How and where Bitstamp stores XRPs you hold with them?

[Closingbell2012]

Hi All. Some of us may hold substantial amount of XRPs at bitstamp but I don't seem to find on their website where they hold the XRPs. The XRP deposit address associated with bitstamp accounts appear to be not the ripple address associated with your bitstamp account (so its not a wallet).

 

 

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[JoelKatz]

Bitstamp uses a hot and cold wallet system. I believe they store some client XRP funds in their XRP cold wallet account, rDsbeomae4FXwgQTJp9Rs64Qg9vDiTCdBv. I'm not sure where the rest of them are. I believe every Bitstamp account deposits into that cold wallet and they use destination tags to know which account to credit.

 

 

[kanaas]

4 minutes ago, JoelKatz said:

Bitstamp uses a hot and cold wallet system. I believe they store some client XRP funds in their XRP cold wallet account, rDsbeomae4FXwgQTJp9Rs64Qg9vDiTCdBv. I'm not sure where the rest of them are. I believe every Bitstamp account deposits into that cold wallet and they use destination tags to know which account to credit.

 

 

Q is what does it means when Bistamp goes bust (not that I believe it will happen soon). 

[JoelKatz]

8 minutes ago, kanaas said:

Q is what does it means when Bistamp goes bust (not that I believe it will happen soon). 

Bitstamp owes you your XRP. If, for some reason, they cannot honor that debt, then you will lose it. I have pretty high confidence in Bitstamp, but still I try not to leave significant funds on any exchange for longer periods of time than necessary. I don't recommend using any exchange as a wallet.

[Closingbell2012]

Bitstamp owes you your XRP. If, for some reason, they cannot honor that debt, then you will lose it. I have pretty high confidence in Bitstamp, but still I try not to leave significant funds on any exchange for longer periods of time than necessary. I don't recommend using any exchange as a wallet.

Is the below solution secure to keep XRPs offline?

I've not followed the conversation but If you want to generate a keypair offline you can download:
https://github.com/whotooktwarden/generateSecretOffline
 

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[kanaas]

9 minutes ago, JoelKatz said:

Bitstamp owes you your XRP. If, for some reason, they cannot honor that debt, then you will lose it. I have pretty high confidence in Bitstamp, but still I try not to leave significant funds on any exchange for longer periods of time than necessary. I don't recommend using any exchange as a wallet.

Exactly what I was thinking. Best combination of convenience and security, not relying on the exchangefor XRP, being Gatehub with 2FA activated and with XRP in a native Ripple wallet. You only got to trust them (and yourself) for being careful with your secrets and paswords .... and of course the Ripple network and the developers  

[kanaas]

1 hour ago, Closingbell2012 said:

 

Hi All. Some of us may hold substantial amount of XRPs at bitstamp but I don't seem to find on their website where they hold the XRPs. The XRP deposit address associated with bitstamp accounts appear to be not the ripple address associated with your bitstamp account (so its not a wallet).

 

 

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If you can switch to Gatehub, I would firmly recommend that.... They have the native Ripple Wallet option!

[namini]

For cold wallet you can also use:

https://octillionsa.github.io/generate-ripple-wallet
https://github.com/OctillionSA/generate-ripple-wallet (source)

You can disconnect from the internet once the page is loaded.

I really think you should stay with Bitstamp or Gatehub, if you don't know exactly what you're doing it's a lot more troubles than keeping securely your funds with a trusted exchange or gateway.

[TD31]

4 hours ago, namini said:

For cold wallet you can also use:

https://octillionsa.github.io/generate-ripple-wallet
https://github.com/OctillionSA/generate-ripple-wallet (source)

You can disconnect from the internet once the page is loaded.

I really think you should stay with Bitstamp or Gatehub, if you don't know exactly what you're doing it's a lot more troubles than keeping securely your funds with a trusted exchange or gateway.

 

So, probably the best option for a newbie would then be to keep some on Bitstamp (for occasional trading mabye) and transfer the bulk of it to Gatehub (for holding)?

[namini]

or for now you don't touch your funds and you familiarise yourself with different wallets, cold wallets, hosted wallets, desktop wallet and tutorials

https://www.xrpchat.com/topic/4063-popular-wallets/

[kanaas]

 
So, probably the best option for a newbie would then be to keep some on Bitstamp (for occasional trading mabye) and transfer the bulk of it to Gatehub (for holding)?

You can trade Bitstamp on Gatehub as well