Attempting to choose a Ripple wallet can be a daunting task, especially when one considers the breadth of choices now on the market. While some people prefer wallets that allow them to send and receive XRP on the go, others put security at the top of their priority list. Either way, in our Best Ripple Wallets guide, we are going to review five of the very best options—so you can choose which one is right for you!
We will cover a variety of wallet types, including a desktop, a mobile and a hardware wallet. Moreover, we’ll cover some of the most important advantages and disadvantages of each wallet, which will allow you to make an informed decision based on your individual needs. Before getting into specific wallets, let’s take a quick look at some of the important factors that we think you should consider when looking for the best Ripple wallets:
What to Look for in a Ripple Wallet
- Security: What security features does each wallet offer? Does it include two-factor authentication (2FA) or cold storage?
- Private Keys: When you first set up the wallet, does the wallet provider have access to your private keys?
- Cost: Do you have to reserve a minimum of 20 XRP to activate the wallet, as is industry standard? Does the wallet itself cost money?
- User-friendliness: Is the wallet suitable for those with little experience?
- Supported coins: Does the wallet support coins other than just XRP?
- Device compatibility: Is the wallet compatible with your specific device type? For example, while most desktop Ripple wallets can be used with Windows, some are not compatible with Mac.
- Convenience to transact: Is it easy to send and receive XRP from within the wallet?
So now that you know what makes a good Ripple wallet, let’s take a look at some of the best!
Edge – Best Ripple Mobile Wallet
If you are looking to make on-the-go cryptocurrency transactions, then we would recommend the Edge wallet. Edge is a multi-currency wallet that stores a wide range of different coins. This of course includes Ripple, as well as the likes of Bitcoin, Litecoin, Bitcoin Cash and Monero. Moreover, the wallet is also compatible with a good selection of ERC-20 coins.
The Edge wallet is available to download for free across both Android and iPhone, however, Windows is not supported.
In terms of security, Edge offers 2FA, which requires you to enter in a pass code sent to your mobile device in order to log-in. Beyond this, your private keys will be stored locally on your device, out of reach from Edge (or anyone else). Finally, the underlying code of the Edge wallet is available to view online as open source, which ensures an element of transparency exists.
A really cool feature available within the Edge wallet is the Glidera API. This allows you to purchase cryptocurrencies from within the wallet itself, meaning you don’t need to visit a third-party exchange.
To top if all off, Edge is extremely simply to use, making it perfect for beginners!
If, for whatever reason, you aren’t sold on Edge, we have also listed an alternative mobile wallet for Ripple, which you can view below:
- Uphold: A multi-currency Ripple wallet that supports over 30 different cryptocurrencies. Although somewhat centralized, the wallet offers excellent security and the company behind it is regulated.
Toast – Best Ripple Desktop Wallet
Toast is a free cryptocurrency desktop wallet that specializes purely in XRP, meaning you will not be able to use Toast to store other coins. The Toast wallet is available to download for free across multiple desktop device types, including Windows, Mac and even Linux. Moreover, the wallet is also compatible with Android and iPhone, meaning you can synchronize your holdings on the go.
In terms of security, Toast does not offer 2FA; however, the company behind the wallet does not have access to your private keys, because the keys are stored locally on your device. The wallet is also protected by a user-generated PIN number that you will be required to enter each time you log in.
When it comes to user-friendliness, the Toast desktop wallet is extremely simple to use, making it a perfect choice for beginners.
Based in New Zealand, the Toast team also offers customer support through a range of mediums, including phone, email, Discord and Facebook. If you are wondering how they make money – they currently don’t. The team states that they are currently focused on building a brand and planning to offer XRP-related services in the distant future.
So now that you know about the best Ripple wallets for both mobile and desktop devices, let’s take a look at the best hardware wallet!
Ledger Nano S – Best Ripple Hardware Wallet
If you are looking for the most secure way to store your Ripple tokens, then the Ledger Nano S is by far the best option. The Ledge Nano S is a hardware wallet that stores your coins in offline cold storage, making it virtually impossible to hack. Every time you access the wallet to check your balance or send XRP, you will be required to physically enter a PIN number on to the device. What this means is that even if the device were stolen, your funds would still be inaccessible, giving you enough time to remotely transfer the coins out using your backup passphrase.
Because the Ledger Nano S is a physical hardware device, the wallet will set you back around $100. However, if you are holding a large bag of XRP, then it is most definitely worth it. On top of supporting Ripple, the Ledger Nano S supports more than 700 different cryptocurrencies, meaning you could theoretically secure all of your cryptocurrency holdings in one place.
A disadvantage to using a hardware wallet to store your Ripple tokens is that it does not offer you the option to send or receives funds on the go. You need to physically plug the Ledger Nano S in to a desktop or laptop computer each time you want to use it, so the Ledger Nano S is better suited if you are looking to store coins long-term.
If you are unsure on the Ledger Nano S, it might be worth taking a look at the following alternative.
- Trezor: The Trezor hardware wallet is a direct competitor to the Ledger Nano S and also retails at around $100. Offers similar security features to the Nano Ledger S, superior ease of use, and an inferior number of coins.
Now that we’ve covered the Ledger Nano S, in the next part of our Best Ripple Wallets guide we are going to discuss Cryptonator!
Cryptonator – Best Online Wallet
Although online wallets are the least secure wallet type, they can be a handy option for ultra-fast transactions. Just make sure that you only store small amounts! If an online wallet is what you are looking for, then we would suggest taking a look at Cryptonator.
The wallet is a multi-currency wallet that allows you to store 19 different coins, including Zcash, Ethereum, Bitcoin, Dash and of course, Ripple. The platform is very user-friendly and it is free to use. As Cryptonator is an online wallet, you can access it from any device type through a web browser. In terms of security, you have the ability to set up 2FA and the website uses an encrypted SSL connection.
It is important to note that as per the terms and conditions outlined on the Cryptonator website, if you do not log in to your account for a period of 180 days, your account will be marked as dormant. If this is the case, you will need to contact the customer support team to retrieve your funds.
On top of allowing you to store your XRP tokens, the Cryptonator platform also facilitates trading from within your wallet. Although they state that no fees are charged, you should always check the exchange rate being offered.
A Note on Ripple (XRP) Wallets’ 20 XRP Activation Fee
If you are new to Ripple wallets, you might be surprised to learn that unlike the vast majority of other cryptocurrencies, obtaining a wallet address is not free. Essentially, in order to activate a new XRP wallet, you need to deposit a minimum of 20 XRP. This 20 XRP must remain in the wallet at all times; it cannot be withdrawn, nor can it be sent to another address.
For example, if you deposited 50 XRP in to your new Ripple wallet, although your balance will show as 50 XRP, you will only be able to use 30 XRP of it. As a result, it is a direct fee that must be paid to activate a new wallet. The Ripple team claims that this is to protect the ledger from spam.
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