Best Ripple Wallet

So - you’ve just read about how amazing Ripple is, how many wonderful pros it has and how you should buy it RIGHT THIS INSTANT. Well… That’s cool, but slow down a bit and think it through. Sure, Ripple is great and all, but if you don’t have the best Ripple wallet in the market, then where are you going to store your Ripple at?

Well, let me tell you - today’s your lucky day! In this tutorial, I’m going to tell you all about the best Ripple wallets available. We’ll talk about Ripple in general (why it’s as cool as it is) and then transition into the wallet guide. Hot wallets, cold wallets (such as Ledger and Trezor) - we’ll cover it all.

Ripple (XRP)

First things first - let’s get something straight. Because you came here for a Ripple wallet, I assume that cryptocurrency is what you have in mind. Well, I don’t know if you knew this, but Ripple is the name of the company that created the coin, not the coin itself. The actual cryptocurrency is called XRP. However, as time went on, people just got used to calling the crypto-coin Ripple. And that’s all good - to avoid confusion, I will also be referring to the coin as “Ripple” (unless stated otherwise).

So, what is Ripple? Well, to put it simply, Ripple (XRP) is a centralized cryptocurrency created as a mean for faster money transfers.

Note that the keyword in that description is centralized. This is one of the main unique features that the XRP coin has.

Most of the cryptocurrencies that are currently present in the market (especially the more mainstream, well-known ones) are decentralized. This means that their code is accessible to anyone - if you’d wish to participate in some of the development activities surrounding the cryptocurrency and its blockchain, you would be free to do so.

On the other hand, centralized coins like Ripple do not have this feature. A centralized coin belongs to one single entity (be it a developer, a team or a company) and no one else can pitch in when it comes to the coins' support.

This is quite a controversial topic in the cryptocurrency community. On one hand, this means that cryptos like Ripple (centralized ones, that is) are more stable and are less likely to produce some unexpected and unwanted surprises when it comes to network crashes, price swings and so on. If a potential investor is only concerned with making a profit, this becomes a great feature.

Table: The main features of the Ledger Nano S and the Trezor One

On the flip side, however, the hardcore cryptocurrency community that is less concerned with making a profit and more interested in the concept of crypto itself hate Ripple.

Ripple is seen as an attempt to infiltrate the community by larger, centralized and government-allied players. The fact that Ripple is loved and accepted by a big portion of banks worldwide (most of them are based in East Asia) is seen as a huge no-no, rather than something positive.

You see, the original purposes of cryptocurrencies (as proposed by the Bitcoin whitepaper) were centered around privacy, decentralization, and freedom of transactions. Centralized coins like Ripple are seen as a step back from these goals.

Ripple (XRP) is a huge topic of discussion within various circles of people that are interested in cryptocurrencies and their supporting networks. However, there is one feature that Ripple has that is deemed to be the leading cause for Ripple’s attractiveness. And that feature is speed.

Faster than..?

Needless to say, Bitcoin has probably got the most loyal following out of all of the cryptocurrencies that there currently are. But even the most dedicated of fans admit that there are problems with the coin that are still yet to be resolved.

Probably the biggest of these problems is considered to be speed. With huge amounts of people pitching into Bitcoin mining every single day, the cryptocurrency’s network is becoming more and more encumbered. This, in turn, leads to slower transaction rates - fast transactions aren’t something that Bitcoin was known for, to begin with.

Many altcoins try to solve this problem by introducing networks that handle transactions in double or triple the speed that Bitcoin does. You’ve probably guessed it already, but one of the most famous of these altcoins is Ripple (XRP).

Ripple aims to revolutionize the speed in which a transaction between two parties is performed. It does so by applying the cryptocurrency formulas and combining them with its own, unique network. Now, take that and add centralization into the equation - what you get is the reason why so many banks love and accept Ripple into their systems.

Best Ripple Wallet

Now that we’re both on the same page, we can transition over to the actual “Best Ripple Wallet” tutorial. The way that I’m going to go about this is that I’ll tell you about the best wallet for Ripple (or some more options than one!) in both the hot and cold crypto wallet departments.

