How to Stake Terra (LUNA) in Australia

Introduction

Staking Terra can be a great option for those who want to hold LUNA 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 Terra (LUNA) Tokens

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

   Platform	Coin	Cost
   YouHodler	Terra (LUNA)	0.15
   Kraken	Terra (LUNA)	0.15
   OKX	Terra (LUNA)	0.15
   Binance	Terra (LUNA)	0.15
   BTSE	Terra (LUNA)	0.15
   BingX	Terra (LUNA)	0.15

   See all 39 prices

2. 2. Choose a Terra Wallet

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

3. 3. Delegate Your LUNA

   We recommend using a staking pool when staking LUNA. It's simpler and quicker to get started. A staking pool is a group of validators who combine their LUNA, 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 Terra network. You'll be rewarded with LUNA 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.