As stated in the title, I want to buy XRP and transfer it to a secure Hardware Wallet. I do not plan to use it to buy things, or to actively trade it. This is for a long term (5yr+) investment…trouble is, I am not sure how to do this. I realize I don’t want to leave my XRP on a host site and that a Hardware Wallet is the most secure thing for holding your XRP.
Do I purchase XRP through GateHub or similar host and then have the option to transfer from my account with them to a Hardware Wallet? I can’t find any answer on this matter or perhaps I am just not understanding the “transfer wallets” discussions.
Can a Hardware Wallet simply be a USB Flash Drive or does it need to be something like a Ledger Wallet?
A hardware wallet is a dedicated device with special security features which ensure that your private keys can’t be copied / stolen from the device. USB sticks don’t have any of these features and even storing your private keys within an encrypted file on a USB stick is nowhere near as secure as a proper hardware wallet.
As the Trezor doesn’t currently support Ripple, I’d suggest a Ledger hardware wallet instead. The Nano S model is very popular. For more details on it, please see our review of it here:
The Ledger Nano S has a Chrome plugin which functions as a wallet for your Ripple. If you follow the instructions on the Ledger site, it’s very hard to go wrong and your Ripple should be secure over the long term.
Please login or Register to submit your answer