About a month back, I experimented with staking Ethereum on Luno. Here is a short update.
The start of the year marked a significant uptick in the annual rewards percentage for Ethereum’s staking on Luno. January saw the ARP rise to an impressive 6.0%, a considerable leap from the previous rate of 1.3% in December. This increase is a boon for stakers, with a more lucrative return on their staked ETH. Amidst the flux of the crypto market, the staking rewards have shown variability, as exemplified by the transaction history of December 2023. These fluctuations serve as a reminder of the market’s inherent volatility and the need for stakers to stay informed and adaptable – be warned, it’s never plain sailing in the crypto space.
Luno streamlines the staking process, with rewards automatically allocated to the staking wallet and compounded with the existing balance. This feature simplifies the growth of your staked assets; consider it compounded interest from a bank. While there are risks involved with staking, your crypto can be unstacked at any point and returned to your wallet.