The world of cryptocurrency is currently booming, and while there might be a lot of talk about Bitcoin at the moment, right behind it is another currency by the name of Ripple. Ripple (also referred to as XRP) is the second largest cryptocurrency based on market cap, and like bitcoin, it’s moving at an insane pace. Ripple currently has a lot of potential, but if you want to make the best out of it, you need to be using the best ripple wallet.
A Ripple coin wallet is used for storing/housing the Ripple that you collect — essentially acting as your virtual hub for this currency. There are a lot of wallet options out there for Ripple, but when dealing with something along these lines, you want to ensure that you’re only using the most secure and feature-rich option available.
In today’s guide, we’re going to show you just how to do that.
Here are our tips and suggestions for using the best Ripple wallet in 2017.
Where to Buy Ripple
Before you get your hands on a wallet for the Ripple that you mine/collect, you need to first actually get some. There are plenty of different places from which you can purchase XRP, but the best way that we recommend is by first purchasing Bitcoin and then exchanging that for Ripple.
There are a few different websites that allow you to exchange Bitcoin for Ripple, but the two best ones include ShapeShift and Changelly. These two sites off the most stress-free way of going about things, and in our testing, offer the simplest user experience.
However, if you’d like a few more options, you can also check out Bits, Bitstamp, and Coincheck for purchasing Ripple as well.
Choosing the Best Wallet for Ripple
Once you’ve got your hands on some Ripple, it’ll be time to decide which wallet to use.
When it comes to cryptocurrency of any kind, there are two main types of wallets to choose from — hardware and software ones.
Hardware wallets are physical devices that you can actually carry around with you, whereas software devices exist as either an app on your computer or on your smartphone.
Both options work great and serve their own purposes, and the best ones that you can get include the following.
Ledger Nano S
Our first choice for a Ripple wallet is the Ledger Nano S. This is a physical/hardware wallet, and although it’s been around for some time now, it recently just got support for the Ripple cryptocurrency.
Hardware wallets like the Ledger Nano S are one of the most secure ways to store your virtual currency, and in addition to this, it’s also extremely easy to use and blissfully simple to take with you wherever you go.
The Ledger Nano S features a PIN code security feature for maximum protection over your funds, and in addition to Ripple, you can also use the device to store Bitcoin, Dash, ETH/ETC, Zcash, and Stratis.
Gatehub is a Ripple wallet on the software side of things, and although some don’t consider software wallets to be as secure as hardware ones, most sites/apps now offer similar security features and options as to what you’d find with a hardware wallet.
You can access Gatehub via its official website, and after creating your account with the service and verifying your information, you can then begin to deposit Ripple that you already own into your account. Additionally, if you don’t yet have any Ripple, you can purchase it directly from Gatehub and then have it added to your wallet that way.
Buying your Ripple from Gatehub directly will cost you a bit more money, but for folks that are looking for the most convenient wallet/purchasing process around, paying for that ease of use will likely be well worth it.
Another software wallet that we’ve really come to love recently goes by the name of CoinPayments. CoinPayments supports multiple cryptocurrencies, and after making an account with the service, you can use it to store all of your Ripple and other currencies that are currently booming in the cryptocurrency world.
What’s worth noting is that, if you choose to use CoinPayments, you’ll only be able to receive Ripple if you properly add the destination tag that CoinPayments assigns to you when creating your account.
Something that we especially love about CoinPayments is that it goes above and beyond a traditional Ripple wallet. Along with being able to securely store your Ripple funds, you can use CoinPayments for finding various merchants that accept the cryptocurrency as a form of payment.
The fourth and final Ripple wallet that’s worth considering is Rippex. Rippex is available on all major desktop systems (Windows, macOS, and Linux), and along with an easy and functional user interface, Rippex also offers a total open source system that’s regularly updated with top of the line security from the Rippex community.
You can create and log into your account to store your Ripple funds online with Rippex, but along with this, you can also choose to port your funds over to the desktop app and have your funds stored offline on your computer. Being able to keep your funds online with the website and offline on your computer is great for having choice over how you want to manage everything, and it’s something that really like having access to.
There aren’t quite as many features here as what you’ll find with CoinPayments, but for people looking for a simple and clear-cut-system for storing Ripple on the computer, this is a great route to take.
Ripple wallets are quickly becoming a dime a dozen these days, and with so many new options quickly popping up, it’s important to make sure that you’re only spending your time with wallets that are truly worth your business. All four of the Ripple wallets here are the best that the market currently has to offer, and no matter which one you end up choosing, you can rest easy knowing that your Ripple is as safe as it can be.