Toast Wallet – cross-platform wallet for Ripple

The Ripple cryptocurrency, despite all its popularity, has not acquired an official wallet for storing tokens. Therefore, users are looking for reliable options where they can keep network coins. We offer a full review of Toast Wallet, a convenient wallet that can be installed on both computers and mobile devices.

Table of Contents

• Toast Wallet - instructions in Russian for dummies Toast Wallet how to register

Content

• What is a local Ripple wallet, its pros and cons
• Toast Wallet - installation instructions
• What happened to the Rippex wallet?
• How to keep your local wallet secure
• Ripple Local Wallet Alternatives

Ripple desktop wallet is a storage for cryptocurrency, which is a program for installation on a PC for subsequent work with virtual coins via the Internet. All wallets are classified into two types - “cold” and “hot”. The former can work without connecting to the Internet, while for the latter this condition is mandatory. Local wallets are considered “hot” and need to be connected to the World Wide Web. The question is which program to choose, how to configure it, and what rules to follow to ensure security.

Possible problems

If you send tokens to another address and receive an error in response, then the address to which you are transferring coins may be inactive. To activate it, you need to send at least 20 XRP to it, which will be frozen as collateral. You can check the address status using the RPC Tool.

Also, if you have problems sending coins, you can try updating your wallet to the latest version - sometimes it helps. If the balance shows an empty balance, there may be problems with connecting to the network. In this case, you need to close the application and log into it again. In some cases, when problematic situations arise, completely reinstalling the wallet helps.

What is a local Ripple wallet, its pros and cons

Desktop (local) storages are special programs that are downloaded and installed on a computer for subsequent use of cryptocurrency. They come in two types - “thin” and “thick”. In the latter case, the wallet contains complete information from the network about completed transactions, which requires a lot of space on the PC’s hard drive. In the situation with “thin” wallets, information about transactions in the cryptocurrency network is not downloaded. Thanks to this feature, the program has lower requirements for free space, but the level of security is reduced.

The local Ripple wallet is considered a suitable option in terms of security and ease of use. Such wallets are equally popular among beginners and experienced cryptocurrency holders. The downside is that the choice of PC programs that allow you to store XRP is limited today. Until recently, the Ripple Desktop Wallet called Rippex was in demand, but in early February the developer announced the closure of the official product.

We summarize the advantages and disadvantages of desktop (local) Ripple wallets in a table:

Advantages and Disadvantages of TW

4 years on the market, smooth and systematic development have allowed the digital asset wallet to become one of the most popular mobile applications. Among the main advantages, it is worth highlighting the following:

• the ability to quickly send funds to any platform, for example, to the Uniswap cryptocurrency exchange, about which much has been written on www.gq-blog.com for more detailed information;
• receiving passive income through staking;
• having its own token, which not every company can boast of;
• support for different currencies;
• the user controls his own keys;
• clear and intuitive interface.

However, there are some minor imperfections, and my readers should be aware of them as well.

1. Security is lower than hardware wallets as there is no built-in two-factor authentication feature.
2. No version for Linux and Windows.
3. Support for coins exclusively from two blockchains: Ethereum and Bitcoin, and only those currencies that are traded on the Binance exchange.

I would like to draw your attention to the fact that the administration of the wallet motivates you to participate in the affiliate program, and for each new client you can receive 100 TWT, and if you have more than 500 tokens in your account, you will receive rewards every month. In general, the wallet takes into account all the requests and interests of investors, traders, miners and is easy to use. Plus - the possibility of passive income and good security. At the end of the material, I would like to wish all readers an extremely positive experience of cooperation with such an application and frequent “crypto goodies”.

Author Ganesa K.

A professional investor with 5 years of experience working with various financial instruments, runs his own blog and advises investors. Own effective methods and information support for investments.

Toast Wallet - local wallet for Ripple, installation instructions

When choosing local storage, XRP owners are increasingly choosing the Toast Wallet. The developers managed to create a multi-platform Ripple Desktop wallet. The wallet is used for MAC, Windows, and also Linux. In addition, there are application options for installation on a mobile phone with an Android or iOS operating system.

The peculiarity of Toast Wallet is that it is a “thin” wallet that does not download all the information from the cryptocurrency network and does not require much space on the PC. As a result, it installs quickly and does not slow down during operation.

