Articles
Types of Ripple Wallets
by Sagar Chauhan Digital Marketing AnalystSimilar to bitcoin, ethereum, stellar, litecoin, and many others, Ripple is also a type of cryptocurrency. It is one of the fastest growing cryptocurrencies and accepted worldwide as well. Since cryptocurrencies have turned out to be highly profitable for the investors, it is wise to invest in Ripple as it might offer you high gains as well. Just like you store your physical currencies in a wallet, cryptocurrencies are stored in digital wallets. A cryptocurrency wallet is used for storing the data of all the transactions, trading, and funds collected. Just like any other cryptocurrency wallet, Ripple wallet also exists on records maintained by the blockchain. A digital wallet consists of 3 elements; public key, private key, and password. The wallet holder is able to trade or transact only when these cases are paired.
Types of Ripple Wallets
The following is a list of some popular Ripple wallets.
Paper Wallet
The paper wallet is just a piece of paper that has a unique code or barcode printed over it. Users generally prefer paper wallet over other wallet as no internet connection is required for its operation.
It is operated on an offline basis and safeguards the Ripple funds from hackers or scammers. In simpler terms, a paper wallet is 100% reliable as it is safe from any type of theft or hacker attack.
Mobile Wallet
Also termed as ‘light clients’, mobile wallets don’t need to operate an entire blockchain. Instead, they are operated by network of nodes and provide accurate data to the user. Through a mobile wallet, users can access their cryptocurrencies at any time. But, they are prone to hacking. Thus, users are responsible to assure their safety.
Desktop Wallet
The name clears itself, desktop wallet runs on a computer or laptop. Users like to download the entire blockchain in order to use the light client. They are easy to operate and reliable as well because it can be operated from only one, laptop or tablet from where the software was downloaded. In order to enhance security, using malware is a wise choice as it prevents invasion through the internet.
Hardware
Hardware wallets work in a very distinct way from software wallets as a hardware device like a USB is used for storing the user’s private keys. Though, the purpose of hardware wallets is to make online transactions, the user’s private key is stored offline which makes it more secure. Hardware wallets can be used with a wide range of web interfaces and supports different currencies as well.
Choosing a reliable ripple wallet is very easy. Mentioned above are the different types of wallets that you can go for and it is the user’s choice to select the wallet that he/she finds suitable for storing the entire data of Ripple funds safely.
Types of Ripple Wallets
The following is a list of some popular Ripple wallets.
Paper Wallet
The paper wallet is just a piece of paper that has a unique code or barcode printed over it. Users generally prefer paper wallet over other wallet as no internet connection is required for its operation.
It is operated on an offline basis and safeguards the Ripple funds from hackers or scammers. In simpler terms, a paper wallet is 100% reliable as it is safe from any type of theft or hacker attack.
Mobile Wallet
Also termed as ‘light clients’, mobile wallets don’t need to operate an entire blockchain. Instead, they are operated by network of nodes and provide accurate data to the user. Through a mobile wallet, users can access their cryptocurrencies at any time. But, they are prone to hacking. Thus, users are responsible to assure their safety.
Desktop Wallet
The name clears itself, desktop wallet runs on a computer or laptop. Users like to download the entire blockchain in order to use the light client. They are easy to operate and reliable as well because it can be operated from only one, laptop or tablet from where the software was downloaded. In order to enhance security, using malware is a wise choice as it prevents invasion through the internet.
Hardware
Hardware wallets work in a very distinct way from software wallets as a hardware device like a USB is used for storing the user’s private keys. Though, the purpose of hardware wallets is to make online transactions, the user’s private key is stored offline which makes it more secure. Hardware wallets can be used with a wide range of web interfaces and supports different currencies as well.
Choosing a reliable ripple wallet is very easy. Mentioned above are the different types of wallets that you can go for and it is the user’s choice to select the wallet that he/she finds suitable for storing the entire data of Ripple funds safely.
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About Sagar Chauhan 
Digital Marketing Analyst
167 connections, 3 recommendations, 550 honor points.Joined APSense since, November 30th, 2016, From Delhi, India.
Created on Nov 27th 2018 06:33. Viewed 381 times.
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