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The Ripple Network is still in its early stages. It is in “beta” which means they are discovering and fixing bugs and adjusting the user experience. Nevertheless it is worth exploring and getting a Ripple Wallet to buy some XRP and move money around the world for free.

The Ripple Wallet has been around for some time. Last June I got the invitation to open one and, the creators of The Ripple Network, gave me 1000 ripples as part of their global distribution program of the XRP digital currency.

The Ripple Network is a global open payments system that supports any currency including bitcoin. It also has its own native currency (the ripple or XRP) to facilitate money transfers within the system. To learn more about The Ripple Network please or, head of business development at OpenCoin Inc..

Last week OpenCoin Inc. contacted Ripple Wallet users again to distribute more XRP, but in this case I had to join a new “gateway” service called to get my 1500 new XRP.

This was great because . This means now I can move money from my US dollar bank account to my Ripple Wallet, back and forth, through SnapSwap. Before this, my Ripple Wallet was somewhat isolated. The way of “loading” some money was by receiving XRP from an OpenCoin giveaway. The other alternative was buying them from someone else, sending the dollars through other means, so they would send the XRP to my wallet.

Now that my wallet is linked to the US bank system through SnapSwap, I can do much more with it.

Features:

Before anything let me tell you that bitcoins, ripples, and other digital currencies have been very volatile. If you use them there is still a significant risk you may lose substantial amounts of money. Having said this I don’t mind using my XRP 2500 which amounts to around $10 and maybe I will upload $100 more to buy things and see how it works.

Registration and security:

To get the wallet you need to go to to register. You need to select a name for you wallet and then create a pass phrase (password). Be careful here because they make it clear that if you lose your pass phrase the only way of recovering your wallet is by using your secret key. The secret key is obtained after opening the wallet. They let you see the pass phrase you selected and your secret key. You need to back them up in a file or secure place in your laptop. If you lose your secret key and your pass phrase you will lose your wallet and the money you had there. It’s like a real wallet in your pocket!