Litecoin is the fifth most popular and capitalized digital currency after Bitcoin, Ethereum, Ripple, and Bitcoin Cash. Litecoin's capitalization today is $ 16.5 billion. The capitalization of the LTC market is one of the most important factors in the price of Litecoin.
The investor is faced with the question of how to save and increase their capital, so it is very important to make the right decision where and how to store their coins.
In this article, we will try to describe the various LTC wallets, their differences and installation methods with a detailed description.
Before you buy, mine, collect Litecoin from cranes, you must decide which wallet you will use. Most likely, your choice will depend on a number of conditions:
It is quite difficult for a simple Litecoin user to choose which wallet to use, since there are quite a lot of possible Litecoin wallets, and these wallets differ from each other in a coordinated way.
A wallet for a personal computer is Light, an example is the LTC Electrum wallet, simple, not demanding on PC resources, good basic characteristics, does not require downloading the entire blockchain. You do not need backups, you can restore it by specifying a secret phrase. Less reliable than a heavy wallet.
A wallet for a personal computer is Heavy, an example is Litecoin Core, (wallet from the official developer of Litecoin), weighing more than 100 GB, the wallet requires downloading the entire Blockchain, which will be stored on the computer, it is installed for a long time, when keys are lost, it is not restored, but this is the most reliable wallet, since no one except you will have access to it, such a wallet is suitable for storing large amounts of Litecoin.
Mobile wallet-Works with simplified verification, without downloading the full block chain every time. But it allows you to pay for goods and services directly through a QR code on the screen. Example of LTC Electrum mobile version.
Online wallet-It does not require downloading the program. You can get such a wallet on the website that provides the LTC wallet service simply by registering. You can log in to such a wallet from any device, anywhere with Internet access. There are many examples of such wallets: Coinbase , WebMoney. WebMoney and Coinbase are multi-currency wallets, Coinbase is located in the United States, there is a storage on this wallet, it is like a virtual safe. WebMoney is a multi-currency wallet, located in the Russian Federation and other CIS countries, there is an exchange, you can convert Litecoin into dollars, euros, rubles, hryvnia, Belarusian rubles, tenge, bitcoin, bitcoin Cash.
The main disadvantage of online wallets is the security of your funds. A third party is responsible for it. Trust funds only to trusted resources. We recommend Coinbase, WebMoney, as it is reliable and convenient.
Paper Litecoin wallet (paper wallet LTC) - the feature is to store litecoin on paper. There are many sites on the Web that allow you to generate and print such a wallet. One of these is LiteAddress.org. Such a wallet is a document that contains a personal and public key. For reliability, the information is encoded using a QR code, which allows faster transactions on the network. This is a reliable way to store virtual coins. The disadvantage is that if you steal this piece of paper, the owner will not be able to return the litecoin, since all the keys are only in his possession.
Hardware wallets LTC-Devices that look like a small drive-HD, are a separate type of litecoin wallets. These are separate external devices that connect to a computer or mobile phone via USB or via a radio signal. Such a wallet can also be completely autonomous. These litecoin wallets offer a number of advantages over traditional wallets, they are easy to manage, and provide a high level of security. Hardware wallets are good for owners of a large amount of LTC. The plus is that litecoin is always close to the investor.
The main advantages of such a Litecoin wallet is that you yourself are the custodian of all your savings located in the file of your computer.
Installing a Heavy Litecoin Wallet
The disadvantages include long synchronization, a large weight of the LTC wallet, as well as the fact that in the event of any failure on your computer, you can irretrievably lose all your Litecoin. Therefore, it is better to make several copies of the wallet and store them in a safe place. It is best to store your wallet on two devices, it can be an old laptop that will only be used to store such a wallet and connect to the Internet exclusively for working with the wallet. From this device, you can generally remove the plateau for accessing the Internet via WI-FI and connect to the network via cable. A copy of this wallet should be kept on another device, such as an HD drive. It is better not to save money on an HD drive.
If you are not ready to trust your capital to anyone, then storing litecoin on your computer is the safest way to store LTC of all known, you will control the whole situation yourself.
Litecoin Core - Official Litecoin wallet.
To start using this LTC wallet, you need to remember that its weight is 100 GB. Therefore, it is better to determine the storage location in advance.
Download the wallet to your computer, then run it and download the entire blockchain with all transactions from the first to the last, it took me 2 days, later I will have to load new blocks.
Installing the wallet is intuitive and will not be difficult.
Choosing an operating system
At the beginning of the installation, select the operating system that is installed on your computer
After you click on the corresponding button, the program starts downloading.
