Toast Wallet Review – Security, Features, & Setup Guide

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In the world of cryptocurrency, there are a few key terms that you should pay close attention to…

“Wallets” are one of those terms (assuming you are interested in storing your crypto investments safely and securely).

There are hundreds of different wallets for hundreds of different cryptocurrencies. So how are you supposed to know which are the best and most trustworthy wallets to use?

Well, today we are going to be reviewing absolutely everything about an open source digital wallet called Toast Wallet.

In this special Toast Wallet review, we will be reviewing the wallet on the following criteria and at the end of the review, we will be giving our score across all of the evaluation categories along with our recommendation on whether or not you should use it.

Our Toast Wallet review criteria:

  1. Usability: “Is Toast Wallet easy to use?”
  2. Security: “Is Toast Wallet Secure?”
  3. Cost: “Does Toast Wallet have any fees?”
  4. Team: “Who is the team behind Toast Wallet and are they reliable”?

(Oh and also… at the end we are going to give you a step-by-step tutorial on how to activate Toast Wallet so you can make sure you have the latest and most up to date version)

In a rush and want the TLDR; version?

TLDR; Toast Wallet, in our opinion, is a good (not great) option if you are looking for a free and best Ripple wallet that is cross-device that has various security measures to ensure the safe storage of your XRP so you can sleep easy at night knowing some hacker can’t even come close to stealing your crypto.

With that said, let’s get into the details of our Toast Wallet review.

Usability: “Is Toast Wallet Easy To Use?”

To summarize in one word; kinda.

In terms of the actual functionality, it can definitely accomplish what you want (which is safely storing your XRP obviously).

But is the experience as good as a wallet like Trezor or Ledger?

Not even close.

It’s not rocket science to figure out how to set-up a Toast Wallet (as you will see in the tutorial at the end of this article). But that being said the user interface is pretty underwhelming.

You know the saying, “You get what you pay for”?

Well, that seems to be the case with Toast Wallet also, at least in terms of UI.

It doesn’t really seem like much effort was put into the user interface of user experience, which is understandable given that it is a free app.

But let’s talk about whether or not Toast Wallet is easy to use, regardless of the app is ugly or not.

After installing Toast Wallet on my iPhone, it was pretty easy to navigate.

On the bottom menu there are three tabs; home, send & settings.

Fairly intuitive, so full points there.

Also, when it comes to setting up a new account, you can easily add multiple Ripple addresses with their own nicknames and passphrases.

So admittedly, aside from its ugly design, it actually does seem to be fairly easy to use.

Security: “Is Toast Wallet Secure?”

Upon playing around with Toast Wallet, it does seem secure as any other mobile crypto wallet I have come across.

To be honest, crypto wallet security boils down to how responsible you are as a crypto investor.

If you store your passphrases, codes, etc… intelligently then you increase your chances of storing your crypto safely.

But if you, for example, lose your phone on which you installed Toast Wallet and also lose your passphrase then you are shit out of luck and can kiss your Ripple goodbye.

That said, Toast Wallet does have a couple of security features that make me feel more comfortable using it…

  • Making the user create a PIN, recovery phrase and passphrase to protect your wallet (again these are only useful if you store them securely)
  • No backing up of user data (nice to know your wallet info isn’t stored on any centralized servers)
  • They provide you with an easy way to create a backup copy of your wallet addresses 
  • 20 XRP minimum balance requirement

Let’s elaborate on that last point…

The 20 XRP reserve is specifically to prevent spammers from opening hundreds or thousands of unnecessary wallets. 

In terms of your security, I don’t think that means much but it’s nice to know there are fewer spammers floating around the Ripple ecosystem.

Another thing that I like about Toast Wallet is that its open source, which means anybody in the Ripple community can contribute to the codebase to help improve the wallet, spot bugs quickly, fix those bugs and improve the app as a whole.

