11 Best XRP Wallets

So, you’ve decided to invest in Ripple XRP rather than Bitcoin. Now you need to choose an XRP wallet to store your crypto assets in.

Choosing the best XRP wallet is not as easy as it sounds. Do you want hardware or a software wallet? What is more important, security or accessibility? 

Below is a list of the best XRP wallets on the market. Each has its pros and cons. You need to be careful when you are choosing a wallet for your cryptocurrency. Spending time to understand different Ripple XRP wallet options is important to protect yourself from scams and fraud.

Let’s take a look.

What is XRP Cryptocurrency?

XRP is the native cryptocurrency for products developed by Ripple Labs.

Ripple products provide a similar service as SWIFT does for fiat currencies. It offers financial institutions a quick and reliable option for sourcing liquidity on demand. Its products are used for payment settlement, asset exchange, and remittance systems.

XRP is used in its products to facilitate quick conversion between different currencies.

What is an XRP Wallet?

Even if you are not using the Ripple products for currency conversion, you can invest in the XRP currency.

Once you have purchased an XRP token, it needs to be stored in a crypto wallet that supports the XRP currency.

There are different types of wallets for you to consider, and each wallet can vary in terms of features, usability, and security. The first choice you have is choosing between a hardware and a software wallet.

Hardware Wallets Explained

A hardware wallet is an offline, physical device that stores the private key to your XRP tokens. A hardware wallet is one of the safest wallets available. Hardware wallets do require an initial investment though – you need to buy the hardware itself upfront. Most hardware wallets for sale will support not only XRP but other crypto assets as well.

Software Wallets Explained

A software wallet is generally free to use. It will store the private key to your XRP tokens on your device, whether that be a mobile phone, desktop, or laptop computer. A software wallet is considered less safe than a hardware wallet because it might be vulnerable to malware. Make sure to take the necessary precautions and only download official or highly recommended software wallets.

Best XRP Wallets

Here are some of the best XRP wallets for you to consider.

1. Binance

Binance is a software wallet. It is one of the safest XRP wallets and offers a wide range of tools for trading online. The platform is compatible with Web, iOS, Android, and PC clients. Binance offers basic and advanced exchange interfaces for trading.

>> Learn more about Binance

2. Bitcoin IRA

Bitcoin IRA is a platform that enables you to buy or sell crypto with minimal effort. Like an IRA, it offers you tax-free gains on profits. The Bitcoin IRA is not only for trading in Bitcoin. You can trade in gold, XRP, and more. You can store your crypto assets online and engage in secure trading through SSL.

>> Learn more about Bitcoin IRA

3. Coinbase

Coinbase Wallet is a software wallet. It provides multi-currency support and allows you to generate more wallets for different cryptocurrencies easily. You can send crypto payments via the app and store your keys on Google Drive. This ease of access makes it a good wallet, however, it also makes it more vulnerable to hackers.

>> Learn more about Coinbase

4. Coinsmart

Coinsmart is a software wallet linked to a digital currency exchange. This enables you to buy and sell crypto with no hassle. It supports a wide range of cryptocurrencies like Bitcoin Cash, XRP, Litecoin, and more. Coinsmart processes all fiat withdrawals in a few days.

>> Learn more about Coinsmart

5. Ledger Nano

Ledger Nano is a hardware wallet. Ledger Nano XRP wallets are secure, reliable, and support multiple cryptocurrencies, so there is no need to switch wallets if you need to store more than one asset. Security is the most prominent feature of the wallet. You can take it off the grid at any time, making it almost impossible for hackers to steal your assets.

>> Learn more about Ledger Nano

6. Trezor

Trezor is a hardware wallet. It offers high security, multicurrency support. Its open-source design means it is constantly being improved.

>> Learn more about Trezor

7. Robinhood Crypto

Robinhood Crypto is a platform that helps you buy and sell cryptocurrencies. You can trade your cryptocurrency by securing your personal information. It allows you to complete buying, selling, or trading of your assets using the smartphone application.

>> Learn more about Robinhood Crypto

8. Coinmama

Coinmama is a software wallet linked to a cryptocurrency exchange. You can buy cryptocurrencies with your credit card or debit card and you can get instant delivery of your coins.

>> Learn more about Coinmama

9. Edge Wallet

Edge Wallet is a feature-rich software wallet. It has an easy-to-use user interface and a unique approach to the security of your funds. Its interface seems quite easy for users of banking apps. Also, Edge provides you with an easy-to-use security layer that you have full control over. The wallet offers the facility of sending, receiving, storing, and exchanging coins.