Hot Wallets

If you’re not very familiar with the term, a hot cryptocurrency wallet is a wallet that is constantly connected to the internet (online, software, etc.). Naturally, this type of wallet has its pros and cons, but let’s leave that for another tutorial. It is enough to know that this type of Ripple coin wallet is the most popular one - mostly because it’s almost free.

Now you might be thinking - what does he mean - almost..?

Table: The main features of the Coinbase Wallet and the Binance wallet

You see, hot cryptocurrency wallets are usually completely free of charge (at least when it comes to the wallets themselves). However, Ripple is that one exception. Each XRP wallet that you create, you’ll require to pay 20 XRP to activate the address. Note that this is the case with both hot and cold wallets alike. That’s why you’ll probably want to have only one, single and main Ripple coin wallet - it can get quite costly otherwise.

Now that we’ve got that out of the way, let’s move on and talk about hot wallets for Ripple. I’ll tell you about a few of the most popular options that you’ll have when thinking about hot wallets for your XRP coins.

Coinpayments

A very well-known cryptocurrency trading platform, Coinpayments offer their users the ability to store various cryptocurrencies on their online wallet. Ripple is no exception.

Coinpayments charge a flat 0,5% fee for the transactions that you make from your wallet. That means that whenever you buy or sell something using Ripple, you’ll be charged 0,5% from the amount of Ripple in the transaction. That is considered to be one of the best deals in the current crypto trading market. Naturally, deposits and withdrawals are completely free.

Another great feature that Coinpayments offer is that their wallet is a multi-coin one. This means that you can store many more cryptocurrencies in there - not only Ripple. This can be great if you want to diversify your assets or simply have some backups for Ripple. They don’t have a Ripple desktop wallet, however.

Don’t hesitate to try Coinpayments out if you’re trying to find the best Ripple wallet - this company has a trustworthy reputation and is considered to be one of the top-dogs when it comes to cryptocurrency trading platforms and hot wallets.

Toast

You probably couldn’t find a “best Ripple wallet” guide that would not have the Toast wallet as an entry at some point in the guide. And for good reason.

Toast is an exclusive wallet designed specifically for Ripple. It’s super easy to use, is open source and is currently available as a mobile (Android and iOS), online and a “Ripple desktop wallet” version (Windows, Mac, Linux).

One of the best features that the Toast wallet possesses (besides it being designed specifically as an XRP wallet) is that it emphasizes security as the number one priority. Toast has a backup feature, a recovery option and allows users to set specific, cryptographic PIN codes for an added layer of safety.

Toast being an exclusive XRP wallet allows it to easily contest the title for “the best wallet for Ripple”. You should keep it as an option and be sure to try it out!

Cold Wallets

As you’ve probably guessed already, cold cryptocurrency storing wallets are those which do not require an internet connection to function or simply work. That makes them great contenders for the “best Ripple wallet” position.

Cold wallets are far from being as popular as hot ones. And this isn’t a Ripple-exclusive thing, either - this trend is seen in the whole of the cryptocurrency world. However, don’t get the impression that this signifies that they're bad or faulty. The problem with their popularity lies in much more simple reasoning.

Cold wallets are usually quite expensive. A decent cold wallet could go anywhere from $70 up to $150. When you compare this with hot wallets (that are usually completely free), it becomes clear why people often choose the latter.

However, cold wallets are seen as a more secure and reliable option. While possessing one, you don’t need to worry about hackings, scams or system failures. The most recommended cold wallets at the moment are Ledger and Trezor. If you're storing huge amounts of coins, you should definitely consider them.

That being said, when it comes to the topic of “the best Ripple wallet”, there is one that beats the competition by a long shot.

Trezor Safe 5

Trezor is one of the better-known names in the hardware crypto wallet industry. The brand has been around for quite some time, and being a veteran in the market, it has quite a few different wallets to offer to its clients.

