While being in the crypto space keeping your cryptocurrency safe stands in the first place amid other rules. Here at Changelly, we are constantly trying to provide you with comprehensive educational articles so that you can stay updated on crypto essentials.
Litecoin (LTC) is currently ranked as number seven global cryptocurrency in terms of market capitalization (according to coinmarketcap). The LTC cryptocurrency is recognizable outside the crypto industry and continues to gain momentum. Therefore, we’ve decided to observe the best Litecoin wallets to use in 2020.
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Litecoin (LTC) Cryptocurrency Basics
If we consider Bitcoin (BTC) as the ‘digital gold’, then Litecoin can be named ‘digital silver.’ It all started in 2011 when a former Google employee Charlie Lee decided to create a digital currency with greater maximum supply (84 million LTC vs. 21 million BTC) and a blockchain that would have faster transaction throughput and block creation (2.5 minutes per block vs. 10 min/block in Bitcoin). Still, LTC is a derivative of BTC. It can’t be viewed as an absolute hard or soft Bitcoin’s fork due to certain characteristics, yet its code is definitely a fork of BTC.
LTC reached its highest price on December 23, 2017, when it hit $375 per 1 LTC. The price has been fluctuating drastically during 2018, but the coin could survive the crypto winter. As of June 29, Litecoin (LTC) price is $41.37, with a market capitalization of over $2.6 billion.
Best Litecoin (LTC) Mobile and Desktop Wallets
Freewallet family of digital wallets is a safe and convenient way to store, receive, and exchange over 100 cryptocurrencies.
Instant and fee-free transactions (within the Freewallet ecosystem), multi-lingual support, and a feature that allows you to buy cryptocurrency with a bank card instantly make Freewallet a wise choice in terms of solid crypto wallets.
LTC Freewallet doesn’t require you to make a backup or synchronize the blockchain with the wallet – the team of Freewallet has already taken care of it. Download the wallet from AppStore and GooglePlay for iOS and Android devices respectively, and keep your LTC safe.
Coinomi is a cryptocurrency wallet trusted by millions of users around the globe. With a native interface and convenient design in mind, Coinomi enhances users’ experience while allowing for an efficient and transparent way to manage digital assets.
Send, receive, and exchange Litecoin within a single digital wallet, and don’t worry about the security of your LTC funds. Due to strong encryption and cryptography, your assets will remain safe and sound. Private keys will never leave your device, bringing an ultra-secure way to store LTC. The wallet is available for iOS and Android mobile devices.
The Coinomi desktop application has the same features as its mobile version but seems to be more completed somehow. Once the app is installed, you can sync your mobile Coinomi wallet with the desktop one. Track all your transactions on a screen of your PC. The application is available for three major operating systems – Windows, macOS, and Linux.
Exodus is a reliable mobile and desktop wallet that provides not only smooth and smart design but also a dedicated 24/7 support, live-charts to track your favorite currencies, and a high standard of cryptocurrency security.
Storing LTC in Exodus means you can manage your assets wherever you are – the team behind the project is constantly upgrading the digital wallet to eliminate any vulnerabilities. The wallet is compatible with the Trezor hardware wallet allowing users to manage LTC cryptocurrency.
It is highly recommended to use a desktop version of Exodus when working on your PC. The wallet provides an intuitive interface and multiple tutorials on setting up the wallet. Even if you never trade on a real cryptocurrency exchange, Exodus helps you to swap LTC and other cryptos in just several clicks. The next release of a desktop application is scheduled for July 2, 2020. Available for Windows, macOS, and Linux.
Best Litecoin (LTC) Web Wallets
Please take into account that web wallets are considered to be a convenient yet less secure way to store cryptocurrency. Online wallets are easier to be compromised and hacked.
According to the name, LiteVault aims at bringing the safety of a vault and the efficiency of an online digital wallet.
LiteVault does not store your private keys, which means the platform is unable to access your funds. The project is open source so that anyone who wants to inspect the lines of code can do that on GitHub.
When using this LTC web wallet, users do not need to download the complete Litecoin blockchain, thereby reducing the time of a full set up of a wallet (currently takes less than 10 minutes).
Best Litecoin (LTC) Hardware Wallets
A never-ending struggle between Ledger Nano and Trezor is truly spectacular and makes both companies moving forward rapidly. In the effort to attract as many users as possible, Trezor and Ledger Nano work hard to bring the best hardware devices to store Litecoin (LTC) and hundreds of other cryptocurrencies.
Ledger Nano X/S
Ledger Nano is a constant participant in our articles. Bringing a high level of security, an opportunity to store over 1,000 digital assets, and a compact way of cryptocurrency storage, Ledger Nano X/S is a must-have device in 2020.
Both models Ledger Nano X and Ledger Nano S allow users to store LTC safely and in a stylish manner. As a bonus, Litecoin (LTC) is one of 26 crypto coins supported by Ledger Live. The feature enables a seamless cryptocurrency purchase, cryptocurrency staking, and much more. Manage your LTC while being assured about its security.
Another safe place for your cryptocurrency storage, in general, and Litecoin (LTC) in particular is Trezor. A small portable device reveals an intuitive design and a highly secure way to store LTC.
Trezor enables an offline backup feature meaning you can recover access to your funds in case of a device’s loss. When it is set up for the first time, the wallet creates your personal 12 to 24 words long recovery seed. This digital wallet perfectly works for crypto newbies and for those who want to be absolutely sure about the safety of their coins.
Best Litecoin (LTC) Paper Wallets
A cryptocurrency paper wallet is a piece of paper with a public/private/QR code printed on it. Surprisingly, it is one of the safest options to store any digital asset, including Litecoin (LTC). It stores cryptocurrency offline (cold storage) so that the wallet is almost impossible to be hacked (unless you purposely compromise it).
However, a paper wallet has to be treated like the dearest thing which it actually is. Once damaged/ripped into pieces/… you won’t be able to recover access to your funds. It is highly recommended to laminate your paper wallet and store it in a safe and dry place.
How to Set up a Litecoin (LTC) Paper Wallet?
Regardless of a cryptocurrency for which you want to create a paper wallet, the safety rules are as follows:
- Check your device with antivirus software. Make sure your computer/mobile device lacks malware programs;
- Download a paper wallet generator and repeat step 1;
- When the generator is downloaded, turn off your Internet connection;
- Generate an LTC paper wallet, write down or print your public and private keys;
- Delete your recent browser cash and scan your device with antivirus software once again;
- Here is a paper wallet that stores your LTC funds in a cold/offline way.
The best services to generate Litecoin paper wallet are:
We kindly remind you that before trusting your LTC or other funds to any digital wallet, do not forget to do your own research. All the LTC wallets collected above have a decent reputation and provide flawless service. We hope our readers can find the perfect digital wallet to store LTC in 2020, as it seems Litecoin is aiming to strengthen its positions.
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Changelly is a non-custodial instant cryptocurrency exchange service that acts as an intermediary between crypto exchanges and users, giving the latter an opportunity to exchange over 160 cryptocurrencies at the best market rates. Changelly offers its API and a customizable payment widget to any crypto service that wishes to broaden its audience and implement new exchange options.