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The Best Wallets for XRP (Ripple) in 2022


cryptoknowmics.com 14 May 2022 17:58, UTC
Reading time: ~5 m

Choosing a safe and reliable XRP wallet isn't as easy as it seems. Protecting yourself against scammers or the unintended loss of your hard-earned coins or funds is crucial. The best XRP wallets, 2022  provide a safe place to keep your assets, have a simple KYC requirement, and have little transaction fees. If you're unsure which wallet is best for XRP since there are so many on the market, this guide will help you decide. Here is our list of the top 5 best wallets for XRP:

Ledger Nano X

 Ledger designed a hardware wallet that’s compact enough to fit on a keychain. The wallet is an excellent improvement to Ledger Nano S. Its high-security mechanism allows you to store cryptocurrencies and spend them whenever you want safely. The device requires your PIN code and cannot be reset without it; hence it's very safe. If you wish to store your XRP tokens for long without accessing them, a hardware wallet such as the Ledger Nano X would be ideal. Hardware wallets are small portable devices - like flash disks. They keep your private passwords, PINs, or information offline and connect to the internet only when plugged into a computer. This feature adds an extra layer of protection.

Pros

  • Highly secure
  • Advanced customer support
  • Supports a diverse portfolio
  • Great compact design
  • You can manage your wallet from a smartphone

Cons

  • Quite pricey
  • No coins or assets can be bought through the wallet

Atomic Wallet

 Atomic Wallet is the first atomic swap-based web wallet. It has a built-in decentralized exchange. The "physical" wallet is a PC program that you can install on your computer. Your private keys and other information will be encrypted and kept on your computer. It aspires to be both simple and powerful. It is easy to use even if you have no prior relevant skills. Atomic Wallet is entirely free to download and use, while certain services may have varying costs at certain times. You can buy bitcoin using a credit card and have it sent immediately to your wallet, but be advised that there is a large 5-7% commission and a minimum $10 cost levied for each operation.

Pros

  • Easy to use
  • Secure cold wallet
  • Supports up to 500 coins

<h3Cons

  • It doesn’t support the hardware wallet option

Exodus

 Exodus is a multi-currency desktop and smartphone wallet application - ideal even for beginners. The wallet stands out for its minimalist design and excellent customer support. The lack of bespoke network fees for Ethereum and other altcoins and the fact that it is not totally open source are the two biggest drawbacks of Exodus. The encryption keys to access your coins are stored on your smartphone or desktop. Exodus is also a compact wallet, which means you won't have to download the entire Blockchain to your device, rendering the first setup a breeze. Users can benefit from the large assortment of supported virtual assets, simplicity of use, and self-custody. New users are reassured of safety by the lack of security issues in the last five years, while more experienced traders will benefit from the option to hold assets and interconnect with Defi platforms. The wallet is also interoperable with TREZOR hardware wallets, permitting you to utilize Exodus easy functionality while maintaining the security of TREZOR hardware wallets.

Pros

  • Simple design
  • Easy to use/li>
  • Offers great customer support
  • Sleek design

Cons

  • Susceptible to hacks
  • High Transaction fees

 

Trezor T

 The Trezor Model T offline wallet is a virtual currency wallet created initially with Bitcoin in mind. The wallet now includes XRP. Only when the gadget is linked can you access your XRPs. Assets are protected from hacking and security breaches while they are unplugged. While the wallet may scare novice users and is slightly more expensive than its competitors, it is one of the most secure solutions on the market today. If the wallet is lost, the user can create a backup using their 12-word recovery phrase. Customer service is available 24 hours a day, seven days a week, to help consumers with their problems.

Pros

  • Great security features
  • Easy to set up with minimal KYC requirements
  • The modern touch screen interface

Cons

  • Expensive to buy
  • Requires better customer support

Edge Wallet

 Edge Mobile wallet allows anyone to store immediately, trade, send and receive cryptocurrencies like XRP and others. Users can convert XRP quickly and easily with ShapeShift integration. Client-end encryption safeguards the wallet, with private keys held on the user's local device. Additionally, as users are not subjected to issuing any personal information to Edge, such as their contact details, address, or ID, it ensures confidential transactions. It also works with Simplex to allow customers to buy digital assets with their credit cards. Buying XRP through Simples is costly because they charge up to 6%, although no costs are incurred when receiving XRPs and other cryptos.

Pros

  • Beginner-friendly
  • Earn interest on crypto
  • In-app crypto exchanges
  • Secure

Cons

  • Supports a limited number of cryptos
  • Doesn’t hold fiats

Author's Take

Choosing the best crypto wallet for ripple is more complex than it appears. Even the finest XRP wallets have their own set of advantages and disadvantages. The Ledger Nano X is the safest wallet for holding Ripple (XRP) currency available. Knowledge and understanding are essential for secure XRP storage, irrespective of the storage mechanism. Effectively maintaining and dealing with XRP requires learning how to transmit and receive XRP, understanding crypto security methods properly, and researching reliable products.


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