Ripple happens to be the most hated coin in the cryptocurrency market. It brings in the banks and becomes almost a bridge between the crypto world and the banking system, which a lot of crypto fans seem principled against. Its involvement and integration of banks into the system makes it a very fiat-like cryptocoin. But it is for this very reason that Ripple fans stick with it, since the banking system lends it authority and the fact that Ripple can be a neat way to transfer your money to your bank account.
Anyway, given how many are clueless about cryptocurrency wallets especially for a coin regarded as remarkable as Ripple, we decided to look some up and come up with a list of suggestions. Here are five we found offering something out of the ordinary. But first…
Why is it twice as important to pick the right Ripple Wallet?
Ripple technology necessitates that you keep 20 Ripple in store in each wallet you configure to store the coin. This is a means of preventing scammers which can otherwise artificially influence coin values or otherwise undermine the coin and its prospects. So if you have 50 Ripple coins, you can only shift 30 to another wallet, either as payment or when changing to a different wallet service. The next time, you’re only left with 10. This is why it is important to choose your first wallet wisely and minimise the number of tries, so you don’t lose coins and end up finding your investments wasted.
1. Ledger (Best Hardware Wallet)
Ledger Nano S is sure to steal your heart with its tiny size, USB like design and the cute screen that displays your information for you. The hardware wallet isn’t just designed to look cute though, it is among the most secure wallets available. Your transactions are secured inside the device, and you can verify them through the display on the screen by merely pressing a button. It is fairly easy to authenticate and operate, and replication or tampering with it is pretty tough. It’s the ideal way to store Ripple coins.
2. XRP Cold Wallet (Best for Cold Storage)
If you’re looking to use Ripple as a long term investment, increasing the investment you put in through the march of time and the influence of market forces, XRP Cold Wallet is the best option given it can be whipped up by oneself in a matter of minutes, thus making it extremely safe, though it also places the onus of device safety on the customer. You may choose to validate the account though it is not always essential; it is fairly easy to do, so might as well get it done with.
3. Trezor (Another Amazing Hardware Wallet)
This little wallet fits in an actual wallet owing to its tiny size, and it can carry multiple cryptocurrencies, which is why it is widely used by customers of various coins. The advantages of a hardware wallet are enhanced with trezor since it connects to virtually every device using a USB cable (if you prefer trading on your mobile, you may additionally need an OTG). There is the distinct benefit of having your money available to you outside of hard cash or stashed on an exchange, both of which have their distinct vulnerabilities. Plus Trezor is fairly simple to use which makes it ideal for investors who aren’t very tech savvy.
4. Toast Wallet
I’ve seen Toast praised a lot of places there is mention of Rippex, and it makes sense that people see it that way; after all, it is multi-platform, has a more familiar smartphone-like interface and makes a lot other benefits on cryptocurrency a lot more evident. Toast is also perhaps the most frequently updated wallet software which is a good sign since it assures there is a team working hard behind the scenes to make the platform more and more secure. What else does one need? There is also a way to recover xrp, which is not available in many coins and many coin wallets.
5. Rippex (good Desktop option)
Rippex is almost like using a bank form, which is what makes it so comfortable to use for a lot of newbies who’ve just entered the crypto scene as well as seasoned players. Downloading it is fairly straightforward, and it is almost like having a bank teller machine on your desktop. The interface might bore a few people, though. But it is certainly superior to generic wallets.
There are a bunch more options in the market, of course. There’s Gatehun and Bithomp, and then of course the possibility to stash Ripple on an exchange which isn’t safe, but then Ripple isn’t exactly where all the action’s at. Still, we recommend using a wallet to store your Ripple, despite the 20 XRP price that currently prevails on storage. The safer your investments, the easier life will seem, especially in the face of the very volatile cryptocurrency scene.