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RippleTrade Migration: What Is The Easiest, Best Solution


HazzaHat
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Hi All,

This morning I received notification from Authy that my SMS number has been updated. It took 4 days or so but at least it is done, now I need a little help from users here please.

What is the best, safest, fastest and most convenient way to migrate from RippleTrade?

Until a few minutes ago I was under the impression that the migration from RippleTrade had to be via Gatehub (and was not too happy about reading problems that users here are having with them) but noticed in this link that it is not the case: https://ripple.com/knowledge_center/wallet-providers/

My primary criteria about migrating is that I prefer to not send my ID to an online organisation that I know very little about regardless of what their current status is because after losing money in the Cryptsy debacle I have very little trust left. Any organisation receiving my ID will effectively keep it after I transfer my XRP on to a Rippex Desktop wallet almost immediately. Is there a way around this?

Based on the scenario that I am about to login in to RippleTrade to migrate. Please advise:

1) can I migrate directly to my Rippex Desktop wallet? if so, is there a need to send my ID to RippleTrade or Rippex?

2) if I were to migrate to an online wallet, are there any out there that I can migrate to without sending my ID? if so, which ones?

3) if I were to migrate to an online wallet and send my ID as part of the migration or new wallet sign-up process, which do you feel is the most bonafide, reputable and trustworthy one and why would you recommend it?

Any input, feedback or advice will be appreciated therefore a big thank you in advance to anyone who replies here.

Thank you

 

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If you have your secret key you can send your funds to any wallet you like. If you don't have the secret key but the encrypted Ripple Trade I think the only provider that is able to help is Gatehub as they are Ripples migration partners.

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Note: I've never migrated.

1) You can migrate to any Ripple wallet as long as you have saved your secret key for the wallet. That way you can access your wallet by just having the secret key.

2) Not that I know of. The reason for sending ID is that the exchange has to follow KYC/AML.

3) I would go for one of the popular and regulated exchanges that preferably has existed for some time. Gatehub is at least a Ripple gateway.

If you ever want exchange larger amounts of xrp to fiat you'll most likely have to verify yourself at some point.

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Thank you for the reply Mercury.

I checked this and can confirm I do have a secret key associated with the RippleTrade wallet.

Can the funds which are currently still at RippleTrade be sent to any wallet without sending my ID to anyone? I have never migrated from RippleTrade.

For example, I downloaded Rippex but at the moment the balance of that wallet is zero. Please advise on how I go about transfering my XRP directly from RippleTrade to my desktop Rippex wallet.

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Thank you JackTheRippler. So all online wallet providers require KYC and/or AML and on top of that you would recommend GateHub.

Please elaborate on how I migrate my XRP from RippleTrade as I have my secret key. How can I access my wallet with just the secret key?

Does that also mean I did not have to go through the Authy confirmation process in the first place because I am already in possession of my secret key?

Edited by HazzaHat
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3 hours ago, HazzaHat said:

Thank you JackTheRippler. So all online wallet providers require KYC and/or AML and on top of that you would recommend GateHub.

Please elaborate on how I migrate my XRP from RippleTrade as I have my secret key. How can I access my wallet with just the secret key?

Does that also mean I did not have to go through the Authy confirmation process in the first place because I am already in possession of my secret key?

To be clear the legal, compliant Gateways require KYC- if there is an actively managed platform NOT asking for KYC I would be concerned with compliance and the associated risk of them being shut down, illegal, or a scam.

As for the secret key, open any wallet you desire (ie. downloadable ones, online, exchanges, etc). There should be a 'import' option somewhere (might be called 'create wallet from key'). Enter secret key. Boom! You have control of your wallet. If you had your secret wallet that is all you needed.

 

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2 hours ago, HazzaHat said:

Thank you JackTheRippler. So all online wallet providers require KYC and/or AML and on top of that you would recommend GateHub.

Please elaborate on how I migrate my XRP from RippleTrade as I have my secret key. How can I access my wallet with just the secret key?

Does that also mean I did not have to go through the Authy confirmation process in the first place because I am already in possession of my secret key?

Not all online wallets/exchanges require KYC, however, the more trustworthy ones do because they are following regulations. The ones who do not ask for KYC are often used by individuals who want to stay anonymous for a reason, e.g. due to illicit reasons. It's still up to you to judge which one is the best. The best wallet though, is a wallet you have complete control of, where you know the secret key, like a desktop wallet (Rippex) and even better is a cold (offline) wallet.

I don't recommend Gatehub or any other exchange, it's just a suggestion. I have no experience with Gatehub, I'm only verified there.

To access your wallet with a secret key you can use Rippex Desktop Wallet.
Open up Rippex, at the 'Open account' section, click on 'Create new account', then click on 'Create a new account with a secret key' and lastly enter your secret key.

As for Authy I think that's only for the RippleTrade migration, so no, you don't have to use it if you already have your secret key.

 

Tip: If you reply to someone in a thread quote that person and they'll get notification (makes it easier to know if someone replied)!

