Litecoin (LTC) is one of the most popular open-source peer-to-peer cryptocurrencies available online, with users all over the world. But if you want to start buying and selling it yourself, you’ll need one of the top Litecoin wallets to store them securely.
What are LTC wallets? They’re software applications designed to help you keep your Litecoins stored safely, while allowing you to both send and receive them securely too. While some Litecoin wallets are built with a focus on the highest standard of security, others are aimed more on user-friendly design.
The most secure type of wallet allows you to take ownership of its private key — if you don’t have the private key, your wallet could be vulnerable to a cyberattack. And that means your money could be stolen.
So, we’ve covered the basics of Litecoin wallets — but what should you look for before committing to one of the many options?
Key Factors to Consider When Choosing LTC Wallets
Here are the most important points to think about when looking for a wallet for your Litecoin, in no particular order:
- Your wallet should be safe and secure, with a good reputation among its users
- Your wallet should have an active online community
- Your wallet should offer reliable backup and restoration facilities
- Your wallet should be user-friendly, with simple navigation and minimal room for confusion/error
- Your wallet should offer compatibility with your OS and devices, for maximum convenience
- Your wallet should give you control over the private keys, and make you the sole owner
Bear these in mind, and take the time to research your prospective wallets’ online communities carefully. What do people say about it? Are they satisfied with its performance? Explore different perspectives, so you can make an informed decision.
The Top LTC Wallets of 2020
Here are the best Litecoin wallets to check out in 2020, in no particular order:
- Ledger Nano S
- Guarda Wallet
- Jaxx Liberty
- Litecoin Core
- Loaf Wallet
- Electrum LTC
- Edge Wallet
Let’s take a closer look at each one:
This offline Litecoin hardware wallet works as a USB device designed to function on the Zero Trust model. If you’re new to this term, it basically means keeping access tightly controlled through strict verification rules.
Trezor is one of the most secure LTC wallets available. It’s safeguarded by a PIN-based access structure, and gives users recovery seed if anything happens to your wallet (such as if it’s lost or stolen). This is primarily a Bitcoin wallet, though it offers support for an additional 14 cryptos, with high compatibility for Litecoin.
Trezor also includes a user-friendly interface, and keeps hackers or thieves away thanks to its pin-based access. The only negative you should consider is that its ability to communicate with other devices is limited. And when it’s not connected, it’s switched off.
Find Trezor here.
This online Litecoin software wallet offers support for numerous cryptocurrencies, such as Ethereum, Bitcoin, and over 30 tokens. Free transactions between Freewallet’s users are available, too.
Freewallet enables you to purchase your cryptos via credit card, and you can download it for mobile devices (specifically Android and iOS). That means it’s more than just a Litecoin software wallet: you can take it with you on your smartphone.
You’ll find some of the most impressive features in Freewallet, such as two-factor authentication and multi-signature confirmation for transactions.
Find Freewallet here.
Ledger Nano S
This Litecoin hardware wallet resembles a flash drive and is ideal for LTC transactions. You can use this to store more than 30 cryptocurrencies, including Litecoin, Bitcoin, and many others. It functions just as a USB device does.
Ledger Nano S offers high safety and is capable of running a number of apps at the same time. It’s one of the most affordable OLED-based hardware wallets, it’s malware proofed, and designed to be unhackable for your peace of mind.
As this is a hardware wallet, there’s no danger of your private keys becoming available to others online. You can integrate Ledger Nano S with several Litecoin software wallets.
Find Ledger Nano S here.
This multi-currency LTC wallet is custody free and works with more than 45 blockchains. You can use it for thousands of tokens, and it offers storage on the web, mobile (Android, iOS), as well as through a Chrome extension.
You can use Guarda Wallet for Ethereum, Bitcoin, Zcash, Dash, and more. Its extended functionality also allows for purchases, selling cryptos for fiat currencies, and built-in exchanges. This can also operate with the Ledger hardware wallet.
Additionally, delegation, staking, and other currency-specific functions of all the blockchains supported are available.
One of the most impressive aspects of Guarda Wallet is that it ensures high security by not storing any of your personal details. It’s non-custodial and encrypted backups remain stored on your device. This is one of the top Litecoin wallets based on its versatility and feature support.
Find Guarda Wallet here.
If you choose LiteVault as your Litecoin wallet, you’ll find it quick and simple to use. It offers a free sign-up process that you can complete within 10 seconds or less, and the source code is available to the public. Each user’s wallet is encrypted before it connects to the provider’s servers. As a result, you can maintain control over your private keys.
LiteVault is specifically designed for Litecoin, as the name suggests. It doesn’t support any of the many other cryptocurrencies available, so it’s best for users focused on LTC only.
Find LiteVault here.
This is a fairly new cryptocurrency wallet. Its team believes that blockchains should be simpler to use and understand, which helps bring a wider user base to the technology. Jaxx Liberty is a multi-chain wallet, providing support for several cryptos including Litecoin, Dash, Bitcoin, Ethereum, and a few others.
