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Digital wallets are software applications that allow people to send, receive, and store cryptocurrencies, including XRP (Ripple).
There are two types of digital wallets: hardware and software wallets.
Software Wallets #
A software wallet allows you to store your crypto assets on software applications all in one place. These are also known as hot wallets, which store the keys to your cryptocurrencies connected to the internet.
Hardware Wallets #
A hardware wallet is a portable digital key that allows you to access your crypto assets safely anywhere. In contrast to hot wallets, these hardware wallets are considered cold wallets. Cold wallets keep your cryptocurrency offline and disconnected from the internet.