Create or import an on ledger "account" to send and receive XRP and other currencies.
An "Account" in the XRP Ledger represents a holder of XRP and a sender of transactions. The core elements of an account are:
An identifying address, such as rf1BiGeXwwQoi8Z2ueFYTEXSwuJYfV2Jpn (Note: the XRP community has proposed a new X-address format)
An XRP balance. Some of this XRP is set aside for the reserve
A history of transactions that affected this account and its balances
You can import any existing XRP ledger account into XUMM by importing the mnemonic words, secret numbers or family seed (aka "Secret") when adding an account at the first start of the app, or in the Settings panel.
If you don't have an existing account yet, XUMM can generate your "secret numbers" for you and derive your account. You will have to deposit the XRP ledger reserve of 20 XRP to this account for it to become active.
As XUMM offers non custodial wallet functionality XUMM and its creators CAN NEVER access your funds, nor recover them! You are fully responsible of keeping your account secret BACKED UP IN A SAFE, OFFLINE PLACE.
The XRP Ledger applies reserve requirements, in XRP, to protect the shared global ledger from growing excessively large as the result of spam or malicious usage.
To submit transactions, an address must hold a minimum amount of XRP. You cannot send this XRP to other addresses. To fund a new account, you must send enough XRP to meet the reserve requirement.
The current minimum reserve requirement is 20 XRP. Each new account must set aside this much XRP, which cannot be recovered or sent to others.
The 20 XRP reserve is not a requirement by XUMM, but a characteristic of the XRP ledger.