After the download is complete, you will need to perform a number of the usual standard actions to install the LTC wallet program.
After installation, a window will appear in front of you, in which you will be asked to choose a place where your wallet data will be stored.
Choosing a storage location for a Litecoin wallet
Loading your wallet LTC
Upon completion of the download, you will be taken to your Litecoin wallet, which has started its automatic one-time synchronization with the network.
After its completion, you can use the wallet. You will have the opportunity to make any calculations on cryptocurrency LTC.
As a rule, such a wallet is used to store decent amounts of Litecoin, this is your personal safe for this cryptocurrency. But any operations are available to the owner of this wallet, you can easily send and receive payments.
When using LTC Electrum, you no longer have to worry about the wallet file that you need to securely store and make encrypted copies every time you make a new transaction, and the loss of such a file no longer carries the loss of Litecoin.
Electrum wallet recovery is possible regardless of the wallet file, Electrum allows you to create and restore a wallet based on a simple phrase of twelve words. The main thing now is not to forget this phrase, which is called seed. You can grow an address tree from a seed.
You can use the wallet through the anonymous TOR browser, there is an adapted version for the Tails OS, which is the most secure to date.
The developers left the source code in the open, which makes it possible to adapt the program's functions to the user.
The presence of a third party (third-party server) due to the use of a simplified transaction confirmation scheme.
The wallet interface does not always provide complete information about the completed transactions, because the information is updated with a certain frequency.
Installing the Litecoin Electrum Wallet
Electrum is the most convenient Litecoin wallet in many ways, in this wallet you can convert Bitcoin to Litecoin and back inside the wallet system.
Go to the official website electrum-ltc.org, where there are versions of the Electrum Litecoin wallet for different operating systems.
Consider a program for Windows. Electrum LTC is available in a portable version and in software (installer).
Electrum LTC в портативном варианте устанавливается и запускается без проблем.
In the software version, it does not get along with your Cyrillic alphabet, if your username in the catalog tree is written in Russian, then the wallet may not start. C:\Users\Russian username\AppData\Roaming\Electrum.
Consider installing Electrum LTC in a portable version:
Next, the system will again offer to make a choice, if you create a wallet again, select the menu item "Create a new seed". Now you will be asked to enter a phrase of 12 English words, the phrase will need to be repeated so that the system sets it as a seed. Then 2 times we enter the password for quick access to the wallet. The password and the sid-phrase are stored in a safe place.
Confirmation of the led control phrase
Sign in and confirm your password
Wallet Sections LTC
We confirm our agreement to the terms of service and enter your email address.
If you need to get the wallet address, then go to the "Receive" tab and you will see your QR code. If you are going to send the coins yourself, then go to the "Send" tab. There are other features of this wallet.
In the section File :
Recently open - open one of your old wallets;
New/Restore - create or restore a wallet;
Open - open any file inside the program;
Quit - выйти из программы.
In the section Wallet :
New Contact - allows you to create a new address;
Password - you can change your password;
Seed - you can view your passphrase after entering your account password;
Master Public Keys - it will show you the public keys, which can be used to track all operations;
Private Keys - manage your private keys.
Labels - these are labels that can be exported and imported;
Export History - you can copy and move the entire history of money transfers to another location;
Search - allows you to search by the labels set in the Labels item.
In the section Tools:
Pay to Many - transfers to different users at the same time, the amount for each recipient can be different.
Plugins — you can find out the current Litecoin rate or choose the exchange with the best LTC rate.
Preferences - you can create the program interface as you wish, and set additional options.
Network - select the server through which the wallet will connect to the Internet.
Load Transaction - it will help you to display a list of transactions with different filters.
Installing a wallet
В Google Play looking for an app Electrum Litecoin Wallet
Next, install the wallet app.
Launching the app,
Select "Create a new seed" to create a new wallet and set the seed phrase.
Next, the sequence of actions is the same as when installing the program on your computer.
If the main wallet is already on a stationary device, then select "I already have a seed".
Installation tip: Before you run the wallet installation wizard that you downloaded from the official website, it is recommended to disconnect your computer from the network.
Coinbase, founded in June 2012, is a wallet and platform for digital currencies where users can make transactions with new digital money, such as Bicoin, Bitcoin Cash, Ethereum, Litecoin. The company is headquartered in the United States in San Francisco, California.
Coinbase is a good wallet for depositing funds from LITECOIN taps, the input is free, but there is a withdrawal fee. The withdrawal fee is available on all Litecoin wallets, depending on the network load. Funds for withdrawal go to the miners, the wallet does not receive a fee from this.
