The internal cryptocurrency of the Ripple network – XRP can be stored on the desktop, online, hardware, mobile, and paper wallets. Each XRP wallet online has its advantages and disadvantages, but cold storage (hardware or paper) is recommended for large amounts of funds, and for a smaller amount of working capital, an online version or opening an account on a crypto exchange is preferable.
Regardless of the choice of storage, to activate any wallet, you must have a minimum amount of 20 XRP. The exception is opening an online account on the exchange, where the entire amount will be available to the user. Coins are frozen on balance as a reserve and cannot be withdrawn. This allows you to protect the network from overload and DDOS attacks. Also, a transaction fee of 0.00001 XRP has been set for this purpose. Written-off tokens for transfers are not credited as a reward but are irretrievably destroyed.
Official Ripple Wallet
Since 2016, Ripple has not had its official version of the wallet. Also, the company does not give any recommendations on their choice. Deciding which one to choose is left to the user.
Represents a lightweight online version that does not require downloading a full copy of the blockchain registry. Popular web options for XRP include GateHub, Toast Wallet, Bitpanda, and others.
XRP mobile wallets
There are many XRP wallets available for Android and iOS mobile devices. Most of them are multi-currency. Among the frequently used Ripple are the following applications.
- Trust Wallet
It is simple and convenient, in the form of a mobile application and closely associated with the Binance crypto exchange. It works with many coins and tokens with the possibility of a profitable exchange between them.
- Toast Wallet
It is designed to store XRP with the simplest possible user interface. There are also versions for Windows, Linux, and MacOS and a browser extension for Google Chrome.
It is your best assistant in the daily use of cryptocurrencies. Store, buy, convert to EUR and pay for purchases in online/offline stores or withdraw cash from ATMs – all these operations for example to buy usdt with credit card are available to you in a couple of clicks.
Desktop wallets for Ripple are software for computers and laptops. They provide a good level of security combined with ease of use. There are two versions of desktop wallets.
- Thick – requiring a full download of the blockchain network.
- Thin (light) – is a lightweight version that does not require a full download of the blockchain.
The safest form is the “cold” storage of assets on hardware wallets. The function of protecting crypto assets on them is the highest. Applies special software and limited connectivity with other devices. Even if the device with which the hardware wallet is synchronized is infected, access to confidential data will still be closed. Trezor, Ledger, CoolWallet, KeepKey and others are popular devices for storing XRP.
What to choose
Depending on the purpose and intended use, the storage method is selected individually. For the safe storage of many funds, “cold” hardware wallets are recommended. In the case of a constant circulation of coins, the most convenient option is online versions and mobile applications.