XRP Staking Guide
First of all, XRP staking isn’t possible. The XRP ledger is not proof-of-stake, so “staking,” in a technical sense, doesn’t work.
However, this doesn’t mean you can’t earn money on your XRP holdings.
The workaround XRP not being proof-of-stake is using centralized exchanges to earn rewards on your holdings. Exchanges need liquidity, and they will pay you a % to keep your tokens locked within their platform. Some exchanges also use a portion of their revenue to pay users to “stake” their tokens on their platform. Exchanges make XRP staking simple for regular users.
In this article, we’ll look at 4 different places you can “stake” XRP and earn rewards for your holdings.
XRP Staking On ByBit Earn
ByBit is a great place to earn on your XRP deposits – if it’s available in your area.
ByBit offers 4 different ways to earn on your XRP with their ByBit Earn Program:
With ByBit’s Flexible Savings option, you can earn up to 2.7% on your XRP. When you stake through Flexible Savings, the amount you make remains consistent, regardless of fluctuations in the market.
If you’re willing to lock your XRP for 60 days, you can increase your earnings to 3.5% on XRP deposits.
Remember, when you pick Fixed Term, you won’t be able to withdraw until the term is over. You will get the amount deposited plus your rewards at the end of the term you selected.
Another way to earn money on your XRP is to use ByBit’s liquidity Mining program. By providing liquidity (equal amounts of USDT and XRP tokens) to the XRP/USDT pool, ByBit will pay you between 1.6 % – 4.9 %. Your rewards for Liquidity Mining will fluctuate depending on market conditions and volume traded on ByBit.
XRP Staking on Binance earn
Next, we have Binance Earn where you can earn rewards on a variety of cryptocurrencies. Like ByBit, Binance offers a few different ways to earn interest on your XRP.
With the Flexible Savings option, you can earn 1.49% on your XRP tokens.
Binance also offers Liquidity Pools where you can earn on your XRP by providing liquidity to a few different pools. These are the Liquidity Pools available on Binance Earn:
Pairing XRP with different assets can help you change your investment/farming strategies depending on what’s happening in the market. You’ll need to stake a minimum of $10 USD worth of XRP to earn from the Liquidity Pools.
XRP Staking On OKX
Third on our list is OKX, another centralized exchange that offers XRP staking.
With OKX’s Simple Earn product, you can earn 1% on your XRP deposits.
With the Dual Investment product, you can earn between 1.18% – 106.25%. OKX’s Dual Investment product basically allows you to take a directional risk with your XRP deposit. If you’re correct on the market direction, then you can earn significant rewards.
XRP Staking On YouHolder
YouHolder is a centralized platform that offers a variety of crypto services. YouHolder operates legally throughout the EU and Switzerland – you’ll need to complete YouHolder’s KYC (know your customer) authentication before you can use the platform.
You can earn up to 4.08% on your XRP with YouHolder. YouHolder has a minimum deposit of $100 before you can begin earning rewards.
YouHolder sends earnings payments on a weekly basis. If you withdraw in the middle of the week, you won’t receive any rewards for that week. You’ll need to keep your XRP locked in YouHOlder for at least 1 week to start earning rewards.
Keep in mind, when using centralized exchanges, you’ll need to do your own research and ensure the platform is trustworthy. When you hold your cryptocurrency on centralized platforms, you put yourself at risk for hacks and the potential for the exchange to hold your funds for a variety of reasons. Because XRP staking isn’t possible on the XRP ledger, this is the risk you’ll have to take to earn rewards on your XRP. You can stake other tokens like AVAX and SOL in a more decentralized manner.