Luno Pioneers Crypto Staking in Nigeria, Ushering in a New Era for Local Crypto Users
Luno, a prominent crypto platform, has made history in Nigeria by launching crypto staking services, marking the first time a local platform has offered this feature. This initiative allows Nigerian users to earn passive income on select proof-of-stake cryptocurrencies directly through the Luno app, potentially revolutionizing how Nigerians interact with decentralized finance. This move signifies a significant step towards making crypto more accessible and compliant within the Nigerian market, addressing the needs of a growing user base.
Key Features and Benefits for Nigerian Crypto Users
The introduction of staking on Luno provides Nigerian users with a simplified and secure way to earn returns on their crypto holdings. Users can now stake assets like Cosmos (ATOM), Solana (SOL), Polkadot (DOT), and NEAR Protocol (NEAR) and potentially earn up to 18% annually. A major advantage of Luno’s staking service is its user-friendly nature. There are no minimum amounts required to start staking, and users won’t be locked into their investments. Furthermore, Luno is waiving fees for the first three months, encouraging early adoption. Rewards are distributed regularly, providing users with consistent income. This move also addresses the existing reliance on offshore platforms, which often present regulatory uncertainty, hidden fees, or lock-up conditions for Nigerian users.
Luno’s innovative approach caters to the 21 million crypto users in Nigeria, addressing the need for passive income opportunities, especially during market volatility. By providing a local, compliant, and accessible staking solution, Luno is positioning itself as a leader in the Nigerian crypto landscape, simplifying the user experience and lowering the barriers to entry for DeFi participation.
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