How to Stake Terra (LUNA) in Canada

Introduction to Cryptocurrency in Canada

Staking Terra can be an excellent choice for Canadians looking to hold LUNA 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 Terra (LUNA) Tokens in Canada

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

   Platform	Coin	Cost
   YouHodler	Terra (LUNA)	0.15
   Binance	Terra (LUNA)	0.15
   BTSE	Terra (LUNA)	0.15
   Kraken	Terra (LUNA)	0.14
   OKX	Terra (LUNA)	0.15
   BingX	Terra (LUNA)	0.15

   See all 39 prices in Canada

2. 2. Select a Terra Wallet in Canada

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

3. 3. Delegate Your LUNA in Canada

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