Where and How to Stake Luminous (LUM)

Introduction

Staking Luminous can be a great option for those who want to hold LUM but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That's why we've put this guide together for you.

Step-by-Step Guide

1. 1. Obtain Luminous (LUM) Tokens

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

   Platform	Coin	Price
   CoinEx	Luminous (LUM)	1.97
   MEXC Global	Luminous (LUM)	1.95

   See all 4 prices

2. 2. Choose 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 recommend using a staking pool when staking LUM. It's simpler and faster to get up-and-running. A staking pool is a group of validators who combine their LUM, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 4. Start Validating

   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. You'll be rewarded with LUM for these validations.

What to be Aware of

There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.