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Ripple is an innovative blockchain network that’s changing the way money crosses borders in the banking space. Already adopted by banks like PNC, Santander, and the Royal Bank of Canada (not to mention remittance services Western Union and MoneyGram), Ripple is already a fintech revolution, and XRP is definitely a cryptocurrency to own.
To invest in Ripple XRP, you’ll need a Ripple wallet. We’ll take a deep dive on Ripple wallets in the page below. By the time you’re done reading, you’ll have chosen a wallet, know how to download and install, and be prepared to send, receive, and invest for the long term. Let’s get started!
What is a Ripple/Crypto Wallet?
Ripple is digital money, so it must be stored digitally. A Ripple wallet is a piece of software that allows a user access to their XRP, so they can send, receive, trade, and store according to their personal needs.
Ripple wallets manage secret codes called “Private Keys” that tie certain Ripple coins to their rightful owners. Without these keys, no one can buy, sell, or trade Ripple. Ownership equals access, and “Private Keys” confer ownership.
However, it’s very inconvenient to keep track of long alphanumeric codes, so crypto developers created Ripple wallets software. Ripple wallets manage your Private Keys so that you never have to think about it. They also provide a convenient user interface so you can transact with your Ripple.
Ripple wallets are made for different devices. They can be stored on your phone or computer. Some are even housed in hardware of their own; these hardware wallets are disconnected from the internet to prevent hacking theft.
Ripple wallets also exist on crypto exchanges, because whenever you buy Ripple, it has to be stored somewhere. Exchange wallets are only meant for temporary storage, or for balances involved in trades.
Your Ripple and other cryptocurrencies will always be safest in a crypto wallet you control. Even better, store coins meant for long term investment in “cold storage” wallets, not connected to the internet.
How to Create a Ripple Wallet
It is safe to buy Ripple from IQ Option as it is a fully regulated platform licensed by the Cyprus Securities and Exchange Commission (CySEC). Moreover, it makes use of advanced security protocol as well as industry standard encryption to keep user funds secure.
When you buy Ripple on IQ Option, it will reflect in your wallet known as My Wallet. This is the platform’s native wallet, which is automatically created upon account registration. But you can transfer the funds to another wallet if you so wish.
IQ Option works with cryptocurrency exchanges to complete your purchase of XRP.
To buy Ripple from IQ Option, follow these steps:
Step 1 – Select the Amount
First, enter the amount (in fiat) that you want to use for the purchase. The system will calculate the Ripple you will get from that amount based on prevailing rates.
Step 2 – Account Registration
Sign up for an account on the platform by providing your email address and a unique password. You can also simplify the process by using your Google or Facebook account details to log in.
Registering an account will allow you to make your purchases and store funds securely with the licensed broker.
It will also give you access to the native wallet where you can buy and sell crypto as well as make deposits and withdrawals with ease.
You can also trade on the standalone app or on mobile or desktop after creating an account.
Step 3 – Buy Stellar
Next, enter your card details so as to complete the purchase.
If you already have an IQ Option account, making a purchase is as simple as going to the My Wallet page and entering the amount you want to invest. Next, click on your fiat balance to fund the transaction and wait for the XRP to reflect.
To keep your wallet secure, make sure you enable two-factor authentication. With this feature turned on, you will get a code on your phone number with every login attempt as a secondary security layer.
Binance is an internationally used cryptocurrency exchange hub. If you’re interested in trading Ripple, you’ll likely use Binance often. We’ll give you a quick overview of how to create a Binance account so you’re ready for this exchange wallet.
Complete new registration at Binance.com. You’ll need to provide your email address and create a new password for the site.
Respond to the email Binance sends you by clicking the link therein.
You’ll arrive within your new Binance account. Supply a little more info, and you’ll unlock Ripple buying functionality.
Note: You can’t buy Ripple with fiat money (USD, EUR, etc.) on Binance.
Step 2 – Go to “Funds” > “Balances”
This is where all of your Binance wallets are kept.
When you buy any cryptocurrency on Binance, it’s delivered to one of these wallets.
When a wallet contains coins, it appears at the top of the list. You can also send coins to your Binance Ripple wallet, and withdraw from the same.
Exodus is a software wallet for computers and laptops. Download and setup couldn’t be easier. In a couple of minutes, you’ll have a perfectly good place to store Ripple and a ton of other cryptocurrencies.
Step 1: Download Exodus.
You can find the Exodus file you need at Exodus.io. Choose the right file for your operating system.
Step 2: Open Your Exodus Ripple Wallet.
Exodus is a multi-currency wallet, supporting many dozens of cryptocurrencies. Choose “Wallet” on the left column, and select the Ripple XRP wallet. This will lead to a new screen with options for sending, receiving, and trading XRP for other wallet-supported assets.
