Ripple Ideally designed for large-scale entities transacting in high volumes, Ripple offers a robust and lightning-speed transaction system, effortlessly handling up to 1,000 transactions per second—rivalling major players like VISA and Mastercard.
With transaction costs being minimal, Ripple refers to both the company and its digital currency. Ripple (XRP) Ripple also features a bespoke sidechain known as the Ripple Transactions Protocol, casually termed the Ripple network. This protocol uniquely blocks chargebacks, meaning once a transaction is made, it is irreversible.
Uniquely, Ripple refrains from officially endorsing any wallets. The onus remains on users to diligently identify trustworthy wallet providers.
Important Note on Ripple Wallets: Unlike Bitcoin, Ripple users must hold at least 20 XRP in their wallet to activate it on the Ripple Ledger.
In this walkthrough, we evaluate numerous secure options for storing Ripple XRP—covering Hardware, Web Wallets, Software, and Paper Wallets.
Hardware Wallets
Ledger Nano S
This versatile hardware wallet Frequently spotlighted in wallet reviews, this France-based company has been innovating in the cryptocurrency hardware space since 2014, offering support for Ripple and numerous other digital coins. Bitcoin , DASH , Ethereum alongside a wide array of other digital assets.
The standout feature of this device is its enhanced security; your private keys remain inaccessible to hackers as they are stored inside the device itself, accessibly only via a personal PIN code. It's compatible with Windows 7+, Mac OSX, Linux, and Chrome OS—perfect for Chromebook users.
To use the Ledger, a specialized Google Chrome extension must be installed. The device, built from brushed stainless steel and plastic, connects via USB to your computer and also interfaces with smartphones.
Desktop Wallets
Atomic Wallet
Atomic Wallet stands out as a non-custodial desktop tool, supporting XRP alongside a vast array of 300+ other cryptocurrencies.
Exceptional features of Atomic include not just XRP management but also the ability to trade XRP through an integrated Changelly-powered exchange engine, and purchase XRP with a bank card. With a simple interface wrapped in security through a mnemonic seed created at first launch, it offers full control over your funds with encrypted private keys. The desktop version runs on Windows, MacOS, Ubuntu, Debian, and Fedora, while Android and iOS apps were due in December 2018.
Rippex
The Rippex wallet, derived from Ripple's Desktop Wallet, is a trailblazing open-source software wallet developed by Ripple. Available for download across Windows, OSX, and Linux, its source code is on GitHub for developers who might want to customize it further. As a beta product, it still features some bugs, so caution is advised. Private keys stay on the computer, offering increased security over web wallets, although malware risks persist. Its unlimited XRP transaction capacity is a notable benefit.
Web Wallets
Exarpy
A rather unique choice, this wallet isn't downloaded but is a web-based desktop wallet, adaptable for mobile via responsive site design. Though Exarpy doesn't physically store your funds, it facilitates transactions on the Ripple network, applying a flat 0.025XRP fee per transaction inclusive of Ripple's network fee—keeping costs transparent. Just like a bank account, it secures with a 16-digit PIN, essential for account access and unrecoverable if misplaced.
Cryptonator
Cryptonator offers a multicurrency solution that embraces XRP, accessible on any web-enabled device. Featuring low-exchange XRP rates for other cryptocurrencies, security is preserved via SSL and 2FA, which prompts with a one-time password for added protection. Moreover, it blocks dubious IP addresses trying account access.
GateHub
Web-based wallets gain favour within the Ripple community. Users need to fund with a minimum of 20 XRP, or an equivalent in Bitcoin, Ethereum, Ethereum Classic, or Augur. A bank deposit is also possible, while the online nature facilitates trading and cryptocurrency conversion through GateHub—ideal for beginner XRP users with its straightforward interface and user-friendly functionality.
CoinPayments
This web option provides an accessible entry point for Ripple wallet newcomers, supporting numerous cryptocurrencies. Funds are safeguarded in a hot wallet, differentiated from hardware 'cold wallets'. Attractive for its low 0.5% transaction fee across all dealings, it brands itself as a payment gateway with capabilities for currency conversion and multi-feature payments.
Mobile Wallets
Toast Wallet!
With an exclamation mark in its name, this vibrant mobile wallet is open-source and available on both Android and iOS, with desktop variants for Windows, OSX, and Linux. Known for its clean, user-friendly interface and excellent security, it ensures private keys reside securely on the device—away from prying cyber threats.
Paper Wallet
Considered among the safest storage options, only bested by hardware solutions, a paper wallet offers cold storage unlinked to the internet. The Minimalist Ripple Client is the go-to tool for creating a Ripple paper wallet; begin by entering a secret private key under the Identity header.
Users have the option to Generate Identity, resulting in automatically created public and private keys. Public keys generally start with 'r', while private keys appear below them.
Crucially, these keys—generated or self-chosen—must be penned down on paper as they're the sole access to one's funds. The Ripple wallet requires a preliminary 20 XRP deposit to activate, best sourced from trusted exchanges like Binance. Kraken .
Visit Minimalist Ripple Client
Conclusion
Ripple wallets operate distinctly from Bitcoin wallets; a 20 XRP minimum is necessary for activation, designed to manage the global ledger size and deter malicious wallet usage.
For those prioritizing privacy, hardware and paper wallets offer the highest security. Still, mobile and web wallets are pervasive within Ripple's ecosystem, albeit riskier with online private key storage.
Research and due diligence by the user are essential when choosing wallet providers to ensure fund safety.
4Comments
Hello,
Edge Wallet Request: We propose the inclusion of Edge Wallet, a long-standing firm in crypto since 2014, originally Airbitz, now with multi-currency support.
Thanks
Hi Louis, the paper wallet recommendation is an excellent inclusion. I hadn't previously considered paper storage for XRP!
I also penned a post on the most effective free XRP wallets for iOS, Android, Mac, and Windows here: https://xrpontop.com/storing-xrp-safely-5-free-wallets.
I would love your feedback, thanks!
Nice info,
From my perspective, Bitcoin Wallets seem to be a top choice for safeguarding cryptocurrencies.
I came across claims that CEX.io doubles as a wallet (possibly hardware?), I lack technical expertise and appreciate guidance. Thanks!