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Sep 18, 2023

Everything You Need to Know About Ripple XRP Staking

Guides · 4 Minute Read · Written by Adam Campbell


ripple
xrp

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.
  • Rewards for lending XRP are available on platforms like Binance, Nexo, and Crypto.com.
  • Risks of lending include counterparty risk and protocol security risks, and careful platform selection is crucial.