What’s proof-of-stake?
Proof-of-Stake is a consensus mechanism used to verify transactions and events in a cryptocurrency network by requiring participants to put up (or stake) a certain amount of cryptocurrency in exchange for rewards.
There are no limits to start staking like there are with other platforms. Whether you want to stake a small or large amount of crypto, you can put it to work through Luno.
You can start staking in just a few taps. Simply create your staking wallet in the Luno app and decide how much crypto you want to put to work.
Your security is paramount at Luno. We’ve rigorously vetted all the validators we work with.
Every week, your rewards will be paid automatically into your staking wallet, helping you grow your crypto.
Earn crypto rewards just by holding it in your staking wallet.
You’ll be helping to validate transactions and keeping the network secure.
You're supporting the long-term health of a cryptocurrency’s ecosystem and boosting its potential use case.
Luno’s one of the safest ways to buy, sell, store and earn on your crypto. We take a regulation-first approach and focus heavily and consistently on becoming the most licensed and compliant platform globally. We believe that’s the best way to keep our customers and their investments safe, that’s why we’re trusted by more than 11 million investors across the globe.
Luno is self-regulated to bank-level standards. We take a risk-based approach to Customer Due Diligence (CDD) including (AML) and (CTF) and customer identification, verification and KYC procedures to keep you and your investment secure and reduce industry crime for everyone. Find out more about how Luno stays compliant.
Luno protects your crypto, money, data and account with multiple layers of industry leading bank-grade security. Like two-factor authentication and biometrics and deep-freeze storage and multi-signature hot wallets. So your crypto stays your crypto. Safe and secure. Always. Find out more about how Luno keeps your crypto safe.
Proof-of-Stake is a consensus mechanism used to verify transactions and events in a cryptocurrency network by requiring participants to put up (or stake) a certain amount of cryptocurrency in exchange for rewards.
When your stake is used to validate a transaction effectively, you are rewarded with a staking reward in the form of the cryptocurrency you are staking, and will automatically be added to your staking wallet.
Luno doesn’t charge a fee to stake or unstake your cryptocurrency, but we do take a service fee as a percentage of the reward. Our service fee has already been deducted from the stated reward, so the Annual Reward Percentage you see is what you earn after this deduction. Visit our Fees and Limits page to view the staking service fee.
When you stake your crypto to a cryptocurrency network, you are allowing it to be used as what is known as a block validator because you are validating transactions.
Slashing happens on Ethereum when a validator pushes through a transaction that’s fraudulent in some way. If this happens, the network destroys, or ‘slashes’ the stake, and you will lose your money rather than be rewarded.
To understand all terms and conditions of staking with Luno, please see here.