Luno Introduces High-Yield Cosmos Staking in South Africa, Expands to Malaysia

Luno, a leading cryptocurrency exchange, has launched a sixth staking wallet for Cosmos (ATOM) in South Africa, offering a tempting promotional annual percentage yield (APY, or Annual Percentage Yield, which is the rate of return on your investment over a year) of up to 18% until June 2025. This bold move positions Luno at the forefront of the South African crypto market. However, with the crypto world’s inherent volatility, it’s not without its risks.

• Luno’s sixth staking wallet offers up to 18% APY for Cosmos until June 2025.
• No minimum investments, hidden fees, or fixed terms for Luno stakers.
• Solana staking now available in Malaysia, following Ethereum and Cardano.

Luno’s addition of Cosmos to its staking options is a strategic move to keep users engaged and rewarded. With Cosmos joining Ethereum, Solana, Cardano, Polkadot, and Near, Luno is offering some of the highest rewards in the region. Staking is like earning interest on your savings, but instead of a bank, you’re supporting a blockchain network with your crypto. It’s a way to earn passive income by committing your crypto assets to help secure the network and, in return, receive regular payouts. Luno’s model stands out because it offers flexibility—no minimum investments, no hidden fees, and no fixed terms. This means you can stake your crypto on your terms, with rewards credited within one to seven days. Over 150,000 Luno customers have already embraced this opportunity, staking over R1.5 billion through the platform.

Ethereum remains the most popular staking choice on Luno, with Solana a close second. With Cosmos now offering such a high yield, it’s expected to attract significant attention. Meanwhile, Luno is expanding its reach, with Solana staking now available in Malaysia, marking their third staking option in the country after Ethereum and Cardano.

Christo de Wit, Luno’s Country Manager for South Africa, provides a balanced perspective on the benefits and risks of staking. “Staking is one of the safer ways to earn high yield on crypto, in comparison to lending and other methods, which is why we’re aiming to stake as many cryptocurrencies as possible,” he says. However, he also offers a cautionary note about the crypto market’s volatility. “Staking rewards are added to your existing balance daily, so your earnings may compound faster if you keep them there. But remember that crypto can go up and down in value.”

Staking is one of the safer ways to earn high yield on crypto, in comparison to lending and other methods, which is why we’re aiming to stake as many cryptocurrencies as possible. – Christo de Wit, Luno’s Country Manager for South Africa

Staking rewards are added to your existing balance daily, so your earnings may compound faster if you keep them there. But remember that crypto can go up and down in value. – Christo de Wit, Luno’s Country Manager for South Africa

While the allure of high yields is undeniable, it’s essential to consider the potential volatility of the crypto market. Luno’s staking model is designed to be accessible and user-friendly, but the value of your staked assets can fluctuate unpredictably. For those willing to embrace this risk, the rewards can be substantial.

Luno’s global expansion efforts underscore its commitment to providing diverse staking options. By introducing Solana staking in Malaysia, Luno continues to build a staking ecosystem that balances high rewards with user control, all while navigating the fluctuating crypto landscape.

Cosmos, with its focus on interoperability, plays a unique role in the broader blockchain ecosystem. Its high staking yield on Luno could attract users looking to diversify their crypto portfolios beyond Bitcoin, which some Bitcoin maximalists might view skeptically. However, staking offers a compelling alternative for those interested in other cryptocurrencies. Critics might argue that staking rewards can be subject to slashing in some networks or that certain blockchains have environmental impacts, but Luno’s model aims to mitigate these concerns by offering flexibility and no lock-in periods. For more information on Cosmos, you can visit the Cosmos ATOM staking wiki.

Looking ahead, Luno plans to continue expanding its staking offerings, keeping an eye on technological advancements and regulatory changes that could impact the crypto space. For those intrigued by staking, Luno’s offerings provide a way to potentially grow your crypto assets while supporting the networks you believe in. Just remember, in the crypto world, high rewards come with high risks. Discussions on staking experiences in South Africa can be found on Reddit.

Key Takeaways and Questions

• What is the new staking option introduced by Luno in South Africa?

  Luno introduced staking for Cosmos (ATOM) with a promotional APY of up to 18% until June 2025.

• How does Luno’s staking model differ from others?

  Luno’s model is designed for accessibility, with no minimum investment amounts, no hidden fees, and no fixed terms, allowing users to maintain full control over their assets.

• What are the risks associated with staking?

  The primary risk is the inherent volatility of cryptocurrency markets, which can affect the value of staked assets.

• What other cryptocurrencies can be staked on Luno?

  Users can stake Ethereum, Solana, Cardano, Polkadot, and Near on Luno.

• How has Luno expanded its staking services globally?

  Luno has launched Solana staking in Malaysia, marking its third crypto staking option in that country after Ethereum and Cardano.