Best Ripple Wallet UK – 5 FREE and Safe XRP Wallets

at eToro, the UKs #1 Broker

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What is a Ripple Wallet UK?

In the traditional world of finance, we store cash in bank accounts for safekeeping. However, when it comes to cryptocurrencies like XRP – we need to store the funds in a digital wallet. Ripple wallets not only allow you to store your XRP tokens securely, but also send and receive funds. For example, if you wanted to transfer some XRP tokens to another user, you would need to complete the transaction from within your XRP wallet.

As we cover in more detail shortly, there are several different types of Ripple wallets in the UK. For instance, you might decide to download your chosen XRP wallet to your Android or iOS phone via an app. Or, if you don’t feel comfortable looking after your private keys – which is comparable to a password, you might keep your XRP tokens at the exchange or broker that you purchased them from.

Either way, when you first set your Ripple wallet, you will be given a ‘public address’. In its most basic form, this is not too dissimilar to a bank account number and sort code. This is because the public address is what you need to provide when you want to transfer XRP tokens into your Ripple wallet.

We should also note that the best Ripple wallets in the UK come with additional features and tools. This often includes the ability to buy, sell, and trade digital currencies without leaving the wallet. You can also check the value of your XRP investment in real-time and even access passive investment tools like Copy Trading and savings accounts. More on this later.

How to Find the Best Ripple Wallet UK

Ripple has been a top-10 digital currency in terms of market capitalization since it was launched in 2012. In fact, at its peak, the cryptocurrency carried a valuation of over $120 billion (about £85 billion). With this in mind, it makes sense that there are hundreds of wallets that support XRP tokens. This means that you should spend some time researching the many Ripple wallets available to ensure you choose the right one.

Below we discuss the main factors that need to be considered in your search for the best Ripple wallet UK for your needs.

Safety

Make no mistake about it – the primary function of a Ripple wallet is to keep your XRP tokens safe. This sentiment could not be more fitting in the cryptocurrency industry – as hackers will often target digital wallets as a means to steal funds. As such, if your chosen Ripple wallet does not come with sufficient security protocols, your XRP tokens are at risk of theft.

When researching the best XRP wallets in the UK – we found that the following safety nets are crucial in keeping your digital funds away from remote hackers.

Regulation

Very few Ripple wallets benefit from a regulatory license.

• As per our own findings, the only exception to this is the eToro wallet – which is regulated by the Gibraltar Financial Services Commission (GFSC).
• Furthermore, the eToro brokerage platform that backs the XRP wallet is authorized and regulated by the Financial Conduct Authority (FCA).
• This means that by choosing eToro as your go-to Ripple wallet, you can be sure that you are using a trusted and legitimate provider.

Take note, most Ripple wallets in the UK operate in an unlicensed manner – so be sure to check this before depositing your XRP tokens.

Two-Factor Authentication (2FA)

A really effective way of keeping your XRP tokens away from the wrong hands is to choose a Ripple (XRP) wallet that offers two-factor authentication (2FA). For those unaware, this adds an extra layer of security on your Ripple wallet – as you will be required to enter a unique code on each login attempt.

The code will either be sent to your mobile phone via SMS or obtainable through the Google Authenticator app. In theory, this means that even if somebody was able to obtain your Ripple wallet password or PIN, access would still not be possible unless they were in possession of your mobile device.

IP and Device Whitelisting

Another top security feature offered by the best Ripple wallets UK is that of whitelisting. This often comes in two forms. First, you have IP address whitelisting,. which will require you to go through an extra security step when you attempt to access your wallet from a new WiFi location.

Second, you have device whitelisting – which requires an additional confirmation step when you access the Ripple wallet from a mobile phone or desktop computer that hasn’t previously been used.

Custodial or Non-Custodial

You then need to consider whether your chosen Ripple storage facility is a custodial or non-custodial wallet.

For those unaware of these terms, see the below:

• Custodial: This Ripple wallet type will see you take 100% control over your XRP tokens. This is because you, and only you, will have access to your wallet’s private keys.
• Non-Custodial: If your XRP wallet is non-custodial, this means that a third-party will look after your private keys for you. This will usually be the exchange or broker that you purchased the XRP tokens from.

The wallet type that you opt for will ultimately depend on whether or not you want to have the burden of safeguarding your private keys.

Device Type

Ripple wallets can be accessed across many device types. This includes wallets that are managed through a web browser, mobile app, desktop software, or a hardware device. Each Ripple wallet type comes with varying levels of security and convenience – which we briefly touch on below.

• Web Wallet: If you buy XRP from an exchange or broker, you will usually have the option of keeping the tokens within the provider’s web wallet. This is arguably the most convenient option, as you simply need to log in to your account to access your funds. However, if the exchange or broker is hacked remotely, your XRP tokens are at risk of theft.
• Mobile App: One of the best storage options you have is to keep your XRP tokens within a mobile wallet. You can usually download the wallet to an Android or iOS device via a mobile app. You will benefit from security features like fingerprint ID and 2FA, alongside the convenience of having access to your XRP tokens at the click of a button.
• Desktop Wallet: This Ripple wallet type is useful if you want to connect directly to the blockchain. Although desktop wallets are safe when the correct security protocols are followed, you do run the risk of suffering a remote hack. As such, this option is best suited for those with knowledge of wallet security.
• Hardware Wallet: Hardware wallets are by far the most secure way of storing your XRP tokens. The tokens will be kept offline at all times and are safely stored within a physical device. The only time you need to communicate with the blockchain is when you decide to send XRP tokens to another wallet. Even if your hardware wallet is lost or stolen, you can still recover the digital funds via a backup passphrase.

