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Are you thinking about investing in Ripple, XRP?
Or maybe you already have and now you are looking to pick a good and reliable Ripple wallet to use?
So in this guide, I wanted to share my thoughts and recommendations on the best XRP wallets that you could pick from in 2020!
7 Best Ripple wallets (XRP) list
Ripple wallet – works similarly to a traditional wallet such that it enables you to store, receive, as well as send XRP coins.
Now that you already know what exchanges to get your XRP coins from, and how to choose a good wallet. The next step is picking a wallet. So what are some of the best XRP wallets available?
I am talking about a reliable, safe, trustable, and secure wallet. Here are a few of these wallets, hopefully, this list makes your work easier.
Note that, Ripple wallets are not like Bitcoin wallets which are typically free. A user needs at least 20 XRP to book a wallet address. That is the reason why users are discouraged from using multiple wallets.
Ensure that you pick the right wallet from the beginning to avoid losing 20 XRP on various unnecessary addresses.
1. Ledger Nano X
Ledger Nano X is a Bluetooth enabled secure device that stores your private keys thus ensuring the safety of your crypto assets. It an extensive capacity enabling you to install over 100 applications.
Also, it supports several other coins including Ripple, Bitcoin, and Litecoin among many others.
It eases the management of your crypto by enabling you to check your balance and receive your coins directly with Ledger Live app, you can even manage other assets using external wallets.
Not to mention, it comes with a great deal of mobility, you can manage your assets wherever you go. Also, you can easily back up your assets.
Lastly, it comes with a state of the art security being that your private keys are stored in a certified secure chip just like in credit cards and passports. Therefore, you can leave your fears of hacks behind.
So when it comes to picking the most secure and best Ripple wallet I think
2. Ledger Nano S
Ledger Nano S is a hardware wallet with an OLED screen attached to it for the tracking of your cryptocurrency holdings on the Blockchain.
It works similarly to a USB device, such that a user can plug it into any device via the USB port. It also supports a wide range of cryptocurrencies which include Ethereum Classic, Ethereum, Ripple, Litecoin, Dash, Stratis, Zcash, and Bitcoin among others.
This wallet allows you to store an unlimited number of XRP coins.
Your keys are stored in an offline environment such as your PC thus protecting you from hackers.
All you need is a device that is compatible with your device such as your Android phone using OTG cable or PC running Windows, Chrome OS, Linux, and Mac.
It is small, easy to carry, convenient, and hacker-proof.
3. Trezor Model T
Trezor Model T is a hardware wallet designed to store and encrypt your digital assets. It gives you financial freedom because you own and run your assets.
The device is completely isolated thus completely protecting your private keys. The interface is easy to maneuver thus a user can perform complex operations with ease.
It is very easy to back up your entire wallet thus easy retrieval of information.
It supports 2FA for additional protection. Also, they operate openly and transparently thus giving the users confidence in its operation. Not to mention, their customer support and responsiveness is top-notch.
So overall this is probably one of the best hardware wallets to pick of the bunch.
4. Trezor One
Trezor one is probably the pioneer hardware wallet, it survived a while for good reason. For one, it supports multiple coins such as Bitcoin, Stellar, Dash, Zcash, Bitcoin Cash, Litecoin, and Bitcoin.
It was created by a pioneer company in the Bitcoin sphere. This hardware assures it, users of a high level of security, thanks to its additional security measures such as PIN codes and passphrases.
It is the first-ever hardware wallet for cryptocurrencies. And today it still remains a firm favourite amongst crypto holders.
GateHub is a top online wallet that is very easy to use. It also supports a wide range of coins which include Ripple, Ethereum, Ethereum Classic, Augur, REP, QAU, and XAU.
Also, it supports fiat currencies such as INR, USD, and EURO among others. It even allows precious metals like silver and gold.
This wallet also takes the users’ security very seriously and has put several measures in place such as 2FA for additional security.
The transaction speeds are higher than those offered by banks and other cryptocurrency wallets. you have to give your details thus you can trade anonymously.
7. Edge wallet
Edge wallet is a free open-source mobile wallet that is available only for mobile devices. It can be used with both Android and iOS versions. It deals with both cryptocurrencies and fiat currencies.
A username and a password are required during sign up. This wallet gives the users total control of their money.
It is very secure since it has several additional security features in place. These features include password recovery and a 2FA setup. It also has a decentralized server system connecting all its users thus even if the servers go down, a user will continue using the wallet.
