Ripple is not just plain hype. It is being supported by tech heavyweights like Google, which gives it extra brownie points in trustworthiness. It is known as a lightning fast and incredibly scalable digital asset. In fact, hedge funds that will be valued in XRP are being launched by tech experts which proves their trust in this currency. XRP was designed for corporate use as a global payments asset. However, Ripple coin developed on this framework has since gone beyond a payment asset and become a popular cryptocurrency.
With Ripple, payments can be settled in as less as 4 seconds. That is amazingly faster than Ethereum which takes 2 minutes while; Bitcoin can take an hour or more to process a transaction. It has handled 1500 or more transactions in one second and works consistently, 24×7 for providing the fastest payments globally.
From a pure cryptocurrency point of view, Ripple is still in its nascent stages. Most institutional traders moving towards cryptocurrency are being attracted to the dual advantage of Ripple because of which the currency could be waiting for another breakout. It has a market cap of $128 billion [Updated on 5th January 2018] which shows deep investor interest. So why does Ripple get so much attention?
The answer is simple. Ripple was designed to be a bank/institution friendly cryptocurrency and a global payments asset. This means that Ripple can integrate seamlessly with the current banking and payments system and handle transactions in a better manner. It moves away from fiat currency but provides an open source framework designed by world-class talent to work on. Consequently, even those who are the most skeptical about using Cryptocurrencies are finding great opportunities in Ripple XRP.
The price of Ripple XRP has come down this past week which gives you a great opportunity to buy it. Note that the currency could turn out to be the big winner in 2018, with the Wall Street keeping a close watch on its development.
Top 5 Best Ripple XRP Coin Wallets
Do you want to be able to hold and trade in Ripple? Here are 5 wallets that will help you do exactly that.
#1 Ledger Nano S
This simple and secure wallet always remains at the top of every list. This is because the Ledger Nano S provides you a safe hardware based wallet that lets you hold multiple Cryptocurrencies at the same time. It is equivalent to holding real Ripple coins. Your wallet acts as your gateway to the world of Cryptocurrencies.
The Ledger makes it to the top of our list because of its cool design, multicurrency support, and added security. If you like holding Bitcoin and Ethereum along with Ripple, then this is the perfect wallet for you. It has been designed for the ultimate comfort while using digital currencies. The best thing about this wallet is that it allows you to store unlimited XRP coins. Some wallets put limits on coin storage but not here.
You can use Ledger on your computer or even your mobile device and carry your currency wherever you like. As long as you have a compatible device along, there will be no problem in holding to your currency balance and managing it whenever needed. This hardware wallet allows you to send and receive coins with ease. The process is simple and hassle-free and the UI is quite intuitive as well.
Ledger is popular because it provides you added security. As you are not using a desktop or web client but a hardware wallet, you have more control over your holdings. Your coins remain safe from hackers as well. The worst-case scenario in case of a hardware wallet will be theft. However, even in this case, the thief will not be able to make use of your wallet.
You set passwords for your wallet which make it inaccessible for the thieves. To them, it would just be a useless USB device. There is a little built-in display in the device which helps you in checking your transaction in real time. There is even a physical transaction confirmation button for ease of usage. It also allows you automated backups for the account.
#2 Gate Hub
Is it really possible to be interested in Ripple without hearing about GateHub? It is one of the most popular Ripple wallets around and currently supports multiple Cryptocurrencies. You can deposit and withdraw funds very easily with the help of this wallet. You get to see real-time data for the current exchange rates of all cryptos which makes it easier for the investors to keep track of their coins. The only problem that arises with GateHub is that it lengthens the process of buying Ripple.
First, you will have to deposit money directly from your bank account and then buy bitcoins on the platform. Once bitcoins are bought, you will be able to convert them into Ripple coins or other digital currencies. This could be a tedious task, considering that other platforms deal in XRP directly. However, GateHub makes up for that by being directly recommended on the official Ripple Lab website. This makes the investors feel that GateHub is a trustworthy wallet for the Ripple coins.
The wallet wins because it has a very simple and intuitive layout. Even if you are a beginner in the cryptocurrency industry, you will find it very easy to learn how to use this wallet. It keeps a very detailed record of your transactions and even sends you regular emails about your wallet use. It functions very well in buying and transacting in wallets. At the same time, GateHub is being accepted in numerous online stores for payments. Hence, you get more control about what to do with your coins- invest, trade or shop.
