5 Ways You Can ‘Stake’ XRP

Last updated on January 28th, 2022

You’ve just bought some XRP tokens and may be looking to stake them to earn more XRP.

However, XRP is not a Proof of Stake token, so you technically aren’t able to stake XRP tokens to earn rewards!

Instead, there are some platforms that allow you to lend out your XRP tokens to earn interest instead.

How to stake XRP

Here are 5 ways you can stake your XRP tokens:

1. Celsius
2. Nexo
3. Crypto.com
4. Binance Earn
5. AAX

This is a summary of all of the methods,

Platform	Minimum Deposit	Lock-In Period
Celsius	None	Flexible
Nexo	None	Flexible
Crypto.com	450 XRP	Flexible, 1 / 3 months
Binance	0.1 XRP	Flexible
AAX	200 XRP	Flexible, 7 / 14 / 30 days

and here is each method explained in-depth:

Celsius

Celsius was founded in 2017 and is headquartered in New York. Here’s how you can start earning interest on this platform:

Go to ‘Menu → Transfer’ on Celsius

When you’re on the Celsius app, you would need to go to the Celsius menu and tap on ‘Transfer‘.

Select XRP from the dropdown menu

When you’re on this screen, you’ll need to select the currency that you wish to transfer into Celsius.

Copy the XRP deposit address from the Celsius app

After you select a currency, you will be given a wallet address.

Your wallet address is one long string of letters and numbers. It is very important that you copy it letter by letter! If you make any mistake in the wallet address, your crypto will be lost forever!

As such, the best way will be to copy your wallet address directly.

If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.

This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!

When you are sending XRP, you will need to include these 2 items:

• Deposit address
• Destination tag

If you do not include the destination tag, there is a chance that your crypto may be lost!

After you’ve deposited XRP to Celsius, you will start earning interest on it.

Verdict

Here are some of the key features when you’re earning interest from Celsius:

Minimum Deposit	None
Lock-Up Period	None

Celsius is a flexible way to earn interest on XRP. Moreover, withdrawals from Celsius are free, which helps you to save a lot on fees!

As such, Celsius is a great platform to consider if you only have a small sum of XRP.

Nexo

Nexo is another platform where you can earn interest on XRP.

If you are looking to send XRP to your Nexo account, you can view my article here.

After you’ve deposited XRP to Nexo, you will start earning interest on it right away.

Verdict

Here are some of the key features when you’re earning interest from Nexo:

Minimum Deposit	None
Lock-Up Period	None

Similar to Celsius, you are able to earn interest on XRP with no minimum deposit.

Crypto.com

Crypto.com was founded in June 2016. They are based in Hong Kong, and serves over 10 million customers.

Here’s how you can earn interest on XRP on their app:

Go to ‘Earn’ on the Crypto.com App

To start lending your crypto, you will need to go to the ‘Earn’ tab.

Select the ‘+’ sign and select XRP as the currency you want to lend

After that, you’ll need to select the ‘+’ sign on Crypto Earn,

and then select XRP as the currency that you wish to deposit.

Select the term that you wish to lend XRP

After that, you will need to select the term that you wish to lend out XRP.

There are 3 different terms:

1. Flexible
2. 1 Month
3. 3 Months

For the flexible term, you are able to withdraw XRP at any time. However, the interest that you earn is much lower.

If you choose either the 1 month or 3 month term, the XRP that you deposit will be locked up for that period of time.

Even if the price of XRP starts to change, you will be unable to sell it!

However, the benefit is that you will be able to earn a higher interest compared to the flexible term.

Another factor that affects the interest that you earn is the amount of CRO that you staked on the Crypto.com App:

Term	Interest Rate
Flexible (Ruby or Lower)	0.5%
Flexible (Jade Green or Higher)	1%
1 Month (Ruby or Lower)	1%
1 Month (Jade Green or Higher)	2%
3 Months (Ruby or Lower)	2%
3 Months (Jade Green or Higher)	3%

The amount of CRO that you stake depends on which Crypto.com Visa card you wish to own.

If you own the Ruby Steel card, you will be able to receive a CRO rebate if you use the Crypto.com Visa card to pay for Spotify!

Agree to the terms and conditions of Crypto.com Earn

There are certain Terms and Conditions that you’ll need to accept.

By accepting the Earn and Credit T&Cs, you are accepting the risks involved with lending your crypto. There could be a risk that you will lose all of your cryptocurrency if Crypto.com closes down as well!

Select the amount of XRP that you wish to lend out

The last part is that you’ll need to select the amount of XRP that you wish to deposit to Crypto.com Earn.

You are required to deposit a minimum of 450 XRP to use this feature. This is quite a huge sum, and you are unable to deposit any sum that is smaller than that!

After confirming your deposit, you will reach this confirmation page.

