When opening the ripple wallet, most people do not know that a required deposit needs to be made before doing anything in the crypto world.
Since you have 20 XRP stuck in your wallet, many people wonder how to get them back. Today we will lead you through the process of how to get 20 XRP out of the wallet.
Why do I Have an Unspendable Balance?
To activate a new Ripple address, you need to deposit 20 XRP, and after that, you have to maintain a minimum of 20 XRP in your wallet. The reason why they have this requirement is “to prevent the shared global ledger from growing excessively large as the result of spam or malicious usage“.
How to Get 20 XRP Out of the Wallet?
Generally speaking, you cannot empty your Ripple wallet. But you can realize it by deleting your wallet, and part of your cryptos can be returned.
You need two things. First is a tool that can submit the “Account Delete” transaction.
Second, you need a destination account that knows how to credit you for your XRP. If this is your private wallet, these 20 XRP will appear on your balance. But suppose it’s an exchange like Coinbase, which many people use when trading cryptocurrencies. They may not recognize that when receiving payment, so you better make sure the exchange will credit you before sending any XRP.
Here is How You Can do it:
- Make sure you have your private key securely stored so that you can restore access if needed.
- Get prepared to delete the account. Transfer all the balances from your wallet to the exchange to “empty your crypto wallet.”
- Install on your phone the Xumm App wallet. And import your XRP wallet into Xumm by using your private key.
- You need a second ripple wallet to remove the current ripple wallet, and it can be your friend`s wallet or anyone you trust. Remember, the second ripple wallet should not be a new one. Otherwise, you will not get your XRP out. Also, you could try to withdraw XRP to the Binance exchange directly.
- Deleting your current XRP account. You can go to Account – Properties and click on the Delete Account to proceed.
- Paste in the destination XRP address(the second ripple account) to receive your XPR owner reserve. It will be 2 XRP less because it costs 2 XRP to delete your XRP account.
- Proceed with the transaction and confirm if your account is deleted. Check on your wallet to see if you got these reserved XRP.
How Long Does it Take to Withdraw XRP?
Withdrawals on XRP should usually occur within two hours, and there’s about an 85% chance they’ll happen instantly.
Where to Keep Your XRP
Keeping your XRP safe is an essential part of ensuring that you have the best chance to achieve success with this cryptocurrency. There are three types of commonly used XRP-supported wallets: hardware wallet, software wallet, and cloud-based wallet. The type you choose will depend on what works best for you. For most people, buying an XRP ledger from their website may be the best way to keep your XRP safe.