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An in-depth guide on how to stake XRP (XRP)
We have a lot of data on staking XRP (XRP) and we share some of this with you.
We show you some staking options with other coins that could be of interest.
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 buy or trade XRP, YouHodler offers avenues to do so securely and efficiently}
Staking XRP can be a great option for those who want to hold XRP but earn yield in a safe way while contributing to the network. 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.
In order to stake XRP, you need to have it. To obtain XRP, you'll need to purchase it. You can choose from these popular exchanges.
Once you have XRP, you'll need to choose a XRP wallet to store your tokens. Here are some good options.
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.
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.
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.
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