Sep 18, 2023
Everything You Need to Know About Ripple XRP Staking
Guides · 4 Minute Read · Written by Adam Campbell
TL;DR:
- Ripple XRP cannot be staked due to its non-proof-of-stake consensus mechanism.
- Instead of staking, users can earn rewards by lending or locking XRP on centralized exchanges.
- Lending differs from staking; it involves providing a loan of crypto assets without contributing to network security.
- Risks of lending include counterparty risk and protocol security risks, and careful platform selection is crucial.