Looking to make an investment in Ripple(XRP)? The first thing
Looking to make an investment in Ripple(XRP)? The first thing you would need before starting to trade is a secure wallet. Wallets are an absolute necessity for cryptocurrency holding, since the digital asset is a bunch of codes, and there are no governmental approvals for its use, the ounce of securing your asset falls on your shoulder.
Ripple or Cryptocurrency wallets come in many shape and form, in this article we will look at the 5 best Ripple wallets that you may use to hold your XRP in 2019.
Ripple is being hailed as the next big thing in the crypto space as many mainstream banks are looking to make use of the cryptocurrency in their day-to-day banking activities. Apart from that, it has also bagged the partnership with JP Morgan, the Bitcoin critique who never saw the potential of Bitcoin and cryptocurrencies in general.
This itself is a massive achievement, and even though the prices are nowhere near that of Bitcoin, many believe it would become bigger than bitcoin at some point. So, if you are looking to either increase your crypto portfolio with the addition of XRP or even if you want to make a foray into crypto trading with XRP, it’s a good investment.
You May Also Read: Will Ripple (XRP) Ever Be As Big As Bitcoin?
Cryptocurrency Wallets
Cryptocurrency in recent years has become a legitimate investment option, with one of the longest bear markets gripping the crypto space, the opportunity is even better for the new enterants as the prices are rallying around the lower end.
Now we all know that government and regulators around the globe are not yet sure of the impact, thus there are no set rules & regulations which might help you safeguard your crypto asset or get it recovered legally in case of theft. This is why one needs to be extra careful while selecting a wallet.
Cryptocurrency wallets come in various shapes and sizes with adequate safety features as well as the recovery option to keep your crypto assets secure. Some of the various types of crypto wallets have been listed below.
These are the main three types of wallets and one can choose as per their convenience, in the next section we will list 5 best wallets which you may use to hold your XRP fortune and also have the option to recover it in case you lose it or someone steals it.
You May Also Read: How To Buy Ripple With Skrill?
Best Ripple (XRP) Wallets
1. Ledger Nano S
Ledger Nano S is one of the most preferred and widely used hardware wallets. It is known for its impeccable security features and recovery options in case you lose it.
It comes in the shape of a USB drive and you need to set it up before using it. It’s called hardware wallet since it’s available in the physical form. It supports multiple currencies, which means apart from the XRP, you can also hold many other cryptocurrencies like Bitcoin Cash, bitcoin and Ethereum.
Coming to the security features, the wallet generates a seed key which you need to note down and save in a place which is only accessible to you. Its recommended not to save the seed-key on a device with the internet connection as it might lead to a breach in the security. It supports the PIN option and also has support for swapping of private keys.
2. Toast wallet
Toast is an open-source wallet that supports Ripple and considered to be easy enough that even your grandma can handle it. Being an open-source and easy to use wallet does not mean it compromise on the security.
It has the option for pin generation, and since its non-hosted, it means you have full control over your private key and no-one can get access to it. Toast is a desktop wallet and available for Android, IOS, Windows, Mac-OS (Apple Macintosh Laptop) and Linux systems.
3. Guarda Wallet
It is one of the light-weight available for both the web as well as on your mobile phones. It has multi-currency support and that means apart from XRP it can save most of the top cryptocurrencies.
Coming to the security features, it is an offline wallet which does not splash your private key information all over the internet. The private key is secured on the local hardware and no information about the client is saved or have the vulnerability of being splashed on the internet.
It also helps you transfer your crypto funds from one wallet to another without any complicated verification process.
4. Cryptonator
Cryptonator is another web-based wallet which has multi-crypto support and can manage up to 19 cryptocurrencies like Ripple, Bitcoin, Ethereum, Dash, Litecoin, Zcash. The support for major altcoins makes it one of the most preferable wallets.
The wallet provides easy to use interface and security features along with an inbuilt exchange which help you convert one bitcoin into another. It is available for Windows, Mac, and Linux operating systems.
It has bank-level security features like encrypted SSL connections and a two-way authentication process. It is an online wallet, the vulnerability factory also increases.
5. Edge Wallet
Edge is another open-source wallet which is famous for providing fiat purchases as well as crypto-to-crypto purchases within the mobile wallet itself. The users need to create an account using a username and password to create an encrypted account.
The other security features include password recovery and two-way authentication.
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