The Infinito Wallet advertised itself as a universal crypto wallet, because it supports a bunch of cryptocurrencies. If you trade mainstream crypto, this can be a one-stop-shop for you. Infinito is also easy to use and attractive to look at. Here’s how to get your own copy.
Step 1: Download Infinito Wallet
At Infinitowallet.io, click “Download”. Choose the file made for the device you own. Once the download is complete, install Infinito. Setup is a breeze. Now open your new app.
Step 2: Go to the Ripple Wallet already within Infinito
Infinito Wallet already includes a Ripple wallet. Open it up to see your Infinito Ripple address and all Ripple wallet functionality.
Best Ripple Wallets in Your Country
Coinbase is the best all-around Ripple wallet experience you can have in the UK.
Coinbase entered the crypto investment space years ago as an exchange. Today, they offer a secure wallet solution known as the Coinbase wallet.
The Coinbase Wallet is a bespoke crypto storage solution, for Ripple, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The Coinbase wallet occasionally adds new currencies, so keep your eyes peeled if you are a more diverse trader.
Coinbase is regulated and licensed in multiple international jurisdictions. They were trusted in the investment industry before cryptocurrency even existed.
Coinbase is to be trusted specifically because they’re not newcomers. This is an experienced fintech player, and their Ripple wallet feature is one of the best in the industry.
Coinbase is no longer limited to the UK. Having jumped through multiple regulatory hoops around the world, it’s now available in more than 60 nations, including the US and Canada.
The Coinbase wallet application is the most intuitive we’ve seen, and it’s a secure solution for newcomers to the United States and Canadian industry.
Binance is the best Ripple wallet we know about for people living in Australia and New Zealand. This is because it offers to most features, and access to the wider world of crypto trading.
Though not the best choice for long term storage, Binance users have access to dozens of cryptocurrencies, so it’s an excellent choice for any active crypto trader.
Binance is also a global standard worldwide, so Aussies and New Zealanders will feel connected to a crypto industry that sometimes feels faraway.
Differences Between Exchange, Hardware and Software Crypto Wallets
There are three main types of Ripple/Cryptocurrency Wallet. Here are their similarities and differences.
Best Ripple Wallet on Mobile
Best Ripple Wallet Apple
The Ripple wallet you use on your phone is meant for convenient daily access to your XRP.
For this reason, the Coinbase Wallet is going to be your best choice. It gives you the ability to transact with XRP whenever you need it.
Coinbase isn’t meant for long term storage, but neither is any mobile app. For large balances of XRP, you shouldn’t be using your phone at all.
Best Ripple Wallet Android
We like the Jaxx app for Android devices. Sure, you could use Coinbase wallet as well, but it’s a different high quality wallet with a different feature set.
Jaxx supports Ripple and many other cryptocurrencies, and even offers inter-wallet trading of all supported currencies.
It’s convenient and fairly intuitive for newcomers, and fairly feature-rich for traders with a bit more experience. It’ll certainly serve the daily mobile needs of the Ripple investor.
There are tons of Ripple wallets for mobile devices. We’ll cut to the chase and give you the best option for Android and Apple. You can find the main differences regarding Crypto Applications below:
You never would have guessed years ago, at the genesis of Bitcoin, that hundreds of cryptocurrency wallets would one day be available. This is the industry we’ve inherited, so it can be confusing for the new Ripple investor to choose the best option.
We hope you now understand the different options available to you, as well as the criteria by which to make the best choice. When evaluating a new Ripple wallet, always prioritize security and ease of use. Also, pay attention to reviews you find on independent forums, like BitcoinTalk and Reddit. You’ll learn from others’ experiences and avoid making mistakes.
When you choose a wallet, keep your keys to yourself. Guard your passwords. Use best practices and you should not lose any of your precious Ripple balance. This will keep your XRP safe for months and years to come. Hopefully by that time your XRP will have gained incredible value, all thanks to your trusty Ripple wallet.
More Cryptocurrency Wallets
Certain wallets like Jaxx and Exodus support dozens or even hundreds of cryptocurrencies. This is very convenient for people who invest in numerous cryptocurrencies, and don’t want to have a different wallet for each coin.
Never send a coin of one type the the address of another coin type. This will almost always result in the loss of your funds. Bitcoin is sent only to Bitcoin addresses, Ethereum only to Ethereum addresses, etc. There are some exceptions, such as ERC20 tokens (coins created using Ethereum) being able to be sent to Ethereum addresses, but you should research these cases individually. In all other cases, only send your coins to addresses for coins of the same type.
Hardware wallets and paper wallets are the best choice for long term storage. A paper wallet is nothing more than the private keys associated with your coins, printed or written down. They can be typed into the blockchain network at any future time, bringing up the coins you own. Hardware wallets work the same way, except they store the keys for you without your having to write them down. These options are known as “cold storage”, because neither involves an internet connection, thus eliminating the possibility of hacking and internet scams.
Some wallets, like Coinbase, have this functionality, but there are very few such options for Ripple traders at present.