The best XRP wallets, including both software and hardware wallets, to safely manage Ripple’s native cryptocurrency XRP!
Ripple has also recently announced the implementation of the Federated Sidechains, which would increase the use cases of the XRP blockchain, including DApps and NFTs.
What is XRP (Ripple)?
Ripple is a blockchain-based digital payment network with its native cryptocurrency XRP, mainly focused on serving the needs of the financial services industry. Ripple was formed in 2012 under the corporation OpenCoin.
RippleNet, developed by Ripple, is used by institutional payment providers to transfer money globally faster and at a lesser cost. RippleNet is currently used by more than 200 banks and payment providers.
While most blockchains use POW (proof of work) , POS (proof of stake), and similar consensus protocols, Ripple’s protocol goes through a circle of bank-owned servers to confirm transactions. This allows very fast transactions – in just a couple of seconds with extremely low transaction fees. All XRPs have been “premined”.
XRP Blockchain Explorers
The most popular XRP blockchain explorers are XRPSCAN and Bithomp.
Keeping XRP on the exchanges?
While doing the research on Google for this article, I was amazed to see the “reputable sites” suggest you hold your XRP cryptocurrency on Binance, Kraken, Coinbase… or some software custodial wallets. The old saying since the creation of Bitcoin is “Not your keys, not your wallet”.
When you create a wallet, a pair of keys is generated, the private key and the public key. The recovery phrase you get is the form of the private key. It is your digital signature. It is used to sign the transactions and proves your ownership over the wallet – coins on the blockchain. It must be kept secret because if you lose it or it gets stolen you lose all your cryptocurrency. The public key generates your wallet’s XRP addresses.
In the case of the exchanges, they control both of your keys, and you are just using their services. They can shut down or suspend your account at any time.
XRP Hot Wallets vs XRP Hardware Wallets
XRP hot wallets are all free XRP software wallets – desktop and mobile. By definition, any wallet that is “connected to the internet”. You can install and create it for free, and you are provided with the recovery phrase you can use to recover your wallet. However, this information is provided to you through your internet service provider and shown on your device screen. From that same moment, it can easily be snatched by someone. You are also at the mercy of the software wallet developer’s skills, bugs, and issues these wallets often have.
XRP hardware wallets or “cold wallets” like the Ledger Nano X are physical devices specially developed to keep your cryptocurrency 100% safe. The recovery phrase is shown on your hardware wallet device – offline, you write it down on the recovery sheet/s you get in the package or buy some of the accessories from the same shop to keep it safe. Those are usually indestructible stainless, fire, and waterproof cases and capsules. Hardware wallet secures your private key inside the safe chip, and all transactions are signed internally – offline.
Hardware wallets can easily be connected to the blockchains software wallets to use their functions. These software wallets are only provided with your hardware wallet – XRP wallet public key. They never get in touch with the private key.
Best XRP Wallets
- Ledger Nano X – Best XRP Hardware Wallet
- Trezor Model T – Best for Security
- SafePal S1 – Best Air-Gapped Hardware Wallet
- Atomic – Best Free Desktop Wallet
- Exodus – Best Free Multicurrency Wallet
- Trust Wallet – Best Free Mobile Wallet
What is the best XRP wallet?
These are the 6 best XRP wallets, including both software and hardware wallets.
1. Ledger Nano X – Best XRP Hardware Wallet
Ledger Nano X is one of the best, most popular, and most secure hardware wallets on the market. It can be used on Windows, Linux, macOS but also on iOS and Android devices.
It works with the Ledger Live app, desktop, and mobile version, and you can sync them, of course.
You can use the encrypted USB cable or Bluetooth connection, which is more suitable for mobile users.
It supports over 5,500+ coins and tokens. While some of them need third-party wallets for its blockchains, the XRP doesn’t. You can create the XRP account in Ledger Live and safely send, receive, store XRP, and track your portfolio.
The Ledger Live also enables you to buy, sell, swap, lend, stake crypto assets, new features being implemented all the time by the great team of developers. You are also able to buy gift cards for the world’s best brands, all of this using the safe environment only the hardware wallet can provide.
