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Cold storage wallet and ledger address settings. Is my wallet secure?


Timing
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Hello.

I created a wallet offline using the Exodus desktop application running on a Tails USB stick disconnected from the Internet. In doing so I generated my ledger address. I did 2 small transfers from Coinbase and Huobi into this address and confirmed the deposits. So far, so good.

When viewing my wallet using http://ripplerm.github.io/ripple-wallet, I noticed a bunch of setting that I do not understand nor could I find information about these ledger settings. Are any of these settings mandatory in order to have complete, uncompromised ownership of my wallet?

Examples: Secret set: ✘, Set RegularKey, Set Signer List, PasswordSpent, RequireAuth, DisallowXRP, DisableMaster, NoFreeze ...

and under Wallet Settings: what is "Default Account"?

Is there any info online to easily understand what all these setting are for and how a layman can lock down this wallet?

Thank you kindly in advance.

 

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Welcome!

You'll get a lot of the answers here: https://xrpl.org/manage-account-settings.html and https://xrpl.org/accountset.html, if you're not afraid of some technical references. They are more advanced features so the documentation is probably a little above "layman" level. You can find pretty much anything you'd like to know about the technical aspects of XRP on that site.

There's nothing inherently insecure about new XRP accounts these days, but if you're looking for ways to increase security further, then you should specifically look at multi-signing, regular keys and disabling the master key, although none of that is necessarily required to have really good security. I'd say it's more important to be safe with how you handle and store the keys, and your general security practices, which you seem to be aware of already.

If you want to get into IOUs or "issued currencies", then also read up on "rippling" and make sure that it's disabled on your account (it is by default)

You say you've done a test of receiving XRP to the wallet, you should also do a test send, to make sure the secret key that you have is correct.

The "secret set: x" just means that you haven't loaded any secret key into ripplerm, so it can't actually make any transactions with the account that you have loaded. Other wallets may refer to this as "read only" or similar.

"Default account" I assume is the account that ripplerm will display be default whenever it's opened.

Edited by at3n
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