Wallet Options

[RegalChicken]

I'm considering different options for upgraded security, and am curious if anyone can share their experiences with the hardware wallets. 

The Ledger Nano S supports XRP now, correct? 

Is there any limit to how many different wallets it will support simultaneously? meaning, could i move my BTC, ETH, LTC, XRP, and DOGE all to my nano simultaneously? 

What if the USB stick/Nano is damaged in some way. Water, run over by car, or just plain crashes?

I'm "trading" my cryptos less and less, and HODL'ing them more and more, so the idea of safer cold storage appeals to me vs trusting exchanges. 

[hammertoe]

I really don't understand the point of hardware wallets. I mean, the 'wallet' to an XRP account is just two 30--odd byte strings right? Why do people need a bit of hardware for that? Why don't they just save them locally, or put them in 1password, or print them out and stick them in their desk drawer / under their mattress / in a safe deposit box?

-Matt

[RegalChicken]

11 minutes ago, hammertoe said:

I really don't understand the point of hardware wallets. I mean, the 'wallet' to an XRP account is just two 30--odd byte strings right? Why do people need a bit of hardware for that? Why don't they just save them locally, or put them in 1password, or print them out and stick them in their desk drawer / under their mattress / in a safe deposit box?

-Matt

You're not wrong, I Just wanted to see what people are doing. I'll probably do exactly that. 

[zenkert]

I have a Ripple Software Wallet. And I also have some xrp on my trading platform, which I trust.
Have not considered a Nano, since it will just be just another "thing" to bring.

I mean I trust my trading platform with my fiat, when I´m not buying xrp.
Why should I not trust the with som of my xrp?

I´m on Bitstamp.

Edited November 6, 2017 by zenkert
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[xrp_moonjet]

I have been using nano S .. wen you configure your nano S for the first time, it will give you a 24 words.. you have to keep that 24 words stored safely..

If you're device got stolen or lost, you can get another nano and retrieve your coins using that 24 words.. it has a pin code on top of it . If you enter in wrong pin thrice, it will lock your device..

I have heard from reviewers that its better to install few wallets alone in nano S.. memory is limited.. So you can't install lot of wallet on to the nano S.. I use it only for ripple..

I am still scared to put all the coins on to nano S.. so I have it in exchange and nano S.. 

But overall I love nano S..

 

 

 

[Mercury]

I have played around with various options. For 'hardware' I use Tails on a USB drive and/ or a Raspberry Pi. Software it's a variation of ripple desktop wallets and encrypted storage/ files. other options are printed wallets

[RegalChicken]

my buddy and I were talking today about how we ironically only trust the exchanges that seem the most 'bank like' in their user interface.  I have my crypto spread out over many different locations for security purposes. I hear too many incidents of hackjobs etc and I just don't trust having all my eggs in one place. 

[xrp_moonjet]

can someone explain how to do a printed wallet for ripple?

[Mercury]

35 minutes ago, RegalChicken said:

I just don't trust having all my eggs in one place. 

Trust the Chicken to know about eggs

[Mercury]

35 minutes ago, xrp_moonjet said:

can someone explain how to do a printed wallet for ripple?

Use the top right search option, or visit the tutorial section. There are several guides for paper wallets.

Here's one:

https://www.xrpchat.com/topic/3187-beginners-guide-creating-a-cold-ripple-wallet-20/

[RegalChicken]

OK I'm bringing this thread back to life because in crypto-world there is so much garbage and thievery. How does anyone know what wallet to use safely? 

Ether wallet fail:

https://hackernoon.com/yes-this-kid-really-just-deleted-150-million-dollar-by-messing-around-with-ethereums-smart-2d6bb6750bb9 

Monero Wallet fail:

https://themerkle.com/monero-users-should-avoid-the-fraudulent-xmr-wallet-platform/

Possible XRP wallet fail:

https://www.xrp-storage.com 

Trezzor Wallets have been hacked (possibly):

https://steemit.com/bitcoin/@tomshwom/lessons-from-the-trezor-hack

How do you know who to trust? I've heard of people getting hacked out of their coinbase, bittrex, and gatehub accounts. And i'm sure there are hundreds if not thousands of other examples of wallets and exchanges which people were scammed out of their precious coins. 

 

This is why I'm leaning towards the Ledger Nano S.  How does anyone know for sure whom to trust, Ripple doesn't even list a wallet on the main site as far as I can tell? 

[Bharat]

There are many wallet options available for XRP. Some of them are

Ledger Nano S

Rippex 

Gatehub

To have a more detailed review of these wallets, i would suggest you to go through this article on Best Wallet to store ripple