What Is Toast Wallet?

Toast Wallet is a free to use digital currency wallet for the Ripple (XRP) cryptocurrency.

It’s an open source secure wallet that’s compatible with Android and iOS devices and supports Linux, Windows, Mac OS and the Chrome Browser.

According to its developers, this wallet caters to both newbie and experienced cryptocurrency users and enthusiasts.

The information provided here is for informational purposes only and should not be seen as investing advice. Our opinions on this site are only that, if you are considering an investment into cryptocurrency or anything we speak about on this site, please advise a trusted financial professional first, before doing so.

Who Is Behind Toast Wallet?

Toast Wallet was created by StarStone LTD, a software company based in Dunedin, New Zealand. It was launched in 2017.

The website doesn’t yield lots of information about the people behind Toast wallet, although it mentions Richard Holland as a director.

How Does It Work?

The Toast Wallet is a software wallet that stores your XRP cryptocurrency safely. It’s basically a simple-to-use wallet that supports a range of software and devices including iOS, Android, Windows, Linux and the Chrome Browser.

For people who prefer using PC instead of mobile apps, Toast wallet can be downloaded on your PC in form of software.  

Alternatively, head over to your Chrome Browser and key in www.toastwallet.com. Once there, click on “Create an account”

One of the distinguishing factors of the Toast Wallet is that this wallet uses both a PIN and Pass Phrase.

Pass phrases fully encrypt your wallet, meaning that if you lose your account, there’s a backup that can help you regain access to it.

The Toast wallet gives users the option of creating a backup copy of their wallet addresses as soon as they set up a wallet.

After you key in a PIN and pass phrase, you are now ready to use your wallet.

The process itself is straightforward. You can either generate a new wallet address or add an existing XRP wallet address.

Once you’ve generated a wallet address, you only need to load it by sending some XRP to it.

It’s worth noting that all XRP wallets need users to have at least 20 XRP permanently reserved in the wallet before they can use it.

As a principle, the Ripple Network requires the 20 XRP reserve to curb spam.

To activate your account, simply send over 20 XRP to your Toast wallet address.

The wallet is activated after the 20 XRP reflects in your account.  

To test your new address, you can send 30 XRP to the new address.

After the 20 XRP is reserved, send the remaining XRP to another address to see if the wallet works.

The PIN and passphrase are an important part of securing your wallet.

It’s worthy to note that you lose access to your wallet in the unfortunate event that you misplace or lose your PIN and Pass phrase.

At worst, you should not lose both.

To be on the safe side, it’s recommended that you write your pass phrase before storing it in a safe place.

Given the dire consequences of losing it, it’s a brilliant idea to store it in a safe box in a local bank.

One thing to note is that you won’t be able to use your Toast Wallet account unless you reserve the required 20 XRP. The Ripple Network demands that all wallets reserve the prerequisite 20 XRP to weed out spam wallets.

Luckily, this seems to be the only limitation of the Toast Wallet. According to the Toast wallet website, they intend to lower the minimum operating balance to less than the current 20 XRP, although this must only happen if Toast Wallet and Ripple agree to it.

Toast Wallet Fees

The Toast Wallet is free to use and is open to anyone with an IOS or Android device. It’s also available to PC users.  

According to their website, Toast Wallet developers intend to keep it free for a long time. But how do they make money?

Their website shows they will continue to use the wallet to push more Ripple products and services.

From the look of things, you’ll continue to enjoy your Toast Wallet for many years for free, at least in the foreseeable future.

Is Toast Wallet Safe?

According to its huge community of users, Toast Wallet is one of the safest and secure software wallets out there. They like it because it’s easy to use and provides them with a functional wallet for XRP. 

Toast Wallet developers say the wallet’s code is open source, meaning that it’s publicly available to anyone to scrutinize. What this essentially means is that the wallet is secured by its many public users, creating an extra layer of security.

Since its launch in 2017, the Toast Wallet seems to have put in place some solid measures to make sure the security of your coins is assured. 

Firstly, the developers insist that the company doesn’t back up user data. Secondly, there’s the PIN and pass phrase, the first line of defence for your Toast Wallet.

The only catch is that you should never lose both the Pin and pass phrase as doing so means you lose access to your wallet addresses, and coins.

In all, the Toast wallet is secure and safe to use, and you shouldn’t have any worries when you store your XRP on it.

How To Use Toast Wallet

Toast wallet is becoming a popular wallet choice for most XRP owners.

They like it for its simple interface and compatibility.

Essentially, you can use Toast Wallet from almost any mobile device as long as it uses Android or iOS.

PC users on Linux and Windows as well as those using the Chrome Browser can also access the Toast Wallet. Just download it and you’ll be on your way to enjoying your Ripple experience.  

After downloading, back it up using the PIN and a pass phrase. Always remember to write the pass phrase as you may need it to recover your account.

With the private key you generate, you can send XRP to that address to load your wallet. The only point to remember is that you cannot use the wallet before you load it with 20 XRP as mentioned earlier.

The 20 XRP reserve is not an issue with Toast Wallet as it applies to all Ripple wallets.

With the wallet up and running, you can back it up, transfer cryptocurrencies to other people, or even exchange currencies.

Essentially, the Toast wallet allows you to create a new account or to add an existing XRP wallet address and the process is easy as we have shown earlier.


The Toast Wallet is one of the many wallet options that Ripple users can explore.

To its credit, it’s easy to use and its user interface is simple, allowing you to conduct the business of storing XRP fast, easily and safely.

Security is another key pillar of the Toast wallet.

Open Source wallets are generally safer to use than closed source wallets because their codes are publicly available to everyone, thus secured by many.

The only downside of using Toast Wallet is the 20XRP reserve, although this is a Ripple Network’s feature that applies to all XRP wallets.

At a time when cases of cryptocurrency theft are on the rise, the Toast Wallet seems like one of the few that assure its users of security.

There’s also the interesting fact that it’s only designed for the Ripple Network.

This technically means that a hack attack can only come from hackers interested in XRP coins.

Overall, Toast wallet is a practical wallet worth trying.


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