Verdict

Here are some of the key features when you’re earning interest from Crypto.com:

Minimum Deposit	450 XRP
Lock-Up Period	Flexible, 1 / 3 months

You are able to choose the lock-up period, depending on the flexibility you wish to have with your XRP funds.

However, the shorter the term, the lower the interest you’ll receive!

Moreover, Crypto.com requires quite a large minimum deposit of 450 XRP, which can be quite a huge sum!

Crypto.com’s Earn is more suitable if you have a large amount of XRP and are thinking of holding it so that it’ll increase in value in the long term.

Binance Earn

Binance is one of the largest cryptocurrency exchanges in the world, and they have an Earn program where you can earn interest on XRP as well.

Here’s how you can earn interest on XRP with Binance Earn:

1. Go to ‘Wallets’ and then select ‘Earn’
2. Select ‘Subscribe’ and search for XRP
3. Select your preferred term for lending out XRP
4. Enter the transaction details

Go to ‘Wallets’ and then select ‘Earn’

On the home page of Binance, you’ll need to go to the ‘Wallets‘ tab and select Earn.

Select ‘Subscribe’ and search for XRP

Binance offers a variety of savings products for different cryptocurrencies. You will need to search for XRP.

Select your preferred term for lending out XRP

This will allow you to view some of the savings products that Binance offers for XRP.

Currently, Binance only offers a flexible savings plan where you can withdraw your funds at any time. However, the interest rate offered may be lower compared to other platforms.

Enter the transaction details

The last step you’ll need to do is to enter the amount of XRP you wish to subscribe to the savings plan.

After this, the XRP that you’ve deposited will start earning interest from the next day onwards.

Verdict

Here are some of the key features when you’re earning interest from Binance:

Minimum Deposit	0.1 XRP
Lock-Up Period	Flexible

Binance currently only offers a flexible lockup period for XRP. The interest rate is low, but you are free to redeem your funds almost instantly.

As such, Binance is a good choice if you intend to quickly cash in on your profits.

AAX

AAX is a platform where you can earn a decent amount of interest on XRP too.

However, you will need to lock up your funds if you want to earn a higher interest rate.

Here’s how you can earn interest on XRP with AAX:

1. Go to ‘Assets’
2. Select the ‘Savings’ tab and select ‘Buy Savings’
3. Search for XRP
4. Select the term and enter the transaction details

#1 Go to ‘Assets’

First, you’ll need to go to the Assets tab on AAX.

#2 Select the ‘Savings’ tab and select ‘Buy Savings’

After that, select the Savings tab,

and then select ‘Buy Savings‘.

#3 Search for XRP

This will bring you to the AAX Savings page.

You will need to search for XRP,

which will show all of the available terms.

AAX offers both fixed and flexible terms.

#4 Select the term and enter the transaction details

After selecting the term that you wish to subscribe to, you will need to select the amount of XRP that you wish to deposit.

Verdict

Here are some of the key features when you’re earning interest from AAX:

Minimum Deposit	200 XRP
Lock-Up Period	Flexible, 7 / 14 / 30 days

AAX has the highest minimum deposit required out of all platforms. As such, it will only be useful if you own quite a huge amount of XRP.

Conclusion

While you can’t stake XRP, you still can lend out your funds to earn some interest.

This is similar to how you would lend out MANA instead of staking it.

When you are considering the best platform, the 2 main considerations you should have include:

1. The minimum amount required to start earning interest
2. The lockup period when subscribing to a savings plan

👉🏻 Referral Deals

If you are interested in signing up for any of the products mentioned above, you can check them out below!

Nexo Referral (Earn USD$25 in BTC)

If you are interested in signing up for a Nexo account, you can use my referral link. You will receive USD$25 in BTC after holding $100 or more in assets for the next 30 days.

Here’s what you need to do:

1. Sign up for a Nexo account
2. Complete the Advanced Verification on Nexo
3. Transfer ≥ $100 worth of assets into Nexo
4. Hold these assets for at least 30 days

You will receive your BTC reward in the next 30 days!

You can view more information about this promotion on Nexo’s website.

Crypto.com Referral (Get up to $25 USD worth of CRO)

If you are interested in signing up for Crypto.com, you can use my referral link and enter the code ‘x2kfzusxq6‘.

We will both receive $25 USD worth of CRO in our Crypto Wallet.

Here’s what you’ll need to do:

1. Sign up for a Crypto.com account
2. Enter my referral code: ‘x2kfzusxq6‘
3. Stake enough CRO to unlock a Ruby Steel card or higher

The amount of CRO that you need to stake depends on the card you wish to get, and the currency you are staking in.

You can read more about the referral program on Crypto.com’s website.

Binance Referral (Receive 5% off your trading fees)

If you are interested in signing up for a Binance account, you can use my referral link.

You will be able to receive 5% off all of your trading fees on Binance!

Are you passionate about personal finance and want to earn some flexible income?