If you don’t already know, Litecoin is the world’s first open source P2P altcoin that has consistently stayed at the top of market capitalization since its launch. It is also considered one of the safest digital cryptocurrency to invest in among its other peers. This is why many cryptocurrency investors are beginning to store more of LTC lately.
Storing cryptocurrencies in general is something that is very usual in the cryptocurrency world, but what seems to be very tough is choosing the best, reliable and fast wallet to use in storing digital coins like Litecoins.
That’s why I’ve written this post content to assist you in the quest to choose the best Litecoin wallets for easy of access and good security level.
Before we move further into the subject of matter, let me refresh your mind on the characteristics of good Litecoin wallets.
Major Cryptocurrency Wallet Characteristics
- The wallet must be very secured
- The community for the wallet must be very active and reputable
- The wallet must be able to backup and restore private keys
- It must be navigate able (ease of access and usage)
- It has to support many operating systems and gadgets
- You must have full control of your private keys.
Now that you have been enlightened on the characteristics of good LTC wallets, let me dive into listing out all the best wallets you can use to safely store your Litecoins.
List of the Best Litecoin (LTC) Wallets
Before i start listing all the wallets you should be using to store all your litecoins, may i use this opportunity to let you know that there are different types of wallets according to the nature and designs.
Hardware wallets: USB sized hardware devices designed specifically for storing cryptocurrencies, and can be used for any kind of transaction using different types of security measures. Usually, they have USB port for connecting and accessing them using personal computers. They securely keep all your private keys right inside themselves.
Software wallets: These wallets are normally installed on some kind of gadgets and devices like; personal computers, mobile phones etc. They store private keys on the device on which they’re installed.
Online Web wallets: This type of wallets are the wallets that only exists online. These are wallets that are hosted on third-party servers and you don’t have any control of your private keys. They control and keep your private keys on your behalf, which means that you may loose your cryptos if it turns out that there is a hack attack.
Paper wallets: They are wallets that allows you to print or write down your private keys on a spreadsheet or piece of paper. This type of wallet can be safe for long-term usage, but not for newbies, because you risk loosing your LTC at an instance if you don’t know how to keep paper wallet keys and details.
Knowing different types of wallets to store cryptos, let me go ahead and continue listing the best Litecoin wallets you should be using in 2018 till 2019:
This is a USB hardware wallet device that is mostly known to be the best for keeping and transferring Litecoins. It’s a popular multi-cryptocurrency hardware wallet which looks just like a USB flash drive. It has full support for LTC, BTC, ETH, ERC20 tokens as well as other altcoins.
It is one of the safest cryptocurrency wallets in the market, and it can run multiple applications, it’s unhackable, and also malware-proof. Using this kind of wallet, you don’t risk your private keys online, because it doesn’t need internet connection to store your cryptocurrencies. It can also use software wallets like, Jaxx mobile wallet.
Lastly, it has an OLED screen to check transaction details during cryptocurrency transfers. Check out Ledger Nano S
Trezor is yet another hardware wallet that can store your cryptocurrency investment in offline mode. It’s designed also like a USB hardware device. It supports multi-cryptos.
Trezor is protected by PIN and also provides you with seed recovery phrase words if it happens that your trezor wallet gets stolen or lost. Basically, this hardware wallet is made specifically for storing bitcoins, but support for 30 other altcoins were added to it, including LTC.
It has an LED screen just like Ledger, and it’s totally safe from hack attacks or thefts due to its difficult protection PIN. The downside is that it has limited compatibility to other softwares and when it’s not connected to any device.
Check out Trezor wallet on the official website.
Exodus (Desktop software wallet)
Exodus is one of thw best desktop software wallets which supports multiple cryptocurrencies including Bitcoin, Dash, Ethereum, ZCash as well as all others. It is a lightweight wallet in such a way that you don’t need to store the whole blockchain in your personal computer.
It has a nice user-interface that gives you full control of any transaction detail on the cryptocurrency network. You can select transaction fee by yourself.
Litecoin Core (Desktop software wallet)
It is a totally free desktop LTC wallet that stores your private keys in your personal computer. It also has support for many operating systems like; Windows, Mac OS and Linux.
The con of this wallet is that it needs to download the entire blockchain, and that can take upto 4 days as the core wallet syncs with the entire blockchain as a full node. It not only takes time, but also takes a lot of disk space.
Electrum – LLC (Desktop software wallet)
If Litecoin Core wallet seems very heavy for your personal computer, you can try using Electrum lightweight wallet.
Electrum-LTC is a lightweight LTC desktop wallet which doesn’t require you to wait for sync or download the entire blockchain in your computer for it to access your litecoin transactions. This wallet is SegWit enabled, it is also a HD wallet. It provides you with a feature to freeze a particular address (i.e. you no longer send funds using a particular address).
Jaxx (Desktop and Mobile software wallet)
Jaxx is a software wallet attracting users to its uniqueness as a selling point. It is based on simplifying the blockchain network.
Jaxx wallet is a multi-chain wallet which has support for multiple cryptocurrencies like LTC, BTC, ETH, BCH, ETC, REP etc. Jaxx gives you full access over the wallet and its 12 words seed phrase. You can even convert cryptocurrencies to another coin using the features integrated by ShapeShift.
Jaxx is one of the best software wallets that can store your cryptocurrencies in offline. It’s available for mobile phones, desktop platforms and Google Chrome extension.
LoafWallet (IOS-Only Mobile software wallet)
LoafWallet is only available for iPhone mobile phone users. This wallet is developed by Charlie Lee – LTC Creator. The free version is available on the Apple App Store.
The wallet is maintained by the Litecoin Association which is a passionate group of volunteers who want to promote LTC coins. LoafWallet is an open source HD featured wallet that allows restore of funds using 12-word backup phrase seed key. It has a feature to buy Litecoin directly from Coinbase.
LiteVault (Online Web wallet)
LiteVault is an online cryptocurrency wallet that is easy to use, very fast and provides free signup process. The source code is totally available publicly. All user’s wallets are fully encrypted before reaching the provider’s servers.
It allows you to have full control and access to your private keys. LiteVault does not support any other cryptocurrency but only LTC coins specifically.
Liteaddress (LTC paper wallet)
This is a Litecoin paper wallet which is good for storing a large amount of LTC for a long term period. It’s one of the cheapest, most secured offline LTC wallets. This is not for a baby boomer, as you need to know how to safe-guard paper wallets. Otherwise, it may be very tricky and expensive to use.
If you are interested in using paper wallets to store your LTC you can do so by registering liteaddress.org – Goto the site online and create your pair of private/public keys which you need to keep safely in a secured place, prolly a safe.
Final thoughts on Best Litecoin wallets
Litecoin having quite a good price rally, have had a slow growth until Charlie Lee returned as a full developer as well as activation SegWit. Since then, a lot of investors has been looking out for the best Litecoin wallets for atoring LTCs easily and safely.
If you wish to have Litecoin in your portfolio, i will suggest you first register on Changelly and exchange any amount of your bitcoin asset to Litecoin, and then store it with a hardware wallet. Meanwhile, keep your eyes on Doronize as i add more to this list if i find any good wallet in future.