Luno, the global cryptocurrency platform originally founded in Africa, has launched its crypto staking feature in Nigeria, becoming the first operational platform in the country to offer such a service. This move brings a new opportunity for Nigerian users to earn passive income directly through the Luno app. With annual yields of up to 18% on select assets, the feature is designed to give users more control and flexibility in growing their digital wealth.
Staking Made Simple and Accessible
The staking feature initially includes four major proof-of-stake digital assets: Cosmos (ATOM), Solana (SOL), Polkadot (DOT), and NEAR Protocol (NEAR). Users can begin earning rewards simply by holding these assets in their Luno wallets, without needing to trade or engage in complex financial activities. The platform ensures that staked assets remain accessible at all times, with no minimum thresholds, no fixed lock-up periods, and no hidden fees—making it easy for both new and experienced crypto holders to participate.
Filling a Long-Standing Gap in the Market
Historically, Nigerian crypto users interested in staking have had to rely on foreign platforms, often with less regulatory clarity and higher risk. Luno’s launch introduces a local, compliance-led alternative that addresses the demand for safer, yield-generating opportunities. By waiving significant platform fees for the first three months, Luno also enhances the attractiveness of its staking offer while solidifying its foothold in a competitive market.
A Shift Toward Long-Term Crypto Utility
Ayotunde Alabi, CEO of Luno Nigeria, emphasized the broader importance of staking in the country’s evolving crypto culture. According to Alabi, Nigerian users are moving beyond speculative trading in favor of strategies that build long-term value. Staking, he noted, provides a practical and secure way to earn consistent rewards, aligning with users’ growing preference for financial tools that are stable, transparent, and supportive of real economic goals.
Building on Regional Success
The Nigerian rollout follows successful launches in South Africa and Malaysia, where the staking feature has already gained strong traction. In South Africa alone, more than 150,000 users have opened staking wallets, with over $82 million(R1.5 billion) worth of assets staked through Luno. These figures highlight the rising demand for passive income products in regulated crypto environments and underscore the effectiveness of Luno’s approach to user adoption.
Low Barriers, Full Control
One of Luno’s standout features is its user-centric staking model, which eliminates typical entry barriers that discourage participation. Users can stake any amount, retain complete control over their digital assets, and opt out of staking at any time without penalties. This flexibility, coupled with regular reward payouts and clear terms, positions Luno’s offering as both inclusive and scalable across diverse user segments.
Reinforcing Trust and Compliance
Luno’s expansion of staking services in Nigeria also reaffirms its commitment to safety and regulatory compliance. As a licensed operator in the country, the platform continues to prioritize transparency and security while introducing innovative products. This approach not only builds user trust but also sets a higher standard for responsible crypto adoption in African markets.
With the launch of staking in Nigeria, Luno is redefining how local users interact with digital assets—shifting the focus from speculation to sustainable wealth-building. By offering secure, accessible, and compliant tools for passive income, the platform strengthens its leadership in Africa’s evolving crypto landscape. As adoption grows, Luno’s latest feature may serve as a blueprint for how regulated innovation can unlock long-term value for everyday users.