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Beginners Guide: Creating a Cold Ripple Wallet (3.0)


Mercury
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On 2017-3-8 at 4:25 PM, Mercury said:

<<THIS WALLETS SUPPORT HAS BEEN TAKEN OVER BY BITHOMP>> The thread has been altered to reflect the changes made.

Part of the new Community Beginners Guide series.

Other guides in this series:

Beginners Guide: Into. Quick overview of the series and purpose of the guides

Beginners Guide: XRP First Steps Simple first steps to acquiring XRP including 1) opening a wallet, 2) wallet funding/ buying XRP, and 3) sending the first XRP.

Beginners Guide: Desktop Wallet Step by step instructions in downloading and installing XRP CHAT WALLET, the creation and activation of new wallet and the first few steps to becoming a ripple user.

Disclaimer: This post features creating a cold ripple wallet and assumes you know what ripple, wallets and how secret vs. public keys work and is offered ‘as is’ and accepts no responsibility for any damage or losses incurred etc.

Difficulty level: LOW

Hints: The images are also direct links

What Is a Cold Wallet?

Cold wallets, also referred to as a paper wallet, are secure backups of cryptocurrency wallets. They are nominally stored offline in secure locations and are used to secure high value amounts that are not accessed often (the opposite of a hot wallet which is usually stored in an easily accessed area for frequent use). The secret key is generated securely and is not shared with anyone other than the holder of the cold/paper wallet.

Easy Way to Generate a Cold Wallet

There are some community tools that have been created to help in the creation of cold/ paper wallets. One such tool can be found at goo.gl/hbpKzu. The page will look like the illustration below

https://ihomp.github.io/ripply-paper-wallet/coldwallet-SHA1-cdfbe3260927b6073180a1099f02ef99ce0495e8.html

  1. Your Ripple address, the public key that can be shared or monitored on the ripple network. You can have funds sent to this wallet via this address from any other ripple wallet.
  2. You Secrete Key, how you prove ownership over a wallet and gives withdraw rights. DO NOT SHARE
  3. Click here to create new wallet.

Note: Although generated your new ripple wallet is not active until the network minimum of 20 XRP is deposited.

 

 

 

 

How to Restore Funds from a Paper Wallet

Option 1) - Use one of the light Ripple clients

  • This one has a nice interface: https://yxxyun.github.io/ripple-wallet/
  • This one is pretty raw & minimalistic: https://jatchili.github.io/minimalist-ripple-client/

Option 2) - Use GateHub (requires identity verification)

  • Register at https://gatehub.net
  • Navigate to Wallets and click + (Add New) and import your Ripple secret key.

@Mercury DUDE this is not safe unless you personally own this machine and the php/java functions included. Clicking on the "Generate" button runs function generate() which makes the QR code by getting the DIV with the qraddr id. But then it references the Class QRCode which we do not see in the script. You as a user have no idea if once you click that PRINT button if your Secret is recorded on the server. Now this guy would have a list of all of the Secrets that were printed. Then there is your browser cache. Most people do not clean there own cache for the entire life of their computer. Websites often reach into that cache and pull fun stuff out.

The point is that I do not own the server that this is hosted on so I would never use it to transfer my millions of XRP to. You simply can not be sure if it is safe. The absolute best method is to use the Rippex wallet, go offline and print the wallet screen when you create your wallet.

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On 2017-3-9 at 2:11 AM, PunishmentOfLuxury said:

It may be worth adding that (I think I'm right in saying) the wallet could be generated on an offline or airgapped computer by copying the webpage code and transferring it to such by means of a USB stick or whatever.

Yes you are correct. You can download this html script and print it on your computer. I just tried it BUT there is still the cache issue.  If it is saved to an Air gapped computer then yes, this will be absolutely fine and super convenient, but that computer can never touch a network just to be sure.

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On 2017-5-9 at 9:27 AM, kimchee said:

Hello. Can I create this wallet using my Ipad? I don't have pc. ?

