How to Stake Luminous (LUM) in Portugal

Introduction

Staking Luminous can be an excellent choice for those looking to hold LUM while earning a yield 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 Navigating Cryptocurrency in Portugal 1

1. 1. Acquire Luminous (LUM) Tokens in Portugal

   To stake Luminous in Portugal, you first need to acquire it. To obtain Luminous, you will need to purchase it from one of the popular exchanges available in the region.

   Plataforma	Moeda	Price in Portugal
   CoinEx	Luminous (LUM)	2.03
   MEXC Global	Luminous (LUM)	2.12

   View all 4 prices

2. 2. Select a Luminous Wallet for Your Needs in Portugal

   Once you have LUM, you'll need to select a Luminous wallet to securely store your tokens. Here are some excellent options tailored for users in Portugal.

   Plataforma	Moeda	Staking Rewards in Portugal
   Stakewolle	Luminous (LUM)	Up to 35.19% APY in Portugal

3. 3. Delegate Your LUM in Portugal

   We recommend using a staking pool when staking LUM in Portugal. It's a more straightforward and efficient way to get started. A staking pool consists of a group of validators who pool their LUM, increasing their chances of validating transactions and earning rewards. You can easily 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 in Portugal

When engaging in cryptocurrency activities in Portugal, it's important to be aware of transaction and staking pool fees that may apply. Additionally, there might be a waiting period before you begin to earn rewards. The staking pool must generate blocks, and this process can take some time, so patience is key as you navigate the Portuguese crypto landscape.