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The issue of liquidity while making trans-boarder transactions between various parties has been one that many stakeholders have eliminated. With the inauguration of the blockchain as a futuristic approach to handling payments, this has been made possible through Ripple.
As an investor or user of the ideal real-time global payment cryptocurrency system, you certainly do not want to be left out of the decentralized network over time. However, the only way to achieve this is Ripple.
XRP Coins, which you have stored in either a hot or cold wallet. Given that a crypto wallet constitutes the most critical part of your cryptocurrency journey, a few key guidelines will include:
Always adapt the latest software version related to your Ripple wallet
By the first half of the year 2018, $ 1.1 Billion worth of cryptocurrencies had been stolen from various wallets and exchanges. The ability to commit cybercrime is easier than ever, with more than 10,000 marketplaces in the dark web offering crypto theft solutions to hackers.
This means updating your Ripple Wallet to the latest software version is the first step to ensure your coins remain in your possession. Update any software to your XPR wallet to the most recent releases ensure you are covered with the latest security measures.
Backup your crypto wallet
They are common across the globe. Backups play handy when you lose the Ripple software installed on any of your hardware devices failures or theft.
Backups, especially offline storage options such as Nano Ledger S can help you recover your wallet when lost or stolen.
'Tamperproof' your wallet's security
As evident in the amount of cryptocurrency that was stolen in the first half of 2018, theft is among the most significant risk facing cryptocurrencies. Therefore, like a ripple wallet holder, it is critical that you activate the most robust security measures to protect your crypto wallet.
The most basic security implements entail coming up with lengthy passwords that are difficult to guess by third parties. Also, activate a two-factor authentification step for anyone in need to access your wallet, which should only be you. This message can be coupled with instant message notifications on any logins via text messages sent to your mobile phone.
XRP wallet
Finally, as a Ripple investor or user, learn to leverage the services of both hot (online) and cold (offline) wallets. An online portfolio that is more prone to hacking. If they are not in use, they should remain in the cold.
