How to Stake Terra (LUNA)

Introduction

Staking Terra can be an excellent choice for those looking to hold LUNA while earning APY in a secure manner and supporting the network. The process might seem a bit overwhelming, particularly if you're doing it for the first time. That's why we've created this guide specifically for you.

Step-by-Step Guide for Ugandan Investors

1. 1. Acquire Terra (LUNA) Tokens

   To stake Terra, you first need to acquire it. To obtain Terra, you will have to buy it. You can select from these well-known exchanges available in Uganda.

   E-platform	Coin	Cost
   YouHodler	Terra (LUNA)	0.16 APY
   Kraken	Terra (LUNA)	0.15 APY
   OKX	Terra (LUNA)	0.16 APY
   Binance	Terra (LUNA)	0.16 APY
   BTSE	Terra (LUNA)	0.16 APY
   BingX	Terra (LUNA)	0.16 APY

   See all 39 prices in Uganda

2. 2. Select a Terra Wallet

   Once you have LUNA, you'll need to select a Terra wallet to securely store your tokens. Here are some reliable options to consider.

3. 3. Delegate Your LUNA

   We recommend using a staking pool when staking LUNA. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their LUNA, 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 Terra network. You'll be rewarded with LUNA for these validations.

What to Keep in Mind

There are transaction and staking pool fees you need to keep in mind. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, which can take a bit of time.