As the the 4th ranked crypto, according to its Coin Market Cap value, Ripple is a currency that is here to stay.
If you are looking for an investment in cryptocurrency then Ripple might be one not to miss out on. It has the potential to be a mainstream digital currency as it uses low fees and one of the quickest transaction times. This is due to its highly attuned gateway system on the blockchain that settles payments and exchanges with a decentralized ledger.
Ripple also is back by several big companies like American Express, Western Union, and PNC, implementing its technology into they financial systems.
Finally, the good news fo you is that Ripple releases 1 billion XRP into the market each month for future investments and company expenses. This keeps the price low and the liquidity high, making it simple for you to jump on the Ripple bandwagon before its too late.
After you get some Ripple, you want to keep it safe while still being able to use it for exchanges and transactions. To do so, you will need to know How to Create a Ripple Wallet. Read on to find out more.
Table of Contents
Trust wallet is a mobile-based wallet for Ripple for IOS and Android smartphones. You can either create a multi-coin wallet or just Ripple only.
We will learn how to setup the wallet on an Android device since the process is almost the same on an IOS-based device.The only difference is that you won’t have a dApp mobile browser like the Android version.
Downloading Trust Wallet
In just a few steps you will be able to transfer Ripple to your new Trust Wallet.
- Go to the Trust Wallet website and choose your desired operating system.
If you chose Android then you will be redirected to the Google Play Store to download the wallet app.
3. Once the app is installed, open the app and click on “create a new wallet.”
4. You will be asked to accept terms and conditions before a mnemonic phrase is revealed. Back up your mnemonic phrase on piece of paper as you will be asked to verify it before creating a wallet. Once you verify your mnemonic phrase, a popup will appear to confirm that your wallet is ready.
5. Next you will setup your Ripple wallet by clicking on the slider icon located at the top right of your screen. This allows you to enable the Ripple-only wallet option. See the screenshot below.
6. Hurray! You have setup your Ripple mobile wallet. Note that there is a 20 XRP activation charge every time you create a new XRP wallet, which you won’t be able to withdraw.
7. Click on “receive” to get your deposit address and transfer your Ripple from a crypto exchange to store your new coins.
It’s that simple to set up your Trust Wallet for Ripple. You can now have your Ripple with you on the go while ensuring that it is kept off an exchange. This means you own the private key and are in control of your coins.
Other Best Ripple Wallets
If you want to try a few other cryptocurrency wallets then see our extended list below.
Exodus was founded in 2015, and offers several wallet options. Use your desktop or mobile as well as a hardware device for the same wallet account.
Another unique feature is that they updated their wallet software every 2 weeks since 2015 without any breaks. So, you know that it is going to run smoothly. Because of its upgrades, this wallet has one of the best design interfaces and user experiences.
Aside from storing Ripple, you can even hold over 100 other cryptocurrencies with this wallet. You won’t have to manage several wallets for various coins.
Plus, if you are worried about securing your coins on an online wallet then you can connect Trezor with Exodus and enjoy the safety of a hardware wallet without comprising on user experience.
Ledger Nano S
Ledger Nano S is a hardware wallet and one of most secure options available to hold your Ripple coins. Setting up a Ripple wallet in Ledger is very easy and quick.
Install the Ripple app and setup your new account then connect it to your Ledger address to view balances on your phone or computer. Plus, You can get a Ledger Nano S for just $49 plus shipping.
Securing Your Ripple Wallet
Now that you know how to Create a Ripple wallet, keeping it safe is essential. Whichever XRP wallet you choose, be careful to backup your mnemonic phrase and private keys to keep your wallet access away from hackers and thieves. Never share your wallet secret words with anyone. If you can afford a hardware wallet, its best use a Ledger Nano S to store your Ripple coins for longterm.
Let us know in the comments, which wallet you’ve found useful and trustworthy.