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. Obtain XRP (XRP) Tokens
To lend XRP, you need to have it. To acquire XRP, you’ll need to buy it. You can choose 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 on 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 whilst your crypto earns interest. The more you deposit, the more interest you can earn. Try to ensure your lending platform pays compound interest to maximise your returns.
What to be Aware of
Lending your crypto can be risky. Ensure 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 US$3 with a 24-hour trading volume of US$5.17B. The market cap of XRP stands at US$131.18B, with 57.45B XRP in circulation. For those looking to purchase or trade XRP, Nexo offers avenues to do so securely and efficiently}
- Market capitalisation
- US$131.18B
- 24-hour volume
- US$5.17B
- Circulating supply
- 57.45B XRP
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