Introduction
Lending XRP can be a great option for those who want to hold XRP but earn yield. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
Step-by-Step Guide
1. Acquire XRP (XRP) Tokens
To be able to lend XRP, you need to have it. To get XRP, you’ll have to buy it. You can pick from these popular exchanges.
2. Choose a XRP Lender
Once you have XRP, you’ll need to choose a XRP lending platform to lend your tokens. You can see some options here.
3. Lend Your XRP
Once you’ve chosen a platform to lend your XRP, transfer your XRP into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly or monthly.
4. Earn Interest
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your lending platform pays compounding interest to maximise your returns.
What to be Aware of
Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.
Latest Movements
XRP (XRP) is currently priced at USD 12 with a 24-hour trading volume of USD 5.17B. The market cap of XRP stands at USD 131.18B, with 57.45B XRP in circulation. For those looking to buy or trade XRP, Nexo offers avenues to do so securely and efficiently
- Market cap
- USD 131.18B
- 24h volume
- USD 5.17B
- Circulating supply
- 57.45B XRP
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