Over the last few months, Ripple (XRP) has emerged as one of the most promising cryptocurrencies. If you are looking to invest in Ripple, you might be wondering about a good wallet to store it. In this article, I will suggest a couple of popular and secure Ripple wallets that you can use.
It is important to note here that because of a Ripple network restriction, you need at least 20 Ripple aka XRP to activate any new wallet. Also, the Ripple network requires a minimum 20 XRP balance at all times, so if you change your Ripple wallet, you will end up losing the 20 XRP. Therefore, choose one of the following wallets and stick to it.
Best Ripple wallets
Toast is a very popular and secure wallet for Ripple. It offers both mobile version (Android and iOS) and desktop version (Windows, Mac and Linux). I will recommend you go for the desktop version. It is safer than holding your Ripple in a mobile device. However, if you are looking to store your Ripple for just a small duration, mobile versions of the Toast are fine as well.
Toast is fairly easy to use and quick to setup.
Ledger Nano S
While desktop wallets are fine for smaller holdings, if you have lots of Ripple (XRP), I will suggest that you go for a hardware wallet. Hardware wallets are more secure and keep your cryptocurrency safe. Trezor and Ledger Nano S are two of the most popular hardware cryptocurrency wallets right now, but Trezor doesn’t support Ripple at this point. So, Ledger Nano S is the one you should go for.
Unlike desktop or mobile wallets, hardware wallets cost money, but they are the safest option you have in terms of storing Ripple. Ledger Nano S is priced at 58 euros.
Ripple wallet FAQs
Is there an online wallet for Ripple?
Yes, there are a few. Gatehub is the one of the popular ones. But, I don’t recommend storing Ripple or any other cryptocurrency in an online wallet (third-party or exchange) more than a day or two. So, rather than going for an online wallet, use the desktop or mobile wallet suggested above. If you are insistent on using an online wallet, Gatehub is the best option for you.
Why are desktop wallets good or bad?
Desktop wallets are secure and unless your computer becomes infected with a virus or malware, your stored cryptocurrency is safe. Also, they are free. The desktop wallets are however not the most convenient because you need access to your computer to perform a transaction. If you are out of station and don’t have your computer with you, you won’t be able to use your wallet.
Why are hardware wallets good or bad?
Hardware wallets are the most secure way of storing any cryptocurrency. Without physical access to your wallet and PIN, nobody can steal your coins. However, they cost money and for smaller investors there is no point buying a wallet for $70, especially if they only have $100 or $200 in crypto.
Now, if you are looking to buy some Ripple coins, here is a guide on how to quickly and securely buy Ripple using a credit card.
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