Amid the massive Luna crypto crash, several users are still searching for Terra Luna Staking methods, and whether it's possible to do so through a cryptocurrency exchange.
The news of Do Kwon announcing a Terra Luna recovery plan, which includes a Luna fork mechanism, has left users curious about what's in store for Terra.
To pass the Luna fork via the Terra Luna Vote, holders would need to stake their Luna to vote on the proposal. Let's take a look at how this can happen.
How To Stake Luna On Terra Station
Users can stake their Luna via Terra Station by following the steps mentioned below:
- Open Terra Station and click on Staking.
- Select the validator you'd like to stake your Luna to by clicking on their name in the Moniker Column.
- Hover over the My Delegation tab and click on the delegate.
- Enter the amount of Luna you'd like to stake and click on the next option.
- Cross-check the details and hit the delegate option to start your staking process on Terra Station.
Terra Station may be seen as one of the top places to stake Luna given it can allow them to vote on proposals.
Luna staking may, however, change if the Luna hard fork passes. Under the current revival plan, Luna will have an inflation rate of 7% per year, distributed to stakers.
Read More: What Is Terra Luna Classic (LUNC)?
How To Stake Luna On Crypto Exchanges
After buying Luna, holders can stake Luna on the cryptocurrency exchange Binance. To do so, they must follow these steps:
- Create an account on Binance or Log in to your existing account.
- Scroll towards Finance and select Binance Earn.
- Select Luna from the dropdown list.
- If you don't have Luna in your account, buy some Luna before you proceed ahead.
- Click Subscribe and store your Luna funds to earn staking rewards.