Bankless Times

Best Ripple Wallets in 2023

Dominikas Pupkevicius
Dominikas Pupkevicius
August 3rd, 2023
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Ripple (XRP) is becoming a blue-chip coin in the cryptocurrency market and a popular investment asset. According to a Bankless Times study, XRP accounts for 15% of the crypto owned in the US. Ripple wallets are necessary to protect your funds as they safeguard your investments far better than any exchange or broker. Also, each crypto wallet comes with a range of features like staking opportunities and tools that make investing easier.

This guide covers everything you need to know about the best Ripple (XRP) wallets in 2024. We’ll show you the best software and cold wallets you can use right now to store XRP and other crypto assets, as well as how to keep your crypto secure.

Additionally, if you would like to learn more, we created some other Ripple guides such as how to trade XRP, how to invest in Ripple (XRP), or how to buy XRP with PayPal.

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eToro8.7Visitetoro.com

Don’t invest unless you’re prepared to lose all the money you invest.

Ledger8.0Visit
Atomic0.0Visit
Trust Wallet6.5Visittrustwallet.com/

Best Ripple Wallets Compared

When investing in Ripple, you’ll want to use a top-tier wallet to properly protect your Ripple coins. We’ve tested the top available options to save you time and placed them in the table below.

Our top pick is regarded as one of the best wallets due to its multi-coin support and innovative features such as copy trading. Trust Wallet is a beginner-friendly option with a Web 3.0 browser with dApp connectivity. However, if you want your coins to get the best protection, then a hardware XRP wallet like the Ledger Nano X is the best overall option.

Wallet nameWallet TypePriceBeginner Friendly?Best Feature
eToroExchange walletFreeYesAdvanced trading and CopyTrader
Ledger Nano XHardware wallet$149NoSafely stores private keys offline
Atomic WalletSoftware walletFreeSomewhatUser-friendly interfaces
Trust WalletSoftware walletFreeSomewhatEase of use
ExodusSoftware walletFreeSomewhatBuilt-in exchange

1. eToro - Best Ripple Wallet Overall

Many exchanges have delisted XRP, but you can still buy, trade, and store it at eToro. As a reputable brokerage and trading platform, eToro is trusted and more accessible to newbies than most crypto wallets. You'll be able to trade XRP using advanced features, keep up with the latest news and sentiment thanks to the social trading features, and even copy the trades of more experienced users with the unique CopyTrader feature.

  • Advanced trading tools
  • Accessible to new crypto investors
  • Social and copy trading features

2. Ledger Nano X - Most Secure Ripple Wallet

If security is your priority, then you need a hardware wallet. Ledger stores your private keys offline on a physical device where they can't be hacked. While some hardware wallets, such as Trezor, don't support XRP, with Ledger you store XRP and over 5,500 other cryptocurrencies, as well as NFTs.

The Ledger Nano S is a slick-looking device with Bluetooth functionality. The device's screen is easy to navigate, while its integration with the Ledger Live app means you can manage your crypto on the go and access services such as trading, staking, and exploring decentralized applications (dApps).

  • Most secure option
  • Accessible on the go through the Ledger Live app
  • Support for thousands of cryptocurrencies and NFTs

3. Atomic Wallet - Most User-Friendly Interface

This is an all-in-one application that allows buying/selling, staking, and transferring. The user interface is elegant and provides all essential information from the dashboard. Also, the crypto wallet comes with a smartphone app, allowing you to control your money from anywhere.

  • User-friendly interfaces
  • Built-in exchange
  • Desktop and mobile apps
  • Supports multiple cryptocurrencies

4. Trust Wallet - Best Ripple Wallet for dApps

Trust Wallet is an established software wallet that can store multiple crypto assets, including Ripple. The exchange section completes trades instantly at affordable fees. Furthermore, Trust Wallet has a Web 3.0 browser with dApp integrations. Also, the open-source app is available on iOS and Android devices.

  • Credit/debit card integrations
  • Multi-coin support
  • Does not acquire data
  • Comes with a Web 3.0 browser
  • Instant trades with exchange

If you’re interested in more XRP wallets, then take a look at the section below that covers the top options in different categories.

What Types Of Ripple Wallets Are There?

