Where and how to stake Luminous (LUM)

Introduction

Staking Luminous can be a great option for those who wish to hold LUM while earning yield in a safe manner and contributing to the network. The steps can be somewhat daunting, especially the first time you do them. That’s why we have put together this guide for you.

Step-by-Step Guide

1. 1. Acquire Luminous (LUM) Tokens

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

   Platform	Coin	Price
   MEXC Global	Luminous (LUM)	1.63
   CoinEx	Luminous (LUM)	1.64

   See all 4 prices

2. 2. Select a Luminous Wallet

   Once you have LUM, you’ll need to choose a Luminous wallet to store your tokens. Here are some good options.

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

3. 3. Delegate Your LUM

   We suggest using a staking pool for staking LUM. It's easier and quicker to get started. A staking pool is a collection of validators who combine their LUM, which increases their odds of validating transactions and earning rewards. You can do this through your wallet’s interface.

4. 4. Start Validating

   You'll have 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 to Keep in Mind

You need to keep in mind the transaction and staking pool fees. Additionally, there might be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this can take a while.