.13
   BingX	Lumia (LUMIA)	0.13
   Bitget	Lumia (LUMIA)	0.13
   Bitmart	Lumia (LUMIA)	0.13
   Bitpanda	Lumia (LUMIA)	1.56
   Bybit	Lumia (LUMIA)	0.13

   See all 28 prices

2. 2. Choose a Lumia Wallet

   Once you have LUMIA, you'll need to choose a Lumia wallet to store your tokens. Here are some great options.

   Platform	Coin	Staking returns
   Binance	Lumia (LUMIA)	Up to 6.9% % p.a.

3. 3. Delegate Your LUMIA

   We recommend using a staking pool when staking LUMIA. It's simpler and quicker to get started. A staking pool is a group of validators who combine their LUMIA, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 4. Begin Validation

   You'll need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you'll automatically validate transactions on the Lumia network. You'll be rewarded with LUMIA for these validations.

What to Be Aware Of

There are transaction and staking pool fees to consider. Additionally, there may be a waiting period before you start earning rewards. The staking pool needs to generate blocks, which can take some time.