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Ledger Wallet Ripple: How To Store Ripple (XRP) On The Ledger Nano S (2020)
In this article, I am going to explain how to store Ripple (XRP) on the Ledger Nano S in the Ledger Wallet Ripple. Most people I speak with talk about whether or not XRP is safe to leave on exchanges for storage. The simple answer is no. Under no circumstances is it safe or even a slightly good idea to leave ANY coins your have on an exchange. “Not your keys, not your crypto” is a statement you’ll hear repeated throughout the crypto ecosystem. If you are unsure about the safest ways to store and secure your cryptocurrency private keys, then grab my free e-book that gives you some in depth resources on how to manage your crypto safely. I also wrote a comparison review of the major differences of hot vs cold wallets, in case you are unsure.
Now, as Ripple is a top 3 market cap coin, it is imperative to know how to properly store it on a hardware wallet, and the one wallet that can easily store this right now is the Ledger Nano S. You can also store it on the newly released successor to this wallet known as the Ledger Nano X, if you want a larger storage capacity and a wallet that is wirelessly capable. Let’s get to it below!
WHAT IS RIPPLE (XRP)?
Ripple is both a platform and a currency. Let me explain. Ripple itself is platform and open source protocol which is designed for quick and cheap transactions. This was “invested” as a resource for efficient, cross-border payments that is intended to be used by big banks. The Ripple platform is very very cheap and efficient and unlike bitcoin, it is designed as a payment machine and nothing more.
XRP (the token that is represented on the ripple platform) is designed to transfer value across the Ripple platform. The intention behind this is to be able to transfer value from either cryptocurrency or fiat from peer to peer in the fastest way possible. That is it’s only function.
The other noteworthy aspect of this is, there is a predetermined amount and it is not mined or staked, like it is on POW and POS networks. In fact, there is no blockchain for this token at all. This has been the source of a lot of criticism in the ecosystem that this is not really a “crypto” currency, but rather, just a digital version of fiat.
HOW DO I BUY RIPPLE (XRP)?
You can buy ripple directly at many OTC exchanges, or other trading exchanges like Coinbase or Binance. When using Coinbase, you can link up your bank account and/or major debit card to process the transaction and if you’re not verified, it can take up to 7-10 business days to process.
If you plan on buying XRP with a credit card directly, you can use either Paxful or Changelly and use this as an OTC exchange to buy it directly (although paying with credit card will incur some extra fees). You can also go through a 2-step process and buy bitcoin with a credit card on Coinmama, and then use one of the above exchanges to swap it.
LEDGER WALLET RIPPLE: HOW DO I MOVE RIPPLE TO THE LEDGER NANO S?
- Open up Ledger Live, and make sure it’s software version is up to date.
- Head over to the Manager section on the left side bar, and search on “XRP”, then click on Install.To create an XRP wallet on your Ledger device, we first need to create an “account” for you to be able to have access to your wallet’s XRP address.
- Click on the rounded + symbol on the left portion of the Ledger Live app to add an account.
- Type in “xrp” on the search bar to easily find XRP on the list, then click on “Continue“.
- Open the XRP app on your Ledger device, then click on “Continue“.
- Wait for Ledger Live to synchronize.
- Choose a name for your wallet. For this example, we’re just going to name our wallet “My XRP Wallet“.
- Tick the blue checkbox , then click on “Add account“.
- Account successfully added!Click on “Add more” if you want to create more XRP wallets, or if you want to head over to moving your funds to your XRP wallet, just click on the small x on the top right corner of this popup.
- Your XRP wallet is now ready. Simply click on the XRP wallet you made on the “Accounts” section on the left, then click on the blue “Receive” button.
- Click on “Continue“.
- Click on “Verify“.
- For security purposes, check if the same wallet address is being shown on the Ledger Live app, and the address shown on your physical Ledger device.If everything’s fine, you can now copy the wallet address shown on Ledger Live, and you can now use that address to move your funds from other XRP wallets, or from the exchange you’re using.
- Click on the rounded + symbol on the left portion of the Ledger Live app to add an account.
WHAT ABOUT THE NEW LEDGER NANO X?
The Ledger Nano X has the same process as above for adding it to your hardware wallet using Ledger Live, the only difference is it is primarily done via the mobile app. You can still plug this device in and manage this the same way as the Ledger Nano S, however, it is able to connect to the app and manage this wirelessly, which is the major advantage.
CONCLUSION
Bottom line, if you’re in the market to acquire this coin, you will absolutely need to store it on a Ledger device. Keeping all your private keys (of any coin) on a trusted hardware wallet is imperative. Period. I will say that with the Ledger Nano S specifically, is the cheapest and is the best entry level hardware wallet if you want to store ripple at only $59. The one caveat is that you can only store 3 or 4 different coins on the app at once, that’s it. If you plan to grow your portfolio, you may want to spring for the extra money and go for the Ledger Nano X, which can hold up to 100 coins or “apps” at once. I will leave the full review of the Ledger Nano S here.
What do you think? Is there a better offline wallet to store your XRP? Let me know in the comments below!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
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Ellipal TITAN Review (2020) | Best Air-Gapped Crypto Hardware Wallet?
Is the new Ellipal Titan crypto hardware wallet all hype? Or is it the real deal? How secure is it? Why is it different than the Ledger Nano X or the Trezor Model T? Well, buckle up, because this wallet is far different than anyone I’ve used in a while and in a very good way. In fact, I would go as far as to say that this is probably my favorite hardware wallet of 2019. But why? What makes is so special? I am going to dive into that below in detail and what makes it so securely different than the original and most popular wallets out there today.
