Getting re-acquainted with Ripple Client/Trade/wallets

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Getting re-acquainted with Ripple Client/Trade/wallets

Postby SWT » Sat Jan 31, 2015 6:08 am

Hi all, I first started playing around with Ripple in early 2013. I have not done much at all with it since, other than the odd log into to the client every now and then.

Now I have come back to ripple interested in setting up a gateway and market making. Not being very technical, and with all of the changes that have happened with Ripple labs over the last two years, I am confused to say the least. Hoping someone can lend a helping hand. ( I have the required reserves for my wallet to be active for the last two years.)

I am getting confused between the local client and Ripple Trade. I want to buy XRP but want to have cold storage set up. I have created some test accounts/addresses in the local client to test cold storage with a tiny amount of XRP. I successfully sent 25 xrp from my hot wallet to a newly created account/secret key and address created offline. I then successfully imported my new private key/account (generated on offline client) to a newly created RippleTrade account (really confusing why I can just import the Secret Key to an existing Ripple Trade account).

Do I really have to keep creating (and verifying via email) new Ripple Trade accounts every time I want to store XRP in cold storage and then bring it online? It seems absurd to keep creating new accounts and verifying them, just to then send the XRP back to my main and original account or hot wallet.

I am not feeling confident yet that I have the solution for proper cold storage with ripple and XRP.

Perhaps starting from square one, what is the simplest way to store XRP in cold storage for a non technical user?

Do I just need to focus on securing my account with the local client rather than worrying about RippleTrade? There clearly is still a ways to go for Ripple's ease of use for non technical people...

My apologies if this has been addressed previously. If so if someone can point me in the right direction it would be appreciated. I have been looking around for a while, everything I have found is out of date.
Posts: 1
Joined: Sat Jan 31, 2015 5:49 am

Re: Getting re-acquainted with Ripple Client/Trade/wallets

Postby Chris4210 » Sun Feb 01, 2015 6:51 pm


I know what you are talking about, i am also looking for an easy and secure way to handle cold wallets. Any good suggestions everybody?

@SWT , what do you mean with " ( I have the required reserves for my wallet to be active for the last two years.)" Does a Gateways wallet require a certain age of excising? I also would like to know, how to give out IOU´s as a Gateway. Any ideas?

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Joined: Sat Jan 17, 2015 4:38 pm

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