How to Stake Luminous (LUM) in Canada

Introduction to Cryptocurrency in Canada

Staking Luminous can be an excellent choice for Canadians looking to hold LUM while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-timers. That's why we've created this guide specifically for you.

Step-by-Step Guide for Canadians

1. 1. Acquire Luminous (LUM) Tokens in Canada

   To stake Luminous, you first need to acquire it. To obtain Luminous, you'll need to purchase it from one of these popular Canadian exchanges.

   Platform	Coin	Cost
   CoinEx	Luminous (LUM)	2.27
   MEXC Global	Luminous (LUM)	2.29

   See all 4 prices in Canada

2. 2. Select a Luminous Wallet in Canada

   Once you have LUM, you'll need to choose a Luminous wallet to store your tokens. Here are some great options available in Canada.

   Platform	Coin	Staking rewards in Canada
   Stakewolle	Luminous (LUM)	Up to 35.19% APY in Canada

3. 3. Delegate Your LUM in Canada

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

4. 4. Start Validating

   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 Luminous network. You'll be rewarded with LUM for these validations.

What Canadians Should Be Aware Of

In Canada, it's important to consider transaction and staking pool fees. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, which can take some time.