Before I jump into the nitty-gritty details of this wallet, I want to point out that in the week or so that I’ve used this wallet, I have actively moved over a handful of my larger holdings from other hardware wallets over to this one. This is for the obvious security advantages and wireless method in which you manage it, which I will explain below. With this cold wallet, you no longer need a computer to manage your offline holdings, and in a predominantly wireless world, this is becoming more and more important. Details will follow below, you will NOT be disappointed.
Let’s get right into the Ellipal Titan Review!
ELLIPAL TITAN: WHATS IN THE BOX?
The Ellipal Titan device comes with the same items in the box as the Ellipal 2.0, with the only difference being that there is a magnetic adapter that connects to the bottom of the device. This adapter includes the charging port and SD card slot port for updating firmware and signing offline transactions. The Ellipal 2.0 device has these on the device itself, whereas the Titan has no ports or openings on it whatsoever, making it stronger and more secure.
Box includes:
- ELLIPAL Titan Cold Wallet
- Rechargeable battery
- Charging cable
- Mnemonics card
- Warranty card
- User manual
HOW DO YOU SET UP THIS AIR-GAPPED DEVICE?
This is very simple. It pairs with a mobile app that is available for iOS and Android. This helps you initialize and setup the device and generate all QR codes needed to transfer your funds from the hot wallet app, onto the cold storage device. This process is identical to the Ellipal 2.0 process, however, you now have access to longer PIN’s and extra security features. Additionally, since the device has a camera, transferring funds off of the device and back onto a mobile wallet is very secure and convenient as well.
The entire process only took me about 7-10 minutes from start to finish, including writing down your mnemonic phrase.
There is a full step-by-step setup guide for both Ellipal devices HERE.
WHAT COINS ARE SUPPORTED?
This is always the section I check the most when reviewing hardware wallets, because although functionality and security are important, none of that matters unless it supports the coins you want to store offline. So here is the current list of supported coins and the one that are currently in development listed in the below picture.
This is the only wallet that supports over 26 different blockchains. With multiple tokens on the EOS, TRX, BNB, and of course ETH blockchain, there is plenty of room for expansion. Some of the unique coins that are supported on this hardware wallet NATIVELY that you won’t find on any other hardware wallet out there include: Cardano (ADA), Decred (DCR), Cyber Miles (CMT), and Smart Cash (SMART).
There are some oldies, but goodies (coins) that are currently in development that technically will work with 3rd party integration with wallets like Ledger and Trezor. I can’t express enough how important (and convenient) having native coin support on a hardware wallet is, especially a wallet as secure as this one. Some of my favorite coins that are coming soon are: Monero (XMR), Tezos (XTZ), SiaCoin (SC), and Nano (NANO). As I mentioned, some of these have 3rd party wallet integration currently elsewhere, but I’m personally waiting for these to be released here to move them over for easier management.
According to their website, they are also adding new coins every month and have consistent firmware upgrades, which is administered from a magnetic puck that is completely disconnected and attaches to the bottom and also has an SD card slot for signing transactions offline. This attachment is also how the device is charged as well. I have used this device for a little over a week now and I have yet to charge it yet.
DECENTRALIZED EXCHANGE + FEATURES
I will briefly touch on this as it’s definitely worth mentioning. This feature allows you to not only have direct coin to coin conversion, but it also allows for staking, for instance on the upcoming Tezos support and other POS coins. This is all done in the app and you can swap them offline once you authenticate. Additionally, you can now earn interest on your USDT, for up to 7% annualized when you cold stake it your wallet. You never give up your private keys, so there is no risk. It’s honestly a win-win situation if you have USDT if you have it sitting on your cold wallet.
It connects to Binance DEX, which is a decentralized exchange and looks very promising. Additionally, you will be able to earn interest and manage your staking rewards offline in future firmware upgrades, which is a HUGE selling point for me.
ELLIPAL TITAN – CONCLUSION
Overall, after using this wallet for only about a week, it’s been my favorite and most secure wallet I’ve used EVER. Now, I still use the KeepKey for trading and offline portfolio management for day to day transactions, and I still love that device (you can read the in-depth review HERE, if you haven’t already). However, I’ve moved a lot of my private keys over to this wallet due to it’s more secure secure nature and bull-proof form factor. The user experience is done exceptionally well, and supports some really unique coins and blockchains that you won’t find anywhere else.
The closest wallet to this in terms of security and form factor is the Cobo Vault, but this is 3X cheaper and holds a lot more coins. The outer shell is IP65 rated and can withstand drops and even getting wet via a splash or even the rain. It’d constructed in a VERY durable way, and feels extremely solid and well built when you hold it in your hand. It’s very satisfying.
Don’t get my wrong, convenience is also important, but Ellipal really brought a unique form of security to the table here by having a very rugged and durable device that has ZERO online connections. You can transfer your crypto funds between its companion hot wallet and vice versa anytime, but the cold wallet never goes online, which is really nice and gives me peace of mind.
For a limited time, you can also get their mnemonic metal recovery seed (a $49 value) for only $29 when you bundle it with the Ellipal Titan. That means you can secure your crypto and your recovery seed backup for under $200 all in. This is a STEAL, as this is something I practice myself and believe it is absolutely NECESSARY for any person who takes their crypto seriously.
I also wrote a review recently on the Ellipal Mnemonic Metal recovery seed backup device HERE, if you want to educate yourself on why they are so important. I will leave the special referral link below to get this device, and I for one am VERY excited to use it and see how “durable” it really is.
What do you guys think? Have you ever used a device more secure than this for your crypto? Let me know below!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