An XRP wallet is a physical device or software that stores public and private keys. These keys are used to validate that the cryptocurrency within the wallet is in fact yours. All types of XRP wallets have a unique address that is used for sending and receiving Ripple coins. More sophisticated wallets have extra features like bank card integrations and staking. The two main types of XRP wallets are hot and cold.

Hot Wallets

Hot wallets are always connected to the cryptocurrency network and the internet. This makes them convenient and easily accessible but also less secure as they could be vulnerable to hacking. Web3-enabled hot wallets also allow users to connect to dApps. They take the form of software that may be accessed via the internet or downloaded onto a device.

Best software Ripple wallets

Software wallets are excellent for quickly making XRP transactions, connecting to exchanges, or paying for services. We’ve listed the top options that offer unique features like built-in exchanges and fiat currency payment methods.

Wallet nameBest FeatureGet Started
Trust WalletEase of UseVisit Trust Wallet
ExodusBuilt-in exchangeVisit Exodus
Atomic WalletLow feesVisit Atomic
Crypto.comStaking optionsVisit Crypto.com
Edge WalletPayment methods supportedVisit Edge

Desktop & Laptop

Desktop wallets are applications that you install onto your computer. At the start, desktop wallets will provide you with the seed phrase to write down and guide you through their start-up process. Also, desktop and laptop wallets may have built-in exchanges for convenience.

Web

Browser wallets are extensions or websites that you can use online. They are the least secure type of wallet as their connection to the internet can leave them vulnerable to hacking. However, their accessibility makes them convenient.

Mobile Apps

Mobile wallets are great for managing your funds while on the go. Most desktop, web, and exchange wallets will have a mobile app developed that comes with the same features as the base version. Also, some apps let you pay for products and services with your cryptocurrency for a small fee.

Best mobile application Ripple wallets

The mobile XRP wallets below let you conveniently manage your investments while on the go. They may also provide other features such as trading, exploring Web3, and staking.

Wallet nameBest FeatureGet Started
Trust WalletEasy to useVisit Trust Wallet
Atomic WalletBuilt-in exchangeVisit Atomic
ExodusCompatible with multiple blockchainsVisit Exodus
Edge WalletConviennent transactionsVisit Edge

Apps

Downloadable apps like Exodus work from the desktop and require no browser extension. They provide the essential features needed for an XRP wallet: built-in exchange, user-friendly interfaces, and staking options.

Exchange Wallet

All cryptocurrency exchanges will provide you with an in-app wallet that holds your Ripple coins. They are great for holding short-term or when staking because of the advanced trading interface and investment opportunities provided. However, exchanges are big targets so withdrawing your investments to another wallet is safer.

A custodial wallet means you are not in charge of your private keys and rely on another entity or service to protect them. However, with a non-custodial wallet, you control the seed phrase and are responsible for protecting it. In addition, if the exchange with the custodial wallet goes bankrupt or gets hacked you may lose your investment and nobody will be around to reimburse your losses. Therefore, it's highly recommended to withdraw to a non-custodial wallet for protection against hacks.

If you send a Ripple coin using the wrong wallet address, those funds will be lost forever. Every transfer you make must be double-checked to ensure it’s being sent to the correct address. This technical side of crypto can be challenging for beginners to understand, which is why using an exchange wallet may be easier for those starting out.

Cold Wallets

Cold wallets are physical, unlike software wallets. As they store private keys offline, they aren't vulnerable to being hacked, but this lack of internet connection also tends to make them less convenient.

Hardware Wallets

Hardware wallets are physical devices that store XRP and all your coins and private keys offline, making them impossible to hack. Typically, these crypto wallets are ideal for larger amounts of money and those looking to hold long-term due to their security. However, you must keep your seed phrase stored in a safe location because this is the only way to access the tokens.

Best hardware Ripple wallets

Hardware wallets are perfect for those who want to be safer since they offer the best security. The options below were handpicked to be the most affordable and easiest to use.

