The digital currencies are getting popularity day by day, and the reason behind their popularity is the increase in the price.
Ripple (XRP) (https://ripple.com/) is currently the third highest cryptocurrency in the market by market cap, and the price has gone up by +977% few months ago. People who have invested in XRP are making a great profit.
The Ripple coin was the first digital currency that was invented in 2004, and is known as the reasons behind all the other digital currencies. However, it went public late in 2012.
Today, Ripple is one of the best cryptocurrencies to invest in. There are many reasons behind the popularity of Ripple coin. One of them is its investors which includes Google and many other popular names. These popular names bring the trust factor in the eyes of investors for Ripple XRP, and that’s the reason why the investors who cannot afford BTC prefer to buy XRP and invest their money in this currency.
You may have a couple questions if you are planning to purchase Ripple (XRP):
- How to purchase Ripple (XRP)?
- Where to store your XRP?
- What wallets support Ripple?
This guide will help you understand everything you need to start holding Ripple.
I have also shared some of the best Ripple (XRP) wallets currently available in the market. These wallets are secure, safe, and trusted by other cryptocurrency enthusiasts like you.
Let’s begin with how you can buy XRP.
How to Purchase XRP?
There are many places from where you can get XRP, but the best way is to purchase Bitcoin and exchange them for Ripple.
- The two popular websites to exchange BTC (or other cryptocurrencies) for XRP are Changelly and ShapeShift.
- Another method is to purchase XRP from Bitstamp.
- You can also use an exchange like Poloneix and purchase XRP using USD or Bitcoin.
- Other exchanges that support purchasing XRP are Coincheck, Bitso, Coinone (Korean), and Kraken.
XRP Wallets: The Best Wallet for Ripple
Note: You have to be very careful when choosing a coin wallet for your digital currencies because they are not registered under the law of any country. You may lose all of your money in no time if you choose a wrong Ripple coin wallet. That’s why it’s very important to spend time to get an understanding of different Ripple coin wallet to protect yourself from the fraud and scam.
You need to know one important thing before I share about top wallets for XRP.
Ripple wallets require you to have 20XRP to book your wallet address.
This means that if you add 1000 XRP to your Ripple wallet, 20XRP will be used to book the wallet address, which is one reason you don’t want to use multiple wallets for XRP (unless required).
So if you don’t want to end up losing 20XRP on various wallet addresses, you should choose the right wallet from day one.
The Ledger Nano S is a hardware wallet that has been designed for the digital currency, and has recently added support for XRP.
Unlike other wallets that have been developed for digital cash, this wallet actually has a physical appearance. The wallet can be touched and carried in the pocket, which means that you can have Ripple XRP coin in your pocket.
Being a hardware wallet, the Ledger Nano S is one of the best ways to store your cryptocurrency. It offers ease of use, great security, and you can carry it with you anywhere.
By look, this wallet looks like a USB device. However, it can store unlimited Ripple XRP in it with no limit. Simply attach it to your laptop, computer or even mobile and use your Ripple coin as you wish.
I strongly recommend Ledger Nano S because it supports many popular cryptocurrencies including: XRP, Zcash, Stratis, ETH/ETC, BTC, Dash, etc.
In the box, you will receive the wallet The Ledger Nano S, a USB cable, recovery sheet, and introduction. There are also some other accessories to make it easy for you to use the wallet.
The developers have added extra security features to the wallet to make it more secure and safe for the users. In case someone steals your wallet or you lose it, then the person can’t get access to your Ripple coin without your permission. The manufacturer has added the option to make the wallet more secure, simply by allowing you to set a password.
The Ledger Nano S has the ability to automatically make the backup of your account to keep it safe for you. This means that you can easily get the access to your account if you lose your wallet or someone steals it from you.
The wallet features small built in display that will allow you to see your transaction in real time, and by this, you can confirm that the transaction really took place. The company has also added the physical button to make it feel safer for the users. Through this button you can confirm the transaction.
