Introduction
Staking XRP can be a great option for those who want to hold XRP but earn yield in a safe way whilst contributing to the network. The steps can be a bit daunting, particularly 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 stake XRP, you need to have it. To obtain XRP, you'll need to purchase it. You can choose from these popular exchanges.
2. Choose 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 may 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 stands at US$131.18B, with 57.45B XRP in circulation. For those looking to purchase or trade XRP, YouHodler 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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