Jaxx offers complete control over your wallet, and you can access it on desktop or mobile devices with user-friendly interfaces. You can also convert Litecoin, Bitcoin, and others quickly.
This has become known as one of the leading Litecoin wallet apps available today, and you can try it as a desktop application, on your Android or iOS smartphones, as well as via a Chrome extension.
Find Jaxx Liberty here.
This is a free Litecoin wallet available on your desktop computer, and once you’re set up, the desktop itself functions as the wallet, with your private keys stored on it. Litecoin Core offers support for several operating systems: Linux, Windows, and Mac.
Litecoin Core takes approximately four days to sync with the whole blockchain as a full node, and demands considerable storage space. So, if you’re looking for a quick set-up process and want to store other cryptocurrencies apart from Ltiecoin, you may prefer to look elsewhere.
Find Litecoin Core here.
Exodus boasts an epic name, and it’s considered one of the best LTC desktop wallets available by its loyal user base. This supports more than 30 popular cryptos, including Litecoin, Zcash, Bitcoin, Ethereum, and Dash.
Exodus is designed to be a lite wallet, which means there’s no need to keep the whole blockchain stored in your desktop. This is one of the best places to store Litecoins, according to its enthusiastic fans, and it’s known for its quality interface.
It offers good control over the wallet, and you can make transactions securely. The fee for transactions is paid to the Litecoin network, rather than Exodus.
Find Exodus here.
LoafWallet is recognized as the first wallet for Litecoin built for iOS. This was created by Charlie Lee himself, known as the man who invented Litecoin.
LoafWallet did eventually release a version for Android due to the growing number of Android users adopting Litecoin. LoafWallet has a positive reputation with fans, and is considered by many to be the best Android wallet for Litecoin. The wallet is maintained by the Litecoin Foundation.
LoafWallet is an open-source HD wallet designed to enable users to restore funds, simply by entering a recovery seed key consisting of 12 words. You can also purchase Litecoins through Coinbase thanks to the dedicated in-built feature. You can set up a Litecoin wallet on iOS and Android.
Find LoafWallet here.
This is one of the oldest cryptocurrency wallets offering multi-chain, multi-platform functionality. More than two-and-a-half million people use Coinomi, and it’s a Hierarchical Deterministic wallet offering native support for more than 125 blockchains as well as 1770 tokens. Coinomi also utilizes privacy settings and security of the highest standard.
Coinomi supports multi-seed configurations and every seed phrase may be assigned its own encryption settings, depending on the use case. No user data is collected by the wallet, and your IP address will be obfuscated for your complete privacy.
Coinomi is known as one of the first wallets providing native segwit for Bitcoin as well as more than a dozen other blockchains. You can change from native segwit, legacy address, or compatibility formats with a single button click. You also get to keep complete control over your transaction fees and UXTOs.
Additionally, Coinomi’s UI is praised for its intuitive design, making it accessible to newcomers and more seasoned users. Coinomi is available in more than 25 languages, with 175 different Fiat representations too.
Find Coinomi here.
This is a lighter form of the Litecoin core wallet, as well as a wallet for desktops. It’s considered one of the strongest Litecoin wallets available online, and the best aspect is that it doesn’t demand you sync with the network. That means its performance is quicker than that of Litecoin Core.
As Electrum LTC is a deterministic wallet, it offers enhanced protection through the option to enter a 12-number password. You can also freeze it if it ever gets hacked.
Find Electrum LTC here.
Of all the multi-currency wallets available, Edge Wallet is known as one of the most well-respected options. It’s a solid choice for beginners, and you can purchase, trade, or store numerous cryptos within just one app. You stay in charge of the private keys, too.
Edge Wallet has a tight focus on reinforcing users’ privacy and security. It utilizes state-of-the-art technology to provide you with secure access revolving around touch ID or PINs.
Find Edge Wallet here.
LiteAddress is a paper-based Litecoin wallet. It’s a great option for anyone who wants to keep a lot of LTC stored for a long time, and is one of the most affordable, secure alternatives to Litecoin hardware wallets.
However, you need to understand how to handle a paper wallet, or you might find it difficult to use and potentially costly.
Find LiteAddress here.
How to Store LTCs Safely
To keep your Litecoins safe and secure, take advantage of two-factor authentication where it’s available and spend time researching wallets before you choose one. Look into its community, too.
LTC Wallets FAQ
Here are three of the most common questions, with answers:
What is an LTC wallet?
Litecoin wallets are used to keep your LTCs stored securely and safely.
How can you put money into your Litecoin wallet?
You can add LTC to your address in a number of ways. The simplest is to exchange other coins for LTC — you can learn more about the whole system of exchanging coins and adding funds to your wallet here.
What is the best Litecoin wallet available?
All of the Litecoin hardware wallets and Litecoin software wallets explored above offer a user-friendly, secure experience. Any of these should work well for you, depending on your chosen device.
That brings our guide to Litecoin wallets to a close! We hope this has helped to make the entire process of finding and signing up for a wallet easier.