The insane popularity of this platform stems from the fact that it has meager transaction fee and even registration for the wallet is free. You get more bang for your buck on Rippex as it extracts less money for transactions and allows you more freedom. Another important thing to note about this wallet is that it is completely free of any government rules and is based in Brazil. This means that the wallet is easily able to surpass some tough and discouraging requirements in Euro and other parts of the world.
However, you should not write Rippex off just because it is not government controlled. The platform carries some really advanced wallet functionalities and follows a stringent verification process as well. It boasts of its privacy and transparency in working as well. The greatest feature of this wallet is the amount of control it provides to the users. You get full rights and better control over your account whether you use it on your PC or mobile.
A winning factor for the currency lies in its absence of coin limits. Though Rippex has limits of coins for Bitcoin, it leaves Ripple free and gives you unlimited coin options. There is more flexibility with your coins which has a great advantage to the users, considering that other wallets are not yet open to this possibility.
The wallet supports multiple currencies too. You can buy a Ripple coin easily by using Euros, US Dollars and the Chinese Yen with ease. Considering these are the three major currencies used for purchasing Cryptocurrencies worldwide, you will not have a problem in getting the crypto you need, no matter where in the world you live. The mobile app of Rippex is also a great development. However, where it really wins is its low transaction fee. You can exchange, deposit or transfer your coins at a fee of 0.2 to 0.3 percent only.
This is another popular Ripple coin wallet, and it is based in Canada. CoinPayments has a very familiar interface. It works quite like a physical bank. It is one of the most diversified coin wallets in the world, accepting more than 75 types of cryptocurrencies. The transaction fee is also amazingly low, standing at merely 0.5% which remains flat across all currencies and transactions. It is one of the most trustworthy cryptocurrency wallets in the world.
Most good cryptocurrency platforms do not limit your coin exchange and storage. CoinPayments also provides unlimited exchange and storage of your Ripple coins. You can even use Ripple to buy stuff online. The platform has collaborations with several merchants which allows you to use it for secure purchases globally. You will have to pay the fee only when you use the wallet for transactions. Otherwise, you can make a CoinPayments account with just an email id. It is free to create an account and deposit. If you are using withdrawals for individual use (non-commercial), even withdrawals are free.
CoinPayments works less as a wallet and more as a large and integrated payment network. However, holding your coins in this wallet has its advantages, especially regarding security and ease of use. It is supported by BitGo, an altcoin security website, which helps in making transactions quickly and more securely on this platform. The multiple sig allows you more control over your money, and there are lesser chances of a hack. Moreover, the platform allows you to actually spend your coins instead of using them only for trading purposes.
Those who are looking to get instant Ripple coins in their wallets always opt for Poloniex. It is the perfect way to buy and store coins in the short term. However, if you chose, you can keep your coin in the wallet for long as well. Many crypto investors like to use Poloniex for buying Ripple coins and then transfer it to their Ledger wallets to keep the coins more secure. Poloniex is very simple and easy to use and has an intuitive interface too. [Techlogitic Crypto Experts have rated Poloniex as the best ripple wallet.]
If you are using Android phones and buy Ripple coins on impulse, Poloniex is the right platform for you. You can convert your existing Bitcoin and Ethereum coins into XRP with this exchange and store them safely as well. The sign-up and verification of the account are very easy too. 2-factor verification helps in making your wallet more secure.
Like most other Ripple wallets, Poloniex also trades in multiple currencies. However, it is loved for its high liquidity as well. You can use the Android app to quickly buy, sell or convert Ripple whenever the need be. You will be charged a nominal fee of 0.15% per transaction.
Note that you can’t work with US dollars or similar currencies on this exchanger. You will find Poloniex useful only if you already have Bitcoin and Ethereum balances. Some users prefer Kraken or Changelly to convert Bitcoins and Ethereum to Ripple coins and then store them in Poloniex as it has better liquidity than other platforms.
Poloniex was hacked back in 2014 but has since recovered the attack and created extremely secure systems of the transaction for the users. Now you can get more control of your money in a safer environment.
Top 5 Best Ripple XRP Coin Wallets Available In the Market
While buying Ripple, make sure you depend on trustworthy and secure platforms only. It is a common saying that no wallets holding cryptocurrency are secure. Therefore, some users like to diversify and use multiple wallets to keep their money safe. It is quite like avoiding the ‘all eggs in one basket’ syndrome.
You use a few different types of wallet. Even if one gets hacked or faces a problem, others can help you salvage your investments. The wallets we have mentioned above range from desktop clients to Android applications and hardware to exchange platforms. We hope that you are also able to find the perfect blend of crypto storage.
If you have any questions, feel free to ask in the comments below.