A common mistake new digital currency users commit is leaving their coins lying around unprotected on an exchange, which, if hacked, would mean that users lose all of their money. Ripple wallets enable users to have complete control over their XRP assets.
There are different types of Ripple wallets available in today’s market, and many crypto platforms buy and store Ripple on their exchange, as per the Ripple news. Unlike free Bitcoin wallets, Ripple wallets charge 20XRP per user to book their wallet address.
Given below are the different wallet types and their strengths.
Hardware Wallets
- USB devices that are tamper-proof and compact
- Enable users to store their cryptocurrencies offline
- Generate private keys and e-signatures offline, and within the device itself making them hacker-proof
- Modern versions come with a screen that aids in double-check and sign off for exchanges, and a recovery phrase that helps users restore their assets in situations where the wallet gets stolen, lost or tampered with.
- Example: Ledger Nano S
Features of Ledger Nano S
- Connects to desktop, iOS, and Android
- Secures data via a 4-digit PIN code
- Comes with built-in hard and display buttons that allow users to access their accounts easily
- Supports different cryptocurrencies in the same wallet at once
- Is malware-proof (Ripple wallet initiation and restoration are done separately in the device)
Software Wallets
- The most common way to store crypto funds comes in many forms. There are online wallets, and also apps for smartphones, PCs running on different operating systems, and browser extensions.
- Examples of best mobile wallets include Abra wallet, Atomic Wallet, and Toast Wallet.
Features of Atomic and Toast wallets
Atomic
- Provides exceptional security (i.e., private keys are encoded on the smartphone)
- Offers instant exchange of token and coins in just one click
- Is decentralized and provides anonymity (i.e., no verification is needed)
- Has an advanced membership program based on AWC-BEP2 (a native Atomic wallet token)? The program offers monthly cashback to token holders who use a built-in exchange service.
- Has a 24/7 Live Support feature
- Comes with a handy and smooth user interface and features
- Compatible with both Android and iOS
Toast
- Enables quick and easy transaction of XRPs
- Allows users to view their transactions and account balances
- Comes with heavily encrypted keys that offer ironclad protection to smartphones
- Allows users to generate backup after creating Ripple address (useful even when mobile is lost/stolen)
- Compatible with both Android and iOS
Desktop Wallets
Examples of some of the best desktop wallets include Rippex, Exarpy, and CoinPayments.
Features of Rippex, Exarpy, and CoinPayments Wallets
Rippex
- Follows a strict two-step verification process and charges a low transaction fee
- Supports fiat currencies (dollars, euros, yen)
- Runs on Mac, Windows, and Linux
Exarpy
- Stores XRPs along with other cryptocurrencies
- Uses multisig technology for quicker transactions
- Allows the conversion crypto coins to fiat coins such as euro and dollar
- Facilitates easy navigation and comes with a user-friendly interface
- Has integrated with Magento 2 platform and stores coins in Magento 2 crypto wallets
- Runs on any web browser
CoinPayments
- Has integrated with Changelly exchange service that allows users to purchase more Ripple
- Charges a low fee of 0.025 Ripple per transaction
- Runs on any web browser
The Top Five Best Wallets for Ripple Cryptocurrency
| Edge | Multi-Asset support, in-app fiat-to-crypto and crypto-to-crypto exchange capabilities, access to the master private key, supports XRP’s destination tag and provides customer support on social media platforms and other channels |
| Gatehub | Allows instant payments, enables trading of XRPs and other currencies on a single platform and provides wallet statistics and net amount in real-time. |
| Cryptonator | uses a two-factor authentication (2FA) system and all user data is hashed by the SHA-256 algorithm, easy and direct transactions, and supports 15 cryptocurrencies. |
| Uphold | Supports a variety of cryptos, allows instant buy via debit/credit cards, and uses multiple security measures to safeguard user accounts. |
| Guarda | Supports over 30 cryptocurrencies, allows access to private keys, and comes with a built-in exchange |
Personal Choice
Remember to always research properly for the security and other important features of the chosen wallet. Even though it is Ripple cryptocurrency, it is still an asset worth protecting. Apart from that, If you are more interested in Ripple (XRP) then you can check out our live price chart along with Ripple Price Prediction.