Installation rules

To install a local Ripple wallet on your computer, you need to take the following steps:

1. Go to the official storage website (toastwallet.com), select the version for your operating system (most often Windows) and download the client. As for the program option, it is recommended to choose Portable (the optimal solution in terms of functionality and reliability).
2. We wait for the download and install the program.
3. We launch Toast Wallet and make a new wallet. To do this, follow the link (“Create a new wallet”).
4. We come up with and remember a new PIN code consisting of six digits. This PIN is then used to log into the application, which allows you to quickly get to your personal account.
5. We are coming up with a code phrase that will be used in the future to confirm important transactions with cryptocurrency. The wallet may request the mentioned “code” when transferring money anywhere. To be reliable, the coined phrase must contain numbers and letters of different registers (the storage also requires this). We record it on a separate medium that is inaccessible to outsiders. If lost, difficulties arise in restoring access to money.
6. We get six words that will be used to gain access to cryptocurrency. In fact, whoever has such a phrase at his disposal has full access to money.
7. We make a decision whether to donate money to the development of the project or not. You can skip this section and click on the “Not this time” button.

Next, the system transfers the new user to the program interface, where you need to create a new account (Ripple desktop wallet). Click on the Add account button, after which we enter the nickname and code phrase mentioned above. The last stage of installation is registration, for which you need to click on the “Import new address” button. Finally, the system suggests making a backup (storage image), which will be in the form of txt (if you open the document, it will contain only crappy stuff). It is recommended to copy the information from the file and transfer it to a safe place, for example, to a memory card that you do not use on other people’s PCs.

Rules for using the Toast local wallet

To get 100% use out of Toast Wallet, it is important to know its features. The interface provides the following buttons:

• “Home” (bottom left). Clicking it takes the user to the main page.
• "$" (bottom center). When clicking on this button, the owner of the cryptocurrency is directed to a page for withdrawing virtual coins to another user. In the open tab you need to specify the address, total transaction volume and destination tag (if required).
• “Settings” (looks like a wheel with teeth). The icon is located at the bottom right of the window. When clicking on the link, the user has access to changing the password, creating a new wallet, backup storage and other options (most of them are not applicable).
• Personal address (top left). This is the main information for the owner of a cryptocurrency. It is at this address that transactions to the wallet are carried out. A history of online transactions is also available.

When using Toast Wallet you should consider the following:

1. To enter the program you need to launch it and enter a six-digit PIN.
2. To find out the address, just click on it to copy.
3. To withdraw XRP you need to click on the dollar symbol.
4. To assign an address, your account must have at least 20 Ripple. 20 coins are frozen and cannot be exchanged. This is why the first deposit must exceed the specified threshold. Against the background of the rising cost of virtual coins, the developers promised to lower this limit, but so far it is at this level. If you ignore the recommendation, the wallet will not be activated.
5. Toast Wallet is free, and the developers assure that it will remain so in the future.
6. The user's personal information is not sent to the storage developer's servers. The only connection is connected to the Ripple network.
7. If you lose your code, you will need a recovery phrase to gain access to your money.
8. In case of transactions, at least 20 XRP must remain in the account. This is reserve money that is prohibited from being spent. The rule applies not only to Toast Wallet, but to other wallets.
9. The recovery phrase can be used to reset your PIN.
10. If the user has forgotten the mentioned phrase, it will no longer be possible to gain access to the money. This is why it is recommended to record this information in a separate place.
11. After installing Toast Wallet, it is recommended to top up your account with 21 XRP, and then conduct a test transaction for 1 coin.
12. If necessary, local wallet accounts on different devices can be synchronized.
13. You can use Toast Wallet to make a paper wallet for someone else. This requires you to create a new address and then import it into your wallet, ignoring the backup request. Now we find the new address on the screen, click on it and click on “Secret”. Next, enter the code phrase and copy the address onto paper.

What happened to the local Ripple wallet Rippex?

When choosing a wallet, I often came across reviews of the Ripple desktop wallet called Rippex. For many users, this was one of the best storage options in terms of reliability and stability. It was suitable for different operating systems, had a high level of security and speed. Despite the lack of Russian translation in the personal account, the owner of XRP was singled out for this particular wallet.

On February 2, 2022, news appeared that Rippex was winding down its activities. The program developers posted the news on the official website with a program closure schedule so that cryptocurrency owners have time to withdraw money from their wallet balances. The creators assure that there is no threat of bankruptcy, so there is no need to worry about savings at the time of termination of activity.

Over the next two months, the local Rippex wallet will remain operational, and the closure schedule is as follows:

• From the beginning of January to the end of February, owners are given time to withdraw their existing cryptocurrency. From the beginning of March, deposits are no longer accepted, but money can still be withdrawn.
• From January 1 to April 1, 2022, it is only possible to withdraw money using Rippex. User requests are processed once a week.
• On April 2, the third phase begins, during which all funds in wallets are frozen and transactions are not accepted. Ideally, by this date, all users of the funds should solve the problems and withdraw money.

The creators of the repository assure that until April 2, 2022, all obligations to clients will be fulfilled in full.

