Toast Wallet Review (1) - PowerPoint PPT Presentation

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Toast Wallet Review (1)

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Toast is a Ripple (XRP) non-custodial wallet that was founded in 2017. – PowerPoint PPT presentation

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Title: Toast Wallet Review (1)


1
Toast Wallet Review
  • Toast is a Ripple (XRP) non-custodial wallet that
    was founded in 2017.

2
What is a Toast Wallet?
  • Toast is a Ripple (XRP) non-custodial wallet that
    was founded in 2017. It was created by a company
    named StarStone Unlimited, based in New Zealand,
    Dunedin. Toast Wallet is a free, open-source
    Ripple XRP wallet which is compatible with iOS,
    Android, Windows, Mac, and Linux.
  • One of the positive aspects regarding this wallet
    is that it is non-hosted, which means you are the
    only entity that holds the private keys of the
    wallet. This makes things more secure as
    important information is less exposed to hacking
    attempts.

3
  • This cross-platform Ripple wallet has a simple to
    use and intuitive interface and a high level of
    security, as they do not direct any information
    or passwords to their servers.
  • Unlike physical wallets, digital wallets do not
    store the cryptocurrency. Rather, a secure
    digital code called the private key is stored in
    a cryptocurrency wallet. There are a number of
    third-party digital wallets that could hold a
    single currency or multiple different currencies.

4
  • With the launch and increasing market cap of the
    Ripple XRP currency since 2012, a robust digital
    wallet for Ripple currency was needed. This need
    was fulfilled by the Toast Wallet introduced in
    2017.
  • In this article, we will provide the complete
    aspects of the Toast Wallet and cover points such
    as its features, fees, set up and installation,
    and much more. Let us look into this Toast Wallet
    review in detail now,

5
Toast Wallet Features
  • 1. User interface The interface has a very
    simple design. it is extremely easy to navigate
    and very intuitive. The bottom menu features
    three tabs home, send settings, and you also
    have the option to set up multiple Ripple
    addresses.
  • 2. Backup You can export a backup of the Toast
    wallet into a different wallet. This is done by
    importing the Ripple secret and passphrase. You
    do need to make a backup of the toast wallet from
    the settings menu after generating addresses so
    you can use it later.

6
  • 3. Minimum XRP Reserve As with other Ripple
    wallets, you need to maintain a minimum balance
    of 20 XRP in your Toast wallet. You also have to
    keep a reserve of 5 XRP for each trust line or
    object in your account.
  • 4. Security Toast Wallet is made secure by using
    a combination of a PIN and a passphrase. These
    are strongly encrypted and stored in your device
    using PouchDB.

7
  • 5. Customer Support Customer service in the case
    of the Toast Wallet, has been commendable. You
    can reach customer support by using phone, online
    ticket, and email on support_at_starstone.co.nz. You
    can also reach through social media such as
    Facebook and Twitter.

8
Toast Wallet Fees and Limits
  • Toast wallet is free and there are no fees.
    However, there is a 20 XRP minimum reserve which
    cannot be withdrawn. This is a feature of the
    Ripple network for the purposes of limiting
    transaction spam.
  • In terms of speed, Toast wallet transactions are
    generally fast. However, like most applications,
    congestion can occur when many users are trying
    to process transactions at the same time. There
    are no limits to how much you can deposit in your
    wallet, but when withdrawing, you always have to
    make sure that 20 XRP remains in your wallet.

9
Toast Wallet Supported Currencies
  • Toast Wallet supports only one cryptocurrency,
    Ripples XRP token. It can be used by people from
    all countries.
  • Toast Wallet is compatible with both desktop and
    mobile systems. It is being available for iOS,
    Android, Windows, Mac, Linux, as well as Chrome.

10
Is Toast Wallet safe?
  • Toast wallet keeps your data on your device and
    does not send information to its servers. This is
    useful for security purposes. It must also be
    noted that if you lose your phrase or backup then
    your wallet cannot be retrieved. Therefore it is
    advised to make backups and store these in safe,
    preferably offline, locations.

11
  • The stored XRP in Toast wallet is protected by
    strong encryption. The wallet is protected by a
    PIN, and it also generates a 24-word recovery
    phrase. The PIN and seed phrase data are kept in
    a securely encrypted JavaScript open-source
    database called PouchDB. This runs within your
    browser plugin and allows you to store data
    locally when in offline mode.

12
Toast Wallet Pros and Cons
13
Pros
  • 1. User-friendly interface
  • 2. open-source software
  • 3. dedicated and responsive support
  • 4. multiple XRP wallet capabilities
  • 5. supports backup
  •  

14
Cons
  • 1. 20 XRP activation and reserve
  • 2. No blockchain features
  • 3. Supports only XRP
  • 4. The wallet can only be accessed from the
    initial set up device

15
Conclusion
16
  • Considering the features and use of Toast Wallet,
    it is an ideal option for storing XRP. Users can
    enjoy a user-friendly interface, as well as
    dedicated and responsive support. However, they
    have to take into account that the wallet can
    only be accessed from the initial set up device.
  • The Toast Wallet is seen as being one of the best
    Ripple wallets and is a trusted means of securely
    storing your XRP tokens. The code is open source
    which helps developers to verify the quality of
    the code. It can be used on a number of different
    platforms and is a great solution if you want a
    Ripple desktop wallet.

17
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