In our beginner’s guide to Ripple, we have discussed how Ripple is an incredible payment protocol meant to be used by financial institutions. Its coin, Ripple (XRP), is a rather valuable player in the crypto market, having recently pushed Ethereum out of the second spot in crypto rankings before sliding back to its original third spot again. If you do invest in XRP cryptocurrency, what are the best wallet options available for you? Let’s have a look.
1. Ledger Nano S:
This particular hardware wallet is an extremely secure and convenient option for all sorts of crypto users and Ripple holders can depend on it with closed eyes. Although it doesn’t come too cheap at around $99, it is truly worth it for the convenient storage of your XRP holdings. It can be connected to your computer or any other such device using a USB cable and the tiny display scene available with it allows for real-time viewing of the transaction by the user. It is secured by the use of a password protected security scheme. In addition, it also allows for automated backup which can be absolutely crucial in case a wallet is lost or stolen. The password makes sure unauthorized access is prevented and the backup ensures the original owner can still access his holdings.
Once you purchase XRP from one of the top cryptocurrency exchanges, you might want to store it in an online wallet, instead of going for a cold storage hardware wallet. In such a case, you may very well go for the CoinPayments website. This Canada-based website allows users to store their crypto holdings, including XRP, and also use them for online payments. Since the transaction fee is extremely low at about 0.5%, it is an extremely cost-effective option for XRP holders to store their coins. The Ripple XRP Coin Wallet on CoinPayments can be used for both investment holding and for making certain payments out of your wallet.
This particular XRP wallet is an incredible app option available for Android, iOs as well as Windows platforms. What makes it such a favourite among XRP users is the fact that it is absolutely free and rather secure for use. However, you do need to have at least 20XRP available in reserve for the service provider to be able to process your payments.
4. Edge Wallet:
This is a software wallet option which was previously known as Airbitz. This wallet is based on an open-source code and is incredibly easy to use because it has a very convenient and user-friendly interface. In addition, its 2FA (two factor authentication) security also makes the storage system of this service very dependable. It is available across multiple platforms and is definitely one of the best XRP wallets you can choose for yourself. Although this does not support a web interface, it is available for Windows, iOs and Android users. It also provides crypto trading facilities.
While you choose your crypto wallet to hold your XRP coins safely, you must keep in mind some other safety norms that help you take good care of your holdings. Therefore, in order to make sure that you don’t lose out on crypto coins purchased with your hard-earned money, you must read about the ways to secure your crypto wallets properly.