Wallet

Software or hardware that stores the keys controlling an XRP Ledger account.

A wallet does not hold XRP; the ledger does. The wallet holds the private key that authorises transactions from your account.

Self-custody wallets put that key in your hands. Leaving XRP on an exchange means the exchange holds the key, and you hold a claim against the exchange.

Related terms

Reserve requirement

A minimum XRP balance every ledger account must hold, plus a smaller amount per object it owns.

Custodial account

An account where a third party controls the keys to your crypto.

Self-custody

Holding your own private keys instead of trusting a platform to hold them.

Wallet

Related terms

More in Wallets