The top-of-the-line option, however, would have to be the Trezor Safe 5.

The Safe 5 is an all-around improved take on Trezor’s older hardware wallet selection. This newer wallet puts an even bigger emphasis on security and user experience, having an integrated touchscreen that’s both easy and intuitive to use.

Furthermore, the Safe 5 wallet brings back a rather special feature from the older Model T - microSD card slots. Namely, you can insert a microSD into your wallet, which will be used to encrypt your PIN codes - view it as an additional layer of security for your assets!

As far as the best Ripple wallets are concerned, Trezor’s got you covered. With the Safe 5, you’ll be able to send and receive XRP, as well as manage it via the Trezor Suite graphical interface.

As of writing this, the Trezor Safe 5 retails for €169.

Ledger Nano S Plus

Even though Ledger implemented Ripple (XRP) as an option when it comes to coin storing not too long ago, it was automatically placed on the top of the “best Ripple wallet - cold edition” list.

Already well-known in the wider cryptocurrency community, the Ledger Nano S Plus is a hardware crypto-storing device that has replaced the original Nano S wallet. As with its predecessor, however, the Nano S Plus focuses on security.

First of all, it’s a cold wallet. This automatically provides more security and reliability when compared to its hot counterparts.

Furthermore, Ledger offers 2-factor authentication, an individual PIN and a recovery option. The main reason why its security is constantly referenced, however, is that the device itself doesn’t store your Ripple coins per se. Rather, it tracks your savings on the actual blockchain and displays them with a click of a button.

This is another great option that the Ledger offers. It has a small, inbuilt screen that you can use to see both your savings and the transactions that you make via using Ripple.

If you’re looking for the best Ripple wallet, and are not shunned away by spending some money to get a cold wallet, the Ledger Nano S Plus is currently seen as one of the best options available in the market. Be sure to check it out!

Why Not DIY?

If you don't want to spend a whole lot of money but are still interested in cold wallets, there is an option for you, too - creating your Ripple paper wallet.

Although this is a lesser-known and not-so-often used method of storing Ripple, it’s a great and secure option. A Ripple paper wallet is still a ‘cold wallet’ - it’s just different in its kind. Just like the Ledger is a hardware cold wallet, so is this a paper one.

Now, the only issues that you might encounter with a Ripple paper wallet are centered around the fact that, at the end of the day, it’s still paper. You’ll have to protect it from getting wet, burned, dirty and so on. However, if you have a safe place to store it, these things shouldn’t be an issue.

Other than the above-mentioned “problems”, paper wallets work the same as hardware ones when it comes to security. They are also very easy to conceal - a small note is much more discreet than a hardware device.

One glance online will show you many different ways to create your Ripple paper wallet. It’s a short and easy process - you shouldn’t encounter any difficulties whatsoever. So, if the best wallet for Ripple is what you’re looking for, do consider paper wallets as a possibility.

Conclusions

Many people online are looking for the best Ripple wallet out there. It is often difficult to give a single, solid answer to the question “what is the best Ripple wallet available?”. There are many reasons for that.

Not everyone is ready to spend money to store their Ripple in a cold wallet; however, options such as Ledger Nano S Plus and Trezor are completely worth it. Sure, paper wallets become a great alternative here, but some people don’t like the fact that their vulnerable codes are displayed on a physical object.

	LEDGER	TREZOR
Money Back Guarantee	14 days	15 days
Base Price	39 USD	70 USD
Service Fees	N/A	N/A
	See TOP10 Brands Read review	See TOP10 Brands Read review

Table: Pricing information of the Ledger Nano S and the Trezor One

Hot wallets are much more approachable, but generally less secure. Even the Ripple desktop wallets are a tricky thing when it comes to internet accessibility and connection. At the end of the day, it all becomes preferential.

We have reached the end of the “Best Ripple Wallet” tutorial. I hope that the information I’ve provided was useful for you and that you’ll apply your new knowledge to finding the best possible wallet for you!