Lastly, Toast Wallet seems to have a pretty decent community on Discord ( and their support seems pretty active in responding to their users on the Google Play and iOS App Store.

Cost: “Does Toast Wallet Have Any Fees?”


Awesome, 5 stars there. 

But seriously, Toast Wallet completely free to use. The Ripple network itself does have fees for interacting with it but Toast Wallet does not.

Team: “Who is the team behind Toast Wallet?”

Toast Wallet appears to be founded by a company called StarStone Software.

Upon doing a quick Google search, I found a website that looks like this:

starstone software

Also, after looking at LinkedIn, I could not find anything on their team.

So as someone who is supposed to trust this wallet with my hard-earned XRP, I would be hesitant to do so not knowing the team.

Given that the project is open-source, knowing who the actual founding team isn’t as much of a concern but nonetheless, it would be more reassuring if they were public about their identities.

What is our final opinion on Toast Wallet?

Well for me personally, I would 100% rather opt for the Trezor wallet.

My general philosophy toward investing is similar to my philosophy towards my health – it’s not something that you really want to cheap out on or it could come back to bite you in the ass later.

That said, if you are on a budget it does seem like a decent free wallet to use, with a good community and decent community/support to boot.

But if you are serious about investing in cryptocurrency and diversifying your portfolio outside of just Ripple, then I would just skip Toast Wallet and go straight to and buy their most recent wallet.

That about wraps it up for our Toast Wallet review. Hopefully, you have come t better understand everything about this wallet after reading this.

Oh… and if you would like to proceed with Toast Wallet, here is a set-up and installation guide for you to follow!

How To Set-Up & Install Toast Wallet…

The steps will provide step-by-step instructions for setting up Toast Wallet on your mobile device:

Step 1: Toast Wallet Download

Download and install Toast Wallet from Google Play or the Apple App Store. After installation, you will be presented with the license agreement, and be informed there is a 20 XRP (currently about 6 USD) minimum balance requirement in order to activate and start using your account. This minimum balance is required not by the Toast Wallet developers, but by the Ripple Network itself as a way of preventing spam accounts. After accepting, you can either create a new wallet address or add an existing XRP wallet address.

toast wallet review

toast wallet review

Step 2: Backup and secure your account

Next, you will need to protect your wallet by setting a PIN. After that, the software will generate a recovery phrase, which you must keep safely (it will appear in the dotted box shown below). Finally, you have to set your passphrase. This passphrase will completely encrypt your wallet so make sure to store it in a safe and secure place so you will never lose it.

crypto wallets

cryptocurrency wallet

toast wallet guide

These three security measures (PIN, recovery phrase and passphrase), distinctive to Toast Wallet, are the most important part of your wallet security. 

Step 3: Generate a wallet address

Once your wallet is secure you can generate a new address, add an existing one or get a vanity address (don't worry, all the processes are very easy to follow).

At this point, you can start enjoying the Toast Wallet experience. The interface is very simple and provides a good user experience.

toast wallet setup

toast wallet setup

Once you have generated an address, you can send some XRP to fund your newly-generated wallet, as well as send tokens to other wallets and exchanges.

best XRP ripple wallet

 Step 4: Make test transactions (Recommended)

To test that your newly created wallet is working perfectly, it is recommended that you send more than the required minimum balance of 20 XRP so you can do a test transaction. For example, you could load your wallet with 40 XRP (because 20 XRP needs to remain in the wallet for it to be active) and send the additional 20 XRP to another address to ensure everything is working smoothly.

Before you think about changing Toast Wallet for another wallet to avoid the 20 XRP reserve, remember that this requirement is set by the Ripple Network itself, so it applies to all Ripple wallets

Leave us a comment below if you have any questions!

Toast Wallet Review $0.00


Good wallet to protect your coins if looking for a cheaper solution than paying for a more premium wallet.

  • Usability
  • Price
  • Design
  • Setup & Installation
  • Security

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