Is Rippex a Safe and Legit Wallet?
Have you ever heard of the Rippex crypto wallet? If so, you might be asking questions such as: is Rippex safe? Is Rippex a legit wallet? If you do your internet research, you will stumble upon many forums like Reddit where people are asking How safe is Rippex wallet. Also, you will see that many users are searching for ways to retrieve their funds from their wallets since it seems the project has been abandoned.
The Rippex was one of the best and safest wallets for Ripple until the team leading the project didn’t leave the development of the Rippex wallet. But who knows, maybe, they might think of renewing it in the future.
However, let’s look at what Rippex wallet represented and what it offered to its users.
Is Rippex safe – Or was Rippex safe?
Some investors preferred to use this wallet due to the lack of rules as it was not registered under government rules. The Rippex wallet was famous for its very low transaction fees and where registration was free (on their website). They offered several advanced features to their users, including multiple verification processes, advanced privacy, transaction transparency, and full control over your wallet account (mobile and computer system).
Multi-currency
Rippex dealt with multiple currencies. It allowed you to store your digital currency in the wallet account and other currencies like USD, EUR, CNY,, etc. Users could buy Ripple coins using these currencies easily.
Mobile app
The personalized Rippex wallet mobile application worked on all major operating systems (windows, mac, android…). The app was very simple and easy to use. You can have your Ripple coin wallet in your pocket with the advanced wallet mobile app.
Fees
Rippex had a different rate for different digital currencies. Some of these currencies were completely free to transfer, deposit and exchange, etc. Fees for Ripple start from 0.2% to 0.3%. So far, this is one of the lowest fees a Ripple Wallet company has been charged.
Transfers
Rippex’s wallet allowed users to transfer money to their wallet account in seconds. They have not set any coin limits for Ripple. They have a limit on other coins, including BTC. So, if you are looking for a wallet with unlimited coin options, then this is a plus point.
Transaction Types
Rippex offered different types of transactions for their Ripple XRP investors. Users were allowed to make a deposit, withdrawal, transfer, or wire transfer with your Google Wallet account. Fees would be charged for all such transactions (0.2% to 0.3%).
Is Rippex safe – What are alternatives to Rippex wallet
Which Ripple Wallet Should You Choose?
Below, you will find our selection of the best crypto wallets for the secure storage of your XRP tokens. Here they are :
- Ledger Nano X: XRP wallet for cold storage
- Coinbase Wallet: best mobile Ripple wallet
- Coinomi: XRP desktop wallet with IP encryption
- Unstoppable: reliable and secure digital wallet
Following this article, we are going to do a quick overview of the best crypto wallets dedicated to storing XRP tokens. Let’s see this in detail!
Ledger Nano X: XRP wallet for cold storage
Ledger Nano X: XRP wallet for cold storageArrived on the market in 2019 thanks to the Ledger company, Ledger Nano X is a physical Ripple wallet that allows crypto-traders to store more than 1,500 cryptos offline. It is a USB key that uses Bluetooth to connect to a remote computer. Thus, you can easily transfer Ripple from your phone via the Ledger Live app.
In addition, Ledger Nano X uses BOLOS technology and the WYSIWYG protocol to guarantee security. Note that its storage space is 2,048 kb. Currently, Ledger Nano X sells for 119 euros.
Advantages
Easy to use Ripple wallet
Ultra-secure crypto wallet
A 100 mAh battery for optimal autonomy
LED screen available
Disadvantages
Very high purchase price
Risk of loss
Buy a Ripple Wallet
Coinbase Wallet: best mobile Ripple wallet
Coinbase Wallet: best mobile Ripple wallet. Formerly called Toshi, Coinbase wallet was born in 2018, an XRP wallet offered by the Coinbase exchange platform. However, a Coinbase account is not required to use this crypto wallet. The Coinbase Wallet XRP supports Ripple and over 50 ERC-20 tokens. In the process, you can store everything NFT there.
