does coinbase wallet accept xrp

Coinbase Wallet doesn't support XRP due to ongoing legal uncertainty and being a non-custodial wallet, but alternatives like Xumm Wallet, Ledger Nano X, and Trezor Model T provide safe storage options.

Nov 14, 2024 at 04:08 pm

Can Coinbase Wallet Accept XRP?

Coinbase Wallet is a popular digital wallet that supports a wide range of cryptocurrencies. However, XRP is not one of the supported coins.

Here are the reasons why:

1. Coinbase has a policy against listing XRP. This is due to the ongoing legal uncertainty surrounding the cryptocurrency. The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Ripple Labs, the company behind XRP, alleging that it sold unregistered securities.
2. Coinbase Wallet is a non-custodial wallet. This means that users have full control over their private keys. However, XRP is a custodial cryptocurrency, which means that users must trust a third party to hold their XRP for them. Coinbase does not want to be responsible for holding XRP for its users due to the legal risks involved.

Alternatives to Coinbase Wallet for XRP

If you want to store XRP, there are several other wallets that you can use. Some popular options include:

1. Xumm Wallet: This is a non-custodial wallet that is specifically designed for XRP.
2. Ledger Nano X: This is a hardware wallet that supports XRP, as well as a variety of other cryptocurrencies.
3. Trezor Model T: This is another hardware wallet that supports XRP.

Conclusion

Coinbase Wallet does not support XRP due to the legal uncertainty surrounding the cryptocurrency and because Coinbase Wallet is a non-custodial wallet. However, there are several other wallets that you can use to store XRP.