Ripple is one of the top cryptocurrencies currently in circulation. It has a market cap of more than $13 billion and can be traded on every major exchange. If you're looking to trade or keep your Ripple safe, then you need a wallet. But not just any wallet will do. There are many different types of wallets out there, each with its own pros and cons.
What is Ripple Coin?
In case you haven't heard of it, Ripple is a cryptocurrency that is not just one of the most popular but also one of the most valuable cryptocurrencies. In fact, it's currently the third-largest digital currency in terms of market cap at $15 billion.
Ripple is different from some other cryptos because it does not require miners to process transactions. Instead, Ripple uses a unique consensus algorithm called "consensus," which allows for fast (3 seconds) transaction processing and greater scalability than other cryptocurrencies such as Bitcoin.
Ripple Coin was released in 2012 by Jed McCaleb and Chris Larsen, who started working on this project as early as 2004 when they created eDonkey2000, a peer-to-peer file sharing network that used trackers instead of torrents or usenet feeds like other networks at that time did so users could download content faster by finding peers directly connected to each other rather than having access limited only by bandwidth limitations imposed by their ISPs.
What is Ripple Wallet?
A Ripple wallet is a digital wallet that allows you to store, send and receive Ripple (XRP). Here are some top wallets for storing your XRP:
- Rippex desktop wallet
- Ledger Blue hardware wallet
- Gatehub web-based wallet
How to Protect your cryptocurrency?
If you want to keep your cryptocurrency safe, it's important to know how to protect it. That includes:
- Never leaving your cryptocurrency on an exchange
Exchanges are great for trading coins, but they're not the best place to store them. If an exchange gets hacked or goes out of business, you risk losing everything. To avoid this fate, move your cryptocurrency off an exchange and into a wallet that gives you full control over the security of your coins.
- Using a hardware wallet
If you have large amounts of crypto or just want total peace-of-mind when storing cryptocurrencies long term, then consider using a hardware wallet like Trezor or Ledger Nano S (the latter of which will even let users buy Ripple directly from inside the device).
Hardware wallets are small devices that allow users to securely sign transactions while making sure private keys never leave their physical wallets — so even if someone manages to steal them somehow there is no way they can access any funds without knowing both pieces at once (which is nearly impossible).
Types of Ripple Wallets
There are 5 types of ripple wallets and they are:
- Online Wallets – these are web-based wallets that allow you to store and use virtual currencies. Some of the known online wallets include Blockchain and BitGo.
- Desktop Wallets – these are software programs or applications that run on your computer. They allow you to store and manage your digital currencies offline. Some of the known desktop wallets include Rippex and Ledger Nano S (hardware wallet).
- Mobile Wallets – these mobile apps let users make payments with their smartphones which can be downloaded as free apps from Google playstore or Apple app store depending on their operating system (OS). The most popular mobile wallet for Ripples is Toast Wallet for Android users while iPhone users can use Toast Wallet iOS version.
Both versions support all kinds of tokens including XRP, BTC, ETH among others without requiring any registration process whatsoever except logging into an email address first before proceeding with making transactions between exchanges where they bought their coins from in order to transfer them into this wallet so they could sell them later at a profit if prices go up again over time after falling significantly due to volatility affecting cryptocurrency prices around late 2018 early 2019 when many companies stopped investing money into crypto projects after regulators started cracking down hard on ICOs making them illegal virtually overnight.
List of Best Ripple Wallets
There are many ripple wallets that you can use to store your cryptocurrency. The most popular types of wallets are the Gatehub, Ledger Nano S, Toastwallet, Atomic Wallet, Cobo Wallet, Free Wallet and Bithomp.
You may want to consider a hardware wallet like the Ledger Nano S or Trezor if you plan on storing large amounts of cryptocurrency in them. If you're just looking for a way to store your coins securely while not spending too much money then one of these other options might be better suited for your needs:
GateHub
GateHub is a web-based wallet that has a mobile app. It’s also a multi-currency wallet, meaning you can add other coins to your account and use them alongside your XRP.
Gatehub is a hot wallet, which means it’s connected to the internet and therefore more vulnerable to hacking attempts than cold wallets like hardware or paper wallets.
GateHub is unique because it allows users to exchange fiat currencies (USD) into digital currencies like XRP via credit card or bank transfer. This makes GateHub the best option for beginners who are looking to buy their first cryptocurrency but aren't yet ready for the complications of obtaining crypto on an exchange or from another person directly, which we'll cover in more detail later on.
