Best XRP Wallets for 2023

Ripple’s XRP is one of the most exciting cryptocurrencies on the market right now. It’s got the potential to revolutionise the banking/currency conversion sectors and streamline sending funds internationally. Therefore, it’s no surprise so many investors want to find out the best XRP wallets.

Throughout this article, we’ll be exploring why XRP wallets are important, the different kinds of wallets, and how to get an XRP wallet. Furthermore, we’ll be explaining how to select the best XRP wallet and providing reviews on the best XRP apps. Let’s begin.

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The Best XRP Wallets Reviewed

For investors planning to buy XRP, a secure, feature-rich wallet is a must. However, there are lots of XRP apps out there so it can be difficult to find the best XRP wallet. We’ve done the research and created an XRP wallets list to ensure any investors remain safe when buying the digital asset.

1. eToro –  All-Around Best XRP Wallet

eToro is a regulated broker that provides its clients with a couple of different free XRP wallets. Since its 2017 launch, eToro has grown to serve more than 27 million users around the world. With over 70 cryptocurrencies available to trade, eToro is a great all-in-one platform to manage a variety of assets.

When deciding on a wallet, security is perhaps the most important factor. After all, nobody wants to be left out of pocket through no fault of their own. eToro utilises SSL encryption and cold storage to secure both client funds and information. On top of this, the eToro Money crypto wallet allows investors to further secure their XRP by taking custody of the private keys linked to the wallet.

Fees on eToro are some of the lowest in the industry at just 1% for trading in addition to a slight spread fee. When it comes to sending XRP using the eToro Money wallet, users can transfer up to $2,999 in a single transaction or up to $200,000 within 24 hours. Furthermore, there is no additional transacting fee on eToro so it’s possible to send XRP for true cost.

While the standard eToro exchange wallet is more than secure enough for short-term holds or keeping your trading funds safe, the eToro money wallet is designed with long-term investing in mind.

Overall, thanks to its range of wallets, eToro is the best XRP wallet currently available. Users can trade, convert, and withdraw XRP with simplicity. Furthermore, the platform’s in-depth educational resources make learning how to invest and transact with crypto straightforward.

It’s also a popular Cardano wallet because the eToro platform supports Cardano staking rewards – although not XRP staking yet.

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2. Crypto.com – Great Alternative XRP Wallet

With more than 50 million, Crypto.com is one of the most popular XRP wallets that supports the buying, selling, and storage of crypto. It supports over 230 assets and comes equipped with a ton of advanced features designed to make your life in the crypto market that little bit easier.

Crypto.com takes pride in its security. 98% of client funds are securely held offline in cold storage, which only a few people within the company can access. However, the Crypto.com DeFi wallet allows investors to take custody of their assets and own the keys linked to the wallet. For security-conscious investors, this is a big bonus as it means nobody (Crypto.com included) has access to your funds and it’s possible to recover any assets if access to the account is lost.

Fees on Crypto.com are fairly cheap at 0.4% for trades and a further 2.99% for credit/debit card transactions. For withdrawing XRP to an external wallet Crypto.com charges 0.25 XRP. However, using the Crypto.com DeFi Wallet, you’ll only be paying standard network fees (0.00001 XRP).

As Crypto.com is primarily a crypto exchange, it’s simple to sell your XRP. Although Crypto.com does not support XRP staking, investors can stake any stablecoins they have following a sale and earn up to 10% in rewards.

Crypto.com is a well-rounded platform. Both wallets are available on mobile, meaning the XRP wallet app is accessible by almost anyone. With the sheer amount of features on the Crypto.com app, it’s a sure choice for the best Ripple wallet.

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3. Coinbase – Simple to use XRP Wallet

With over 98 million users in 100+ countries, Coinbase is perhaps the largest XRP wallet app on the market. It was founded in 2013 and has since taken the world by storm as a result of the phenomenal user experience and the sheer simplicity of the platform.

With Coinbase being a top XRP wallet app, it’s no surprise the platform’s security is impressive. Coinbase uses cold storage to secure client funds but also goes a step further by requiring any crypto to undergo a strict review process before it can be added to Coinbase.

It’s important to understand that XRP is not tradable on any Coinbase platform. However, Coinbase is still one of the best XRP wallets as it allows users to store assets securely and without worry.

