Introduction
Staking XRP can be a great choice for those who want to hold XRP but earn yield in a secure way while contributing to the network. The steps can be a little overwhelming, especially the first time you go through them. That’s why we’ve put this guide together for you.
Step-by-step Guide
1. Get XRP (XRP) Tokens
To stake XRP, you need to have it. To obtain XRP, you'll need to purchase it. You can choose from these popular exchanges.
2. Select a XRP Wallet
Once you have XRP, you’ll need to choose a XRP wallet to store your tokens. Here are some good options.
3. Delegate Your XRP
We recommend using a staking pool when staking XRP. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their XRP, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
4. Start Validating
You'll need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you'll automatically validate transactions on the XRP network. You'll be rewarded with XRP for these validations.
What to be Aware of
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
Latest Movements
XRP (XRP) is currently priced at US$8 with a 24-hour trading volume of US$5.17B. The market cap of XRP is currently at US$131.18B, with 57.45B XRP in circulation. For those interested in buying or trading XRP, YouHodler offers ways to do so securely and efficiently
- Market capitalization
- US$131.18B
- 24h volume
- US$5.17B
- Circulating supply
- 57.45B XRP
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