LemonTrades
TL;DR
- No. All 100 billion XRP were created when the XRP Ledger launched in 2012. No more can ever be made.
- Instead of miners, the network uses validators that agree on transactions every few seconds. They get no XRP for it.
- Apps and websites selling “XRP mining” or “cloud mining” are a common scam. To get XRP, you buy it.
- LemonTrades tells you what moved XRP, and why, as it happens, with alerts on sharp moves.
Bitcoin pays miners in new coins. XRP doesn’t, because there are no new coins to pay.
How XRP works instead
| Bitcoin | XRP | |
|---|---|---|
| New coins | Paid to miners, 3.125 per block | None; all created in 2012 |
| Who confirms transactions | Miners using computing power | Validators that vote |
| Time to confirm | About 10 minutes a block | 3 to 5 seconds |
| Reward for confirming | New bitcoin and fees | Nothing |
| Transaction fees | Paid to miners | Destroyed, a tiny amount each time |
Because fees are destroyed, the supply of XRP shrinks very slowly over time. Most of the original 100 billion went to Ripple, which locked much of it in escrow and releases it on a schedule.
Can you run a validator?
Yes, anyone can, but it earns no XRP. Companies, universities and exchanges run validators to help keep the network reliable, not for profit.
How to get XRP
- Buy it on an exchange or broker app, such as Coinbase, Kraken or Robinhood.
- Buy a US spot XRP ETF in a brokerage account.
- Some apps and cards pay rewards in XRP, but these are small.
XRP mining scams
Fake mining apps and “cloud mining” sites promise daily XRP payouts in return for a deposit. They often show rising balances you can’t withdraw, then ask for a fee to release them. Since XRP can’t be mined, any offer to mine it is false.
Want a coin you can mine? See can you still mine bitcoin. More on XRP: is XRP a stablecoin and why XRP is dropping.
Sources
Education, not financial advice. Crypto can fall sharply and you can lose all of your money. See our disclaimer.
