Ripple users have been looking for some alternative XRP wallet solutions. It is somewhat strange to learn so few options are available at this point in time. Toast Wallet is a new open source XRP wallet for multiple platforms and operating systems.So far, it seems to be well-received but always do your own research when dealing with third party software solutions. Alternatives are always in high demand, though.
It is good to see someone build a new XRP wallet solution for Ripple users. There are a few different wallets available right now, yet none of them are too convenient. Toast Wallet may be able to offer something more regular users have been looking for. It is an open source XRP wallet, which works across Android, iOS, PC, and your browsers. Having cross-platform support will be quite invaluable for a lot of Ripple enthusiasts, that much is evident.
Toast Wallet Will Serve XRP Holders Well
It appears Toast Wallet will encrypt your wallet information and ensures it only resides on your device. There will be no communication with external services, which is a good sign. Considering how this is an open source project, anyone can vet the source code on GitHub if they wanted to. For now, there is no way to monetize this wallet in any way, although that situation will change in the future. More specifically, the team will capitalize on the project through business-oriented services in the future.
It is evident the Ripple community has been looking for such a wallet for some time now. Although the existing wallets all do a good job, they aren’t the most appealing ones. Then again, XRP is not your average cryptocurrency either. It is a tool designed to be used by banks and financial service providers, rather than consumers and speculators. Given the price surge of XRP this year, a lot of people have gotten interested in the project, though.
Thankfully there is also a backup feature, which allows users to move the Toast Wallet to a different device. It seems to be a safe solution for long-term storage of XRP. We do advise users to do their own research before using this wallet, though. It seems perfectly legitimate and the open source nature instills a lot of confidence. However, one can never be too careful when it comes to new cryptocurrency wallets these days. Toast Wallet is certainly worth checking out if you own XRP.
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