Ripple (XRP) is the third largest cryptocurrency in terms of market capitalization after Bitcoin and Ethereum. And, in fact, XRP transactions are faster of them all: on average a transaction just takes 4 seconds to confirm. But it’s not as decentralized as Bitcoin or Ethereum though.
With the blazing speed of transactions, it would be effortless for anyone to send and receive money in XRP. You need, however, a wallet to store XRP. Trusting a Cryptocurrency exchange might cripple you at times. Exchanges are often the targets of hackers, and sometimes transacting directly from an exchange would be a time-consuming process. Instead, having your XRP in a wallet that you can control would be helpful.
Here we suggest the best Ripple wallets.
Ledger Nano S – Hardware Wallet
In the crypto-world, hardware wallets are the most secure ones. Even if you use a computer infected with malware with a hardware wallet, you will not run into any trouble.
Why are hardware wallets so secure?
The transactions are signed inside the wallet. So, the private keys will not be exposed.
- Your tokens are stored offline
- Almost impossible for hackers to steal your funds
- PIN set up, in the beginning, adds an extra layer of confidence
And we recommend Ledger Nano S – a pen drive sized wallet that you can connect to a PC for transacting, and you can store your funds safely in it.
Why Ledger Nano S?
Full support for all the cryptocurrencies that can be stored in the wallet. Meaning, you’ll have integrated software support whenever you connect the wallet to a PC or Mac. So, not only for XRP, you’ll find Ledger Nano S to be more comfortable to use with any supported currency.
What if you had lost your Ledger Nano S?
While setting up your wallet, you’ll be requested to note down a phrase. That is nothing but a child key with which you can restore your funds even when you had lost the hardware wallet. So, keep your phrase in a safe and highly secure place.
Toast Wallet – Cold Storage
Having a hardware wallet is great – but it’s a little costly, and you always need a PC to transact. What if you want to transact on the go with your mobile?
Toast wallet is the perfect solution. It’s free and supports a variety of platforms including iOS, Windows, Mac, Linux, and Android. Also, it’s a cold storage wallet, meaning the coins will be stored on your mobile, and you’ll be in complete control of your XRP.
Yes, there are web wallets like GateHub that secure your keys with industry grade hashing and encryption. Moreover, even the GateHub authorities cannot access your funds. And exchanges available like Bitfinex, HitBTC, and Binance that support XRP. But it’s hard to trust and store massive amounts of funds with a cryptocurrency exchange when you are hearing about thefts like that of Coincheck now and then.
Our focus, however, is to let you know and understand the wallets that put you in the driver seat with utmost security and flexibility.