In order to manage, send and receive your ripple you won’t need a bank account, however you will need something similar. In crypto we call it a wallet. After you’ve purchased ripple (XRP) you store them in a wallet.

There are different types of wallets that support ripple, each with its own characteristics. Roughly, you can divide them into three categories: mobile wallets, software wallets and hardware wallets.

In the overview below we’ll give you more information on each type of wallet so you can see which one suits your needs best.

Mobile wallet

Managing your coins using a smartphone. Simple and for beginning investors
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  • Carry your wallet with you
  • Free
  • Less safe than a hardware wallet

Software wallet

Managing your coins using a computer. Suitable for beginners and advanced.
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  • Managing your coins using your PC or laptop
  • Free
  • Less safe than a hardware wallet

Hardware wallet

Managing your cryptocurrencies from a physical device. Safe and for advanced users. Read more

  • Safest storage method
  • It cost money to buy the device

Software wallet: Toast wallet or Exodus

Toast wallet can be installed on your phone (which makes it a mobile wallet) but on your computer as well (which makes it also a software wallet).

Another software wallet provider for XRP that we find to be very user-friendly and safe is Exodus. 

More information? Click here to read more about Exodus wallet.

Hardware wallet

Pretty much all hardware wallet providers support XRP. A hardware wallet is one of the safest methods of storage for your coins. That’s because the access to your coins is encrypted by the hardware wallet and your seed phrase is generated offline. This makes is safer than a wallet that is connected to the internet.

What’s a ripple receiving address?

Each wallet has its own unique receiving address. This is a sequence of numbers and letters, and a ripple address always begins with an ‘r’.

A receiving address is similar to a bank account number. You can find it in your wallet under the tab or button ‘Receive’. If you want to purchase XRP on our platform you simply copy and paste the address from your wallet onto the order form on our website.
Your coins will be sent as soon as we receive the funds.

How to send ripple (XRP)?

If you would like to send XRP you copy the recipients wallet address and enter it at the tab “Send” in your wallet. You then just enter the amount of XRP you would like to send out and complete the transaction.

Something to keep in mind is the minimum xrp balance you need to have for your address to be considered valid by the network. The ripple protocol has implemented a ‘rule’ no other cryptocurrency has. In order to maintain the amount of transactions on the network and the amount of wallets created. Everyone needs to have a minimum balance in their wallet before they can send out any coins. Currently the minimum balance is 20 XRP. This number can be changed by Ripple if, for example, the price suddenly rises a lot.

For example: if the total balance of your ripple wallet is 50 XRP, you are able to send out a maximum of 30 XRP. The remaining 20 XRP need to stay in your wallet and can’t be sent out due to the requirements of the protocol.

How do I create a ripple wallet?

There are several options for managing your XRP. Each type of wallet has its own characteristics and is different in terms of usability and safety. For example, there are online wallets, software wallets, and hardware wallets. Which wallet you choose depends on what you want to use XRP for, and what your buying needs are.

A hardware wallet like Ledger Nano S is the safest option to manage your coins. Are you still trying everything out with a relatively small amount? Then perhaps an online wallet is recommended to begin with. For this instruction we use to create an online XRP wallet. It’s free and very simple! We also added a video for Exodus in the beginning of this article.

How to keep your ripple wallet safe

It’s important to secure your wallet the best way possible. The first step in safe storage is to make sure you store your seed phrase offline. A seed phrase consists of 12 or 24 words that are randomly generated. With these words you will always have access to your funds, even if you lose a password or if your computer breaks.

Write them down on a piece of paper and keep it in a safe place. Don’t take a picture of your seed phrase, most devices with a camera are connected to the internet which could give hackers access to your seed phrase and thus your coins.


You need a wallet in order to send, receive, and manage your ripple. Wallets come in all kinds of shapes and sizes, each with their own characteristics. Need help setting up a wallet or choosing a suitable wallet? Please contact our support team, we’re happy to help!

Let today be your first day in the world of crypto. Get started with buying your first ripple by clicking this button: