If you want to create a Ripple paper wallet the process is pretty simple and in this short guide I’ll be showing you how to do this step-by-step. I’m guessing that you have some ripple that you are looking to store long-term and keep it as safe as possible. If this is you then you’re in the right place and a paper wallet is a good choice.
Hardware wallets are also a great choice for storing cryptocurrencies like Ripple long-term but they cost a pretty penny to buy, whereas paper wallets are free and all you have to do is make one yourself. Most hardware wallets like TREZOR and KeepKey don’t support Ripple anyhow… Ledger Nano S would work though.
But anyway… before I get into the process of creating your own Ripple paper wallet I think it’s important that I touch upon what exactly a paper wallet is real quick in case anyone reading this doesn’t now. If you already are well aware of what one is you can skip ahead.
What Is a Ripple Paper Wallet?
A paper wallet is nothing more than a piece of paper with numbers written down (or printed) on it that are associated with an account on the Ripple blockchain.
With cryptocurrencies like Ripple each account on the blockchain has a public and private key associated with it. The public key is the wallet address that you would use to send Ripple to your wallet and the private key is kind of like a password that you would use to “unlock” your Ripple account to be able to send your funds elsewhere.
The reason people create paper wallets in the first place is because they are a type of “cold storage”, meaning they are off-line and un-hackable. If you store your Ripple on an exchange it is possible for the exchange to be hacked and for you to lose your funds. But with a paper wallet that has no connection to the Internet or any sort of remote device it is un-hackable and safe. On exchanges you actually don’t really have much control of your funds. The exchange is the place that holds your private keys for you so it can be quite dangerous, which is why you hear about exchanges being hacked all the time and people losing tons of cryptocurrency funds.
So if you buy Ripple on Kraken (for example), its only a good idea to keep it there if you are going to be actively trading it or something like that.
What to Do Before Creating Your Paper Wallet
What you will be doing is using a program to generate a Ripple wallet for you online. What these programs do is interact with the Ripple blockchain and set you up with your own public key and the private key that goes with it.
Since you will be online when you generate your wallet you will want to make sure your computer is completely safe so you should scan your computer for viruses before hand. It is possible that you could have malware on your computer where a hacker could possibly see your computer screen and see the Ripple wallet’s public and private key when you generate them.
So play it safe and run a quick scan before moving on.
The Process of Creating Your Wallet
There are many different Ripple wallet generators out there that you can use but you want to be careful on which you choose. You have to make sure you create a ripple wallet through a legitimate source. The last thing you want to do is create a ripple wallet through a “shady” tool that spies on the private key it generates you and then steals your funds after you deposit them.
A good wallet generator will not have any knowledge of your Ripple private key. It will generate it for you but only you will know it and see it. In this guide I’ll be showing you how to use the Bithomp generator, which is one of the more popular ones out there.
Step 1: Go to Bithomp.com/create
The first thing you have to do is go to Bithomp.com/create. Once you are there you will see that it says “Create your new Ripple account” and below this it has a spot for your Ripple address and your Ripple secret with a button below that says Generate.
You will be clicking on the Generate button to create your new wallet but do not do this yet.
Step 2: Disconnect Your Internet
Then what I would suggest doing is disconnecting your Internet from your computer. If you are using a Windows computer with Wi-Fi then there should be a Wi-Fi symbol down in the bottom right of the screen that you can click on, then click on Wi-Fi and choose to disconnect the signal you’re connected to.
The Ripple wallet address generator tool does not need Internet to run. As long as you loaded the page shown above it will work and be able to generate you a new wallet.
Step 3: Generate Your Wallet
With the Internet disconnected click on the Generate button on Bithomp. This will automatically generate a public and private key for you. The string of numbers and letters on the top is your public key and the numbers and letters on the bottom are your private key, which is the one that no one should see except for yourself.
Step 4: Print It Out
Now it’s time to print out the wallet. You should be able to do this by right clicking anywhere on the screen and going to print in the menu. When you print use and ethernet cable if possible without using Wi-Fi, since still don’t want to use Wi-Fi at this point.
If you want to you could just write down your public and private key on a piece of paper yourself and not print anything out, but it’s your choice. Either way will do.
Step 5: Make a Copy
You do not want to store all your Ripple funds on a paper wallet and only have one copy of it. What if that copy would get damaged? What if you spill coffee on it or what if your house burns down?
You can make as many copies as you want but I would suggest at least two. And store them in different places. It would be smart to keep one on or near you and keep the other somewhere completely different, such as a safety deposit box, your parents house basement, etc.
Step 6: Wipe Your Computer & Printer (Optional)
If you are planning on storing a lot of Ripple funds in this paper wallet and want to play things extra safe then you should wipe your computer and printer clean. I’m not going over how to do this because it will vary depending on your computer and printer, so you will have to look it up online if you want to.
This is just another layer of safety to ensure that you and only you have access to the private key that was just generated for your wallet.
Step 4: Sit Back and Hope That Ripple Rises in Price
That’s it, that is all you do. Now it’s time to just sit back and hope that Ripple rises in value.
*Oh ya… and be sure to turn your internet back on!
If you have any questions about anything at all do not hesitate to leave them below. I will gladly get back to you as soon as I can. I know this process can be a bit confusing. Also leave any comments down below if you have any suggestions for better Ripple wallet generators out there.