Having money lie idle on an account is a missed opportunity to earn more, and the same goes for cryptocurrencies such as XRP. In fact, anyone can start earning a passive income on their XRP tokens in several simple steps. Today, we will discover how to earn interest on XRP and determine which platform provides the best XRP annual percentage yield (APY).
About XRP
XRP (XRP) is a cryptocurrency designed by Ripple to provide fast and low-cost international payments. Its primary features are near-instant transaction speeds and a high maximum volume of transactions, making it much more efficient than the established traditional banking systems.
Unlike Bitcoin and Ethereum, XRP is pre-mined with a fixed supply of 100 billion tokens. Additionally, it uses Ripple’s consensus algorithm rather than proof-of-stake or proof-of-worth, which speeds up transactions and uses less energy.
The token has recently surged in popularity and value, almost tripling in price in less than a week. Furthermore, the momentum shows no signs of decline, and cryptocurrency investors hope the token will break the all-time high record from 2018.
So, are you interested in activating your tokens to earn interest? Let’s dig right into it, beginning with finding the best place to buy XRP and the platform with the best XRP APY.
Choosing the right platform
To start earning interest on your XRP, you need to have a certain number of tokens first. If you don’t already have them, head down to the platform of your choice and buy some. Once you get them, you are ready to earn interest on XRP. Several platforms provide this option, with differing rates:
| Platform | APY |
| Nexo | Up to 12% |
| Nebeus | Up to 4.5% |
| Finblox | Up to 3% |
| Bitget | Up to 0.36% |
As seen above, Nexo is the platform with the best XRP APY. Established in 2018, Nexo is a cryptocurrency platform with a range of services that supports over 80 digital assets, including XRP. It specializes in trading, lending, and competitive interest rates compared to other platforms on the market.
While you can opt for any platform, the following steps on how to earn interest on XRP will center on Nexo. Let’s dive in.
How to earn interest on XRP: Step-by-step
Below is a straightforward guide on how to earn interest on XRP. Just follow these simple steps:
Step 1: Create and verify an account
The first step is to register an account on Nexo’s homepage. You can also download its app from Google Play (for Android users) or the App Store (for iPhone users). Alternatively, you can download the APK file directly from its website. You need an email address to register an account, then verify it using an identity document.
Step 2: Buy or transfer XRP to your account
Next, you need to establish a supply of XRP to receive interest on it. You can transfer assets to your account or buy crypto directly from the platform.
Nexo allows you to earn interest on a dozen cryptocurrencies. While this guide focuses on XRP only, we should note that they have attractive rates on other tokens as well.
Step 3: Start earning interest
After a minimum of 24 hours, your XRP tokens will start earning interest, which is paid out daily and automatically added to your Nexo savings wallet.
Nexo’s annual interest rates
Nexo provides an APY of up to 12%, depending on several factors:
- Loyalty tier: Depending on the percentage of NEXO tokens, there are four loyalty tiers: Base (less than 1%), Silver (1-5%), Gold (5-10%), and Platinum (over 10%);
- Payout currency: If you choose to receive interest in NEXO, you can get up to a 2% bonus interest rate;
- Savings preference: Different rates apply for flexible and fixed-term savings.
Tips to maximize your XRP earnings and avoid risk
Earning interest on XRp is a passive income, which poses much less risk than active crypto trading. Here are some tips on how to get the most out of your XRP tokens:
- Lending XRP. Like the process we described, lending XRP is one of the best ways to earn interest. That said, make sure you pick a trustworthy platform with competitive rates, like Nexo;
- DeFi: Although XRP does not have significant smart contract support, some DeFi platforms might provide liquidity pooling options or utilities for the wrapped version of the token. Make sure to research the service thoroughly before committing your crypto;
- Compound interest. It is not a big secret in investing that compound interest creates wealth, given enough time. Make sure that your passive income source provides compound interest, as the Nexo platform does;
- Regulatory risk. In December 2024, Ripple achieved a milestone in the ongoing lawsuit with the SEC, which caused a surge in its price. Although it is an essential step toward resolving the case, the conclusion is yet to be made. There is much reason for optimism, but remember that the case is still not closed;
- Avoid scams and frauds. All cryptocurrencies, including XRP, are susceptible to scams and fraud if the person conducting the crypto trade has little knowledge about the topic. Never trust dodgy characters and too-good-to-be-true offers. Always use a trustworthy and established platform, like Nexo;
Conclusion
Ripple’s native token has witnessed an unprecedented price surge after a new milestone in the lawsuit against the SEC. There’s ample (and growing) opportunity for XRP trades. Furthermore, investors can leverage their supply of tokens to earn interest on XRP.
To earn interest on XRP, you just need a trustworthy platform with an attractive annual rate. Our choice is Nexo, which also has the best XRP APY rate on the market. Furthermore, it has an established reputation and many years of experience. You can make their idle crypto supply earn significant interest with Nexo in several simple steps. Hopefully, our guide will help you do precisely that.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs on how to earn interest on XRP
What is XRP?
XRP is Ripple’s digital token that fosters fast and energy-efficient digital transactions. Its primary features are near-instant transaction speeds, high transaction volume, and energy efficiency, making it a better alternative to traditional banking systems.
Can I earn interest on XRP?
Yes, you can start earning interest on XRP in several straightforward steps. Our recommended platform is Nexo, which is secure and offers the best XRP APY.
How to earn interest on XRP?
You can quickly start earning interest on XRP in four simple steps. First, you have to find an optimal platform that supports earning interest on the token. Next, you need to register and verify an account. Third, transfer XRP to the platform’s wallet or buy it directly. Finally, your supply of XRP will start earning a passive income as soon as the transaction settles with the platform.
How to earn passive income on XRP?
There are several ways to earn passive income on XRP, including lending, certain DeFi applications, and using the wrapped wXRP tokens pegged 1:1 to XRP. We recommend lending your XRP with Nexo, as it has the best XRP APY rate on the market.
Do I need expert knowledge of crypto to start earning interest on XRP?
You do not need expert crypto knowledge to earn passive income on a verified platform like Nexo. However, never participate in a crypto scheme if you are not familiar with the topic.