While Coinbase & Coinbase Pro both function as XRP wallet apps, the Coinbase Wallet remains the safest as its non-custodial. Furthermore, the Coinbase Wallet also supports NFT’s making it one of the best XRP wallets  for storing NFTs alongside traditional crypto-assets. There are no additional costs when it comes to sending XRP, but there is a 22 XRP minimum for withdrawing to a non-Coinbase address.

Coinbase is world-famous and for good reason. It provides investors with a simple and secure place to store their digital assets, making it one of the best XRP wallets on the market.

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4. Xumm –  Decentralized Wallet for XRP Ledger

On our XRP wallet list, Xumm is a very important addition. It was created by Ripple-backed XRPL Labs and acts as the gateway to the XRP Ledger (XRPL). This means Xumm can be used to store XRP along with any other XRP-based currencies (e.g. Coreum, Sologenic).

As you’d expect from one of the best Ripple wallets, Xumm boasts excellent security. It’s a non-custodial wallet, meaning investors have complete control over their assets. On top of that, Xumm does not work on any security bypassed devices (rooted/jail-broken phones, etc), helping to reduce the chances the platform will be exploited.

Xumm is one of the most complete XRP Bitcoin wallets. It supports all XRP-based assets, as well as cryptos like Bitcoin, Ethereum, and Litecoin. Although you cannot buy XRP directly on Xumm, you can convert it to any other supported currency and store or transfer it as you please. It’s a well-rounded Ripple ledger wallet and a necessity for investing in the XRPL.

5. Atomic Wallet – Decentralized XRP Wallet App

Another decentralized Ripple wallet app, Atomic Wallet was released in 2017 and has acquired over 3 million users. It was created by the CEO/Co-founded of Changelly, Konstantin Gladych.

Similarly to Xumm, Atomic Wallet gives investors complete control over their private key, perfect for long-term investments. However, one rather large drawback to the platform’s security is its lack of hardware wallet support.

Transactions on Atomic Wallet are tree and incur only network fees. However, the in-built exchange (powered by Changelly)  does charge a variable fee for buying/selling crypto assets. The vast majority of major cryptocurrencies are supported on Atomic Wallet, so its got one of the most diverse asset ranges of any XRP app.

Atomic Wallet is a solid choice for the best XRP app. Its non-custodial and private keys are encrypted, meaning client funds are safe. On top of this, Atomic is consistently adding new features to ensure it remains one of the best XRP Bitcoin wallets.

6. Ledger Nano X – Cold Storage Crypto Wallet

For security-focused investors, it’s hard to beat a hardware XRP wallet. Ledger is likely the most well-known brand of hardware wallet and for good reason. It’s trusted, fairly cheap, and extremely secure.

By keeping assets offline, hardware wallets are impervious to digital attacks. For an attacker to gain access to funds stored on a Ledger, they would need physical access to the ledger as well as its passcode, making it near-impossible for funds stored on a hardware wallet to be stolen.

In contrast to the other wallets we’ve discussed, you will have to buy a Ledger rather than simply find a Ripple wallet download. There are 3 models available, the cheapest (Ledger Nano S) costing $59 and the most expensive (Ledger Nano X) at $149.

A hardware XRP wallet like a Ledger is an excellent way to secure any XRP for the long haul. It takes 5 minutes to set up and once ready, it’s possible to load with assets, secure the recovery phrase, store the device, and still check on your portfolio anywhere using the Ledger Live app.

7. Trezor – Store a Large Variety of Crypto Offline

For investors looking for a Ledger alternative, a Trezor is an excellent choice. Despite being competitors, both devices are very similar. They both require the physical device to access funds, encrypted private keys, and store assets offline.

The Trezor Suite allows investors to monitor their portfolios and manage assets in a user-friendly manner. On top of its monitoring tools, each Trezor comes with a password manager to help ensure investors are using strong, unique passwords.

Trezor’s do come at a slight price premium compared to Ledger’s offerings. A basic device (Trezor Model One) costs $77 and the more advanced version (Model T) costs a staggering $280.

With expandable storage and a slightly longer list of supported assets, Trezor is a great hardware XRP wallet. While it does cost a little more than a Ledger, the device is somewhat more premium and comes with a few nice quality of life features.

8. Exodus – Non-Custodial Wallet with In-Built Exchange

Founded in 2015, Exodus is one of the most popular non-custodial wallets on the market. On top of a well-designed mobile app, Exodus has a great Ripple desktop wallet that allows investors to manage their assets without hassle.

