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at3n

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  1. You should research the two companies and draw your own conclusions about how likely it is that they will continue to remain in business while you hold their IOUs. While they've both been involved with the XRP community for a long time, and are highly trusted companies, I'd point out that the Gatehub hack from last year has not yet been resolved, leaving them potentially liable for millions of dollars, depending on how legal proceedings turn out. I hope that it doesn't go that way, but all else being equal, Bitstamp is probably less risky right now.
  2. Once they're created there's not a huge amount you can do with them on the XRP Ledger. You can move them around and trade them, freeze them... People using them need to be able to work with trustlines. If you want them to become valuable then you need to work out some real-world use for them that makes them valuable to people, but that will be based off-ledger, most likely, just using the tokens as a representation of value, that can be moved quickly due to XRPL's speed. One use is representing real-world currencies or assets, but to do that you need to operate a gateway and make a business out of it. You might be able to get the tokens onto an exchange if the exchange agrees, but I can only imagine that would be very difficult. But do you know that there's a built in exchange on the XRP ledger? So you can trade them for XRP and other IOUs immediately. There's no centralised facility for creating logos, as far as I'm aware, so you'd be relying on other software products to display a logo for you, so you'd need to gain widespread recognition first. In terms of customisation, you can set the amount created, the amount of decimal places they can be divided into, also a fee that gets paid back to you every time they get traded. Maybe some other options, check the docs. There's loads of information here: https://xrpl.org/issued-currencies-overview.html. It doesn't need to be a representation of an actual currency, it can be any token you want.
  3. I was using "software" loosely, to mean any software that implements XRP wallet functionality, be it running on your computer or online. My point was that there's nothing special about Gatehub, its wallet functionality can be replaced by others. No, you can also use a software wallet, hardware wallet or paper wallet. A traditional software wallet would be installed on your computer and store your secret key encrypted on your hard drive. I would have recommended Toast Wallet, but it has been very recently discontinued. I'm not familiar with other XRP software wallets available for Mac, but you could check out https://github.com/BobWay/ripple-client-desktop/releases/tag/1.4.0-rc2-2. Hardware wallets store the secret key on a physical chip and you connect it to a computer to use, e.g. Ledger Nano. But be aware that you generally can't import existing keys into these, they create new accounts each time. A paper wallet just means storing your secret key on paper to keep it offline. Then every time that you want to transact, you must enter the secret key into some software, ideally running on a computer disconnected from the internet. The software creates and signs a transaction, which you then move to an online computer and submit it to the online version of the software. Bithomp and ripplerm are examples that are built to be used as an offline/online combination. theworldexchange is another that can only be used online. All of them only process your transaction locally and don't save or transmit the secret key anywhere else. As you're using a Mac, be aware that some versions of some online wallets had a bug when used with Safari, which would cause them to generate keys incorrectly. As a result, it's often recommended not to use Safari with any of the online wallets, just in case.
  4. at3n

