This post will run through the best Litecoin wallets. We hope to give you enough options so you can choose the best wallet based on your needs.
Hardware wallets are the best choice if you need secure storage for your litecoins. If you are an investor, a hardware wallet will probably be the easiest way to secure your litecoins.
The Ledger Nano S is probably the most popular crypto hardware wallet at the time of writing. It costs about $70 and is sold by Ledger, a Bitcoin security company based in France.
The Nano S supports Litecoin, Bitcoin, Ethereum and many other coins. The device creates your private keys in its secure chip and stores your keys offline away from the internet.
The Nano S has a screen so it helps you verify and confirm all outgoing transactions, which provides additional security.
TREZOR is very similar to the Nano S, but is sold by Satoshi Labs. TREZOR was actually the first hardware wallet to have a screen, which provides extra security.
TREZOR will cost you $99 and ships from Europe.
For desktop, there are two solid choices for Litecoin wallets.
Electrum LTC is a fork of the Bitcoin wallet Electrum. It is available for Mac, Windows, and Linux.
Electrum LTC is a blazing fast wallet that works instantly after installation. Since it’s used on your computer, consider it a hot wallet and don’t store large amounts of bitcoins with it.
If you want to use Electrum LTC for large amounts, buy a hardware wallet as mention above like the Ledger Nano S or TREZOR and use that in pair with Electrum LTC.
The source code is available on Github.
Litecoin Core is the main full node implementation of Litecoin. It is the most private wallet and fully verifies all Litecoin transaction data, meaning you don’t have to trust anyone.
LoafWallet is made by the Litecoin Association and is a fork of the popular Bitcoin wallet breadwallet. It is currently available for iOS. It’s simple to use and has a very clean interface, making it a great choice for beginners.
The wallet can be used to store small amounts of LTC on your phone. But, since it is a hot wallet is should not be used for large amounts of litecoins.
Jaxx is a multi-currency crypto wallet for iPhone and iPad. It supports Litecoin and is fully open source. It should not be used for large amounts of litecoin, but is a great option for day-to-day use or accepting payments on the go.
Jaxx, as mentioned above, is also available for Android.
The Litecoin Wallet is another good option for Android and has been around for a while. It should only be used for small amounts of litecoin.
You can make a paper wallet for Litecoin, but it is very hard to do this correctly and securely unless you really know what you are doing.
You’d have to go to liteaddress.org and on an offline, secure computer and then print out the private key to create a paper wallet.
A paper wallet can be a cheap way to create a secure wallet if you can’t afford a hardware wallet. However, again, it is hard to do right so please do some searching on Google for how to make a secure paper wallet if this is something that interests you.
In this section we will aim to answer some common questions about Litecoin wallets and using Litecoin.
A Litecoin address is similar to your email address. It is a public string of letters and numbers that you can give to people. Other people who have access to one of your addresses can send you litecoin.
The easiest way to fund your Litecoin wallet is to buy litecoins and send them to your wallet. There is no wallet yet that allows you to buy litecoins from directly within the wallet.
There is no such thing as a Litecoin account. A Litecoin wallet is the closest thing to an account that exists in crypto.
If you are dealing with lots of LTC and invested in it, use a hardware wallet. If not, you can use a desktop or mobile wallet.
Definitely. Make many backups of your wallet if you are dealing with large amounts. Too many people have lost Bitcoin and other crypto currencies due to not making backups.
Also, NEVER store your litecoins on an exchange! Thousands of people have lost bitcoins in hacks. While much less litecoin has been lost like this, it is still very possible that this can happen. Especially since the Litecoin price is going up so much and the exchanges will become even bigger targets for hackers.
Most wallets today are developed for Bitcoin, simply because it has the most users and has been around longer.
We, however, expect many more Litecoin wallets to be released since the crypto industry as a whole is growing and Litecoin is still one of the most popular coins.