Baka 131 Posted December 14, 2018 My small stash (less then 1k) is on Bittrex. I wonder where should I put my XRP if I want them safe? which site / wallet ? Share this post Link to post Share on other sites
baobeiiiii 13 Posted December 14, 2018 (edited) Most simple and safe would be a paper wallet. Generate the wallet/private key offline. Then just xfer your stash to the paper wallet. I wouldn't keep any crypto on an exchange long-term as hacks can happen and you lose it all. Just keep the paper you printed the wallet on safe. Or tattoo the secret key on ur body. Edited December 14, 2018 by baobeiiiii 1 Baka reacted to this Share this post Link to post Share on other sites
Eric123 2,113 Posted December 14, 2018 Honestly I don't fear leaving crypto on exchanges as long as two factor id is enabled. I have some on an exchanges and some on a couple of Nano Ledger S. I wouldn't keep it all in one place. 2 bruce21b and Baka reacted to this Share this post Link to post Share on other sites
Arrowfletch 44 Posted December 14, 2018 I keep 1/3 on the exchange and the rest in a paper wallet. 2fa unfortunately doesn't protect from attack via the exchange itself. And all the exchanges are run by humans.... Interesting to hear others viewpoints 3 turanmete, Inruin and thekiyote reacted to this Share this post Link to post Share on other sites
Caracappa 284 Posted December 14, 2018 55 minutes ago, Eric123 said: Honestly I don't fear leaving crypto on exchanges as long as two factor id is enabled. I have some on an exchanges and some on a couple of Nano Ledger S. I wouldn't keep it all in one place. Agreed. Most, and mainly big exchanges keep it in cold storage, so the risk of direct hack is low. Most if not every 'hack' I read about where people lost crypto were done by phishingmails. As long as you are very skeptical of every mail you receive from exchanges, dont log in via links in mails but directly on the website, it should be fine... Till it's not 2 Arrowfletch and bruce21b reacted to this Share this post Link to post Share on other sites
Pixelboy 18 Posted December 14, 2018 As everyone has suggested cold storage (paper wallet) is your best option to keep your Zerps safe, make sure to have multiple copies of the paper wallet and store them in a safe physical locations (to have backups files in case something happens in one location). In my case i generated my paper wallet with the help of ToastWallet because it adds an extra layer of security encrypting the information, i printed the encrypted wallet and my key code to decrypt it separately, and i also save the data in USB´s storage which i do not use, and stored them in different safe locations. Then, when you are ready to transfer your Zerps to an exchange in the future, you can restore your wallet in ToastWallet with the key code and the encrypted data. Share this post Link to post Share on other sites
baobeiiiii 13 Posted December 14, 2018 Where you sent xrp to a brand new wallet, the cost is 20xrp to activate it. Does that xrp just disapear or would the new wallet have a balance of 20xrp? Share this post Link to post Share on other sites
Xrylite 16 Posted December 14, 2018 14 minutes ago, baobeiiiii said: Where you sent xrp to a brand new wallet, the cost is 20xrp to activate it. Does that xrp just disapear or would the new wallet have a balance of 20xrp? Essentially, when you create a wallet and send XRP to it, the first 20 is locked into that wallet for good. In a sense, it's lost XRP. However, it is possible for them to reduce this reserve, so if/when the price of XRP rises, I'm sure that the reserve will decrease. If I remember correctly, the reserve is specifically to prevent abuse, but don't quote me =0. Share this post Link to post Share on other sites
baobeiiiii 13 Posted December 14, 2018 (edited) 16 minutes ago, Xrylite said: Essentially, when you create a wallet and send XRP to it, the first 20 is locked into that wallet for good. In a sense, it's lost XRP. However, it is possible for them to reduce this reserve, so if/when the price of XRP rises, I'm sure that the reserve will decrease. If I remember correctly, the reserve is specifically to prevent abuse, but don't quote me =0. So it costs 5.7 usd to open a XRP wallet. Not cheap! Anyone think minimalist ripple client is a good way to generate a wallet? It works offline... but I've heard that you must not use safari. You can also check how many xrp you have in the wallet using it. I'd like to know what encryption it uses when you encrypt the secret key... so that one could decrypt using another website or program if 10 years down the line one doesn't have the minimalist client. Edited December 14, 2018 by baobeiiiii Share this post Link to post Share on other sites
Derpinator 16 Posted December 14, 2018 Ledger nano 2 Inruin and TheXRPer reacted to this Share this post Link to post Share on other sites
Batman 120 Posted December 14, 2018 I store mine in a Ledger Nano S. I've been holding for over a year now and I've go no complaints so far. I check the balance every so often when I feel paranoid. 2 Inruin and TheXRPer reacted to this Share this post Link to post Share on other sites
ManBearPig 109 Posted December 14, 2018 X3 Ledger Nano S. Share this post Link to post Share on other sites
baobeiiiii 13 Posted December 14, 2018 how is a ledger nano s any better than a paper wallet... and the nano s is expensive.. Share this post Link to post Share on other sites
at3n 193 Posted December 14, 2018 51 minutes ago, baobeiiiii said: how is a ledger nano s any better than a paper wallet... Many possible reasons depending on your circumstance. Have you considered that with a Nano, no-one needs to see the secret key (even in encrypted form) in order to use it? There's much less of a need to worry about cameras, and no need to worry about keyloggers, or leaving the piece of paper lying around by mistake, for example. If an unencrypted paper wallet is stolen, then game over. If a Nano is stolen, they're not going to guess your PIN in three tries. Different people have different preferences, there is no "best" in my opinion. 57 minutes ago, baobeiiiii said: and the nano s is expensive.. Totally depends on how much you have to put in it! 2 XRPwinning and Tinyaccount reacted to this Share this post Link to post Share on other sites
baobeiiiii 13 Posted December 14, 2018 1 hour ago, at3n said: Many possible reasons depending on your circumstance. Have you considered that with a Nano, no-one needs to see the secret key (even in encrypted form) in order to use it? There's much less of a need to worry about cameras, and no need to worry about keyloggers, or leaving the piece of paper lying around by mistake, for example. If an unencrypted paper wallet is stolen, then game over. If a Nano is stolen, they're not going to guess your PIN in three tries. Different people have different preferences, there is no "best" in my opinion. Totally depends on how much you have to put in it! Except the word list has to be on paper and if that is stolen, anyone can access your coins even without a nano s (secret key can be derived directly from the word list). So a nano s is still a paper wallet in that respect. The being able to use it as a wallet even on an infected or public computer sounds good though. One thing that scares me about paper wallet is when using it online then the secret key has been exposed to the internet. I guess one could put the word list in a safety deposit box though. 1 hallwaymonitor reacted to this Share this post Link to post Share on other sites