Ledger Nano X price is 149,00€
2. Trezor Model T – Best for Security
Trezor Model T is a hardware wallet with an excellent reputation. It’s the second generation of the Trezor hardware wallets, the first being the Trezor One which was released in 2014.
Trezor Model T supports over 1,300+ coins and tokens.
It has a nice color touchscreen which enables you to easily read and sign the transactions.
Trezor Model T supports Windows, Linux, Mac, the Android but not iOS devices yet.
Trezor Model T works with the Trezor Suite app, and you can use the Desktop or web version, or both, of course.
You just add the XRP account, and you are ready to receive, send, and buy XRP directly from Trezor Suite using a safe environment.
You get the public XRP address to receive the XRP or use the QR code, which you can also confirm on your Trezor device each time (it’s all about security).
You are able to check your XRP account wallet balance anytime, along with the live price changes.
Trezor Model T doesn’t need any third-party wallets for the XRP transactions. But it is worth mentioning that just like the Ledger, it allows connection with the biggest number of popular blockchain software wallets.
The updates of the firmware are shown whenever they are available and easily executed. I’ve been using Trezor Model T but also Ledger for a long time and have never had any issues with any of them, nor have they ever had security breaches or anything similar. You always keep the recovery phrase that is shown on the hardware wallet device itself in a safe place.
Trezor Model T price is €219.00
3. SafePal S1 – Best Air-Gapped Hardware Wallet
SafePal S1 is a quite new hardware wallet gaining popularity very fast. It’s very easy to use paired with your mobile phone (iOS and Android devices). It has a 1.3-inch color screen providing a very good user experience.
It uses the 100% offline air-gapped signing mechanism (QR code transmission), which isolates the hardware wallet from all types of connections, such as WiFi, Bluetooth, USB, and NFC. Thus disabling any kind of network intrusions.
It also has a self-destruct mechanism if a forceful breach is detected that protects from offline attacks. It will delete all data, which you can, of course, always recover with the recovery seed. It also possesses a very high EAL 5+ security certification.
It supports over 20 blockchains and 10,000+ tokens.
In the XRP wallet, you are able to receive and send XRP cryptocurrency, buy XRP, and track the transactions also using the XRP blockchain explorer.
SafePal has an integrated swap (and exchange) you are able to swap XRP for other cryptocurrencies, but also, for example, Binance or Binance Smart Chain XRP pegged token (XRP BEP2 and XRP BEP20).
SafePal has DApps explorer, which allows you to access DApps like DeFi protocols and use them.
The demand for SafePal S1 (whose creation was also backed by Binance Labs) has been huge so far, also due to its very low price, set in order to get into the market between the 2 giants Ledger and Trezor.
SafePal S1 hardware wallet price is only: $49.99
4. Atomic – Best Free Desktop Wallet
Atomic is one of the oldest multicurrency wallets. It works on Windows, macOS, iOS, and Android, but also Ubuntu, Fedora, and Debian devices.
It supports more than 300 coins and tokens, including XRP Ripple.
You are able to buy XRP using a credit card; by doing so you will also get the AWC tokens as a reward.
AWC is the Atomic wallet’s cryptocurrency. You can also swap XRP with other cryptocurrencies.
5. Exodus – Best Free Multicurrency Wallet
Exodus is a multicurrency wallet that supports Windows , Linux, Mac but also iOS and Android devices. You are able to sync your Desktop with the mobile wallet.
You can have wallets for over 100+ cryptocurrencies, including XRP.
In the XRP wallet, you are able to send and receive it but also see the current price and XRP price history. You can also buy XRP and exchange it with other cryptocurrencies.
Exodus desktop version also connects with the Trezor hardware wallet through the Trezor bridge, which you can see how to do in these tutorials.
6. Trust Wallet – Best Free Mobile Wallet
Trust Wallet is a very popular crypto wallet among DeFi and Binance Smart Chain users. It is very well built with good reviews and lots of features, and you can use it to manage XRP.
You can also hold Binance or Ethereum pegged tokens XRP ERC20 or XRP BEP20. It has a very good integrated DApps explorer.
You are also able to buy XRP with a credit card.