Rippex Wallet Review
Ripple has grown to be one of the strongest cryptocurrencies on the market today. But, before you rush out to buy it, bear in mind that you need a secure wallet to store it. But, considering that there are so many wallets out there, how do you know which is right for you?
With that in mind, we’ve created this Rippex review. Is the Rippex wallet your best choice? Read on, and you’ll find out.
The Rippex Project is Closed
The development team has closed the project down. That means that unless you can find the software from a reliable source, you can’t open a new wallet. If you have an existing wallet, you can still use it. The Web-based wallet is no longer available.
It says a lot for this wallet that users still make use of it. That is, despite the app no longer having support of developers.
What is a Rippex Wallet?
Rippex offers users a digital wallet to hold Ripple XRP in. It’s called a desktop wallet because you can store it on your computer, rather than just online. It’s an enhanced version of Ripple’s Desktop Wallet. The code is open source, so if you can think of ways to improve it, go ahead.
You can use it on Mac, Windows, or Linux PCs. It’s primarily designed to hold XRP, but it does have cross-currency capabilities. These capabilities make it far easier to do transactions.
Why is the Desktop Wallet Feature Important?
Most digital wallets are web-based, but Rippex is not. You can still access your wallet offline. Naturally, though, you need to ensure that your computer has protection against hackers. Your safest bet is to store the wallet on a secure device or to keep it offline.
How Easy is it to Install?
Extremely easy. If you have a legitimate copy of the installation software, just let it run. You’ll need to add 20XRP to make the wallet active.
Is it Easy to Use?
It’s extremely easy, and that’s one of the reasons that people still keep it active. It offers intuitive operation that even technophobes find simple. Here are some of the functions you’ll use.
It’s simple enough – navigate to the section concerned, input the payment details, where the money is going to, and how much you’re sending. Rippex supports a range of fiat currencies, so check to see if your country’s currency is supported.
Presently, the fees for sending currency remain fixed. It will cost you at least five Ripples to transact, depending on the nature of the transaction.
Make it More Secure
With Rippex, you can create a secure password, displayed only once the wallet is encrypted. You can, if you prefer, create a transaction offline and then upload it later to allow you to minimize the time you spend online.
Transactions go through the Ripple blockchain. Unlike Bitcoin, it doesn’t operate on a proof of work model. Instead, the company designed proprietary verification procedures, which means that it controls how long an authorization takes.
The downside of the developers having dropped this project is that there’s no support from their side. You can scout around online for advice from other users, though. The lack of support is a real shame because this was arguably one of the most successful Ripple wallets.
Still, there’s plenty of advice on the web about it. So, if you do have a question, you’re bound to find the answer quite quickly.
What to Use Instead?
Ripple has moved on from this project. Its newest wallet is called Toast. According to the development team, it offers everything that the old wallet did and a lot more besides.
Pros and Cons
- Easy to use
- Allows you to store and protect your private key securely
- Can be used offline
- Each wallet has its address
- Offers multiple fiat currencies
- No longer supported by developers
- Fees can work out quite steep considering you’re getting no support
The Final Verdict
There’s no question that the Rippex wallet was great in its heyday. It still performs admirably well by today’s standards. We like the fact that you can store your wallet offline as well. The intuitive design makes it very simple to operate.
That said, unless you already had it installed, we’d look for other options. Even if you did have it installed, we recommend the same. No developer support means that there will be no upgrades or patches issued. These wallets will become obsolete before long.