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When it comes to platforms as powerful as Xumm, it is normal for misinformation to circulate around some of its features and capabilities. Let's see if we can clear some of this up...
The native currency on the XRP Ledger is called XRP. XRP exists on the XRPL and can not be moved off of the XRPL so technically, XRP is always "stored" on the XRP Ledger. What Xumm actually stores is the private key to access your XRP Ledger account.
Once you enter your private key into Xumm, it is immediately encrypted and placed into an area secure location we call, "The Vault". There is no way for us to access the Vault remotely.
A custodial wallet is basically a customer account in a crypto exchange's company database. It is not an XRP Ledger account. Xumm is a self-custodial wallet. It stores the private key to access your XRP Ledger account.
There are many attack vectors for both cold and hot wallets and both types have their uses, their strengths and their potential weaknesses. Xumm was designed and coded by one of the strongest coding teams in the entire blockchain space and has been audited by one of the most advanced security audit firms in the world. We would argue that there is no safer wallet on the planet, either hot or cold, than Xumm.
No, the XRP Ledger is not a Proof of Stake network so there is no way to offer staking natively on the XRPL. Furthermore, there is no need to stake coins since the validation process is a cooperative based system, not a competitive based system. All fees charged by the XRP Ledger are destroyed so there is no way to generate "rewards" for users.