Top 5 Litecoin (LTC) Wallets By Type (Hardware, Paper And Software)

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Litecoin (LTC), the younger brother of Bitcoin, is a lot more stable and accessible by ordinary investors. It is not only more abundant than Bitcoin, but it has attracted more people towards it lately and the procedure of storing it in wallets has been the search of many search engines on the internet.

Litecoin Wallet:

Litecoin wallets work on a different pattern than traditional “pocket” wallets. They don’t hold actual currency; they just hold records of the transaction. There are software wallets, hardware wallets, and paper wallets as well.

Software wallets

Software wallets consist of desktop, online and mobile wallets.

  • Desktop wallets like “Litecoin wallet” and “Jaxx” can be downloaded and operated from personal computers.
  • Online wallets are run via clouds that are accessible from computers like “LiteVault” and “Coinsbank”.
  • Mobile wallets are similar to desktop wallets but are size limited. “Jaxx” operates on mobiles as well.

Hardware wallets

Hardware wallets store a user’s private keys on a hardware device like a USB, even though these wallets make online transactions. Reliable hardware wallets are “Ledger Nano S” and “Trezor”

Paper wallets

Paper wallets are easy to use and highly secure. They are a physical copy of your public and private keys. It is straightforward and working procedure allows you to transfer from or to software wallets for earning or spending currency.

Selection of Best Wallet for LTC:

Choosing your Litecoin wallet depends upon these factors:

  • Do you need a wallet for everyday purchases or long-term investments?
  • Do you plan to keep only one currency or several of them together?
  • Will you need to access your digital wallet from home or anywhere on the go?
  • How careful are you about not misplacing small things like USB sticks?
  • Are there any transaction fees for using online wallets?

Five Best Litecoin Wallets to store LTC:

  • Ledger Nano S

Pros

Cons

Great for multiple currencies

It can get lost/stolen

Most Secure

The initial cost of 65.00$

Can restore fund in case device corrupts

  • Litecoin Core

Pros

Cons

Official Litecoin wallet

Not for mobiles

Free to use

Not for people on the

  • Jaxx

Pros

Cons

Supports 13 currencies

Still very young (less than two years)

Ability to restore funds

Not safe to store a large amount of Litecoins

Allows trading on the move

  • LoafWallet

Pros

Cons

The first iOS-only mobile wallet

Not fully confirmed for androids

Developed by Litecoin maker

Not safe to store large amounts of Litecoins

Ability to restore funds

  • Liteaddress

Pros

Cons

Inexpensive

Can be easily lost/misplaced

Cannot be hacked

Security:

The security of wallets varies depending upon the type of wallet and your choice. Whether you choose online or offline wallets, you have to take precautionary measures for its security. Protection of your private keys is as important as remembering the code of your ATM card or safe vault.

The Best Wallet:

It all depends on the type of wallet and its security you want that will protect your digital currency.

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