What is Litecoin?
Litecoin is a global payment network. It is open source and fully decentralized. This means that the authorities or the creators have no control over it. The currency is traded on most digital exchanges. And even reached a higher circulation of coins than bitcoin.
It takes 10 minutes to confirm a transaction on the Bitcoin network, while it takes 2.5 minutes on the Litecoin network. Also, due to the speed of transaction confirmation in Litecoin, you can perform a larger number of operations.
This cryptocurrency appeared in 2011. Thanks To Charles Lee. But it should be noted that he created it not to replace Bitcoin, but to become an additional means of payment, a kind of silver. The project team is doing everything possible to ensure that LTC meets the mission of fast and convenient transactions. In addition to the development of the network, the number of sites that support payments in this cryptocurrency is constantly growing. And along with this, the capitalization rate of Litecoin also increases.
Also, this is the only alt-coin that has increased in price by 2000% of the initial cost.
Why do you need a Litecoin wallet?
If you are thinking about buying Litecoin, first of all set out to find a secure wallet where you will store your funds. There are a lot of options on the market. Every year there are more and more good and high-quality wallets, but you should be very picky in your choice. Because the security of your cryptocurrency depends on it.
Read more: Litecoin Price Predictions 2020-2025
There are different types of wallets. This can be a physical device, an app, an online service, or even a browser extension. All of them offer users different levels of protection and various features that go beyond just storing cryptocurrency. They also differ in the interface and the storage type.
First of all, you need to specify what requirements you need to apply to the wallet where you plan to store your cryptomonets:
- Ability to create and control private keys.
- Ability to store various cryptocurrencies.
- A well-known and open development company that works to improve the product.
- Simplicity and convenience of the interface – few people want to understand for a long time how even such an important service works.
- Support for different devices and operating systems.
- The possibility of recovery.
- There should be an active developer community.
- 24/7 support.
We analyzed many wallets for all these factors and made a selection of the best options on the market. Watch and choose the best Litcoin wallet for yourself.
#1 Ledger Nano X hardware wallet
If you are looking for the most reliable and easy-to-use wallet, then a hardware device will definitely suit you. The best, most affordable and convenient of them is, of course, the famous Ledger Nano S.
We recommend purchasing this particular wallet for those who have many different cryptocurrencies. Or you plan to invest in cryptocurrency in the near future. Since this wallet will provide you with the highest degree of reliability: it is managed offline and allows you to personally control your own keys – without any connection to online services or systems. If there are problems with your device, you can always restore data using a pin code.
Ledger Nano S is one of the most versatile wallets that supports more than 1000 currencies. The device resembles a flash drive with an OLED screen. The small display shows all the details of the transactions that are taking place. It helps users to confirm and process the events of the transaction.
#2 Jaxx wallet
The Jaxx wallet has been developed since 2014 by the canadian company Decentral Inc. Anthony Di Iorio, who created the wallet, is also the co-founder of the Ethereum blockchain, which you have definitely heard about more than once.
We can safely recommend it to both beginners who are just beginning to understand the world of cryptocurrencies, and those who have been investing in this industry for a long time. All analysts call it one of the best repositories for Bitcoin and Ethereum, of course. But these are not the only cryptocurrencies that the wallet supports. This is a great store for Litecoin and several dozen other currencies.
A multi-currency wallet is very convenient because this way you can store all the currencies you are interested in one place.
Other important benefits. The wallet is available on both mobile devices and computers. Supported by various operating systems.
Read more: Software Wallets for Cryptocurrency
Simplicity and conciseness of the interface is an important goal of developers. They are constantly trying to improve it to make it even more convenient and easier to use. That is why we recommend that beginners first pay attention to this option.
You can absolutely not worry about the safety of funds and data in the Jaxx wallet.
The wallet gives you a standard 12-word key for such programs when you install it. It is available only to you and no one else, so the ability to access your wallet depends mainly on its safety. Do not pass it on to third parties, do not tell anyone and, most importantly, keep this combination separately from the device where the wallet is installed, but in an accessible place.
#3 Litecoin Core
The most important and indisputable advantage of this wallet is that it is an official currency wallet. It was developed and maintained by the same company that created Litecoin. That is why a huge number of users, both beginners and large investors, trust their funds to this wallet.
They took a responsible approach to creating a wallet that is primarily intended for their own product. The developers have provided a high level of security using private keys. Another advantage that you will definitely appreciate is that the wallet is free. You only pay a Commission for transactions if you make them inside your wallet.
To install it, you will need to download the entire blockchain network, so you will need time and about 17 gigabytes of free space on your device.
The wallet has a built-in third-party, but very high-quality ShapeShift Converter for buying or exchanging currencies.
#4 Exodus wallet
In any selection OF top wallets for Litecoin and other major cryptocurrencies, you will find Exodus. This is due to the excellent combination of various characteristics and functions.
It is often singled out among others in terms of ease of use. Of course, over time, there are more and more such convenient wallets, but developers are trying to develop and actively support the wallet so that it continues to be in the leaderboard. It’s also important to note that they did a good job on Exodus security. It also uses a 12-word secret key system for data protection and recovery.
Other advantages: free, multi-currency, has one of the most beautiful, stylish and interesting interface designs and incredibly fast support from developers.
#5 Atomic wallet
Atomic is a software wallet. In other words, this is not a separate device, but a written program. Atomic Wallet offers users a great combination of features. Important benefits:
- It is supported on all major operating systems. You can install it and use it on any convenient device.
- Of course, it supports Litecoin, but also 300+ other cryptocurrencies.
- You can store, exchange and buy them in the convenient wallet interface.
- It is multi-currency, multi-platform, affordable and secure enough.
The Atomic Wallet system stores all private keys on your personal device. All data is well protected by a password that you create yourself when installing the program. This is a 12 – word phrase. Important: save this combination of words.
Read more: How to secure your cryptocurrencies
Your funds are controlled only by you, private keys are created and stored only on your device and are never transferred to the outside, which ensures maximum security. Neither the developers nor hackers will not be able to get your data.
It should also be noted that this is a completely free program that does not charge fees for storing currency. You can also quickly exchange Litcoin for other currencies.
How can you get Litecoin?
Platform Godex.io – one of the easiest, fastest, most reliable and convenient ways to buy or exchange XMR. We provide you with the highest service and the opportunity to trade more than 200 cryptocurrencies. You will also get one of the most favorable rates for buying, selling or exchanging on our platform.
We guarantee you absolute security of your funds, as well as complete anonymity. The reliability of the service is provided by the most modern security protocols and physical protection of servers.
Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.