When using the system, you need to remember that although Coinbase is one of the most reliable cryptocurrency wallets, your funds are still held by Coinbase.
But despite this, many users trust their Litecoin, Bitcoin, Bitcoin Cash, Ethereum to this wallet due to its ease of use, it is instant intra-network transfers in the system without commissions, and the very speed of transfers in the litecoin network, and a dynamic commission depending on the network load.
Simple registration and you are the owner of the Litecoin wallet.Go to the site www.coinbase.com , we are registering.
In the upper right corner, click on the Sign UP button.
The page with the registration form will load, where you will need to enter:
First and last name;
Valid e-mail address;
Create a password;
Check the box about agreeing to the rules;
And click on the button to create a new profile.
You will receive a message to the specified email address asking you to verify your account-click Verify email address and you will be redirected to the wallet settings page:
Choose - Individual,
be sure to enter the correct phone number! The codes for authorization in the system will be sent to it in the future!
A text message arrives-we confirm the phone with a code from the text message.
Receiving and sending cryptocurrencies. To get Litecoin, you need to find the LTC Wallet on the Accounts page and click the Recieve button on it: The address to which you need to make a transfer from another NON-coinbase LTC wallet will appear.
When transferring inside the Coinbase system, litecoin can be sent to Coinbase instantly and without commission, for this you need to click on Send and select the Email Address tab: Enter the email address of the person to whom you want to make the Litecoin transfer in the corresponding field, of course he must have an account in Coinbase and you must know the email linked to his account. Enter the amount in either USD or BTC. If desired, we write a comment and send Litecoin without commission and instantly.
If we send Litecoin to another address, then select the Wallet Adrress tab and fill in the fields. Enter the amount in either USD or Litecoin. Optionally, enter a message and send LTC.
All transfers are displayed in the Transactions field.
WebMoney wallet is very convenient because Litecoin can always be exchanged immediately for rubles, hryvnia, Belarusian rubles, Kazakhstani tenge in several ways, this is a quick exchange in the system itself,and exchange through Litecoin exchanges and through the Litecoin exchange. I use the exchange.
Attention! For the input and output of litecoins to your WML-wallet, in the WebMoney payment system, you must have a formal certificate that has passed the verification of personal data. To do this, send a scan of your passport and you will receive a formal certificate in an hour.
How do I create a WML wallet and link a litecoin address to it?
To create a wallet, you need to run the Keeper WinPro (Classic) program on your PC, if you use it to manage your WebMoney wallets. If you do not use Keeper WinPro (Classic) to manage wallets and work with the WebMoney system, then just go to the wallet site through the browser using Keeper WebPro (Light).
Example of creating a WML wallet via Keeper WinPro. After entering the program, we create an internal wallet with the WML title sign.
To do this, go to the "Wallets" section»
Click the "Create" button»
A window will appear in which you will need to select the type of wallet to create
Then click the "Next" button»
After all these actions, a new WML wallet will appear in the list of your wallets.
Next, you need to go to the "Enter LTC" section and click the "Get" link next to your wallet, after these actions, the address for adding funds to your WML wallet will appear.
Now the Litecoin address is linked to your WML wallet.
That's all, you can transfer your existing Litecoin to your WML wallet using the received Litecoin. This address must be specified on the sites where you will earn Litecoin. Now your earned funds can be withdrawn directly to the WML-wallet.
In the WebMoney payment system, you can exchange your litecoins for other title signs of the system. Attention! Litecoin is credited to WML only if the values exceed 0.0001 LTC.
Often, a smartphone is used to manage their Litecoin. Such wallets allow you to safely store LPS and other cryptocurrencies.
On a mobile phone, you can install not only wallets, but also taps for collecting cryptomonets.
Among the most popular applications for iOS that allow you to store LTC, this is LoafWallet - one of the most popular and secure wallets, a distinctive feature of this wallet is that even if you lose your iPhone or Apple Watch, the owner can always restore access to the Litecoin wallet on iOS, and not lose money.
The wallet is easy to manage and has a clear interface. It runs on iPhone and iPad with iOS version 9.0 and higher. Loaf Wallet is the official Litecoin wallet for iOS. The installation of all apps on iOS devices is the same.
To install the Litecoin Loaf Wallet on your iPhone or Apple Watch, you need to
Открыть магазин приложений App Store;
Enter the name of the wallet in the search bar;
Click on the install icon located to the right of the wallet name;
Wait for the installation process to complete.
You can now proceed to register and configure your wallet for future use.
