XRP wallet: how to choose a reliable and convenient option
Choosing a wallet for XRP is an important aspect of working with cryptocurrency, especially amid the growing number of cyber threats related to hacking and phishing*. However, in addition to security, availability and functionality are no less important factors when selecting an XRP wallet.
* Phishing is a type of cyber fraud in which attackers disguise themselves as legitimate services (exchanges, wallets, DeFi protocols) in order to gain access to users' private data. As a rule, such attacks are carried out via fake websites, emails, messengers, or malicious browser extensions that are visually almost indistinguishable from the original resources.
Hardware wallet for XRP
Hardware XRP wallets* are considered the most secure, as physical devices keep users' private keys isolated from the online environment. The high level of security of hardware wallets for XRP is confirmed by statistics: according to research data, less than 0.1% of hardware wallet users encounter cryptocurrency theft.
* A hardware wallet is a specialized physical electronic device (for example, a USB device, smart card, or card with a secure chip) designed for the safe storage of private keys in an isolated environment with no permanent internet connection. Such a device contains a built-in cryptographic module that generates and stores private keys inside protected memory, preventing their extraction in plain form. Interaction with a hardware wallet occurs via connection to a computer or smartphone, while all critical operations — including transaction signing — are performed directly inside the device.
Physical devices provide additional security measures using passwords, PIN codes, and biometrics, which makes leakage of private keys* highly unlikely even if an XRP hardware wallet is lost or stolen. However, in terms of ease of use, hardware wallets are inferior to software interfaces, so they are best suited for cold storage* of large cryptocurrency holdings.
* A private key is a unique cryptographic code that confirms ownership of cryptocurrency and is used to sign transactions. Anyone who gains access to a private key can fully control the funds, which is why its loss or compromise almost always leads to irreversible loss of assets.
* Cold storage is a method of storing cryptocurrency in an environment not connected to the internet, which significantly reduces the risks of remote hacking and theft of funds. Most often, cold storage is implemented using hardware or paper wallets and is used for long-term storage of large amounts.
Ledger
One of the most recognizable and best-selling hardware wallets for XRP. Ledger devices feature a built-in next-generation Secure Element EAL6+ security chip that prevents private key leakage.
Ledger's XRP wallet also supports device protection with a PIN code and two-factor authentication (2FA)*.
* Two-factor authentication (2FA) is a security mechanism in which access to a crypto wallet or confirmation of operations requires passing two independent stages of user identity verification. Typically, it combines something the user knows (a PIN code or password) and something the user possesses (a smartphone with an authenticator app, a hardware key, or a one-time code). The main value of 2FA lies in the fact that compromising one factor does not give an attacker full access to the funds.
Ledger devices are compatible with both mobile and desktop platforms, support integration with DeFi applications, and offer a native staking* feature.
* Native staking is a way to earn rewards by temporarily locking tokens to participate in maintaining blockchain operations directly through the network protocol or built-in wallet functions, without transferring funds to third-party services. With this approach, the user retains full control over assets and private keys, while all locking and reward operations are performed within the wallet.
Trezor
Trezor is a pioneer in the world of hardware wallets. The XRP wallet from Trezor provides additional security measures through a passphrase* (an extension of the mnemonic password) and Shamir Backup (SLIP39)*.
* A passphrase is an additional security element added to the seed phrase and used to create alternative sets of keys. Even if the seed phrase is compromised, an attacker will not be able to restore the wallet without knowing the passphrase, making this method an effective asset protection tool.
* Shamir Backup (SLIP39) is a cryptographic backup standard that allows a seed phrase to be split into several parts, each of which has no independent value. Only a predefined number of parts is required to restore the wallet, which increases resistance to loss, theft, or physical destruction of one of the copies.
The XRP wallet from Trezor allows users to work with DeFi services via the Trezor Suite desktop and mobile application.
Tangem
The XRP wallet from Tangem is issued in the form of a card with a built-in EAL6+ chip and IP68 protection rating, ensuring a long device lifespan. Tangem supports convenient backup using additional cards, and the XRP wallet is managed via a mobile application.