@kimchee   Yes you can. You can use the wallet address that is on the first page to create a wallet on an ipad. You can even print it from the ipad HOWEVER, it will still not be guaranteed safe. You can not be sure the iPad is not caching the element prior to printing. It must transfer the data to other apps and function prior to printing, so the number of times it is copied is unknown.

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On 2017-5-11 at 10:23 PM, xxxripple said:

hello i have a problem , i created a cold wallet from here https://github.com/segrax/xrp-wallet/releases/tag/2 , after i went to changelly.com an exchange site and exchnaged some btc into xrp and insert the address from the cold wallet to recieve the xrp, on the exchange site its showing that the xrp was sent to my address but in my wallet its nothing there . can someone please tell me what to do to recieve that xrp into my wallet? thank you

Did you activate the wallet first?

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On 2017-5-21 at 3:59 AM, seolein said:

I see... so it is basically an one time fee then for each wallet...

Yes sort of. It is more meant to prevent robots and spam from generating free wallets by the thousands. The wallet still has a "worth" of 20 xrp even when you have no balance. Keep those wallets because later it may be that the fee is lifted and you can retrieve that 20 xrp.

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On 2017-5-23 at 11:12 PM, I_Hustle_Hard said:

Because it costs 20 XRP to do so and even though that 20XRP seems like nothing right now if it reaches 1/10th of Bitcoins price that new account just cost me $4400[yeah i'm hella bullish] Im pretty sure the key works or else it wouldn't be listed as a solution for cold storage i just want somebody to make me feel better about sending 75% of my XRP to it. lol

Download the Rippex app to your computer and go offline. Import the secret key into that app and then test it out. If all works ok, then you can access your XRP.

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A raspberry pi is like 30€, I think most people here could afford that even if they never use that pi for anything other than generating a wallet. I mean the nano S is convenient and all but it's 60€ + shipping. I recommend this option for anyone who want a computer that never touched the internet and want to generate one of these wallets. ;)

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@Xilobyte, this guide was created with beginners in mind and kept simple as a result. If transferring millions of XRP I would hope a user would take a few extra seconds to further read threads and post on the forum for more advanced steps. As you noted the page could be opened offline and caches could be cleared to offer more security. I will update the post to mention these.

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7 hours ago, Mercury said:

@Xilobyte, this guide was created with beginners in mind and kept simple as a result. If transferring millions of XRP I would hope a user would take a few extra seconds to further read threads and post on the forum for more advanced steps. As you noted the page could be opened offline and caches could be cleared to offer more security. I will update the post to mention these.

@Mercury Sorry guy. I am not trying to beat ya up.  My only hope is to help to protect the beginners. I hate for them to do the wrong tech and take the easy way out while increasing their risk in loosing all of their money. Not saying that you are pushing them that way. There are too many bad guys out there that will take advantage of them becuase they are new. They fail to properly research the apps, security requirements and the risks. Hell look at half of the questions here. Most have no idea what Crypto is or how even Ripple is using XRP.

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20 hours ago, Xilobyte said:

@kimchee   Yes you can. You can use the wallet address that is on the first page to create a wallet on an ipad. You can even print it from the ipad HOWEVER, it will still not be guaranteed safe. You can not be sure the iPad is not caching the element prior to printing. It must transfer the data to other apps and function prior to printing, so the number of times it is copied is unknown.

Thank you. I think I'll just buy a new laptop then.

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On 6/23/2017 at 9:16 PM, Kakoyla said:

@dr_gonzoThe address is already "there" / already exists, as well as every other possible address. When you send 20 XRP to it, it is activated by being recorded in the ledger. 

I know the chances are slim to none, but whats to stop the offline generator creating an address that already exists ? And i then send my XRP to some one else ?

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20 minutes ago, dr_gonzo said:

I know the chances are slim to none, but whats to stop the offline generator creating an address that already exists ? And i then send my XRP to some one else ?

That would be interesting but impossible. To prevent those things, micro time is often used to calculate in addition to other variables. This includes the current date and time down to the millisecond. So never two of those :)

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