Can You Stake XRP?
XRP, or Ripple, is a global payments network that uses a cryptocurrency of the same name.
Staking using XRP is a viable option, offering you special staking rewards in return - but what does it do, and should you consider it?
Staking XRP
While the XRP system itself does not allow you to stake coins, there are great platform alternatives that have an Earn program based on staking rewards - as well as ways to earn passive income.
Staking rewards, you with income over time - you start earning interest the moment you stake coins. The more digital assets you stake, the higher the interest rate offered.
As you earn interest payments, your total funds in the account increase, which you can exchange for usable money.
What is Staking?
Staking coins puts them under the proof-of-stake system, giving the blockchain full control. They help to verify transactions on new blocks.
As compensation, you earn rewards from the proof-of-stake system, primarily by letting you earn interest in the form of even more cryptocurrency.
Is Staking XRP Possible?
The Ripple platform does not generally support staking itself due to the risk involved.
However, a platform like coinpass can provide a way to start earning interest in a large amount as staking rewards - and they support XRP as a currency. (read more: https://coinpass.com/en/blog/academy/can-you-stake-xrp)…
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