At most, it should be noted that Coinbase Wallet is an online wallet that you can use from your mobile devices. This means that all transactions and storage of crypto assets are carried out online. This crypto wallet uses a multi-signature system, QR code, and biometric authentication for more security.
Advantages
Easy to use Ripple Wallet
Ideal for beginners
Portfolio functional in several countries
Affordable pricing
Disadvantages
Interface not translated into French
Ripple wallet for use on mobile only
Few cryptocurrencies supported
Coinomi: XRP desktop wallet with IP encryption
Coinomi: XRP desktop wallet with encryption from IPCoinomi is a desktop wallet that facilitates the exchange and storage of crypto-currencies, particularly Ripple. It falls into the category of online wallets or hot wallets. In other words, it can be used from an internet connection. That said, users can control their digital assets and private keys.
Coinomi allows you to store Ripple cryptocurrency and many other top altcoins to invest in during Altseason. So you can use it on a desktop or mobile device. In addition, the XRP wallet accepts offline transactions in order to circumvent remote hacking.
Advantages
Open source and fully secure wallet
Ability to use Coinomi on desktop and mobile
Latest generation mobile wallet
Completing transactions offline
Disadvantages
Obligation to download and install the wallet
Vulnerability of XRP tokens
Unstoppable: reliable and secure digital wallet
Unstoppable: reliable and secure digital wallet Developed by Horizontal Systems, Unstoppable is like a decentralized application from which you can store your XRP. It is a digital wallet that can secure more than 60 digital currencies. It offers features that match any type of investor profile.
In addition, Unstoppable is a Ripple wallet known for its very high level of security. However, it complies with BIP44, BIP49, and BIP89 standards. For this, bugs and hacks are eliminated thanks to the absence of central servers. Also, the user of this wallet is the only one to have access to the private keys stored on the computer.
Advantages
A significant level of security
Smooth and easy-to-use platform
Standard-compliant Ripple wallet
Several features available
Disadvantages
XRP wallet is usable on mobile devices only
Hidden fees
What would happen if your crypto wallet development team leaves the project
The last few years have been marked, among other things, by the explosion of the wallet market. Cryptocurrency security is one of the main topics in this sector; such a boom is not surprising. Two main players share the market, Trezor, and the French company Ledger.
Whether for Ledger or for Trezor, the funds are not domiciled with them. These only contain the private keys that give you access to the funds on the relevant blockchain. For the example of Ledger, the latter uses its own nodes. In the event of bankruptcy, it is more than likely that Ledger Live will no longer work. On the other hand, the hard wallet is “secured” (usable) by your recovery phrase. Indeed, when setting up your physical wallet, you will be required to create what is called a recovery seed corresponding to a sequence of 12 or 24 words. Thanks to this system, you will be able to recover your crypto-currencies and your configuration if you break or lose your wallet or even if the company in question goes bankrupt.
It is, therefore, essential that you keep this sentence in a safe place, in which case there would be a real risk of being able to lose everything.
Wallets are safe thanks to this recovery phrase. Thus, you can always recover your funds in another compatible wallet if you go bankrupt.
Exception: If you have Tokens on a classic exchange like Coinbase or Kraken, then it is the latter that keeps your bitcoins for you (like a bank would). You, therefore, do not have access to your private keys.
Procedure via Electrum
In case your device is gamaged or lost or if your hardware wallet company goes bankrupt, here is the procedure to follow in order to recover your funds using your recovery phrase via Electrum.
Go to Folder > New/Restore.Select “Standard Wallet.”Select “I already have a seed.”
Enter your seed phrase. Separate individual words with spaces.Click on button “Options”
Check “BIP39 Seed”.Unless you are using a password, do not check “Extend this seed with custom words.” Click Next.
If you have used Trezor Wallet before, select a p2sh-segwit account.
Set a password or leave the fields blank.
Is Rippex safe – Final verdict
So if you are still asking Is Rippex safe or not, the final verdict is no – it is not. It used to be till the team abandoned the project. Still, users can retrieve their coins using other cold or hot wallets like those we mentioned above.
