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Today we are going to talk about “5 Best Litecoin Wallets (Reviewed)”. The rise of Bitcoin has led to the creation of more cryptocurrencies. As more cryptocurrencies are created, one cryptocurrency that tends to steal the interest of cryptocurrency users is Litecoin. This cryptocurrency is an open source digital currency. Litecoin also happens to be the world’s first altcoin. It has managed to be one of the most consistent digital currencies with a steady growth and potential. Its steady growth has attracted the interest of more users and investors who seem to be buying into the idea of this cryptocurrency.
Overview of Litecoin Wallets
Litecoin is a cryptocurrency that is based on the peer-to-peer system. Litecoin is open source software released under the MIT/X 11 license. Similar to other cryptocurrencies, no central authority controls Litecoin as it is built on a cryptographic protocol. Litecoin, which was inspired by Bitcoin was launched with some technological advancements in Bitcoin. Its technical advancement tends to outwit not only Bitcoin but also other popular cryptocurrencies. Litecoin comes with technical advancements like the use of segregated witness and lighting system. These features enable the processing of a lot of transactions at a given time. Litecoin also comes with almost zero percent transaction cost, and it carries out payments nearly four times quicker than Bitcoin. The above clearly explains what Litecoin entails. As a user, you are required to have a Litecoin wallet, which you can use to store your Litecoin.
Sponsered Content: [
Rahakott is a cryptocurrency wallet that allows anyone to send or receive digital currencies and to monitor their balance. You can use the wallet to monitor your balance online from anywhere. There is no need to log in to Rahakott with your e-mail address, telephone number or an username: you simply enter a mnemonic phrase.
The Rahakott Wallet was introduced on November 12th. ]
Features of A Good Litcoin Wallet
When choosing a wallet, there are some important factors to note. For instance;
- When picking a Litecoin wallet, make sure it gives you full control of your wallet by allowing you to be in charge of your private keys.
- Your wallet should have an easy to use interface. No one likes a complex wallet with a hard to use interface. Therefore, for good user experience, make sure you pick a wallet that is easy to navigate.
- Your wallet should have a backup and restoration feature. This is essential for the safekeeping of your information.
- Your wallet should work across several devices or systems.
- More so, it should have a good help center for users.
- Endeavour to read the reviews of your preferred wallet.
- Before going ahead to purchase the wallet, read the terms and condition page.
Top 5 Litecoin Wallets
The above rules will help you decide carefully on which wallet to choose. Nevertheless, you should definitely check out these five best Litecoin wallets! They are:
- Ledger Nano S
- Loaf wallet
Ledger Nano S is a popular wallet that is suitable for all types of digital currencies this includes Litecoin. This is a suitable hardware wallet that allows users to store their Litecoins. It comes with several features, which includes;
- Ledger Nano S has a built-in display for its users.
- It has a good security
- It comes with multiple apps for its users’ convenience
- It has backup and restoration features
- More so, Ledger Nano S allows users to store different cryptocurrencies. It supports currencies like; Bitcoin (BTC), Ethereum or Ethereum Classic (ETH or ETC), Litecoin (LTC), Ripple (XRP), Zcash (ZEC), Dash (DASH), Dogecoin (DOGE), Montero (XMR), Stratis ( STRAT), Komodo (KMD) and so on.
Therefore, if you want a reliable and reputable wallet, you could try Ledger Nano S as it keeps topping the charts.
Trezor is a hardware wallet founded by SatoshiLabs. It is the world’s first cryptocurrency hardware wallet, and it supports over six digital currencies including Litecoin. Trezor comes with a secured cryptocurrency wallet for Litecoin, Bitcoin, Dash, and Zcash. It has the following features:
- It allows you store your digital currencies on one device.
- It has a good password manager that enables users to encrypt passwords separately.
- Make use of the next-generation password management application and easily synchronize your password to your private cloud.
- Trezor also has a secure admin SSH feature that allows users to protect the entry to their servers or website administration.
- It gives users the ability to protect their online accounts and information by enabling the FIDO feature.
- Another good feature is that Trezor encrypts each document, email or data.
- Users can also login with just a click, no need for passwords.
- More so, a user is allowed to connect his/her Trezor to third-party wallets or services.
Trezor is a good option for users who want a light, portable and easy to carry hardware wallet
Exodus is a free desktop wallet that supports Litecoin and seven other cryptocurrencies. JP Richardson and Daniel Castagnoli developed Exodus. Exodus has a user-friendly interface with personalization features. It has a good security system that allows users to encrypt their private keys. It has an instant recovery feature that helps users restore their wallet. More so, it is created with an inbuilt ShapeShift converter designed especially for users who make use of multiple cryptocurrencies. For now, Exodus is compatible with Linux, Mac, and Windows.
4. Load wallet
This is the first standalone IOS wallet built specifically for Litecoin. It is a wallet that can be downloaded free from the Apple App Store. The founder of Litecoin, Charlie Lee, developed loaf wallet. It comes with several features such as;
- Good Security: Loaf Wallet makes use of AES hardware encryption, app sandboxing, code signatures and keychain to help secure its users Litecoin from any form of malware.
- It comes with a simple codebase that makes it fast and light for users yet being user-friendly and fast in its performance.
- LoafWallet is safe to use as users can have access to their account by using a backup phrase. This backup and restore feature helps the user to make sure that a person’s account can be retrieved on time.
- LoafWallet has the ability to connect directly to the Litecoin network in other to provide a user with a powerful performance.
- More so, Litecoin has an open code that is available for users to view. There are no hidden codes.
- Using Loaf Wallet, a user does not have to worry about any server being hacked as Loafwallet does not have a server that can be Hence, a user can access his/her money anytime.
- Another good feature of this wallet is the fact that it easily and quickly imports a user’s present Litecoin wallet to an existing wallet.
Overall, Loaf Wallet is a good option for Litecoin users, but unfortunately, it is only available to users using iPhone as it is yet to support the Android device.
The Electrum Litecoin wallet is a lightweight desktop wallet. It has good security measures alongside a two-factor authentication. It supports hardware wallets such as Ledger, Trezor, Keeps key, etc. It has features such as;
1. Electrum wallet has a private key encryption feature.
2. It has a good account recovery function.
3. It is based on fast servers.
4. Electrum wallet has the ability to export private keys.
5. It has decentralized servers hence, no downtime.
6. It verifies all transactions.
7. It has the ability to keep private keys offline etc.
In summary, there are many Litecoin wallets for users. Most of these wallets support other cryptocurrencies, therefore; it will be wise to go for such wallets. The wallets are above were picked based on their reputation, security, reviews, interface and every other feature.
You may like to read about: 9 BEST LITECOIN FAUCETS 2018 (FREE – LITECOINS)