How To Set Up A Ripple (XRP) Wallet

Mar 05, 2020
14:03
2 min reading

Choise.com team

Since XRP is one of the most promising cryptocurrencies out there, there are plenty of reasons why you might want to create a XRP wallet. If you’re looking for a quick tutorial on how to set up a XRP wallet, you’ve come to the right place.

XRP is a digital currency employed for sourcing liquidity across the RippleNet — a network of global financial institutions and payment providers. XRP is the vehicle used to offer instant and affordable cross-border transactions for all network members.

Apart from being a reliable value transfer mechanism, XRP is also a good investment. The all-time Return On Investment (ROI) of XRP is close to 4000%. The XRP price predictions are currently pointing at least a $1.5 valuation per unit. While this number might not sound very appealing, it’s a long way from the current value of about $0.25.

Setting Up XRP Wallet

In this guide, we’ll focus on the few steps required to create a XRP wallet on Crypterium. Unlike other balances on the Crypterium Wallet, like Bitcoin or Ethereum, the XRP wallet isn’t set by default. That said, here’s how to activate it:

#1 Sign up for XRP wallet

The first thing you have to do is sign up for a cryptocurrency wallet that supports XRP. If you already have a Crypterium Wallet account, launch the mobile on your iOS or Android. Alternatively, you can also use our Crypterium Web version.

#2 Activate your XRP wallet

As previously mentioned, the XRP wallet isn’t set by default. In other words, you’ll need to confirm your intention to use it. To get started, click on “Show all wallets” and press “XRP”.

#3 Create XRP address & tag

Now it’s time to confirm your desire. Click on “Create Wallet Address” and wait a few seconds while we make magic happen… Ok, that’s enough. Your wallet is ready!

Looking at your XRP address, you will notice something that isn’t exactly familiar. XRP wallets consist of two elements: a wallet address and a destination tag.

A destination tag, also known as XRP tag, is a unique 9-digit figure linked to each XRP wallet. This tag is used to identify the receiver of a transaction. When sending or receiving funds in XRP, make sure to provide both the wallet address and destination tag.

#4 Share your XRP address

With Crypterium, sharing your XRP wallet address and tag is really easy. Tap on both to copy or click on “Share” to send details to your friends and family.

#5 Fund your XRP wallet

There are several options to fund your XRP wallet. You can either receive XRP from an external wallet, exchange another cryptocurrency to XRP, or buy XRP with your debit or credit card straight from the Crypterium Wallet.

You can buy XRP by clicking on “Buy crypto”, entering your debit/credit card number and the desired amount. Yes, that simple.

We believe Crypterium is the best Ripple wallet as it offers you a single-access solution to store, buy, cash out, exchange and spend your XRP anytime, anywhere. But again, that’s our opinion.

If you would like to explore other XRP wallets, here’s a list of the best Ripple XRP wallets. It’s okay, no hard feelings.

By the way, our 24/7 support team is always happy to answer your question. You can reach them anytime at support@crypterium.com or using our in-app chat.