More than 2000% in the last year
Litecoin is a peer to peer cryptocurrency that makes transactions faster and cheaper than Bitcoin. Each litecoin block takes 2.5 minutes while the Bitcoin block takes 10 minutes.
Litecoin has grown more than 2000% in the last year and is constantly increasing. Since its inception, Litecoin has managed to be among the 5 best cryptocurrencies in the world.
So, if you already have Litecoins (LTC) or plan to buy some in the near future, this publication should read. Here I will give you detailed information about the best Litecoin wallets where you can store your LTC safely.
What is a Litecoin wallet?
A Litecoin wallet or wallet is an interface that allows you to send and receive your Litecoins safely.
There are different types of purses that focus on security, while some others are easy to use but compromise security. Some wallets allow you to check your transaction history instantly, while others need to connect to their respective portals / sites to check history or manage funds.
What makes a Litecoin wallet or wallet safe
The safest wallet is the one with the private keys or provate keys. If you store your LTC in a place where you do not have private keys, then, in case of a hack, you could lose your Litecoins.
A secure wallet must meet these conditions:
- The wallet should allow you to own the private keys.
- It should have a simple user interface.
- It should be compatible with various devices and operating systems.
- It should be affordable.
- There should be an active team of developers or the company should be respectable.
- You should have a reliable way to backup and recover coins
The best Litecoin wallets 2017
Ledger Nano S
It is one of the most popular and secure wallets currently available in the market.
Ledger Nano S is a hardware wallet which means that it has the private keys of the wallet, so your Litecoins are very safe.
It must be configured when you use it for the first time. You must set a password (private key) and then you will get a phrase of 24 words that must be stored securely.
Ledger Nano S comes in a stainless steel body that makes it robust and attractive at the same time.
If you have several other cryptocurrencies, Ledger Nano S allows you to store them as well.
Currently, Ledger Nano S admits 9 cryptocurrencies, these are:
- Ethereum / Ethereum Classic
Exodus Desktop Wallet
If you are looking for a Free Litecoin wallet, then you should try Exodus, which is also my favorite desktop wallet.
It is absolutely free to use and is extremely safe. You can use it on your computer (Mac, Windows and Linux).
Exodus has a very attractive user interface that you will surely love. It can store several other currencies in cryptography together with Litecoin and also allows to verify the portfolio in real time through a pie chart.
It allows you to change your cryptocurrencies instantly through Shapeshift.
To use it you must download Exodus on your PC and then configure it. You will get a 12 word initialization key that would be necessary if you want to restore / recover your wallet in case your computer gets damaged. Being a desktop wallet, private keys will be stored on your desktop.
The Exodus team is quite active and you will instantly get the solution in case you have problems.
This is another hardware wallet called Trezor. This is the first HD wallet that came up.
Trezor allows you to store Litecoin safely in a small device. It has a small OLED screen that shows your 9-digit security code every time you want to access it. It also has a 24-word key seed that you would need in case you want to restore it.
In addition to Litecoin, Trezor allows you to store another 6 cryptocurrencies:
- Bitcoin – BTC
- Ethereum – ETH
- Ethereum Classic – ETC
- Dogecoin – DOGE
- Dash – DASH
- Namecoin – NMC
- Zcash – ZEC
Being the oldest player in the industry, Trezor has a great reputation.
Jaxx is a Multi-currency wallet that allows you to easily manage your cryptocurrencies on mobile and desktop devices.
It is compatible with 13 cryptocurrencies and allows exchanging currencies with Shapeshift. This is a surprising feature for those who like to make a profit by converting one cryptocurrency into another.
Being an HD wallet, it provides a 12-word seed key that you must store safely. As you have private keys, this wallet is quite safe to store your Litecoins.
You can use Jaxx on iOS, Android, Mac, Windows, Linux, Chrome and Firefox extensions.
Note: Many users have reported several problems and also have a low rating on Google Playstore.
If you have a large amount of Litecoins and want to store them for a longer period of time, you should consider Litecoin Paper Wallet at Liteaddress.org.
Your private key and public key will be printed on paper and you will have to store it in a safe place.
Unlike hardware purses, this is one of the cheapest and safest ways to store your Litecoins offline.
Tip: make sure you make 2-3 copies of your paper wallet and store them in a safe and secret place.