Wallet namePriceBest FeatureGet Started
Ledger Nano X$149Ease of useVisit Ledger
Ledger Nano S Plus$79Fast start-up processVisit Ledger
CoolWallet Pro$149Convenient to useVisit CoolWallet

Paper Wallets

Paper wallets are pieces of paper with your private keys written down or printed. By not having your digital keys stored online, you are better protecting yourself as paper wallets cannot be cyber-attacked. However, paper wallets have fallen out of use since the rise of hardware wallets. Paper wallets aren't popular due to their fragility. What's more, you need to be careful how you generate your paper wallet's private keys, as some online key generators may be unsafe.

Top Free Ripple Wallets

No wallet is truly free as they apply a small transaction fee when using the platform to trade or transfer coins. Nevertheless, the options below are free to install and offer the most features compared to other free XRP wallets.

Wallet nameWallet TypeBest FeatureGet Started
eToroExchange walletSocial and copy tradingVisit eToro
Trust WalletHot walletHigh levels of securityVisit Trust Wallet
Atomic WalletHot walletMultiple cryptocurrencies supportedVisit Atomic
ExodusHot walletComes with a built-in exchangeVisit Exodus

What To Consider When Choosing A Wallet?

Do Ripple Wallets Support NFTs?

NFTs (Non-Fungible Tokens) are data stored on the blockchain that is unique and can be traced to the hosted wallet. Most wallets, like Ledger and Trust Wallet, have NFT integrations that let you store your NFTs such as digital art. Also, they allow you to transfer and trade NFTs by connecting to marketplaces such as OpenSea.

Is Staking Possible With A Ripple Wallet?

Staking is a process that requires you to commit your cryptocurrency to support the network. It’s a great way to earn passive income if you decide to hold your coins long-term. Unfortunately, Ripple does not function on a proof of stake blockchain, so you cannot stake the coins. However, wallets like Ledger and Atomic support the staking of other coins.

Can I Use The Same Wallet For Multiple Exchanges?

Yes, you can use the same crypto wallet to transfer coins to multiple exchanges, but only if the cryptocurrency is supported. The exchange must have a receiving XRP wallet address for you to deposit Ripple.

Can I Trade On Decentralized Exchanges Using A Ripple Wallet?

Decentralized exchanges are built on the blockchain and require connecting a wallet to the platform. Therefore, you’ll most likely need a browser wallet since they offer swift connectivity to the DEX.

Can I Buy Ripple Using A Wallet?

Some crypto wallets provide fiat currency payment methods like bank transfers and debit/credit cards for buying Ripple. Unfortunately, instantly buying via the app results in higher fees compared to using a cryptocurrency broker. In most cases, you can use the built-in wallet exchange to trade Ripple at competitive rates. If you opt for an exchange wallet like eToro, you'll have all the buying and trading tools you need on the same platform.

Here’s a step-by-step guide for buying Ripple with Trust Wallet:

Step 1: Create an Account
Step 2: Write Down Your Seed Phrase
Step 3: Select the Amount
Step 4: Input Your Card Details
Step 5: Ripple Will Show Up in Your Wallet

How Do You Cash Out And Spend Ripple From A Wallet?

Cashing out your investment can seem challenging at first, but the process becomes a lot easier with the right information. Here’s a detailed guide for converting your cryptocurrency to fiat currency through an XRP wallet.

Step 1: Open your crypto wallet
Step 2: Transfer the Coins to an Exchange
Step 3: Sell the Coins
Step 4: Provide Your Banking Details and Withdraw

Top Tips For Ripple Wallet Users

  • Double-check cryptocurrency addresses before transferring coins. Incorrect ones will result in funds getting lost forever.

  • Never write your seed phrase on websites or unauthorized smartphone apps because it’s most likely a scam or phishing site.

  • Create multiple copies of your seed phrase and place them in secure locations. They are the only way to recover cryptocurrency wallets if you’ve lost the login password.

  • A wallet’s or exchange’s customer support will never ask for your seed phrase. If they ask, it’s a scam, and you should immediately close the chatbox.

  • Be cautious if you use a mobile wallet. This is because it's become increasingly popular for thieves to target people with smartphones and instruct them to transfer coins to their private wallets.

FAQs

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Contributors

Dominikas Pupkevicius
Writer
Dominikas is a content and research writer with over 6 years of experience. He is passionate about blockchain technology and believes cryptocurrency is the future of humanity. Dominikas lives in the countryside with his 3 dogs and enjoys long walks.