To store XRP or a new XRP Ledger token, choose who will control the account’s keys, protect the recovery material that can authorize transactions, and verify a token’s issuer and rules separately. A wallet can protect access; it cannot prove that a token is legitimate, redeemable, or free from issuer controls.
Choose who controls the keys
The main difference between a custodial and non-custodial wallet is who holds the secret keys—and therefore who manages recovery. Neither option is universally safest: the right fit depends on your comfort managing secrets, need for recovery support, and intended use.
| Factor | Custodial wallet | Non-custodial wallet |
|---|---|---|
| Who holds the keys | The provider holds them. | You control the secret keys. |
| Recovery | The provider may offer password recovery or support, subject to its terms. | You manage the recovery material. XRPL says there is no recovery option if you lose your keys. |
| Exposure | Access depends on the provider’s systems and security practices. | Software wallets may be connected to the internet; a hardware signing device can limit key exposure by signing without the secret key leaving the device. |
| Convenience and compatibility | Depends on the provider’s supported networks, tokens, and services. | Depends on the wallet’s supported networks, token types, and transaction types. |
| Main trust responsibility | You rely on the provider’s security and access terms. | You are responsible for securing keys and recovery backups. |
XRPL’s Crypto Wallets documentation explains custody and recovery risks. A provider’s recovery process does not remove the need to understand its access terms; self-custody avoids relying on a wallet provider to hold the keys but makes a lost key your problem.
Know what your wallet secrets can do
A public address or account ID is not the same as a secret. A seed, private key, or passphrase can authorize control of the account. XRPL warns that someone who knows an account secret can make valid signatures and control that account. Never disclose these secrets to a support agent, website, or person offering help.
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- Effortlessly build your crypto portfolio via the all in one Ledger Wallet app: buy, sell, send, receive, swap, stake and more across popular blockchains. 15,000+ coins & tokens in a single dashboard. Keep a close eye on the market. Compare service providers. Track performance. Get timely alerts. Build your portfolio with confidence.
- Enjoy Bluetooth connectivity, iOS access, and hours of battery use with this mobile-first, secure backup signer. Freedom you can depend on.
- Genuine Check: confirm your signer is authentic during setup with the Ledger Wallet app.
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Generate keys using the wallet’s documented process. Do not derive a seed from a memorable phrase: XRPL advises that keys must be random enough to be secure. Obtain wallet software or hardware through the provider’s authentic channel, and check current documentation for XRP and the exact token type you intend to use. Wallet-provider security matters too; malicious software updates or dependencies can undermine protection.
Make an offline recovery backup
Back up recovery material so it remains available if a device is lost or damaged, while keeping it inaccessible to others. Do not put a seed phrase or private key in plain text online, email it to yourself, photograph it into synced storage, or enter it on an unsolicited site. XRPL cautions against exposing secrets over the internet. Offline signing is possible but is an advanced approach with its own operational-security requirements.
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- Keep the recovery material private and physically protected from unauthorized access.
- Consider how the backup could be lost or damaged, and plan a secure way to preserve it.
- Do not treat a wallet password or device lock as a replacement for the recovery backup.
When a hardware wallet can help
A hardware wallet is a dedicated signing device that can keep the secret key from leaving the device while it signs. It can reduce a key’s exposure to an internet-connected computer, but it does not prevent someone from stealing a recovery phrase you disclose, make every transaction safe to approve, or establish that an issued token is trustworthy.
Before relying on a device, verify that its current documentation supports XRP and the intended token, and that it can sign the transactions you need. XRPL notes that some devices may not support all transaction types. Keep the recovery phrase protected even when using hardware; the device is not a substitute for a secure backup.
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Check a new token separately from wallet security
XRP is the XRP Ledger’s native asset. Other assets on the ledger may be issued tokens, whose behavior can depend on the issuer and token type. Having a token appear in a wallet does not establish that it is legitimate, redeemable, or economically sound.
- Verify the issuer address and token identity against reliable issuer documentation and ledger data.
- Check applicable freeze, lock, clawback, and authorization settings.
- Assess any redemption conditions independently; protocol settings cannot prove that an issuer will honor an off-ledger promise.
For trust line tokens, issuer settings can affect transfer and freeze behavior. XRPL’s freeze documentation distinguishes issued tokens from XRP: XRP cannot be frozen on-ledger under these token features, while trust line tokens may be frozen by an issuer in circumstances allowed by their settings. A custodian may still control assets held in custody.
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Clawback is not an automatic feature of every token. For trust line tokens, the issuer must enable the capability in advance; Multi-Purpose Tokens (MPTs) have a separate issuance setting. XRPL states that XRP cannot be clawed back. See the documentation on clawing back trust line tokens and MPT clawback for the distinctions.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Check current account setup requirements
As of the XRP Ledger documentation accessed in 2026, the accounts page lists a 1 XRP minimum reserve to establish a direct account. This is a protocol parameter, not a timeless wallet rule; check the official page before setting up an account because the amount can change.
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