    excessive fees

    It was just a private company taking advantage, nothing to do with XRP as a system.
  5. The XRP is yours if you know the secret key (begins with s...) Well, you said you had it in Gatehub, and then you closed the Gatehub account. Was there still a balance of XRP in that account when you closed it? If so, then it's still in the same account (presuming you didn't subsequently move it). When you moved your XRP to Gatehub, either you gave Gatehub the secret key (tied to the public address) of an existing account, or else Gatehub generated one for you. Gatehub stores the secret key and uses it to perform transactions on your XRP account. If you did not have some other record of your secret key when you closed your Gatehub account, then it's unlikely that you can recover it, I doubt that Gatehub still knows it (I would hope that they deleted it shortly after you closed your account). You don't, if you know the secret key. If you don't know the secret key, the XRP is not really yours. You'd need to find your secret key, and use it with any XRP wallet software (of which Gatehub is one). Or, perhaps you have some recovery information that Gatehub may have provided you when you set up your Gatehub account, and you could see if you can use Gatehub to recover that. Only if Gatehub holds the only copy of the secret key. If you caused that to be deleted by deleting your Gatehub account, then it's not locked to Gatehub anymore. You probably lose the secret key, hence you lose access to the XRP. The takeaway is that Gatehub did not really store your XRP, it was only an interface to the XRP Ledger (then called Ripple Consensus Ledger), performing transactions on your behalf. The vital piece of information is the secret key, which was always your responsibility, and which you chose to share with Gatehub, and then deleted, from what I can gather.
  6. Where is the xrp now? Still in the same account that was linked to gatehub?
  7. Any decent XRP wallet software should be able to handle and trade the Bitstamp IOUs if you want to keep everything on-ledger. Otherwise you can deposit the USD.bitstamp to your Bitstamp account (use Deposit - > IOU) and trade there. You'll get much better liquidity on Bitstamp so if you can tolerate the risk of a third party holding your funds that would be a better option. Please test with a small amount first before depositing everything.
  8. Absolutely it's doable by anyone, but as the OP seems very new to everything, I'd say that they'd be better off learning how things work at a higher level first (using other software, even on test amounts), so that they can better interpret what's going on in javascript when they get there.
  9. In fairness, what's missing from that screenshot is that you need to have node installed, be familiar with a command-line environment and Javascript, and install ripple-lib. @JasCrypto I wouldn't recommend this route for you unless you're a programmer already. Having said that, it is probably the most secure method (if you do it in a secure environment), but it's a steep learning curve. If you're still not happy to trust any wallet (which is understandable), you could split up your XRP between different wallets created with different software. At least you're less likely to lose it all then.
  10. To create a paper wallet, yes. You should only ever create a paper wallet offline.
  11. There is no official wallet (I assume that by "official", you mean created by Ripple). You need to pick one of the many well-known wallets to trust, many of which have been mentioned in this thread. Myself, I trust Toast, Bithomp, ripplerm, theworldexchange.net, Ledger (hardware wallet). That is the jatchili wallet that people talk about, I've never used it myself, and if it's no longer maintained it seems more risky than an up to date project, but it seems plenty of people are still happy with it, which is a good sign. All the well-known wallets basically work; whether they're safe or not is largely down to how you store the secret keys and passwords (and avoid Safari). Always test a new wallet with a small transaction in and out; that will help you to feel safe because it proves that you know the secret key. You should spend some time making sure that you understand how the underlying technology works (secret keys and how they're stored), and that will help you make your own decision about the best type of wallet to use.
  12. I hear ya, have a like from me
  13. You may have realised by now, but Toast is completely different. You run Toast software on your own device, instead of accessing it through a website, and it generates its own address and secret key for you to use. You can tell that its your own personal wallet because you have the secret key. Even so, you should always test with a small transfer in and out of a new wallet first to make sure that your secret key is correct. No, doesn't look like they mention fees in the xrp.io website, which is misleading. It doesn't look like many people use it though, by the stats on their front page. I'd suggest only depositing your XRP with the really established services, like the big exchanges, or projects that you really know and trust. But the big boys screw up sometimes too.
  14. Erm, I answered this a couple of weeks ago, As mentioned, this was most likely an off-ledger, hosted wallet, so they're able to charge what they like, although if they were a reputable business they should have made that clear upfront. What I think you were expecting is what happens when sending XRP using the XRP Ledger: it "burns" (destroys) a small amount of XRP per transaction. No-one receives that as payment. This is what would happen if e.g. you sent XRP from your Ledger Nano to another account, as it only uses the decentralised XRPL and doesn't involve a third party company. Hosted wallets and exchanges often charge a deposit and/or withdrawal fee, usually cheaper than what you were charged, but it's arbitrary. It's their business, they provide software and trading infrastructure, and they need to be paid in return. In this case, the fees could have been a combination of exchange and wallet fees, or just the wallet. There's no problem with mentioning the name of the wallet, unless you have your own legal reasons not to do so. If we know what site it was, we might be able to clarify further.
  15. Do you know what the source of the refund would be? Gatehub or Ripple or did they recover much from the thief?
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