How to Stake Lumia (LUMIA)

Introduction

Staking Lumia can be an excellent choice for those looking to hold LUMIA while earning APY in a secure manner and supporting the network. The process may seem a bit intimidating, particularly for first-timers. That’s why we’ve created this guide to assist you.

Step-by-Step Guide for Italian Investors

1. 1. Acquire Lumia (LUMIA) Tokens

   To stake Lumia, you must first acquire it. To obtain Lumia, you'll need to buy it. You can select from these well-known exchanges available in Italy.

   Piattaforma	Criptovaluta	Value
   Binance	Lumia (LUMIA)	0.37 APY
   BingX	Lumia (LUMIA)	0.37 APY
   Bitget	Lumia (LUMIA)	0.37 APY
   Bitmart	Lumia (LUMIA)	0.37 APY
   Bitpanda	Lumia (LUMIA)	1.56 APY
   Bybit	Lumia (LUMIA)	0.37 APY

   Check out all 28 prices

2. 2. Select a Lumia Wallet

   Once you have LUMIA, you'll need to select a Lumia wallet to securely store your tokens. Here are some excellent options tailored for the Italian market.

   Piattaforma	Criptovaluta	Staking rewards
   Binance	Lumia (LUMIA)	Up to 6.9% APY

3. 3. Delegate Your LUMIA

   We recommend using a staking pool when staking LUMIA. It's more straightforward and quicker to get started. A staking pool is a collective of validators who pool their LUMIA, enhancing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 4. Begin the Validation Process

   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 Lumia network. For these validations, you'll receive rewards in LUMIA.

What to Consider in Italy

When engaging in staking, it's important to factor in the transaction and staking pool fees. Additionally, you may encounter a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take a bit of time.