This post is about Top 6 Best Ripple Wallet in the market.
Ripple is third highest cryptocurrency in market according to marketcap. In 2017 it become 2nd highest after Bitcoin going ahead of Ethereum in volume of trade in coinmarketcap.
Ripple Is best digital currency for investing purpose in the market. People who invested in Ripple(XRP) are making too much profit.
Many people buy Ripple and store in any exchange fund which is not secure.
Understanding and storing digital currency in the wallet is sometimes difficult. Like Bitcoin which offer many mobile wallets for storing Bitcoin, XRP support limited wallet.
If you are interested in buying Ripple then you should understand this thing:
- What is a Ripple?
- From where to buy Ripple?
- Where to store Ripple?
In this post, I will answer all question of yours. So stay until the end.
What is a Ripple?
Many people think if the currency is digital then it will also work same as Bitcoin. Which is half of the truth?
Ripple is a combination of digital currency(XRP) and open payment network which help you to transfer your money anywhere in the world. It is a peer-to-peer system which avoids all third-party network like a bank. Therefore, sending and receiving payment from Ripple is easy, fast and charge avoiding.
Ripple’s chief cryptographer, David Schwartz, explains it like this:
“Payment systems today are where the email was in the early ‘80s. Every provider built their own system for their customers and if people used different systems they couldn’t easily interact with each other. Ripple is designed to connect different payment systems together.”
The company which is behind the Ripple is planning to create 100 billion Ripples. Half of the Ripple is released and half have to create.
Unlike Bitcoin, Ripple didn’t wait for confirmation on a block for payment which made XRP fast.
Now Next question which come in mind from,
where to buy Ripple(XRP) ?
I already covered about this in my past post but let’s take summarize that post:
Binance: This is best cryptocurrency exchange platform. Here you can exchange any crypto with ripple. Also, the fee structure is low. I love binance just because of wide collections of coins.
Cex.io: here you can directly but Ripple with credit card and debit card. But offer service in limited countries. If you live in India then this site is not for you.
Zebpay: problem with zebpay is high price as compare to international market rate but if you live in india then you have to choose zebpay. Koinex is also a batter option but service of koinex is not much good as compare to zebpay.
Bitfinex: bitfinex is come in most popular crypto exchange platform categories.
Changelly: if you have Bitcoin or any other coin then I will suggest for fast transaction always choose changelly over others.
Once you finalized with a way of getting XRP, in next step you have to store, As an online exchange is risky.
Best Ripple Wallet:How to Store XRP?
As online exchange is an option for storing XRP. You can choose the best wallet according to your satisfaction for storing XRP.
One drawback of Ripple wallet is unlike Bitcoin wallet address, XRP is not free. You have to pay 20XRP for booking purpose.
Therefore, like Bitcoin, you cannot create multiple wallets address and use them according to need. Before choosing Ripple wallet, be satisfied with all review of wallet.
Therefore, creating multiple wallets for storing XRP is not a good idea as you have to pay 20XRP for every wallet.
Hardware wallet for Ripple(XRP)
Ledger is hardware wallet that recently start supporting XRP.
Other than XRP, ledger also support other cryptocurrencies like:
Dash, BTC, ETH/ETC, Stratis, Zcash, and now it supports XRP
Like pen drive, you can take ledger anywhere. You can also store this in any safe place.
You can order ledger from their official site which is usable for any cryptocurrency. It takes around one week for delivery. For the first-time user, you should check youtube videos of coinsutra.
Ripple online wallet
Tristan D’Agosta founded poloniex in January of 2014. After the complete verification, poloniex alow daily limit of 25,000 US dollar.
Other than XRP, poloniex support
The exchange was hacked in March 2014, after the 2 months of launch. Hackers stole 12.3 percent of Bitcoin, which is approximately 50,000 US dollar.
Poloniex is the fastest way to get XRP. Here is stamen of holding 20XRP from poloniex;
The first time you deposit to a Ripple deposit address, 20 XRP will be held there to reserve the address. This is because the Ripple network requires a minimum of 20 XRP to be in any active address. The money does not go to anyone, and the difference will be credited to your account if the minimum requirement is ever lowered. Once you have funded your deposit address with 20 XRP, you will be able to deposit any amount and receive your full deposit. Please note that if you generate a new deposit address, you will have to fund that one with 20 XRP as well.
when first time you deposit to a Ripple deposit address, 20 XRP will be held there to reserve the address. This is because the Ripple network requires a minimum of 20 XRP to be in any active address. The money does not go to anyone, and the difference will be credited to your account if the minimum requirement is ever lowered. Once you have funded your deposit address with 20 XRP, you will be able to deposit any amount and receive your full deposit.
Please note that if you generate a new deposit address, you will have to fund that one with 20 XRP as well.
Exarpy is one of the best Rippl wallet in this list. This is non hosted Ripple wallet which you can open from any browser.
Exarpy gives you many features like storing/buying/ receiving Ripple from anywhere. But the problem is they charge 0.025 XRP fee for every transaction with Blaockchain fee too. But 0.025 XRP is not that much amount so you can use this wallet.
If you are a trdaer and you don’t want to hold ripple more then 3,4 days then Binance is the best option. I will suggest to use binance as they have multifeature of exchange and stop limit if you are tarding.
But if you are holding Riiple for long time then I never suggest to use binance or any platform which is hot wallet. As this website can be shoutdwon any time. You will lose your XRP.
Gatehub is the official wallet for XRP currency. Gatehub is a new website which offers XRP wallet but gatehub successful able to manage to attract some customers.
You can also trade with the same XRP which is quite interesting feature of gatehub. It is very easy to send XRP to anyone with name, wallet name and wallet address.
At the time of creating an account, gatehub give you one recovery password which is useful, when you forget a password. It is a recovery key of your password. You can write this on a piece of paper and store them.
all you have to do is create account, complete KYC and done.
All analytical data is compiled on a single page, removing the need for many menu sections. UI of gatehub is very user-friendly.
But peoblem with gatehub is many people complaint me about bout losing their funds. So I will not suggest you to store your coins in gatehub.
Desktop wallet for Ripple:
Rippex is the only one ripple wallet which is tested by me for desktop. desktop wallet are those wallet where private key store in machine it self. so there is less chance of losing ripple by spammers.
but it does not mean it is safe. as it is connected to your local network it can be hack by hackers through your Isp. but there is very low probability.
Note: Rippex is shutdown now. if you know any other desktop wallet for ripple which is used by you then let me know review of that in comment section.
If you are a cryptocurrency lover then you should buy ledger nanos just like me. This is fastest and securest way of storing your coins. It support multiple coins.
Investing in XRP is great deal. Using offline wallet like hardware is always a great way of securing your cryptocurrency. For hardware wallet, you can always prefer ledger.
For online wallet, you can use Binance which is also is a good option.
Let me hear in the comment section if you know any other Ripple wallet.
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