Wallets are a crucial part of functioning in the cryptocurrency market. They are a must-need essential that every cryptocurrency user has and most of them have more than one. The most important features that people look for in cryptocurrency wallets are the safety features and the privacy features.
After they are satisfied with the safety features the first thing that people check out is whether the coins that they want to buy are supported by the wallet they want to use and then the decision is made as to which wallet they should use. Other features and factors that are taken into account are whether the wallet is a cold one, whether the wallet charges money for services, etc. While most exchanges and peer-to-peer platforms offer wallet services, not all of them are worth the risk and some of them are clear-cut no’s.
There are five questions you should ask yourself before deciding which wallet to go for and they are;
- Does it support all the coins that you want to buy, store and own?
- How safe is it? What is its safety history?
- Is there a subscription cost? If so, how much?
- Is it a hot or a cold wallet?
- Is it mobile? Does it have an application?
Keeping all of this in mind, let us discuss which wallet providers and wallets offer the best services for one particular cryptocurrency. The cryptocurrency is Ripple.
Here are the top 5 ripple wallets.
Ledger Nano S
The Ledger Nano S is a hardware wallet and is also one of the most secure wallets out there right now. The Ledger Nano S is a wallet that looks like a USB drive and has its own internal operating system that allows it to function regardless of the device it is plugged into and also safe guards itself from bugs and cookies.
The Ledger Nano S, being a hardware device, offers high levels of security, structural safety and also offers high scales of portability. The Legder Nano S supports most of the top coins in the market including Bitcoin, Ethereum, Bitcoin Cash, etc. And most importantly, also supports Ripple.
One of the biggest names in the cryptocurrency exchange spaces is Binance. Binance is the global number one exchange, it has the biggest trade volume in the industry and is very well known for its low transaction costs. Almost all coins in the cryptocurrency market are trading on this particular exchange.
The exchange also offers wallet services. It is one of the most subscribed to wallet services in the cryptocurrency market. The Binance wallet is a hot wallet and is most ideal for short time storage. It should be quite short so that your wallet albeit your assets are not tampered with and subjected to issues that the exchange may have.
Jaxx is a wallet that was developed by Anthony Di Iorio. The reason for the development of this wallet was started because the founder wanted to find a solution for storing the Ripple cryptocurrency. The multicurrency HD wallet supports multiple currencies and is also a part of a peer-to-peer platform.
The Jaxx Wallet is a cryptocurrency wallet that is a hot wallet. Regardless, the Jaxx wallet is very safe and secure. It is also used very extensively by the Ripple user base in the cryptocurrency market.
CoinPayment is a physical bank. It allows the average cryptocurrency user to exchange, buy and sell services and things on the platform. The CoinPayment interface is not only an online, desktop-bound service, it is also a mobile application. CoinPayment supports over 900 coins in the cryptocurrency market.
The CoinPayment application levies a 0.5% transaction fees from users when they are buying and selling. However, withdrawal and deposit for every user have no transaction fees that the user has to pay and is totally free of cost. This is also a wallet that is used very heavily to store and spend Ripple.
Toast is an open-source cryptocurrency wallet that is accessible to everyone and very easy to use. It is a wallet that is advocated for new users to get their hands dirty. The open source wallet has a mobile application. The mobile application also has desktop downloadable forms.
The desktop application is compatible with most operating systems. And is very user-friendly. The cryptocurrency wallet also helps users understand the market and how to handle their trades. The cryptocurrency wallet is also completely free, both deposits and withdrawal are also free of transaction cost.
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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