How to Stake Luminous (LUM)

Introduction

Staking Luminous can be an excellent choice for those 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-time users. That's why we've created this guide to assist you.

Step-by-Step Anleitung

1. 1. Acquire Luminous (LUM) Tokens

   To stake Luminous, you first need to acquire it. To obtain Luminous, you'll need to purchase it. You can choose from these well-known exchanges available in Germany.

   Plattform	Kryptowährung	Price
   CoinEx	Luminous (LUM)	2,66 APY
   MEXC Global	Luminous (LUM)	2,77 APY

   View all 4 prices

2. 2. Select a Luminous Wallet

   Once you have LUM, you'll need to select a Luminous wallet to securely store your tokens. Here are some solid options to consider.

   Plattform	Kryptowährung	Staking rewards
   Stakewolle	Luminous (LUM)	Up to 35,19 % APY

3. 3. Delegate Your LUM

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

4. 4. Start Validating

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

What to Consider

There are transaction and staking pool fees you need to consider. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, and this process can take some time.