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 overwhelming, particularly if it's your first time. That's why we've created this guide to assist you.

Step-by-Step Guide for South African Investors

1. 1. Acquire Lumia (LUMIA) Tokens

   To stake Lumia, you first need to acquire it. To obtain Lumia, you'll need to buy it. You can select from these popular exchanges available in South Africa.

   Platform	Mint	Cost
   Binance	Lumia (LUMIA)	0,37
   BingX	Lumia (LUMIA)	0,37
   Bitget	Lumia (LUMIA)	0,37
   Bitmart	Lumia (LUMIA)	0,37
   Bitpanda	Lumia (LUMIA)	1,56
   Bybit	Lumia (LUMIA)	0,37

   View all 28 prices

2. 2. Select a Lumia Wallet

   Once you have LUMIA, you'll need to choose a Lumia wallet to store your tokens securely. Here are some solid options to consider.

   Platform	Mint	Staking rewards in South Africa
   Binance	Lumia (LUMIA)	Up to 6,9% APY

3. 3. Delegate Your LUMIA

   We recommend using a staking pool when staking LUMIA. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their LUMIA, which increases their chances of validating transactions and earning rewards. You can manage 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 Lumia network. You'll be rewarded with LUMIA for these validations.

What to Keep in Mind

There are transaction and staking pool fees you need to take into account. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this process can take some time.