Ripple (XRP) is currently the second-highest cryptocurrency in the market by market cap.
In the past month, the price has gone up by +977% & people who have invested in XRP are making a great profit.
If you are planning to buy Ripple (XRP), you may have a couple of questions:
- Where should you store XRP?
- What wallet supports XRP?
- How to buy XRP?
Read the new article: Best Websites to buy XRP (Ripple)
Here are the exchanges from which you can get Ripple :
- Binance (They are offering limited registrations, so if you able to register then it’s your lucky day)
- CEX: If you want to buy XRP directly using your credit/debit card, this is the best solution as of now.
- Changelly: The fastest way for you to convert BTC or ETH or other cryptos to XRP. Something everyone is loving.
Update: I have updated the list of XRP wallets and removed a few wallets like Gatehub and one more as a lot of users have complained about losing their funds. At this moment (June 2020), below listed wallets are best we got to store XRP. I use the first one.
In this guide, I will help you understand everything you need to start holding XRP.
I have also shared some of the best XRP wallets in the market that are safe, secure, and trusted by other cryptocurrency enthusiasts like you.
Let’s start with where can you get XRP…
Where can you buy XRP?
There are many places from where you can get XRP.
The best way is to buy Bitcoin & exchange them for Ripple.
- Changelly is a popular website to exchange BTC (or other cryptocurrencies) for XRP. Personally, I’m a big fan of Changelly.
- Another method is to use an exchange like Binance & buy XRP using Bitcoin or USD.
Once you have finalized the way you want to get XRP, the next thing to figure out is where to store them.
Here are exchanges from where you can get XRP:
XRP Wallets: Best Wallet For Ripple Cryptocurrency
Before I share about top wallets for XRP, you need to know one important thing:
Unlike Bitcoin wallets which are free, Ripple wallets require you to have 20XRP to book your wallet address.
So if you add 1000 XRP to your Ripple wallet, 20XRP will be used to book the wallet address. This is one reason you don’t want to use multiple wallets for XRP (unless required).
Pick the right wallet from day one so that you don’t end up losing 20XRP on various wallet addresses.
Do remember, there are various kinds of cryptocurrency wallets & you can Best Bitcoin Wallets.
Ledger Nano S is a hardware wallet that has recently added support for XRP.
Being a hardware wallet, it is one of the best ways to store your cryptocurrency as it offers great security, ease of use, and you can carry it with you anywhere.
I recommend Ledger Nano S as it supports many popular cryptocurrencies including:
Dash, BTC, ETH/ETC, Stratis, Zcash, and now it supports XRP.
You should order it from the official site here & it will take 4-7 days to have it delivered to your doorstep. Here is a video demo of Ledger Ripple wallet:
Once you have it, you can check out our Ledger Nano S video library to learn how to start using the Ledger Nano S.
Toast Wallet is a free open-source XRP wallet which anyone can use.
The creators of this wallet say “simple enough for your grandma but safe enough for a Swiss banker”.
The good thing about this wallet is that it is a non-hosted wallet where you are always in control of your private keys.
As of now, Toast wallet is available on Android, iOS, Windows & Mac.
Atomic Wallet is a free non-custodial desktop application that supports XRP along with other 300+ cryptocurrencies.
It’s noteworthy that Atomic enables users to not only manage their XRP, but also exchange XRP via a built-in exchange engine powered by Changelly and buy XRP for a bank card.
These features are provided in a simple interface protected by a mnemonic seed. The seed is generated after the first launch of the application and requires you to store it safely.
You fully control your funds, and your private keys become encrypted on your device and never leave it.
Guarda is a popular non-hosted Ripple wallet that you can use. The wallet has been around for a while and you can download it for all major platform including Windows, Linux, and Mac.
It is a lightweight and secure wallet where you control the key. Getting started is easy and you are the complete owner of the wallet.
Exarpy is another non-hosted Ripple wallet which is accessible from any web browser.
Using this wallet you can store/receive/send any amount of Ripple without any third party involvement.
But this wallet is paid wallet and charges 0.025 XRP per transaction and this includes the Ripple network’s fee too.
If you have any more questions regarding Exarpy then you can read their FAQ section here before getting started.
Gate.io is not a typical XRP wallet but it’s a full-fledged exchange. They offer a mobile app that makes it easier for us to send/receive and also trade XRP coins from the mobile phone. They are one of the few high-quality exchanges that are currently accepting new registrations.
Binance is a fast-growing exchange that started in the mid of the 2017 year and is rapidly adopting many new cryptocurrencies for its users. If you want to get XRP right now, you can use Binance to get an XRP wallet.
However, you should not store your XRP for more than 1-2 days on an exchange (any exchange) as exchanges can shut down or go into issues at any time and put you at risk of losing your stored coins.
When I needed to get ahold of XRP urgently, I used Binance to convert my bitcoins into XRP & stored them in my Binance wallet.
Another good thing while buying and storing your XRP from Binance is that you can claim your 50% discount on the trading fee when you exchange BTC or ETH to XRP.
You can, later on, transfer these XRP to the Ledger Nano S (or any other hardware wallet that supports XRP).
With time, I expect more popular wallets to integrate XRP & make it easier for us to store Ripple.
However, for now, these are the top Ripple wallets that you can start using right away.
If you are someone who is investing in cryptocurrencies, I would recommend you to just order Ledger Nano S hardware wallet which ensures that you remain in total control of all of your coins.
Note: Binance & Gate both are exchanges that buy/sell XRP and have their inbuilt exchange wallet too. We don’t recommend you to hold your XRP in these inbuilt wallets for more than 1-2 days assuming you are lucky enough on those days. So use these exchanges as wallets for a long term at your own risk. Also, Toast Wallet and Exarpy wallets for Ripple are suggested by our community members and we have not used both of them yet but they look legit enough after a litmus test.
Have a question about storing XRP? Let me know in the comments section below. Also, what’s your prediction for Ripple in the coming days?
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Harsh Agrawal is the Crypto exchange and bots expert for CoinSutra. He founded CoinSutra in 2016, and one of the industry’s most regarded professional blogger in the fin-tech space.
An award-winning blogger with a track record of 10+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.
An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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