DApps in Trust Wallet

Trust Valet has a built-in browser for working with decentralized applications: games, exchanges, lending platforms, marketplaces, etc. It is a full-fledged WEB3 browser that provides a seamless and secure connection between the user, the Etherium network and decentralized applications (DApps). The interface is fully optimized for mobile devices.

Trust Wallet collaborates with developers to provide users with the maximum selection of decentralized applications available. All applications that are on the list have been tested and adapted for the Trust Wallet wallet. The list is updated regularly. A simple API is provided for developers, which currently allows them to work with accounts and transactions for different blockchains and on different platforms.

The most popular thing today is the ability to connect to certain types of applications with your own tokens for farming and staking both the platform tokens themselves and new project tokens.

How to keep your local Ripple wallet secure?

No matter how reliable a wallet for storing cryptocurrency may seem, the protection of funds directly depends on its owner and the ability to adhere to security rules. The reality is that in order to protect personal savings in a virtual wallet, it is important to follow two simple rules - keep personal information “behind your teeth” and securely close access to the wallet.

Here are the instructions for Ripple desktop wallet for protecting savings in a virtual wallet:

• Use strong passwords that are difficult to crack.
  According to statistics, 60-70 percent of successful attacks occur due to the use of simple passwords, phrases or words that are easy to guess. As a rule, people use identical codes on different sites, which opens up access to money for criminals. If you don't trust your memory, you should use a password manager.
• Be careful with links.
  One of the ways to lure out personal information is by sending users special links, upon clicking which the person (without knowing it) opens access to their records. To avoid problems, you should not open files and attachments that arrive in your mailbox from strangers.
• Install 2-factor authentication.
  In many XRP and other cryptocurrency wallets, enabling 2-factor authentication is considered the main security requirement. It is important that this format does not provide for access via SMS message. It would not be difficult for an experienced attacker to redirect a message from one phone to another in order to bypass the existing protection. The best solution is to use Google Authenticator or a hardware key.
• Use Wi-Fi wisely.
  Wireless networks have made life much easier for global network users. At the same time, additional risks emerged. To protect your wallet, it is prohibited to register on important sites using “foreign” or public Wi-Fi. Otherwise, the risk of losing personal information increases, which makes hacking easier for attackers.
• Choose names.
  When using e-mail or logins, try not to mention words in them that could trigger identity recognition. It is also important to exercise extreme caution when transmitting information online.

TWT Token

information about the Trust Wallet Token
Trust Wallet Token (TWT) is a utility token that can only be used within this application. Necessary to further stimulate wallet users, as well as to increase their awareness.

What does owning TWT give you:

• Discounts on cryptocurrency purchases and DEX services.
• Access to the collectible token market.
• Participation in decision making on adding new tokens and functions.
• Reviews and promotions of DApps to support DApps developers to further the adoption of Web 3.0 on mobile devices.
• Affiliate and Bonus Rewards Specifically, the token can be converted into BNB or ETH and used to pay network fees.
• User reputation.

Tokens can be transferred to other users or exchanged. It is supported by any wallet that supports the Binance blockchain (the token standard is BEP2). But it is not yet listed on exchanges, and whether it will be in the future depends on the desires of users.

Ripple Local Wallet Alternatives

Desktop wallets are not the only option for storing XRP. The user has a number of options at his disposal:

• Online wallets
  - provide for storing cryptocurrency on a third-party platform (exchange or special service). Popular options are Gatehub, Cryptonator, BitGo and others. Advantages: quick registration, ease of use for beginners, ability to access your wallet from anywhere in the world.
• Mobile wallets
  are special programs that are installed on your phone. Convenience lies in ease of installation and use, access to the wallet from any place where there is a network connection. Representatives: Toast Wallet (mobile version) and Dice Willet.
• Hardware wallets
  are special devices designed to store cryptocurrency. Pros: maximum protection and the ability to always have money with you. Examples are Ledger Nano S and Ledger Blue.
• A paper wallet
  is a means for “cold” storage of cryptocurrency on paper. The advantage is a high level of reliability and no risk of personal data theft over the Internet.

Despite the abundance of options, users often choose desktop storage for Ripple. Their advantages are wide functionality and an optimal level of protection from intruders. The downside is that the choice of options is limited and you have to make do with a limited number of programs.

Source: tehnoobzor.com

Collections in the Trust Wallet crypto wallet

Collectible digital assets (most often ERC721 and ERC1155 tokens) are usually either highly limited in quantity or unique. These are a kind of valuables in digital form, as in real life - paintings by famous artists or collectible figurines of characters from comics and games.

Crypto assets of this kind usually represent real objects - from works of art to pets. There are restrictions on the number of tokens generated. Trust Wallet provides an easy way to safely store such assets. Tokens are associated with a public address and are protected by blockchain means. Some examples of objects have become quite popular in recent years - CryptoKitties, Decentraland, CryptoPunks, etc.