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 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 Luminous (LUM) Tokens

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

   Piattaforma	Criptovaluta	Value
   CoinEx	Luminous (LUM)	1,26 APY
   MEXC Global	Luminous (LUM)	1,34 APY

   Check out 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 excellent options tailored for the Italian market.

   Piattaforma	Criptovaluta	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 more straightforward and quicker to get started. A staking pool is a collective of validators who pool their LUM, 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 Luminous network. For these validations, you'll receive rewards in LUM.

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.