>> Learn more about Edge Wallet

10. Electrum

Electrum is one of the best XRP wallets available on the market. It is a software wallet, but you can integrate this free Ripple wallet with existing hardware solutions, including KeepKey, Trezor, and Ledger Nano. This allows for top-level security and a low waiting time for online transactions and payments. Electrum offers great security and prevents theft and fund loss.

>> Learn more about Electrum

11. Atomic Wallet

Atomic Wallet is a software wallet. It is a decentralized wallet platform that lets you operate without the need to register and verify your account. This creates a focus on privacy.

>> Learn more about Atomic Wallet

How to Buy Ripple XRP

If you are planning to buy Ripple XRP, you can follow these easy steps:

1. Get an XRP Wallet – to store your Ripple XRP you will need a wallet that can hold them. Choose one of the best XRP wallets reviewed above.
2. Get your public address – once you have your wallet, you will need to find your public XRP address.
3. Choose a crypto exchange – in most cases, you’ll need to open a brokerage account with a crypto broker before you can buy or sell any type of stablecoin or altcoin. The best platform for you will vary depending on the assets you need access to.
4. Find Ripple XRP to buy – this is the part where you need to know how to buy Ripple XRP. Find the three letters XRP ticker symbol on the crypto exchange.
5. Buy Ripple XRP – place your buy order through your brokerage account. A buy order is a set of instructions that tells your broker which cryptocurrency you’re buying, how many coins you’re buying, and sometimes the price that the order should be executed at. You can pay for the Ripple XRP via a credit card or a wire transfer. When the order is complete, you’ll see your coins in your trading account.
6. Send the Ripple XRP to your wallet – using your XRP address, send your newly bought Ripple XRP to your wallet. You now know how to buy Ripple XRP!

Frequently Asked Questions (FAQ)

What is XRP and why do I need a wallet for it?

XRP is a digital asset native to the XRP Ledger, an open-source blockchain platform. An XRP wallet is needed to securely store, send, and receive XRP tokens.

What are the best wallets for storing XRP?

Some of the best wallets for XRP include:

1. Ledger Nano X and Ledger Nano S: Hardware wallets known for their security.
2. Toast Wallet: A free and popular software wallet for XRP.
3. Exodus: A desktop and mobile wallet supporting multiple cryptocurrencies, including XRP.
4. Atomic Wallet: A versatile wallet offering XRP support alongside other cryptocurrencies.
5. GateHub: An online wallet specifically designed for XRP.

What should I consider when choosing an XRP wallet?

When choosing an XRP wallet, consider:

1. Security features.
2. Ease of use.
3. Backup and recovery options.
4. Compatibility with different operating systems.
5. Support for multiple currencies if you hold various types of digital assets.

Are hardware wallets for XRP more secure than software wallets?

Hardware wallets, like Ledger Nano X and Ledger Nano S, are generally more secure than software wallets because they store private keys offline, making them less susceptible to online hacking attempts.

Can I store other cryptocurrencies in an XRP wallet?

Some XRP wallets, like Exodus and Atomic Wallet, support multiple cryptocurrencies. However, some wallets may be dedicated solely to XRP.

How do I transfer XRP to a wallet?

To transfer XRP to a wallet, you will need the wallet’s address. From your exchange or current wallet, select the option to send or withdraw XRP and enter your wallet’s address as the recipient.

Do XRP wallets charge fees?

Most XRP wallets do not charge additional fees for storing XRP. However, network transaction fees apply when sending XRP, and these are typically very low.

Is it necessary to backup my XRP wallet?

Yes, backing up your XRP wallet is crucial. It ensures that you can recover your funds if your device is lost, stolen, or malfunctions.

Can I use an XRP wallet for daily transactions?

Yes, some XRP wallets are suitable for daily transactions. Mobile wallets like Exodus are particularly convenient for regular use.

What is the minimum balance requirement for XRP wallets?

Most XRP wallets require a minimum balance of 20 XRP, which is a requirement of the XRP Ledger to activate and maintain a wallet address.

Read More

• How to Make Money with Cryptocurrency
• How to Withdraw from Binance
• How to Transfer From Coinbase to Coinbase Pro
• How to Transfer from Coinbase to Binance
• How Does Cryptocurrency Gain Value?
• How to Read Crypto Charts

Final Thoughts

Choosing the best XRP wallet is not as easy as it sounds. Even the best XRP wallets each have their pros and cons.

You need to be careful when you are choosing a wallet for your cryptocurrency. Spending time to understand different Ripple XRP wallet options is important to protect yourself.

Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

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