During the first launch, the user will be prompted to create a new wallet or log in to an existing account.
In the second case, you need to specify a special phrase that is used as a password, this will later help restore access to the wallet even if the device is lost.
When creating a new wallet, follow all the instructions displayed on the device screen — enter your email address and password.
After logging in to the wallet, the user will be able to see their current balance at the top of the screen. To access other functions and view the Litecoin address, click on the icon in the form of 3 horizontal lines located in the upper-left part of the screen, and select the desired item from the menu that appears.
Litecoin wallet for Android < strong>Coinnomi is one of the most reliable ways to store Litecoin on your smartphone or tablet.
To start using a mobile Litecoin wallet, you need to:
Go to Google Play;
Enter the wallet you are interested in in the search engine;
Select it and click on the "Install" button»;
Start the client.
Next, you need to register as a rule, you need to enter your e-mail and password.
In order to send and receive Litecoin in the wallet menu, click on the "Receive" or "Receive"button.
When choosing a mobile wallet, be sure to look at the supported OS version. If the client does not support your Android version, the Litecoin wallet will not start.
Litecoin paper wallet is an offline method of storing your crypto savings data in LTC. Litecoin paper wallet is a printout of public and private keys on paper that you store yourself in a safe place. The keys are printed as QR codes, which you will scan to make any transactions.
This LTC storage method is the most reliable, as it gives you full control over your wallet data. Your private key and public key will be printed on paper. No need to worry about the safety of the equipment, no hacker or virus can steal the money. The only concern is not to lose the paper with the codes and not to show it to anyone.
If you have a lot of Litecoin and you intend to store them for a long time, then a paper wallet for Litecoin is what you need. Such a wallet can be generated on liteaddress.org .
Paper wallets are created using a program to generate random public and private keys. The keys are unique, and the program is developed in open source.
Another precaution is that keys are created offline, without a network connection. Thus, you are not afraid of online threats, and deleting the program will erase all traces.
Go to the website LiteAddress.org, this resource is supported by almost all browsers. Immediately after entering the site, the address generation will begin. To generate it, you need to start moving the mouse cursor over the field in which random characters appear. You can enter your own characters in the line next to the main field. This way, you will make the code as unusual as possible. You can only enter numbers and Latin letters.
Wait for the address generation to finish.
After the operation is completed, a window will appear on the screen, which will display two addresses and two QR codes. On the left you will find the public ID of your wallet, you can send LTC to it. On the right will be a private key and its QR code, it will give access to all your savings.
In the field with the name amount, enter the amount of Litecoins that will be stored in the wallet.
After that, it remains to print out the wallet. Here you will have two options. You can click on the print button directly in the window that will appear after the end of the generation. It is located at the top right.
By doing this, you will get a simple version of a paper wallet.
However, you can print the original document.
To do this, go to the "Paper Wallet" tab, then click on the print button.
Your Litecoin paper wallet is ready. The whole operation will not take you more than 5 minutes. However, the generation takes place online, which jeopardizes the security of your savings. Of course, the probability that your private key will be taken over by a hacker is not very high, but it is there. Therefore, below we will consider another method that is considered the most secure.
If you want to create a paper storage for Litecoin, it will take you more time, but you can not worry about potential hacker attacks, because the generation process will take place offline.
To create such a reliable LTC wallet storage, you need to do the following:
Go to the website github.com and download the Liteaddress program. The program will be saved on your computer as an archive.
Transfer this archive to a flash drive.
Print out the resulting IDs, you can also save them on a flash drive in PDF format. This method is good because the private key is known only to you.
How do I view the balance?
1. Install the Litecoin Core software wallet on your computer (described above).
2. Run the client in offline mode to make it impossible for a hacker attack.
3. Click on the "Help" button (located at the top of the client).
4. In the menu that appears, select "Debug Window".
5. Next, click on"Console".
6. If the client is encrypted, do the following: enter the command walletpassphrase in the lower field, make one indent and enter "Your Password" and the password itself (the access code must be separated by a space), and at the end insert "600". The last digit indicates the number of seconds during which the client will be unblocked. If the program is not encrypted, this step is skipped.
7. Then, in the same field, enter the importprivkey command, indent and enter "Your Private Key", and indent the key itself and end the command with the word "Label". The last word means the name of the address. It is given only as an example. You can enter any word at the end.
8. Wait about 5 minutes for the program to finish importing the keys.
9. After completing this operation, check your client's address book. The public address of your Litecoin paper wallet should appear there.
10. Now you can forward LTC to people or transfer them to other addresses that belong to you.