Litecoin is the world’s first open-sourced P2P altcoin that has maintained its positional consistency by market capitalization. A Litecoin wallet is a software application that allows you to store, send and receive your Litecoins in a secured way. Some of the Litecoin(LTC) wallets focus on security more, some focus on its easy-to-use features. Based on specific requisitions, people choose their wallets.
You must be knowing that the most secure wallet is the one whose private key is owned by you. Not holding your private keys might lead to a possibility of hack or theft.
Every crypto wallet should have the following characteristics:
Now, let's talk about the best wallets to store Litecoins:
Ledger Nano S is a USB sized cryptocurrency hardware wallet, which is best for Litecoin transactions. It is multi-asset hardware which looks like a folding flash drive. The best part is that it can store Litecoin, Bitcoins, Ethereum, ERC tokens and more than 30 other digital currencies. It works like a USB device, which when connected to the device needs the device to confirm transactions.
It is safe and can run multiple apps, relatively inexpensive, unhackable and malware proofed. It is a hardware wallet so there is no risk of the private keys to get exposed to the internet. This is one of the top LTC wallets available. It can support and store more than 30 cryptocurrencies and can integrate with multiple software wallets. Lastly, it is one of the affordable OLED-based hardware wallets.
Trezor is an offline hardware Litecoin wallet which also acts like a USB device, which operates on “Zero Trust Approach”, which minimizes the compromise by a third party. It is one of the best Litecoin wallets, protected by a PIN and provides you with recovery seed if your wallet is stolen or lost. It is specifically a Bitcoin wallet but supports 14 other cryptocurrencies. It is very compatible for Litecoin users. The recovery seed and the cross-compatibility feature makes it one of the most trusted wallets. It has an easy-to-use interface and saves from hacking and thefts by their difficult protection PIN. Just that it limits its communication with other devices. When the USB device isn’t connected, it’s turned off.
Free wallet is an online multi-currency wallet that supports multiple currencies like Bitcoin, Ethereum, and more than 30 crypto tokens, wherein it enables the free transaction between the free wallet users. You can even buy cryptocurrencies with the help of a credit card. It is not only a web wallet but its also available for mobile devices to download, such as iOS and Android. Free wallet provides some of the best features like multi-signature transaction confirmation, 2-factor authentication and many more.
Jaxx is relatively a new crypto wallet which believes in simplifying the blockchain and attracting the masses to its unique selling proposition. Jaxx is a multi-chain wallet which offers support for seven cryptocurrencies, namely Bitcoin, Litecoin, Ethereum, Dash, Ethereum Classic, Bitcoin Cash, REP and many more. Jaxx gives you full control over the wallet, which is highly accessible with desktop and mobile compatibility. It allows you to quickly convert between Bitcoin, Litecoin, Ethereum and DAO, and will also work for all the coins, the Jaxx developers integrate in the future. It has been tagged as one of the best Litecoin wallets app in the cryptocurrency wallet review. Its available in the form of a desktop app, Android and iPhone apps and Chrome extension.
Exodus is one of the best Litecoin desktop wallets which supports nearly three dozen cryptocurrencies including Bitcoin, Litecoin, Dash, Zcash, Ethereum among the popular ones. As Exodus is a lite wallet, you never have to store the entire blockchain in your desktop. Its said this Lite wallet is one of the best to store Litecoins. Exodus galore with its pros over its cons. It has a very good interface with good access to the wallet, i.e full control. Transactions over a crypto network can be made directly through the Exodus wallet. The transaction fee is paid to the network itself and not Exodus.
LoafWallet was the first Litecoin wallet for ios which was developed by Charlie Lee, the creator of LTC. Recently, it started off with its Android version, too because of the increasing number of Litecoin users for Android and is slowly becoming one of the best Litecoin wallet android according to the Litecoin wallets review. LoafWallet’s maintenance is being taken care of by the Litecoin Foundation. LoafWallet is an open sourced HD Litecoin wallet that allows the users to restore the funds by using 12-word recovery seed key. It’s inbuilt feature allow its users to purchase LTC via Coinbase. You can create both Litecoin wallet android and Litecoin wallet ios, it is available for both the devices. You can convert LTC to BTC from CoinSwitch at best rates.
Electrum LTC is the lighter version of the Litecoin core wallet and is also a desktop wallet and is regarded as one of the best Litecoin wallets online. The best part about Electrum LTC is that it doesn’t require you to sync the network, hence time taken is lesser than Litecoin core. As a deterministic wallet, Electrum- LTC provides with increased protection by allowing to create a 12 digit password and be able to freeze it once it gets hacked.
Lite Address is the paper Litecoin wallet which is perfect for those who wants to store a large amount of LTCs for a longer period of time. It is one of the cheapest and most secure alternatives to hardware wallets. But you have to know how to properly handle a paper wallet, otherwise, it might prove to be a bit expensive and tricky.
LiteVault is a Litecoin web wallet which is fast and easy to use and has a free sign up process, which takes not more than 10 seconds. LiteVault’s source code is publicly available, and all user wallets are encrypted before they reach the provider’s servers, which in turn, allows you to retain control of your private keys. This is specifically LTC compatible crypto wallet, which doesn’t support any other cryptocurrencies apart from Litecoin.
Litecoin core is the free Litecoin wallet for the desktop. So, once you start using it on your desktop, the desktop itself acts like the wallet and your private keys are stored there. It supports multiple operating systems,i.e, Windows, Mac and Linux. It takes some time, around 4 days as the core wallets sync with the entire blockchain as a full node. Not only time, it takes a lot of storage space also, so if you want to store any multi-currency wallet, you have to look for a different device.
CoinSwitch enables businesses to convert over 300 cryptocurrencies with our powerful Fixed and Dynamic rate APIs. CoinSwitch exchange APIs are being used by many top cryptocurrency wallets across the globe like Trezor, Exodus, imToken, Guarda etc. Are you interested in providing your users an option to exchange coins within the wallet? For more information please reach out to firstname.lastname@example.org or refer our API documentation.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through the global exchanges like KuCoin, IDEX, Changelly, Cryptopia, ChangeNow and Changer without creating an account on them. If you are interested in buying cryptos, do give it a try!