About Litecoin { LTC }
Litecoin is a decentralized currency used globally and permits the users all over the world to make payments in an instant and immediate manner. It is operated on the technology of blockchains and does not have any centralized authorities. Litecoin has an enhanced efficiency and provides security. It offers complete financial control to the users and allows quick transactions.
Litecoin has grown over 1500% in last 1 year and is still increasing steadily. Since its inception, Litecoin has managed to be in top 5 cryptocurrencies in the world.
Litecoin Wallets
Cryptocurrecnies are stored in the wallets all across the world. These wallets may either be in the form of programs or some hardware device. In other words, these wallets may be hardware as well as software. Wallets may also in the form of offline applications and online web-based applications. Different kinds of wallets offer different levels of security to the users. Wallets can be created, bought, and downloaded. Cryptocurrency wallets offer the great security to the users along with allowing them to buy and exchange their litecoins. The developers of the Litecoin have also developed wallet exclusive to litecoins.
Top 5 Litecoin (LTC) Wallets
1. Ledger Nano S(Hardware Wallet)
Ledger Nano S is one of the most popular and secure wallets currently available in the market, and it supports Litecoin.
Ledger Nano S is a Hardware wallet. This means that you own the private keys of the wallet thus your Litecoins are extremely safe.
It comes with an inbuilt OLED screen and in a stainless steel body, which makes it robust and attractive at the same time.
This wallet needs to be configured when it is used for the very first time. You need to set a password (Private Key) and then you will get a 24-word phrase (Seed Key). This Seed Key will be required if you forget your Password, which means that you need to store this Seed Key safely. There will be no way to access your wallet ever again if you lose this Seed Key.
Tips : Make 2-3 copies of the seed key and store them in safe places.
Ledger Nano S comes in a Stainless steel body which makes it robust and attractive at the same time.
If you own various other cryptocurrencies, Ledger Nano S allows you to store them as well.
Currently Ledger Nano S support 9 cryptocurrencies, these are:
- Bitcoin
- Ethereum/Ethereum Classic
- Litecoin
- Ripple
- Dash
- Dogecoin
- Stratis
- Zcash
- Komodo
It costs around $65 but its worth if you want to store your currencies without any worry.
2.Trezor(Hardware Wallet)
The Trezor wallet was born in a Czech Republic-based company known as SatoshiLabs, making it the world’s first HD wallet that came into existence, and being the oldest player in the industry, Trezor has a huge reputation.
Along with Litecoin, Trezor supports 6 other cryptocurrencies, including:
Trezor has a small OLED screen which shows a randomly generated nine digit pin code every time you want to access it. There is also a 24-word recovery seed to keep your funds safe in an offline environment. You will need this seed in case you wish to restore the wallet.
Trezor is a very light and portable device, similar to the Ledger Nano S, but is a bit more expensive and costs $99.
It is available in 3 colors – white, black, and gray.
3.Exodus Desktop Wallet
This wallet is absolutely free to use and is extremely safe. The only drawback is that you can use this only on your computer(Mac, Windows and Linux).
Exodus has a really attractive User Interface which you will surely love. You can store various other cryptocurrencies along with Litecoin and also check the real-time portfolio through a pie-chart.
It allows you to exchange your cryptocurrencies instantly though Shapeshift.
You need to download Exodus on your Desktop and then configure it. You will get a 12-word seed key which would be needed if you want to restore/recover your wallet in case your computer gets damaged. Being a Desktop wallet, The private keys will be stored in your Desktop itself.
Exodus team is quite active and you would instantly get the solution in case you face any issues.
4.Loaf Wallet (iOS Only)
If you are an iOS Mobile user, then here is the best way to store your Litecoins on your Mobile.
Loaf is a Moible only Litecoin Wallet. This wallet has been developed by Charlie Lee, the founder of Litecoin.
This wallet is backed by Litecoin Association and has a group of active developers behind it. Loaf wallet also allows you to directly purchase Litecoins from Coinbase instantly.
This is a Free Wallet and is only available for iOS users.
You will get a 12-word seed key which would be used if you restore your Mobile.
5.Liteaddress(Paper Wallet for Litecoin)
Litecoin Paper Wallet is perfect for those who have a large amount of Litecoins and want to store it for a longer period of time.
If you are comfortable using paper wallets, you can make one at liteaddress.org. You can go this website and create your pair of private/public keys, and you need to store it in a very safe place.
Unlike Hardware Wallets, Litecoin Paper Wallet is one of the safest and cheapest ways to store your Litecoins offline. However, if you don’t know how to properly handle a paper wallet, this can be tricky and a little bit risky.
Important Note: It’s highly recommended to make 2-3 copies of your Paper wallet and store them in a safe place.
When selecting a wallet for any of your digital currencies, you need to make sure that you are very careful and go with a trusted and transparent company. There have been numerous Bitcoin scams that have resulted in people losing thousands, and even millions of dollars worth of Bitcoins. Occasionally, people try to save small amounts of money by selecting less transparent wallets with cheaper fees. Unfortunately, attempts to save pennies sometimes result in people losing huge sums of money.
[su_quote]Quote This article is writing on 08 June 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258[/su_quote]
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