Importing a Paper Wallet

[MaizenBlue12]

I have an old ripple desktop wallet with the json file and private key. I'm looking to send the assets to a Ledger device for long term storage (in addition to flagging an ETH address for the Flare airdrop.)

With XRP, is there any risk of losing 'change' when sending a transaction from a paper wallet? I guess my question is should I send a test transaction or just move 100% of the funds in one transaction?

Appreciate the help.

[brianwalden]

3 hours ago, MaizenBlue12 said:

I have an old ripple desktop wallet with the json file and private key. I'm looking to send the assets to a Ledger device for long term storage (in addition to flagging an ETH address for the Flare airdrop.)

With XRP, is there any risk of losing 'change' when sending a transaction from a paper wallet? I guess my question is should I send a test transaction or just move 100% of the funds in one transaction?

Appreciate the help.

I've never used a Ledger wallet, but if you have the private key can't you just import the wallet into your ledger?

Ripple wallets all have a 20 XRP reserve that's stuck in the wallet and can't be sent. And every transaction has a fee, it's usually something like .000012 XRP.

[HenrySeldom]

5 minutes ago, brianwalden said:

I've never used a Ledger wallet, but if you have the private key can't you just import the wallet into your ledger?

Ripple wallets all have a 20 XRP reserve that's stuck in the wallet and can't be sent. And every transaction has a fee, it's usually something like .000012 XRP.

That would defeat the purpose of the Ledger. The procedure would be to generate a new XRP address with the Ledger (or any hardware wallet) and move your XRP to the new address.

[MaizenBlue12]

19 hours ago, HenrySeldom said:

That would defeat the purpose of the Ledger. The procedure would be to generate a new XRP address with the Ledger (or any hardware wallet) and move your XRP to the new address.

Yes, i'm going to do this. Just wondering if I should send a test transaction or send the majority of the funds (20 xrp will be trapped per brianwalden). 

I've heard of a 'losing the change' risk in crypto and have never spent from a paper wallet yet. 

[brianwalden]

I think the losing the change you're talking about is on ledgers with high fees. If the amount you leave behind is less than the transaction fees, it's basically stuck.

Ripple's transaction fees are a fraction of a fraction of a cent. So besides the wallet reserve, you don't have to worry about leaving a chunk behind. On that note, because the fees are so low, it doesn't hurt you to do a small transaction to test. If your Ledger wallet is new you need to send at least 20 XRP for the first transaction to fund the wallet.

If you're not going to be using your paper wallet anymore there's a way to delete it and retrieve 15 of the 20 XRP held in reserve. I've never done it, but I'm sure you can search to find out how to do it. I don't know what kind of implications deleting will have if, for example, one day XRP is worth $10 and the wallet reserve is lowered to 1 XRP. Are those 5 XRP now lost forever, where if you hadn't deleted it you could now retrieve 19 XRP from the undeleted wallet? I don't have answers, those are just things to consider.