Why are wallets getting disabled?

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Why are wallets getting disabled?

Postby Jpsln » Thu Feb 23, 2017 8:52 am

Can someone explain this? It's a bit off-putting to be reading this here the minute I come to the page.

And how does one create a Ripple wallet? I'm just looking to buy some to hold long term.
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Re: Why are wallets getting disabled?

Postby JoelKatz » Thu Feb 23, 2017 5:05 pm

Can you clarify what it is that you are referring to?
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Re: Why are wallets getting disabled?

Postby Jpsln » Thu Feb 23, 2017 8:25 pm

I see people posting requests for some Ripple in order to reactivate disabled wallets. That is confusing to me. Can you explain this?
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Re: Why are wallets getting disabled?

Postby Sukrim » Fri Feb 24, 2017 7:45 am

You initially need to fund a wallet with a few XRP to be able to use it. Most of the posts here are asking for this initial amount.

There is also a way to spend most/all of your XRP which then means that you need a few XRP in your account to fully use it again. It is rarely the case that people are asking on the forums here because of that.
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Re: Why are wallets getting disabled?

Postby JoelKatz » Sun Feb 26, 2017 6:01 am

When you create a wallet directly on the Ripple ledger, all you're doing is creating a private key and figuring out the associated account. There aren't any actual entries in the ledger yet.

Often people want to use Ripple accounts to handle other currencies. Even if you want to buy XRP, for example, you might want to transfer some bitcoins or dollars to your Ripple wallet to trade for XRP. In order to do this, you have to configure your wallet to accept particular assets, which you can't do until it's funded.

It takes about 50 XRP to do this, less than 50 cents worth. To avoid having to find some way to directly buy 50 cents worth of XRP, people often just ask if someone will activate their wallet. Sometimes they'll offer to repay the XRP once they've traded some other asset for XRP or offer to pay it forward and help someone else activate.

It is also theoretically possible to get your wallet "jammed" such that you need a few more XRP to unjam it. This is very hard to do because if you have any assets at all, you can trade them for XRP by making a payment to yourself or by placing an offer that fills immediately. You could possibly get into a situation where you had a wallet with other assets but not even enough XRP to submit a transaction. This is difficult to get into because of the way the reserve works, but it's not impossible. That's another case where you might need a small amount of XRP to activate your wallet.
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