As a non-custodial wallet, security is good on Exodus. Users are in total control of their assets and can send XRP for just network cost. If an extra layer of security is required, investors can link their Exodus wallet to a Trezor hardware wallet and enjoy the best of both worlds.

Exodus also comes equipped with an in-built exchange which investors can use to buy XRP using a credit/debit card, bank transfer, or Apple pay. As the exchange service is provided by Shapeshift, fees can vary from day to day so it’s always worth double-checking before purchasing anything.

All in all, Exodus is an extremely capable non-custodial wallet and one of the few with hardware support and a built-in exchange. While there are other platforms that do each function better, Exodus is an excellent all-in-one platform that does it all.

The Top XRP Wallets Compared

Figuring out how each platform compares to one another can be difficult. So to make things easier, we’ve created a list of XRP wallets, including their fee structure and best features.

What is an XRP Wallet?

An XRP wallet is a piece of software or hardware that allows you to store XRP on the Ripple network.  To be able to store XRP the wallet must be compatible with the Ripple network.  Most of the best crypto wallets (eToro included) will allow investors to store assets from different networks in a single place (e.g. ETH & XRP together). However, some wallets are designed specifically for one network and will not work with assets from another. Therefore, it’s worth checking to make sure a wallet supports the assets you want to store ahead of time.

Why You Need an XRP Wallet

For any investor wanting to buy XRP, an XRP app or wallet is a requirement. Without one, you cannot own XRP or transact on the network.

The best XRP app should keep your assets secure, be convenient to use, and meet an investor’s personal requirements. Typically centralised or exchange wallets are considered the least secure, and non-custodial hardware wallets are the most.

How do XRP Wallets Work?

An XRP wallet acts in a similar fashion to a bank. It stores assets and allows users to send or receive cryptocurrency.

Every wallet comes with an address. This XRP wallet address is used for sending & receiving. All your XRP is stored on the Ripple network, it’s possible to view the amount of XRP any holder owns, although personal details are not revealed.

Next are keys. Each wallet comes with a public and private key. The public key is, for the most part, unimportant. It’s used for the wallet to create addresses. However, the private key is the most important component of your wallet. A private key (usually a 12 or 24-word sequence) can be used to access a wallet from any device. They can be used to recover a wallet if access is lost, as such they should be stored securely and never be given out.

There are a ton of different XRP wallets out but these two differences are the most important to understand.

• Custodial Wallets – A wallet where the provider controls the private key (Coinbase, Crypto.com)
• Non-Custodial Wallets – A wallet where the investor controls the private key (eToro Money Crypto Wallet, Crypto.com DeFi wallet)

Types of XRP Wallets

Every XRP wallet will fall into one of three categories, software wallets, hardware wallets, and paper wallets. The differences can be difficult to ascertain but once explained clearly, it’s easy to understand.

Software Wallets

‘Software wallet’ is a broad term used to describe any XRP wallet downloaded (or used) from the internet. However, there can be a lot of differences between software wallets. For example, both Atomic and Coinbase are considered software wallets but one is custodial and one non-custodial. Because of this, it’s advisable to use our comparison table to work out which wallet is right for you.

Hardware Wallets

Hardware wallets (often referred to as cold storage) are non-custodial wallets that require a physical device for access. The device needs to be plugged into a computer and unlocked before any assets can be accessed. This makes hardware wallets by far the safest option for storing cryptocurrency. The downside is they’re also the least convenient. Typically, the exchanges built into hardware wallets charge high fees so any assets would need to be transferred to an exchange to be sold cost-effectively. As such, it’s advisable to use hardware wallets for long-term storage and keep trading funds on an exchange.

Paper Wallets

A paper XRP wallet is, as the name implies, a piece of paper printed with the private and public keys associated with a wallet. Although not practically common in modern times, a paper XRP wallet tends to be an extremely safe way of storing your assets. Ultimately, the level of security will depend on how the paper is stored, but using a paper XRP wallet is far more secure than storing your keys in a text file, for example.

How to Choose the Best XRP Wallet for You

Security

At the core of any wallet, hot or cold, are its security features. As the primary use of any wallet is storage, it must be secure enough for long-term holds.

