Undoubtedly, Ripple is an innovative and adaptable blockchain network that has already changed the way for the cross borders transactions in the banking space. Being touted as the fintech revolution, Ripple has been adopted by renowned banks, including Santander, Royal Bank of Canada, or PNC, making this cryptocurrency has the fastest growing in the industry.
XRP wallet is used as a personal ledger of transactions, which is accountable for providing, storing, transferring, receiving, and managing user’s coins all in one place. However, for beginners, it is important to know that unlike the free availability of Bitcoin wallets, Ripple wallets require users to have a minimum of 20 XRP for the booking of wallet addresses. So, picking up the right wallet, at the beginning is a must for the user, as spending on multiple addresses for XRP, clearly is not the right decision!
Here in this blog, we will ease up your challenge of selecting the best XRP wallet.
1. Ledger Nano S
Ledger Nano S is a hardware wallet renowned for its security and convenience for storing your currency in a better way than web or desktop wallets. The wallet offers excellent support for a wide range of popular cryptocurrencies, including BTC, ETH/ETC, Dash, Zcash, and of course, XRP. The wallet can track the user’s XRP holdings on the blockchain while storing and protecting the data, requiring private keys to access the cryptocurrency.
With a plethora of security options, the wallet provides offline storage and a built-in organic LED screen, allowing users to check the transaction or balance details quickly. Ledger Nano S is compact and versatile that can be plugged into the computer’s USB Port. The popularity of the wallet often leads to late delivery, so order it prior to your need.
2. Trezor
Trezor is the second-most top hardware wallet for storing, managing, and transferring cryptocurrencies. It offers an intuitive user interface allowing the users to conveniently send and receive the cryptocurrencies by manually typing an address or scanning a QR Code. When it comes to talking about security, Trezor also provides offline wallets with private keys of 12 to 24 unique words that help users retrieve backup within a few minutes.
What makes it preferable for the users is the simultaneous firmware updates that constantly add new features while enhancing the existing ones. The transactions are protected with the special Pin, and the private keys are stored in the physical locations, not on any system or server prone to hacking. However, the wallet is quite expensive and not worth purchasing for small crypto investments.
3. Toast Wallet
Toast Wallet claims to be the simplest and safest XRP wallet among the other available choices. According to the creators of this user-friendly wallet, it is “simple enough for your grandma but safe enough for a Swiss banker”. It has raised the bars for the other wallets among the crypto users. It is available on different platforms, including Windows, Mac, Linux, Android, and iOS, allowing users to manage the currency from any device. If you are only interested in storing XRP, then the wallet is somewhat suitable for you. However, users who are focused on holding a variety of cryptocurrencies must look for other wallets.
Security is the utmost parameter in storing any crypto, especially XRP, so for beginners, it is advisable to choose a wallet offering an understandable & accessible backup option. Make sure you have satisfactory security options to avoid the risk of losing funds.