Edge wallet has a very responsive customer support team that is available across multiple channels and social media platforms.
8. Ripple XRP Paper Wallet
Ripple paper wallet is a great option for people who prefer a physical storage device. Just as the name suggests, you store your cryptocurrency details such as your private keys on a piece of paper.
It is fairly safe and convenient for users who are not very conversant with phones and computers. It has been rated as one of the best offline XRP wallets.
Ensure that you store this piece of paper safely and if possible create copies in case the original copy gets damaged. Do not expose this paper to other parties for the sake of your safety.
How to pick a good Ripple wallet
The first thing to consider is the security; a user needs to ensure that the wallet has more than one security feature attached to it. It should at least have a PIN, Password, 2FA among others.
The transaction fees also have to be low and affordable. Also, a wallet needs to ensure your anonymity and allow you to handle as many coins as you wish (multi-coin support).
What is Ripple?
Ripple (XRP) is a peer-to-peer powered cryptocurrency that is created in such a way that it works seamlessly with the internet to enable fast, secure and direct payments on the web.
It is one of the largest cryptocurrencies by market capitalization thus making it quite popular among crypto enthusiasts.
The Ripple coin was first implemented in 2004 and it wasn’t until 2011 that the XRP digital currency was issued. A new system was developed for the coins to eliminate Bitcoin’s shortcomings such as high power consumption, slow transaction speeds, and reliance on centralized exchanges.
Some of the advantages offered by this coin include:
- Security and reliability
- Elimination of third party interferences
- A transaction commission is charged to get rid of scammers
Now that you have understood what Ripple is, you probably want to buy the coin and have a couple of questions such as how to buy the coin, where to buy them, where to store them, and the best crypto wallet for your coins.
Some of the best XRP exchanges include:
For a more extensive guide to Ripple and where to buy XRP click here.
The wallet of choice varies from users to users based on what features they are looking for.
The above wallets are very secure, convenient, easy to manage, and of course, they support a wide range of coins. Hopefully, the list above with steer you in the right direction.
So no matter what you’re looking for. A secure and reliable hardware wallet? A modern and nice-looking mobile wallet? Or a paper wallet to keep your XRPs safely secured?
Either way I think there is a wallet for everyone on this list. And in order to pick the best Ripple wallet for yourself I’d say try a few ones out. But my personal favourite is always to go with a hardware wallet.
Hello and welcome to Go Cryptowise.
My name is Per Englund and I’m a long-term fan and investor and trader of Bitcoin and other cryptocurrencies. I caught the attention of Bitcoin like many other several years ago, but it was first around 2016/2017 that I truly got into cryptocurrencies and blockchain technology.
I have since traded, bought, researched and learnt about this new emerging space to the fullest. When not producing crypto-content I create and design new products and businesses. And I want to combine my business experience with my passion to create meaningful content for all our readers.
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Grayscale Total Assets Value Soars Above $50 Billion Following the Recent Bitcoin ATH
Top-tier digital assets manager Grayscale has seen an increase in the value of its total AUM (Assets Under Management) to above $50 billion as bitcoin’s price marked a new all-time high recently.
The Grayscale Bitcoin Trust (GBTC) is now worth over $41 billion, while the Ethereum Trust (ETHE) holds over $7.4 billion.
The Road to $50B
As reported, Grayscale added five new tokens to its list of trust offerings, including Chainlink (LINK), Basic Attention Token (BAT), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT).
According to the firm, this integration came shortly after seeing a large inflow of clients demanding exposure to other cryptos, while most dominant assets consolidated at the beginning of March.
04/14/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
— Grayscale (@Grayscale) April 14, 2021
Now, the company reports that its total assets under management (AUM) have grown in value to more than $50 billion for the first time ever. It’s a major milestone for Grayscale.
At the time of writing, BTC is trading at around $63,000 while Ethereum’s ETH eyes $2.5K and a lot of other altcoins looking very well across the board.
AUM Growing Fast
As the interest for crypto assets increases, the firm’s total AUM is growing rapidly. On April 9, Grayscale’s total AUM grew by more than $1 billion in less than 24 hours. Michael Sonnenshein, the CEO, has stated that the firm amplified its suite of investment trusts as accredited investors and clients were demanding exposure to more cryptocurrencies.
