When diving into the world of cryptocurrencies, many of us do not think about one of the most important parts of the journey – the tool that will keep you safe along the way. What we are talking about is a cryptocurrency wallet. There is a decent number of Litecoin wallets out there, however, not all of them were created equal. ChangeNOW has made thorough research to help our clients in their Litecoin wallet lookup. With the information provided below, it will be easy to find the most trusted LTC wallet suitable for one’s needs.
What is an LTC wallet?
In the crypto world, a wallet is similar to a bank account. Users can store LTC safely, manage their funds, as well as receive and transfer the coins to other users using their LTC wallet address. Usually, a cryptocurrency wallet is an application, website or a device that manages your private keys via a special password. One must think carefully when choosing a wallet for LTC, as different Litecoin wallets are suitable for different tasks. Hopefully, this ChangeNOW article will answer many questions, from “What is the best wallet for Litecoin?” to “How does Litecoin wallet work?”. Without further ado, let’s investigate the top Litecoin wallets and how to use them!
Ledger – the best hardware Litecoin wallet
Ledger is a hardware cryptocurrency wallet that supports LTC along with a number of other popular coins. Currently, hardware wallet is the safest option for keeping your funds, as in this case your LTC is stored offline on a USB-like device. Every time you need to get access to your funds you have to plug your hardware Litecoin wallet to your computer, unlock it by entering the password and only then start working. You must be ready to purchase the device as it’s the only option to get a hardware wallet. Ledger offers several models depending on a user’s needs, and some of them (like Nano S) are quite affordable. All things considered, Ledger is a good Litecoin wallet to invest in if you are interested not only in security but also in convenience.
Liteaddress — the best paper wallet for Litecoin
If you are not yet interested in getting a hardware wallet you might try its cheaper alternative, a paper wallet. It’s also called an offline wallet. The best thing about a paper wallet is the simplicity of its creation. What you need to do is to go to a trusted website that creates paper wallets (like Liteaddress.org), spend some time randomly wiggling your mouse (or entering a random number — that adds to the security of the wallet address generation). What you get is two QR-codes with a public Litecoin wallet address and a private key to it. After printing it out (and clearing your browser history, just to be sure), you have a completely cold-storage way of keeping your funds for free!
Guarda — the best online Litecoin wallet
If you prefer to keep your funds at hand you should check out multi-platform online wallets like Guarda. Guarda is a user-friendly, lightweight and non-custodial cryptocurrency wallet. At the moment there are several Guarda products that support LTC, such as online multi-wallet and single currency wallet that are available through Desktop, Web, Chrome Extension and mobile wallets. On top of that, it’s completely anonymous and doesn’t require their users to share any personal information to start working.
LoafWallet — the best Android and iOS Litecoin wallet
The iOS version created by the developer of Litecoin itself, LoafWallet was the first iOS-only mobile wallet for Litecoin blockchain, and probably still is the most trusted. LoafWallet won over the community with several key features. It’s open-sourced and community-maintained. It’s an HD wallet which allows users to restore funds with a special backup seed key. It has inbuilt LTC purchases. It’s the best Litecoin wallet to have on the go!
Edge, multi-currency mobile wallet
Edge is a convenient multi-currency wallet available on iOS and Android platforms. The wallet supports the SegWit Protocol, in addition, right inside the application you can exchange Litecoin to other digital assets that are supported by the wallet: at the moment, there are 8 different cryptocurrencies and their forks. The user-friendly interface and high security standards make this application one of the best for storing several types of cryptocurrencies at the same time.