You can order your Ledger Nano S from the official site here. It will take 4-7 days to have it delivered to your doorstep.
CoinPayments is a cryptocurrency payment website that allows you to store your digital currency online in their wallet, and it works in same way as your physical bank works. The company is registered and based in Canada. It is known as one of the most authentic and legit cryptocurrency payment platforms. CointPayments is one of the fastest and largest payment networks, and today there are more than 296,000 vendors in 182 countries, who are now accepting CoinPayments as a method to accept of payment from their customers. With the help of CoinPayments, you can buy anything from anywhere or even withdraw your Ripple XRP coins in your bank.
You will be able to store XRP along with many popular cryptocurrincies and upcoming altcoins (they accept more than 75 different types of altcoins) with one account. Their transaction fee is only 0.5%, and this fee is same for all types of investors. The CoinPayments does not limit you to only exchange and invest your altcoin through their network, but they also allow you to use your money for online shopping purpose too.
The wallet service has some fee. However, there is no fee on the personal deposits on the wallet. It is 100% free. The wallet withdrawals are also 100% free until you are not using it as a method of payment while shopping online or using it for the commercial items.
Unlike other XRP wallet mentioned in this resource, you need to add the destination tag to receive XRP on coinpayments wallet.
It is important to note that CoinPayments is supported by the popular altcoin security website called BitGo (https://www.bitgo.com/). BitGo is usually known for the BTC payments only. However, on CoinPayments, you can use this service for any type of digital currency including Ripple Coin. This makes the process of transaction and payment very fast, and when it’s fast, it means that you can invest your money instantly. Also, if you see the increase in the price, you can sell your coin.
Also, this multi sig technology provides complete protection of your funds, which means that no transaction can be made without the approval of the account owner.
For short term parking, CoinPayments is a solid solution for storing your XRP coins.
Gatehub is a popular website that deals with several popular digital currencies including XRP and BTC. Investors trust on Gatehub most because Ripple coin has mentioned it in the list of their wallet.
Gatehub allows you to store XRP and as well as purchasing them using USD or Euro, and the process of depositing money and purchasing Ripple XRP coins on Gatehub is very easy and fast. They allow their users to buy Ripple coin by paying money directly through a bank. However, unfortunately, you need to buy BTC first and then convert it into other digital currencies.
You can start by creating an account on Gatehub. The next step is to do the KYC and activate your account.
NOTE: It’s very important to write down the recovery key on a piece of paper and save it in a safe place. This is the only way to recover your XRP wallet in case you ever forget your Gatehub password.
Once you have activated your account, you can deposit your funds (in Euro or USD) and buy XRP directly from Gatehub.
The interface is pretty neat and easy to use. You won’t have any problems understanding how to use the Gatehub website. The wallet shows a complete history of the payments. It also shows the exact amount which you have used to buy Ripple XRP coins.
The Gatehub’s analytics stats show stats by graphics, which makes it easy for the users to understand and operate their wallet account. The analytics section also shows the real-time rate of XRP, USD, and other currencies, which makes it very easy for the users to invest their money on right time.
If you want to get XRP right now, you can get an XRP wallet using Poloniex.
However, you should not store your XRP for more than 1-2 days on an exchange (any exchange). The reason for that is that exchanges can shut down or go into problems at any time and put you at risk of losing your stored coins.
When I needed to get ahold of XRP urgently, I used Changelly to convert my bitcoins into XRP. I store my XRP on my Poloniex wallet.
These XRP can be transferred to the Ledger Nano S (or any other hardware wallet that supports XRP).
Check out Poloniex
With time, I expect more popular wallets to integrate XRP. This will make it easier for us to store Ripple.
However, for now, these are the top Ripple wallets available in the market.
I would recommend you to just order Ledger Nano S hardware wallet if you are someone who is investing in cryptocurrencies. This wallet ensures that you remain in total control of all of your coins.