Ledger Nano S
Ledger Nano S is one of the most secure wallets on the market. It’s a hardware wallet, which means that it stores your private keys in a secure chip instead of an online database. This makes it much more difficult for hackers to gain access to your cryptocurrency. In addition to storing Ripple, Ledger Nano S supports Bitcoin and Litecoin as well as many other cryptocurrencies. It also has a built-in OLED screen so you can easily check balances and confirm transactions without having to connect your computer or smartphone. The only downside is that it costs about $65 USD but this price tag makes sense given its premium build quality and secure features.
ToastWallet
ToastWallet is a secure and easy-to-use mobile wallet for XRP that you can access on your smartphone. It allows you to not only send and receive XRP, but also exchange between other cryptocurrencies like Bitcoin (BTC) and Litecoin (LTC). ToastWallet is the best wallet for Ripple because it offers an easy way to buy XRP via Coinbase or Cex.io accounts.
ToastWallet allows you to create multiple wallets within one app, which makes it ideal for those who want to separate their funds into different accounts or share their wallet with someone else such as a spouse or partner. Each of these wallets are protected by strong encryption technology called AES 256-bit key encryption technology, which means no one can access them without your permission unless they hack into your phone’s operating system first - something that wouldn't happen often since most people use secure passcodes on their smartphones.
Atomic Wallet
Atomic Wallet is a multi-currency wallet with a built-in instant exchange. It supports 300+ coins and tokens, including Bitcoin, Ethereum, Ripple and more. The platform provides a user-friendly interface for managing your funds securely with its primary focus on security.
The main benefit of Atomic Wallet is that it allows users to store their cryptocurrencies in one place rather than needing separate wallets for the different coins they own. Its interface is simple enough for those new to crypto investing but also has advanced features that more experienced investors will appreciate.
Atomic Wallet’s biggest drawback is its lack of support for Ripple (XRP). However, there are ways to add this coin to your wallet if you’re interested in buying or selling XRP through Atomic Wallet as well as other options like Changelly or Shapeshift.
Cobo Wallet
If you are looking for a Ripple wallet that supports multiple cryptocurrencies, look no further than Cobo Wallet. This multi-currency wallet supports not only Ripple but also Bitcoin (BTC), Ethereum (ETH) and more than 100 other altcoins. It is available on both iOS and Android devices and the free mobile app is also available for web browsers.
The Cobo Wallet app comes with an interface that's easy to navigate, even for those who are new to crypto wallets and exchanges.
Free Wallet
The Free Wallet is a free and open-source Ripple wallet that's available for Android and iOS. The wallet can be downloaded from the Google Play Store or Apple App Store.
The Free Wallet is a no-frills wallet that is easy to use. It allows you to send, receive, and exchange XRP coins with other users without having to register your account first, you just need an email address.
Bithomp
Bithomp is one of the most popular wallets for Ripple coin. It is a multi-currency wallet and supports multiple altcoins including BTC, ETH and many more.
Bithomp has a mobile app which makes it easy to send or receive payments at any time and any place using your smartphone. You can also import your Bithomp wallet into another cryptocurrency exchange like Bitstamp or Coinbase to convert your Ripple into fiat currency (USD/EURO) via bank transfer or credit card instantly.
Uphold
Uphold is a great option for Ripple holders, as it supports over 30 currencies and commodities. It's also an easy-to-use platform that has a mobile app for iOS and Android users. You can choose to store your XRP in USD, EURO, GBP or BTC, which means you'll be able to convert your XRP currency into other currencies easily if you need cash or want to move it around quickly.
Uphold's security features include 2FA (two factor authentication) and PGP encryption.
Exarpy
Exarpy is a desktop wallet, mobile wallet and web wallet. It is also available as a paper wallet or hardware wallet (light). The Exarpy light version can be installed on any device with an internet connection.
This Ripple desktop client supports multiple languages including English, Spanish and French. It is simple to use; you just need to download the application from their website then install it on your computer. Once you have installed it on your computer, you will be required to create a password that protects access to the account from unauthorized persons.
To create an account with Exarpy follow these steps:
1) Download the Exarpy software from https://exarpy.org/downloads/
2) Create your account by providing a name for your new address
3) Click “Create new account”
4) Enter your email address
5) Enter security question
6) Set up two factor authentication
7) Select "Create"
8) Copy the 12 character passphrase
9) Send this code via email
10) Enter security code
11) Click "Confirm User"
Trust Wallet
Trust Wallet is a mobile wallet that supports Bitcoin and Ethereum. It's also available on Android and iOS, making it easy to use at home or in public places. You can also use Trust Wallet to store your cryptocurrency in a hardware wallet like the Ledger Nano S, Trezor or KeepKey.
Conclusion
We hope that you have found this article helpful in getting your hands on a Ripple wallet. We have listed some of the best ones out there and also given you a better idea of what exactly they are.