Are you looking for a safe place where you can securely store your XRP? Obviously, you need a reliable Ripple wallet, which will do that. However, storing money is not the only thing that an XRP wallet needs to do.
Every Ripple owner wants their funds to be safe. In fact, every cryptocurrency owner pays a lot of attention to the safety of the coins they own. If you happen to have Ripple, then you can rest assured that the XRP Ripple wallet that we’re going to present here will satisfy your needs.
We’re talking about WLX. Essentially, it’s a crypto-fiat wallet that also accepts XRP. It’s safe to call it an online Ripple wallet, as it’s a type of hot wallet that’s available for desktop computers.
Apart from being able to store Ripple, WLX can also help you send and receive this cryptocurrency, as well as several other cryptos. Moreover, you have an opportunity to use the wallet to exchange your currency conveniently, as the wallet features a user-friendly interface that’s designed to suit both complete beginners and experienced professionals.
Therefore, if you’re looking for the best Ripple wallet, WLX is definitely an option you should consider. But before you open an account, make sure to read this text carefully in order to find out more about WLX and how it works.
How Is WLX XRP Wallet Different from Other Wallets?
The first thing you should know is that WLX is an ultimate Ripple online wallet that accepts not only XRP but also other cryptocurrencies. In other words, if you have Bitcoin, Litecoin, or even Ethereum, you will be able to use WLX and store all of them safely.
On top of that, WLX also supports several fiat currencies. Therefore, it works as a sort of e- wallet, similar to the popular ones such as PayPal or Skrill. Right now, it accepts USD, GBP, and EUR.
But what really makes WLX stand out from the crowd is security. Simply put, the amount of energy the team behind WLX has put into their product is immense. They made sure that the wallet is virtually impenetrable and that users can store their funds without worrying about possible cyberattacks.
As you probably know, every official Ripple wallet needs to keep the safety and security levels at the maximum at all times. What does this mean?
It means that the team behind the wallet should test the security levels and make frequent updates to protect the funds from hackers and other kinds of cybercriminals. If you’re interested in how security works with WLX, read on!
XRP Ripple Wallet Security — Everything You Need to Know
Security matters. Especially when it comes to novel technologies such as blockchain and, subsequently, cryptocurrencies. Although crypto coins are secure by design, wallets still need to take additional effort to make users’ funds safe.
WLX has adopted some of the cutting-edge techniques for enhancing security. Let’s make a quick overview of what they are and how they work in practice.
Internal Risk Monitoring Mechanism
Risk comes in all shapes and sizes, and it’s present in every wallet for XRP. The team behind WLX makes sure that the risk is kept to a minimum with a unique internal risk monitoring mechanism. In a way, it can predict when there’s a danger ahead so that the team can act and prevent it.
Penetration testing is one of the ways to prevent cyberattacks before they happen. One of the reasons why WLX is considered the best XRP wallet is that penetration testing takes place frequently.
What does penetration testing actually look like? It’s basically an imitation of a cyberattack. This is a way to test the security of the wallet. In other words, by simulating an attack, security specialists are able to see what the weak spots are and make sure to enhance protection mechanisms in that area.
Security testing is pretty self-explanatory. WLX is tested to see how good its security measures are.
Data that you store on the wallet, including sensitive data, personal info, transaction data — everything is encrypted in WLX. The nature of cryptocurrencies is such that the majority of transaction data is already encrypted, but WLX made sure to encrypt other data regarding its users in order to achieve maximum safety.
Internal and External Audits
Audits are an important part of WLX, as they make sure that there are no illegal operations going on, and that everything is in order.
How to Set Up a Ripple Wallet Account on WLX
WLX is a free Ripple wallet, and it’s very easy to install and use. If you’re not sure how to do it, feel free to read the guide that we will present in this part of the article. This is a step-by-step guide that should help you with the registration process.
Download the WLX Ripple Wallet
The first step is to download the official WLX Ripple wallet desktop application. You can find it on the WLX site with additional instructions on how to download it.
Install the Wallet
The next step is to click on the installation icon on your computer and start the setup process. This is probably a familiar procedure to you.
Open an Account
Opening an account requires you to enter some details such as your phone number, residential address, and more. All of the things you enter are encrypted and stored on the wallet, and nobody can access them except for you.
Create a Passcode
A passcode is a simple 4-digit code, that you’ll have to set as a sort of password to log in to your wallet and be able to use it.
A Short History of Ripple as a Cryptocurrency
Ripple is not only a cryptocurrency. Instead, it’s much more than that – an entire company that focuses on providing fast payments and money transactions around the globe. The company is actually called Ripple Labs Inc. and a network called Ripple is its main product. As a native network currency, XRP was created.
Ever since it was created, Ripple has attracted the attention of many banks which see an opportunity to upgrade their offers with this payment system. Although Ripple as a network has a huge potential, it still has a couple of challenges along the way. Many banks are not yet ready to fully commit to the way Ripple works. Nevertheless, the company keeps extending the list of partners, and all of that positively affects its cryptocurrency — XRP.
Right now, XRP is the third-largest coin when it comes to the total market cap, right after Bitcoin and Ethereum. Although it’s still nowhere near the two top cryptos, it’s on a good way to become even more popular. If the network continues to expand, we can even expect XRP to overtake BTC in the future. However, that’s not possible to predict in any way.
Unlike BTC or ETH, XRP is not expensive. In fact, the highest you had to pay for a single unit of XRP was back in January 2018, when the price was approximately $3.47 per unit.
Conclusion: Get Your Wallet for Free
If you want to store your XRP right away, feel free to download WLX. If there’s a single wallet Ripple fits in perfectly, it’s definitely this one, as it comes with great security, beginner-friendly interface, smooth design, and much more.
One of the biggest advantages of WLX is that it’s actually a multi-cryptocurrency wallet, meaning you can store other cryptos apart from Ripple. Moreover, the team behind this piece of software decided to take a big step forward and offer WLX as a wallet for fiat currencies as well.
In a way, you can consider WLX as an ultimate online wallet where you can store all the most popular cryptos and fiat currencies. The best part is — the team might even add more options in the future.
If you use XRP, you will be able to store it in WLX in just a couple of steps. Once it’s there, you will have an opportunity to use the wallet to make transactions, online purchases, etc. Moreover, you will be able to use the wallet as an exchange and obtain other cryptocurrencies quickly and with minimal fees. Feel free to install this free app now and test it right away.