Rippex Wallet Review
Nowadays, Ripple (XRP) is one of the top five cryptocurrencies on the market, third by market capitalization. The coin is especially lucrative for companies that often have to make cross-border payments and move large sums of money internationally. To use their services, you need to own XRP.
That being said, you also need a designated wallet to store these coins once purchased. You need a digital and highly secure wallet such as Rippex. This guide explores its features, advantages, and potential shortcomings. By the end of our review, you’ll be able to decide whether Rippex is the right choice for you.
The Rippex Project Is Closed
Unfortunately, Ripple’s development team has terminated the Rippex project. What do we mean by this? Unless you can somehow obtain a copy of the software from reliable sources and install it on your computer, you can no longer download the app and create a new wallet.
On the other hand, if you’ve been using Rippex for a while now and have an open account on the platform, you’ll still be able to use it, except for the web-based wallet that has been shut down for good. However, the fact that many users still cling to this wallet even though Ripple’s team doesn’t support it anymore speaks volumes for its usefulness and efficiency.
What Is a Rippex Wallet?
Just like any other digital wallet, Rippex was designed to store digital coins. Although the wallet allows traders to make cross-currency conversions, it was initially created for storing XRP exclusively. Rippex is a desktop wallet, so you had to download the whole software to your computer. It can be accessed on Windows, Mac, and Linux.
As open-source software, Rippex was distributed freely with its source code available for modification. Developers who thought they could improve the wallet’s specifications were encouraged to try.
Why Is the Desktop Wallet Feature Important?
The majority of electronic wallets can be accessed online, i.e. they’re web-based. This is no longer the case with Rippex. The best option would’ve been to install the software on a computer that has never been online because there’s no way for a hacker to track your address and steal your coins, or for a virus to attack your computer.
How Easy Is It to Install?
If you had an authorized software copy and were to install it now, it would be super easy to do it. You’d just follow a few simple steps, launch the app, and create a wallet providing all the necessary personal details to verify your identity. Then, you’d be required to deposit 20 XRP in order to activate the wallet.
Is it Easy to Use?
One of the main reasons why Rippex has remained popular with traders even after its official close-down is because it’s designed to be user-friendly. You don’t need to be an expert in crypto trading to get your way around it. The clutter-free dashboard and simple content make Rippex appealing to crypto novices as well.
To make a payment, simply go to the payment section, fill in the receiver info and the amount of XRP you’re sending. You can also send fiat currencies just make sure to check beforehand if Rippex supports the one you need. As far as fees are concerned, it shouldn’t cost you more than 5 XRP per transaction.
Rippex’s Security Measures
Rippex used to be one of the most secure digital wallets. First of all, when you create your wallet, Rippex assigns a strong password, i.e. a private key, to your wallet that the app will only show to you once before encrypting the wallet’s address.
Traders normally spend quite some time online to be able to provide all the information before sending a new transaction. Imagine if you wanted to send ten or fifteen of them at the same time! During this time your computer could become the target of some malware. To avoid such risks, Rippex allowed traders to complete everything offline, and then sign in online to hit the send button only.
The main downside of this wallet is that it doesn’t enjoy the developers’ help and support anymore. If you still use this wallet and you have any queries or experience some problems your only help will be old user reviews on online forums. These discussions were quite popular back in the day, so you should find your answer with ease.
What to Use Instead?
The team of developers over at Ripple has created a new digital wallet for storing XRP, called Toast. The user reviews have been highly positive, while the company claims that Toast offers everything that Rippex does and more! One key advantage is that Toast can be used on mobile devices too.
Rippex Pros and Cons
- It’s user-friendly.
- Protects your encrypted address (private key).
- You can use it offline.
- Supports a number of cryptocurrencies.
- It has been closed down for online use.
- It’s no longer supported by Ripple’s development team.
The Final Verdict
Rippex’s supremacy among digital wallets worldwide can’t be argued against. Its simplistic design, impeccable performance, and top-notch security methods definitely deserve some acknowledgment.
However, we also can’t overlook the fact that the golden days of Rippex are over. For one thing, Ripple has already moved on to other projects. We recommend switching to a newer digital wallet, one that will be upgraded constantly, as Rippex will inevitably become irrelevant and fail to stand the test of time.
Disclaimer: Digital currencies and cryptocurrencies are volatile and can involve a lot of risk. Their prices and performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.