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1 hour ago, JackTheRippler said:

Not all online wallets/exchanges require KYC, however, the more trustworthy ones do because they are following regulations. The ones who do not ask for KYC are often used by individuals who want to stay anonymous for a reason, e.g. due to illicit reasons. It's still up to you to judge which one is the best. The best wallet though, is a wallet you have complete control of, where you know the secret key, like a desktop wallet (Rippex) and even better is a cold (offline) wallet.

I don't recommend Gatehub or any other exchange, it's just a suggestion. I have no experience with Gatehub, I'm only verified there.

To access your wallet with a secret key you can use Rippex Desktop Wallet.
Open up Rippex, at the 'Open account' section, click on 'Create new account', then click on 'Create a new account with a secret key' and lastly enter your secret key.

As for Authy I think that's only for the RippleTrade migration, so no, you don't have to use it if you already have your secret key.

 

Tip: If you reply to someone in a thread quote that person and they'll get notification (makes it easier to know if someone replied)!

Thank you for the tip, I quoted  :  )

I used the Rippex Desktop Wallet, created a new account with a secret key and all it shows now is this message: loading..

Please advise is this is normal because it has been like this for over 10 minutes. I did all this without signing up on the Rippex website, I simply downloaded the Desktop Wallet and used the secret key to import,

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3 hours ago, Mercury said:

To be clear the legal, compliant Gateways require KYC- if there is an actively managed platform NOT asking for KYC I would be concerned with complians and the associated risk of them being shut down, illegal, or a scam.

As for the secret key, open any wallet you desire (ie. downloadable ones, online, exchanges, etc). There should be a 'import' option somewhere (might be called 'create wallet from key'). Enter secret key. Boom! You have control of your wallet. If you had your secret wallet that is all you needed.

 

I understand the need for these companies to be legally compliant and I agree without doubt that concerns will be raised if they do not ask for KYC/AML.

I have used my secret key in the Rippex Desktop Wallet but what I see is: Loading..

Should I sign out and back in?

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I made progress, I saw all the XRP on my Rippex Desktop Wallet but there is a problem.

When I used the Create A New Account With A Secret Key I used the same file location to save the new wallet, also called 'wallet'. It should have saved it over the previous one but it did not.

When my XRP balance showed up it was fine, they were there under the same Ripple Wallet Address as a few years ago so that was great to see. When I logged out and back in, that was when the issue was noticed. When I log in, it opens the previous Wallet address that does not have any XRP to activate it instead of the one with the XRP I just migrated.

Should I use Create A New Account With A Secret Key again and this time call the Wallet (wallet2) and start the process again or is there something else I should?

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27 minutes ago, HazzaHat said:

I made progress, I saw all the XRP on my Rippex Desktop Wallet but there is a problem.

When I used the Create A New Account With A Secret Key I used the same file location to save the new wallet, also called 'wallet'. It should have saved it over the previous one but it did not.

When my XRP balance showed up it was fine, they were there under the same Ripple Wallet Address as a few years ago so that was great to see. When I logged out and back in, that was when the issue was noticed. When I log in, it opens the previous Wallet address that does not have any XRP to activate it instead of the one with the XRP I just migrated.

Should I use Create A New Account With A Secret Key again and this time call the Wallet (wallet2) and start the process again or is there something else I should?

I have had this issue at times, no idea why. Go ahead and create a new account with a secret key again. I never had any issues after trying it twice

 

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33 minutes ago, HazzaHat said:

I made progress, I saw all the XRP on my Rippex Desktop Wallet but there is a problem.

When I used the Create A New Account With A Secret Key I used the same file location to save the new wallet, also called 'wallet'. It should have saved it over the previous one but it did not.

When my XRP balance showed up it was fine, they were there under the same Ripple Wallet Address as a few years ago so that was great to see. When I logged out and back in, that was when the issue was noticed. When I log in, it opens the previous Wallet address that does not have any XRP to activate it instead of the one with the XRP I just migrated.

Should I use Create A New Account With A Secret Key again and this time call the Wallet (wallet2) and start the process again or is there something else I should?

I've never done the secret key process so I can't help you with that, sorry!

Yes, create it again with the secret key and save the file in another folder and/or rename it to something appropriate.

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18 minutes ago, Mercury said:

I have had this issue at times, no idea why. Go ahead and create a new account with a secret key again. I never had any issues after trying it twice

 

Ah I had User/Admin permissions on the PC in the Ripple Wallet folder. I right clicked the folder and gave control to the folder creator and went through the same secret key process and hey presto!

I have all my XRP :)

Many thanks for helping. Returning to the Cryptoworld after a few years out is not as easy as it seems.

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8 minutes ago, JackTheRippler said:

I've never done the secret key process so I can't help you with that, sorry!

Yes, create it again with the secret key and save the file in another folder and/or rename it to something appropriate.

Thank you for your help, all sorted now.

So in essence, I had no need to go through the Authy formalities nor go back to Ripple Trade because I had the secret key in the first place. All I needed was a Wallet to migrate.

An online Wallet would have meant me having to give my ID to an online organisation in the same field as Cryptsy and after losing money on that I lost trust and wanted to avoid giving it, totally. Having a Rippex wallet suits my needs for now so once again thank you.

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  • 2 years later...

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