Software XRP wallet
Software wallets* for XRP are inferior to hardware wallets in terms of security but are more convenient to use, making them better suited for beginners. At the same time, in terms of functionality, software XRP wallets also surpass hardware ones: popular clients support almost all the necessary functions for working with DeFi applications.
* Software wallets are applications for mobile devices, computers, or browsers that allow users to manage cryptocurrency via an internet connection. They offer a high level of convenience and broad functionality but require strict adherence to cybersecurity measures, as they operate in an online environment.
Software wallets come in three types: desktop, mobile, and browser-based.
Mobile XRP wallet
Trust Wallet
One of the most popular and easy-to-use mobile wallets for XRP, with the ability to create multiple wallets and choose supported blockchains for each.
The XRP wallet from Trust Wallet features a built-in Web3 browser, a cryptocurrency exchange service, and staking* functions, as well as support for biometric and PIN code protection.
* Staking is the process of locking cryptocurrency for a certain period to participate in maintaining the blockchain network and validating transactions, for which the user receives rewards. Staking allows cryptocurrency holders to earn passive income while increasing the stability and security of the blockchain by involving token holders in its operation.
OKX Wallet
A multi-chain Web3 XRP wallet from the well-known crypto exchange OKX, featuring a flexible address management system, biometric protection, and support for cross-chain swaps*. OKX Wallet is available both as a browser extension and a mobile application.
* Cross-chain swaps are a technology for exchanging cryptocurrency between different blockchains without the need to use centralized exchanges. Such operations are carried out using smart contracts and decentralized protocols, allowing users to exchange assets directly while maintaining control over funds throughout the transaction.
Exodus
A simple mobile XRP wallet with support for native staking and a 2FA feature for additional protection. In addition to the mobile application, a desktop version of the Exodus wallet is also available.
Desktop XRP wallet
Atomic Wallet
A desktop XRP wallet with support for swap functions and native staking. A mobile version of Atomic Wallet with a simple and user-friendly interface is also available. The XRP wallet from Atomic Wallet allows users to track and manage their crypto portfolio directly within the application.
Paper XRP wallet
Paper wallets* are considered not the most reliable storage method, as they are easy to damage through careless handling, which can lead to asset loss. In addition, creating a paper XRP wallet requires using a reliable private key generator, as online services are unsafe.
* Paper wallets are a physical method of storing cryptocurrency in which private keys and public addresses are written down or printed on a physical medium. Despite a high level of protection from online attacks, paper wallets are vulnerable to physical damage and require especially careful storage.
The only advantage of a paper XRP wallet is cold storage, which eliminates remote cryptocurrency theft. A paper wallet can be printed on paper; however, it is important to ensure the creation of backup copies in case of loss or damage &mdashat least 2 or 3 copies.
A paper XRP wallet displays the public (address) and private keys that provide access to transactions. These data can be presented in the form of QR codes for convenient cryptocurrency transfers or wallet import into digital devices. A paper wallet may also display the seed phrase*, the type of cryptocurrency used, and the wallet creation date.
* A seed phrase is a set of 12, 15, 18, 21, or 24 words that serves as a universal tool for recovering a crypto wallet and generating all associated private keys. Loss of the seed phrase means loss of access to funds, while its compromise gives attackers full control over the assets.
It is safest to create a paper XRP wallet in a pre-prepared offline environment. There are offline programs that allow private keys to be generated in a secure environment, as well as physical generators such as ELLIPAL Joy. To increase security when creating a paper XRP wallet, the device used should be disconnected from the internet to minimize the risk of private key leakage.
For additional protection of a paper XRP wallet, special waterproof and fireproof containers can be used. An additional passphrase can also be applied to strengthen digital asset security.
Before use, the XRP wallet should be imported to verify that it was generated correctly. It is also advisable to update paper wallets every 1–2 years to enhance security.