Generally, cold (hardware) wallets offer the best security as a physical device, as well as a password is required to access the assets. When it comes to hot wallets, it’s worth looking out for non-custodial platforms. These wallets will allow the investor to control and store the private key, providing true ownership of the assets. The drawback is, that if the wallet owner loses the key, they could lose access to all the assets inside the wallet.

Lastly, when it comes to exchange or custodial wallets, they tend to be better for short-term storage or frequent buying and selling.  Exchange wallets can still be perfectly secure, but it’s worth making sure the linked account is equipped with 2-factor authentication and some sort of insurance as the wallet is only as secure as the account (and the exchange).

Supported Coins

As the goal of most investors is to have a well-diversified portfolio, the number of available assets can be just as important as the quality of the wallet. Nobody needs every asset under the sun, but it’s worth ensuring that a platform has most major cryptocurrencies. 

Typically, most platforms should support the top 40 cryptocurrencies so having at least 40 assets available to trade is a good benchmark to aim for.

Fees

To be cost-effective, a wallet must allow investors to buy and sell without being charged too much. This is especially true for anyone wanting to frequently buy as fees can add up extremely quickly. 

On top of trading fees, it’s worth checking the rate for each deposit method. Typically, debit/credit cards incur the steepest fees and wire transfers the lowest, but each exchange varies greatly so always check before depositing. 

Transaction fees are another area to watch out for. Ideally, the best XRP wallets will allow investors to send their assets for only network cost. This makes transferring XRP between wallets and exchanges quick and almost free (about a hundredth of a cent).

Mobile Experience

In today’s world, it’s common to access a crypto wallet via mobile. It’s more convenient than having to sit down at a desk using a computer and allows you to manage your assets from anywhere in the world. Therefore, it can be a good idea to select a platform with well designed, intuitive mobile app.

Ease of Use

Nobody wants to spend hours getting used to a new XRP wallet, so it makes sense to use one that’s simple to navigate and takes minimal getting used to. It’s worth making sure a wallet doesn’t have any important sections hidden in submenus and doesn’t use any confusing terms, as both of these factors make learning to use a new platform far more of a headache than needs be.

Best XRP Wallet for NFT Trading

With the rate at which NFTs are growing in popularity, it’s likely most XRP investors will want to get involved in the space at one point or another. Therefore, it could be a good idea to select a wallet with good NFT trading features. Out of the wallets we’ve reviewed, Coinbase makes buying and selling NFTs the easiest. With a simple and fast fiat on-ramp, investors can buy NFTs using a credit/debit in just minutes making it the best XRP wallet for NFT trading.

How to Get an XRP Wallet

It can be difficult to figure out how to get an XRP wallet alone. So to ensure our readers have the best wallet for Ripple, we’ve included this comprehensive guide detailing the entire process of how to get an XRP wallet.

Step 1: Register with eToro

Before it’s possible to buy or store XRP, an account with eToro must first be created. This can be done by heading over to the eToro homepage and completing the registration process. Only a few basic details are needed and the process can be completed in just a couple of minutes.

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Step 2: Verify Account

eToro is a regulated broker. Therefore, once an account has been created with eToro, it needs to be verified.  The only documents needed for this step are a photo ID (passport, driving license) and proof of address (bank statement, utility bill)

Step 3: Deposit

As soon as the account has been verified, it’s time to deposit. eToro supports a range of payment methods including credit/debit cards, bank transfers, or e-wallets (PayPal, Skrill).  To deposit, simply press ‘Deposit Funds’, select a payment method, decide how much to invest, and press ‘Deposit. The funds will arrive promptly but first-time deposits are known to take a little longer.

Step 4: Buy XRP 

Once the funds have landed in the account, it’s possible to buy XRP. Simply click on the eToro search bar, type ‘XRP’, press ‘Trade’, then decide how much XRP to buy and press ‘Open Trade’. As soon as the purchase is complete, a wallet will be created containing the purchased XRP.

Conclusion

There are a lot of XRP wallets out there so selecting the best wallet for XRP can be hard. Choosing the right wallet is one of the most important steps when it comes to investing in crypto so it’s crucial to get right. Every wallet on our list is a solid choice but there is still a clear winner.

eToro is a regulated broker that makes buying and storing XRP as simple as can be. It has both custodial and non-custodial options as well as a huge range of stocks, meaning there’s something for all types of investors.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

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