Institutional investors have also intensified their demand, while Bitcoin mining companies are making big purchases of Antminers. As reported, Riot Blockchain bought 42,000 S19 Antminers from crypto-mining company Bitmain, totalling a purchase worth 138.5 million.
Finance officials pour cold water on cryptocurrency amid Coinbase celebrations
Finance officials from both sides of the globe are taking the opportunity to criticize the value and utility of cryptocurrencies, as media focus intensifies on the space following Coinbase’s direct listing on the Nasdaq.
Bank of Korea Governor Lee Ju-yeol said cryptocurrencies had “considerable limitations” as a method of payment, following a monetary policy meeting on Thursday, reports local outlet KBS World.
While asserting that it was difficult to accurately value cryptocurrencies due to their volatile price fluctuations, Lee said the BOK had not shifted on its stance that they had no intrinsic value.
Lee also referenced United States Federal Reserve Chairman Jerome Powell, noting that the head of the Fed shared his sentiments on the crypto space.
Hours earlier, Powell stated in a virtual interview with The Economic Club of New York that cryptocurrencies were purely speculative, adding that they had not been readily adopted as a means of payment.
“They’re really vehicles for speculation. They’re not really being actively used as payments,” Powell said, according to CNBC.
Flying in the face of Powell and Lee’s comments is the recent adoption of cryptocurrency by major global payment processors. Visa, Mastercard and PayPal all began to implement crypto payment options in the past few months, while Tesla introduced Bitcoin (BTC) as a payment option for its electric car business.
That’s not to say Bitcoin and other cryptocurrencies are a sure thing as far as payment methods go. Bitcoin’s average transaction fee is currently around $30 due to its limited block size and resultant network congestion. For this reason, payment processors are often forced to eat such transaction fees as a cost of doing business. Until they can no longer afford to, as was the case with gaming platform Steam in 2017.
One point of agreement shared by Powell and the crypto community is the suggestion that cryptocurrency could be compared to gold — but for completely different reasons. Cryptocurrency (particularly Bitcoin) proponents argue that the technology can be used as a long-term store of value in the same manner as a precious metal.
Powell, however, intended the comparison to be derisory. The Fed chairman’s opinion of gold seems to be no better than that of cryptocurrency.
“For thousands of years, human beings have given gold a special value that it doesn’t have,” said the chairman of the fiat-printing center of the United States.
As XRP Skyrockets, Ripple CTO David Schwartz Wants You To Consider Selling Some Crypto Holdings
David Schwartz, the Chief Technical Officer at Ripple Labs, has been giving some pretty positive investment advice, but it comes at an interesting time.
Simply put, the CTO believes that if someone has life-changing amounts of different cryptocurrencies, that person should definitely consider selling some of the said cryptos in order to reduce the risk of failure and over-exposure. This was communicated to Schwartz’s followers in a tweet, and he later clarified that this investment advice is not representative of some prophecy or projection about the future of any cryptocurrency market, and is mostly just general advice.
Schwartz said in the tweet that it was likely to be his “least famous tweet” ever, but he nonetheless advised his followers that selling a considerable portion of their respective cryptocurrency assets isn’t a bad idea, particularly given the industry’s unpredictable nature. This is definitely real, as there have been countless examples of people keeping their investments for far too long, only to see the valuation of those assets plummet by the time the owners attempt to cash them out.
Furthermore, with the present state of the cryptocurrency industry, XRP has risen by 850 percent this year while Bitcoin has simultaneously risen by 790 percent to a new all-time peak of $64k.
Schwartz has, in the past, taking his own advice. In 2019, he admitted to selling $40,000 in ETH prior to the late-2017 bull run in order to buy solar panels. In the most recent thread, he mentioned that, in retrospect, he could not have sold the majority of it. “I guess I was hoping it would come back down so I could buy back in,” he tweeted. “However, it did not succeed. Of course, you may come to regret taking smaller risk,” he said.
Ripple V. SEC
The legal battle between Ripple and the SEC is still ongoing. Despite recent wins for Ripple, the matter is still far from settled. Furthermore, during a legal proceeding, executives normally maintain a low profile so that their comments do not become weapons to be used against them.
Schwartz, on the other hand, was thinking of cryptocurrencies in general, not XRP directly, and he also suggested that cryptocurrency prices can and so often do deteriorate.
However, XRP seems to be an exception to this rule, as its particular price has been slowly stretching, hitting its highest level in three years at just over $1.8.
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