How to Stake Terra (LUNA): A Step-by-Step Guide

Introduction

Staking Terra can be a great option for those who want to hold LUNA 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. Obtain Terra (LUNA) Tokens
In order to stake Terra, you need to have it. To obtain Terra, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Bitpanda Terra (LUNA) 0.46
Kraken Terra (LUNA) 0.45
OKX Terra (LUNA) 0.46
YouHodler Terra (LUNA) 0.46
Binance Terra (LUNA) 0.46
See all 19 prices
2. Choose a Terra Wallet
Once you have LUNA, you’ll need to choose a Terra wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Kucoin Terra (LUNA) Up to 12 APY
See all 7 staking rewards
3. Delegate Your LUNA
We recommend using a staking pool when staking LUNA. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their LUNA, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
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.

Platform	Coin	Price
Bitpanda	Terra (LUNA)	0.46
Kraken	Terra (LUNA)	0.45
OKX	Terra (LUNA)	0.46
YouHodler	Terra (LUNA)	0.46
Binance	Terra (LUNA)	0.46

Platform	Coin	Staking rewards
Kucoin	Terra (LUNA)	Up to 12 APY

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.

Latest Movements

Terra (LUNA) is currently priced at $12 with a 24-hour trading volume of $158,340,110. The market cap of Terra stands at $315,779,018, with $687,660,230 LUNA in circulation. For those looking to buy or trade Terra, Kucoin offers avenues to do so securely and efficiently}

Market cap: $315.78M
24h volume: $158.34M
Circulating supply: $687.66M

See latest information

Frequently Asked Questions About Staking Terra (LUNA)

What are Terra (LUNA) staking rewards?: Terra (LUNA) staking rewards are incentives earned by users who lock their LUNA tokens to help secure the blockchain. Rewards come from transaction fees and can vary based on network activity.
How often are Terra staking rewards distributed?: Staking rewards on the Terra network are typically distributed every block, which happens roughly every 6 seconds. However, the availability of rewards can be influenced by network conditions.
How can I claim my Terra staking rewards?: To claim Terra staking rewards, you need to use a compatible crypto wallet or platform where your LUNA is staked. Check the specific process of your chosen platform to claim your rewards.
Are staking rewards taxable?: The tax implications of staking rewards vary by jurisdiction. It's important to consult with a tax professional in your area regarding your specific situation.
Can the staking rewards rate change over time?: Yes, the staking rewards rate for Terra can change based on network congestion, transaction volumes, and validator performance. Keeping updated with these changes is crucial.
How do Terra staking rewards work?: Staking rewards work by distributing a portion of transaction fees and newly minted tokens to stakeholders who help secure the network. Rewards can fluctuate based on contribution and network activity.
What factors affect the amount of reward I receive?: Factors affecting your staking rewards include the total amount of LUNA staked, network transaction fees, your validator's performance, and percentage of LUNA you’ve staked.
What happens if I unstake my LUNA tokens?: Unstaking your LUNA tokens initiates an unbonding period, during which you won't earn rewards or be able to transfer these tokens. The period typically lasts about 21 days.
Where can I find the best staking rates for Terra?: Bitcompare offers tools for real-time price comparisons, staking rates, and insights. Stay ahead by checking regularly, enabling alerts, and using these resources for informed decisions.