How to choose the Best Ripple (XRP) wallet?
September 09, 2019
What if you google Ripple Wallet? We bet you’ll see the tons of various crypto wallets, starting from light mobile applications and ending up with full node offline storages. What to do of you are looking for a simple but secure solution?
The main question is for what reason do you need this wallet?
If HODLing, then you can choose some cold wallets, for example paper wallet. You can store funds on it offline.
If you want to trade or exchange your coin fast and have enough trust to the centralized companies, then you can use some hot wallets. It can be Coinbase, Binance, Bittrex and more. The good thing is that you have access at any time and can exchange crypto in two clicks. The bad thing is that you don’t have access to your funds, private keys are stored on server. If a company is on maintenance, you don’t have access to your funds. If a server gets hacked, your funds are likely to be stolen.
If you want to have control over your private keys and still get some online features, try out Light Wallets. It can be Atomic, Exodus, Jaxx, etc.
They provide access to different blockchains and generate keys from a mnemonic seed. Keep it secure, because if someone steals it, your funds will be lost. Such wallets hold your keys encrypted and provide additional options like cryptocurrency exchange, built-in buy crypto, portfolio for trading and other options. Examples: Atomic, Exodus, Jaxx and others…
If you’re on a low budget and 20 XRP is a big thing for you and you don’t want to freeze it up. Yes, if you have unique XRP address 20 XRP will be frozen and taken as a fee for address activation. It’s XRP blockchain requirement, so we recommend you to use HOT wallets. They do not provide unique address. Yes, in that case you won’t have a private key, but you won’t pay for the activation as well.
XRP features on Atomic Wallet
In Atomic your XRP address is generated from seed and unique. You don’t need to have a destination tag to move funds on it. If you want to send funds from an exchange to your Atomic and it requires Destination Tag, then feel free to insert any random digits in it. Funds will be successfully transferred to your Wallet address.
You can also buy XRP with your bank card or exchange it to the other cryptocurrencies right in the wallet interface.
What to know before your first deposit?
Rule #1: Always check who are the team members of the wallet. Do they have experience in managing different projects? Who they are? Try to link in what projects they have already participated.
Rule #2: Ask about the wallet on Quora, Reddit or at any social media. Try to find what users experienced while using it.
Rule #3: Contact team if their website do not provide the necessary information for you. If they are welcome to chat, then they are take care of the project reputation and trust.
Rule #4: Always try with the small deposits and with different crypto.
Rule #5: Never store your seed phrase online (on the google drive, email, on the .txt file, etc.) Use a keystore, or a piece of paper.
Rule #6: Make sure you will be able to withdraw at any time.
Rule #7: Never trust, verify!
How to setup XRP Wallet
Manage your Ripple (XRP) wisely!
Learn how to setup Atomic Wallet to send, receive, exchange and buy XRP.
- You have a full control over your private keys.
- Multi-asset support.
- Secured interface.
- Exchange, Buy Crypto and Atomic.
- Atomic Swaps available.