Ripple XRP along with ripple wallet is one of the few cryptocurrencies that has managed to hold its own weight against other cryptocurrencies such as Ethereum and Bitcoin. Ripple is a decentralized and highly scalable cryptocurrency tailored towards offering payment solutions. Its high operability buoyed by seamless integration with financial service provider makes it a currency worth holding.
Why should you purchase Ripple?
In brief Ripple has the offers the following positive features;
• Interoperability: Ripple can be used to purchase other cryptocurrenies, fiats and precious metals.
• Speed of transactions: If you have ever used Bitcoins you might be aware of its slow confirmation rates. Ripple is the exact
opposite. It is first with no downtime.
• Decentralization: With a decentralized protocol, XRP is not controlled by any particular entity and its price is reliant on supply and demand.
• Price: Of all top 5 cryptocurrencies, Ripple is one of the cheapest. It is also one of the most stable cryptocurrencies and its price has steadily shored up within the last few years.
• Security: Ripple is by far the most secure of all the major cryptocurrency options in the market. Transactions on its ledger are highly secured against clash and crash.
• Confidence: Ripple has managed to pull up the confidence of hundreds of banks across the world. This is in addition to other reputable institutions such as Microsoft and MIT.
- See – Buy Ripple directly
Points worth noting before purchasing ripple wallet
• Just like other cryptocurrencies holding ripple coins requires one to have a wallet.
• For security purposes, one is required to hold a base amount of 20 XRP in their ripple wallet
Getting your ripple wallet
Due to the fact that each ripple wallet requires holding a minimum of 20 XRP it is important to have as few wallets as possible. This means looking for the best wallets one can find in the market. There are many software ripple wallets. This article will touch on a few noteworthy ones. Unfortunately, there is only one hardware wallet for Ripple. It will also be featured below.
Ledger Nano S simply referred to as ledger wallet, is the only hardware ripple wallet. The ledger hardware is a USB storage device resembling a USB token device that is primarily used to store your private keys. It has a display that is used to confirm transactions on the device. Its current price is around $80 .Despite its price, it is the most reliable and best wallet to have as for the following reasons;
Portable: Since it is small device, one can carry it anywhere they go.
Security: Confirmation of transactions is done on using a key and the embedded screen. Use of the FIDO universal 2F system makes it more secure but also less stressful.
Transaction Confirmation: Its OLED Display is very crucial in the confirmation of transactions even with main computer lags as sometimes occurs.
Multicurrency support: Apart from holding Ripple you can also use it to hold other cryptocurrencies such as Litecoin, Bitcoin and other coins.
Backups: What happens when you lose your private keys? You lose all your coins. That has always been the case with wallets. Ledger Wallet offers you the chance to backup your private keys and restore them should you lose your wallet.
Gatehub was one of the early adopters of Ripple. Ripple Labs the company behind Ripple coins has recognized the role of Gatehub in its growth, hence making it the ‘official’ ripple wallet. Gatehub comes with the requirement to verify a new account by submitting your ID documents. It is criticized for being less secure in its native form. That said it also has its advantages including;
• Easy to use interface: Gatehub’s interface is one of the most interactive interfaces. Any newbie with some background in cryptocurrency can start using it without needing a guide
• Crypto analytics: Gatehub offers an intuitive analytics platform for diehard crptocurrency fanatics.
• Payment module: Gatehub has formulated a payment module which is accepted by various online merchants across the world.
Rippex is an ingenious ripple wallet that is available as a mobile, desktop or web app. It is also one of the least stringent ways to hold ripple coins. Using Rippex you can carry out withdrawals, deposits and bank transfer through all the apps. It has the following features to boast of;
Multiple Currencies: Rippex not only holds crytocurrrencies but also supports fiat exchanges.
Transaction on the go: Due to its mobile app it is possible to transact using Rippex while on the move.
Fast transaction rates: It offers one of the fastest transaction rates of all the wallets that support Ripple.
Security: it applies various verification processes to secure you transactions and coin holdings.
This list of wallets would not be complete without mentioning CoinPayments. CoinPayments is an online payments platform with ripple wallet capabilities. It is one of the largest global cryptocurrency payment platforms. Apart from holding your coins on this channel you can also use your coins to transact using the platform.
Multicurrency: Like all the other mentioned wallets, CoinPayments wallet holds various coins. The difference is that it is able to hold a larger cache of altcoins.
Security: It is one of the most secure software wallets. It relies on multi signature technology to secure the wallet and transactions.
Merchant usage: It boasts of one of the largest merchant acceptability rates. Holding an account on CoinPayments allows you transact in up to 300,000 online stores
Banking integration: It is also being integrated into banking platforms across the world. This allows its users to convert their holdings into fiats and withdraw the fiats from banks quite easily.
In a nutshell holding Ripple is easy as ABC. All it takes is having the right information, finding the moist secure wallet with the best prices. After that open an account and you can zoom your way into the beauty of Ripple.