by William Carter

Toast Wallet Review: Features and How-to-Use Guide

Toast is a single asset open source wallet. It supports only Ripple (XRP), doesn’t work with any online exchanges and is free to obtain. What is more, you can run it using Windows, Linux and Mac OS. For the users using mobile devices mainly, Toast is compatible with iOS and Android. In addition, the interface is simple and easy to understand.

01.Toast Features & Fees

Let me start by saying that Toast wallet keeps your private keys safe on it, not online, which boosts the security level on a next stage. The interface is clean, easy to follow and use. Many people prefer this wallet over others, because it allows offline transactions and quick installation process via clickable OS options. The passphrase gives an extra pinch of security into the work of Toast. For me, there is one more useful detail – the message box being a part of the sending process. Unfortunately, there is not much information for the project and its creators. This is a bit of a hiccup.

Pros & Cons

This section aims to present every aspect of the Toast wallet to you. I know how important such piece of information is, that is why I made it short, clear and straight to the point. Have a look at the advantages and disadvantages of this interesting wallet:

Pros

Free WalletAvailable for public view
Open-Source The code can be viewed by anyone and they can check for bugs, weaknesses and malware
No Online Data ExchangesThe wallet communicates only with the XRP network. No backups are stored on their servers
Multiple Security Levels It uses a PIN, a passphrase and when both are lost – a recovery phrase

Cons

Customer Support Poor customer service
Wallet Limitation A minimum of 20XRP, which is a requirement of the XRP network

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or

Operating System Compatibility

This cross-platform is safe to use and simple to manipulate. Toast is developed for the majority of the online platforms and everything connected with Windows, Android, Mac, Linux and iOS. I personally find that a great benefit. Here are the operating systems and their details:

Windows

Windows

32 and 64 Bit Supported
Linux

Linux

32 and 64 Bit Supported
Mac OS

Mac OS

32 and 64 Bit Supported
Android

Android

Requires Android 4.1 or later
iOS

iOS

Requires iOS 8.0 or later
Browser Extensions

Chrome

Chrome

Is Toast Safe?

Security

This wallet’s open source character and the fact that it is not an online wallet helps a lot with the security aspect. Basically, there is nothing to be hacked, because Toast wallet interacts with nothing but the XRP network. Another point for security is the lack of user complaints by far. This makes the wallet legit. Here are some of the main security features:

PIN and a Passphrase Combination

The strong combination of a passphrase and a PIN is encrypted and stored in Toast, via PouchDB. This is an open-source JavaScript database, storing data locally when offline. The moment it is connected to the internet, it syncs and keeps your data up to date all the time.

Recovery Phrase

It is used to reset the PIN, but you do need to store your PIN, the passphrase and the recovery one in a secure offline location. Do that by noting them down or store them in a protected USB or another hardware device.

Privacy and Anonymity

Toast is a simple and easy to use Ripple wallet, which offers the most needed features. Privacy and anonymity are additional functions and are not included by the developers. They emphasize on security and transactions.

Is Toast the Wallet for You?

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Transaction Fees

All Ripple wallets need a minimum of 20XRP in order to function. They are kept locked, but validators are debating to free these funds in the near future. This is the same for Toast as well. What is more, for trading via the XRP third-party exchange using trust lines you need to have a reserve of 5XRP. This way, fake transactions used by spammers are not possible in this network. In crypto, fees determine how fast your data will be processed and pushed through the network into the blockchain. In case it is overloaded with pending requests, the typically fast Toast wallet data processing slows down.

Conclusion

Here is a short summary of my Toast wallet review. Toast has an easy-to-use and simple interface that works on every platform you require. The access to your wallet is possible while on the go via your mobile device too. It keeps your private and public keys safe and secure away from any external networks. Furthermore, it is free and has a PIN and a passphrase for protection. In case you lose or forget them, there is a recovery passphrase to help restore your assets.

toast

Open-
Source
Multiple Levels
of Security

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So far so good, but how about the customer support? Toast wallet is not performing very good in that area. For me, this is a bit of a downer, because there are certain moments where you need fast and reliable support. Another bump is the minimum deposit required by the network. Let me offer Ledger Nano S as a substitute, where the support is top notch and there are the same XRP deposit requirements.

02.Toast Wallet Guide: How to Setup and Use

In this section, you will learn how to set up and use the Toast wallet. There are downloading software suggestions and interface introduction. I have mentioned the backup and restore options as well, plus some main issues combined with ways to deal with them.

How to Install

Here the main action required from you is to pick the proper file for the OS used. Below, I have separated the instructions for Windows, Linux, Mac OSX, iOS and Android. Have a look and follow the instructions.