We should note that the best Ripple wallets in the UK are compatible with various device types that are linked to one another. For example, you might be able to access your digital funds through both a mobile app and a web wallet.

Fees

We don’t really need to go into too much detail regarding fees, as virtually all Ripple wallets in the UK are free to use. Perhaps the main exception to this rule is a hardware wallet.

This is because you will need to purchase the physical device from the manufacturer in question. Other than that, it’s generally free to store your Ripple tokens in a wallet – irrespective of the device type.

Features

We found that the best UK Ripple wallets offer features in addition to just storage.

This is inclusive of:

Buy and Sell Crypto

The best XRP wallets in the UK allow you to buy and sell digital tokens through a single hub. For example, if you elect to download the eToro wallet app, you can access over 120 digital currencies.

These crypto-assets can be purchased in real-time with a debit/credit card or e-wallet – which is super-convenient. After all, it avoids the need to visit a third-party broker or exchange to buy your chosen cryptocurrency and then manually transfer the tokens to your wallet.

Convert Crypto

It’s also handy when your chosen Ripple wallet provider offers a one-click conversion tool. This enables you to swap one digital token into another without leaving the wallet. For instance, you might want to swap XRP into Bitcoin, or Ethereum into Litecoin.

Real-Time Portfolio

The cryptocurrency markets can move at an incredibly fast pace, so it’s best to keep tabs on how your investments are performing on a regular basis. As such, the best Ripple wallets in the UK offer real-time portfolio management.

All you need to do is open the wallet and you should be able to view an approximate valuation of your XRP tokens in terms of pounds and pence.

dApps

Some XRP wallets also give you direct access to third-party dApps (decentralized applications). For instance, the Trust Wallet – which is backed by Binance, allows you to connect to Pancakeswap. This is a DEX that allows you to buy, sell, and trade hundreds of digital currencies without using a third-party intermediary.

Supported Cryptocurrencies

On the one hand, you are here reading this guide because you are looking for the best Ripple wallets in the UK. However, you might also be in possession of other digital tokens – such as Bitcoin, EOS, or AAVE. Either way, if you have a collection of different digital assets – it’s wise to choose a wallet that allows you to store all of them in one safe place.

Otherwise, you will need to manually manage multiple wallets – which can cumbersome. This is another reason why we think that eToro offers the best Ripple wallet in the UK – not least because it supports over 120 cryptocurrencies.

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How to Get Started With the Best XRP Wallet UK

To conclude this guide, we are now going to show you how to get started with the best Ripple wallet in the UK – eToro. The walkthrough below takes you through the steps of opening and verifying an account, downloading the eToro wallet, and finally – adding some XRP tokens.

Step 1: Open a Cryptocurrency Account

By choosing eToro as your go-to Ripple wallet provider – you will be using an entity that is authorized and regulated by the FCA. This is great, as you can be sure that your XRP tokens remain safe at all times. With that said, a major stipulation of the FCA is that all users must open an account and verify their identity.

This should only take you a few minutes at eToro – as the account opening procedure is super easy. All you need to do is enter some personal information alongside your contact details. After choosing a username and password, you will then need to verify your mobile number.

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Step 2: Complete KYC Process

The KYC (Know Your Customer) process at eToro is also fast and easy. For this, you simply need to upload a copy of your:

• Passport or driver’s license
• Proof of address (e.g. utility bill or bank account statement)

You won’t need to hang around for the documents to be manually validated – as eToro does this instantly via automated KYC technology.

Step 3: Download eToro Ripple Wallet

You can now proceed to download the eToro Ripple wallet to your iOS or Android device. Although you will find the wallet in the Google Play and App Stores, it’s best to complete the download directly from the eToro website.

This will ensure that you have downloaded the official application and not an imitation. Once installed, open the app and log in with the username and password that you created in Step 1.

Step 4: Add Ripple to eToro Wallet

As you have just downloaded and installed the eToro wallet – it will, of course, be empty. As such, you now need to add some XRP tokens. For this, you have two options and the one you select will depend on whether or not you currently have some XRP tokens stored elsewhere.

For instance, if you have XRP tokens in another wallet, you can transfer them over to eToro. You simply need to copy your unique public address from the eToro app and paste it into your other wallet. Then, confirm the transaction and the XRP tokens should appear in your eToro wallet in less than 10 minutes.

If you do not own any XRP tokens at present – you can purchase some directly from within the eToro wallet app. All you need to do is:

• Deposit funds into your eToro account with a debit/credit card, e-wallet, or bank account transfer
• Search for XRP and click on the ‘Trade’ button
• Enter the amount of XRP tokens you wish to buy
• Confirm the order

Once confirmed, eToro will automatically add the XRP tokens to your XRP wallet app!

Best UK Ripple (XRP) Wallet – Conclusion

This comprehensive guide has covered everything there is to know when choosing the best Ripple wallet UK for you. This includes key features to look out for – such as safety, supported cryptocurrencies, device types, and investment features. We have also reviewed the best Ripple wallets in the UK for 2021 and concluded that eToro stands out from the crowd.

The brokerage behind the eToro wallet is authorized and regulated by the FCA, so you know that you are using a legitimate platform. In addition to XRP, this Ripple wallet also supports 120+ other cryptocurrencies and 500+ trading pairs. We also like the eToro wallet as it allows you to buy, sell,and trade digital currencies without leaving the app!

eToro – Best Ripple (XRP) Wallet UK