If you are wandering to lean How to Stake LUNC then you are at right place. Terra’s native token known as LUNA have made a great effects on Crypto Crash since its comes bellow $0 from $100 in May 2022, The crash that occurs on that days has socked whole crypto worlds impacting the trust that was builds on Crypto Marketing. This crash is also one of the biggest crash in Crypto history, Many people has been affected from this crash has lost millions of dollar in the LUNA crash.
After the few days of crash, Terra CEO and Founder Terra Do Kwon plans to announce the Terra Ecosystem Revival Plan 2 to revive the Terra ecosystem and reduce the loss faced by many crypto investors. So, Today we are going to see how can we stake LUNC to make passive income through it. By reading this full post you will learn to stake LUNC and many more information about Staking Cryptos.
What is Crypto Staking
Crypto Staking is a popular ways to make money through the Crypto, By staking the crypto you can make passive income without trading or doing any works, The only this you need to do is to provide you crypto in Staking app / Exchange and rest of this things will do by blockchain. In the simple words, Staking is a way of earning rewards for holding certain cryptocurrencies. If you are planning to Stake ETH or ERC-20 Token then you can use Owlracle service to get actual gas price required to Stake ERC-20 Token or ETH because Meta Mask Predict high gas fee for doing transaction.
Not all the crypto supports staking, But there are the few popular Crypto like, Ethereum, Tezos, Cosmos, Solana, LUNC etc. that can be Staked and give good amount of return. Once your keep your crypto on stake, You can’t access the amount of particular coin/token that you are staking because these blockchain puts your stake crypto to work so your crypto will be locked.
How to stake LUNC
If you want to Stake LUNC then you can follow this steps mentions bellow :-
- First you need to Visit Terra Station
- After you visited on Terra Station, You can see the Connect Button on the right hands side of Header.
- By Clicking the Connect Button, You can click the connect wallet button to connect you terra Wallet where you are holding LUNC.
- Once your wallet is connected to Terra Station, Choose any one of the validators listed on the stake page.
- When you have chosen the validator for staking LUNC, now you can click on “Delegate” button to continue the Staking process.
- Now you need to Type the amount of LUNC that you would like to stake . [Note: The amount of LUNC that you will choose to Stake will be locked]
- After you have choose the amount of LUNC, You can click the submit button to Confirm the transaction.