Choose an Operating System

Toast for Windows logoWindows

Download the installer for Windows
Run the file
Toast installation starts automatically. For Windows 10 you need to click on install

Create or restore your Toast wallet

Toast for Linux logoLinux

Download the installer
Locate and execute the file
Double click and run the program

Now you can create or restore your Toast wallet

Toast for Mac logoMacOS

Download the installer for Mac OS
Activate the .dmg file by double clicking it
Drag the file to Applications and install

You are ready to use your Toast

Toast for AndroidAndroid

Open Google play and download the wallet
Run the app on your phone
Create a backup of the wallet

Use the wallet for send and receive

Toast for iOS logoiOS

Open Apple store and download the wallet
Run the application after the download
Secure your assets by creating a backup

Use the wallet for send and receive after that

Interface Overview

Toast wallet has a confusion-free interface, both for mobile (iOS, Android) and desktop (Windows, Mac OS X, Linux) versions. The home screen swiftly points you to add an existing address or create a new one. There are also tabs for sending and adjusting settings. They are useful when you need a new PIN or want to change your passphrase. Users keen on Ripple management are often using this wallet.

Create an Address

Creating an address in the Toast wallet is a fast and easy move. Go to the home dashboard and press the plus sign. Then choose “Generate New Address” and name the new public key for convenience. You can leave it also empty and confirm the whole process by entering your passphrase. Now, the moment of depositing the required 20XRP has arrived. It is done after importing the address.

Send and Receive Assets

This is a rather easy and fast procedure. Got to the send tab in the interface of your Toast wallet and press the dollar sign. Now, choose one of your addresses, which will be used for the transaction. Don’t forget to place the recipient’s public key in the “To Address” field. Toast wallet offers another way to do all that, by just scanning a QR code, containing all the information required for a data transfer. When the amount is filled in click the pay button. Receiving XRP is also smooth. Here all you have to do is give your public address or QR to the sender.

Hint: Before sending any assets, doublecheck the addresses. The process is irreversible so be careful.

Backup and Restore

Backup

Step

Install and deposit first

After the installation is done, the wallet will ask you to do a backup by creating a few passwords. You can also do that later on as well, from the settings.

Step

Save your encrypted backup

The encrypted backup is provided by the wallet’s software after pressing “backup wallet”. Make sure you save this text in a secure location. Backup when you create a new account, change the PIN or the passphrase.

Restore

Option

Install and restore wallet from the backup code

Once you launch the Toast wallet, you will have two options – create new and restore. When choosing the second one, a new screen will open. Place the backup code in the required field and continue the restoring process.

Option

Restore existing account or wallet from backup code

Restoring existing wallets is just as easy. When adding a new address, go to the restore menu. There, place the address you want to restore and use the recovery phrase when required by the software in order to confirm the action. Bear in mind, that such actions will wipe out your existing Toast.

Specific Functions

Toast wallet is a pretty basic and simple Ripple wallet. It offers just the basic functions for now. Stay tuned for any updates in that field.

Possible Issues and How to Avoid Them

The main issues that can occur are mainly due to not up-do-date software. For many users, the iPhones and iPads keep freezing, if you operate them with versions earlier than iOS 11. In case you get constant errors when trying to send some coins, even with the required 20XRP deposit in place, better check if the receiving address is activated. You can use an RPC Tool for such lookups. It will show you the status of the public key. To activate one, just send 20 or more coins to it. The network takes a fee for such transactions. Have that in mind when adjusting the amount.

03.FAQ

How Toast safely stores my data?

The tool uses PouchDB. The information is heavily encrypted and after that stored on the device you use. It is safe, because PouchDB never syncs with an outside server.
Can I backup my Toast with different wallet’s import?

Yes, you can. The Ripple import requirements must match the other client. Just use Add Account/Add Existing Account.
What should I do with lost or forgotten PIN and passphrase?

Take the recovery phrase, open the recovery icon next to the PIN field and use it for reset. The procedure for your passphrase is the same.
What do I put for a destination tag in my exchange?

When sending to your own address and not to a business one, use destination 0 or leave it blank. These tags are used by corporations to distinguish their clients.

04. About Toast

There is not much information about this project even on their official website. Toast wallet is created by a software start-up company called StarStone Limited, based in New Zealand. Even their website is not posting much related data. Well, they’ve revealed the director of the project at least – Richard Holland. I can say for sure, that the address is legitimate and StarStone shares a certificate for the company creation in July 2017. The company is real and on the record.

Toast on Social Media

Even with not so much information about the team and the company, Toast is active on the social media. They realize the importance of having an online presence and keeping the users informed. Here is where you can find them:

Twitter

Discord

Facebook