The Complete Guide to Selecting Your Litecoin Wallet

Last updated on September 10th, 2017 at 10:36 pm

Your Litecoin wallet will be perhaps the most important tool you have for securing and protecting your Litecoins and other digital currencies, so make sure you take some time to familiarize yourself with them!

What are Litecoin Wallets

Like Bitcoins, Litecoins can be stored in a digital wallet. This wallet will track the total value of your Litecoins and allow you to conduct various transactions. It might be easier to think of your ewallet as a sort of email system, except instead of sending and receiving messages, you can send and receive Litecoins and money. You can also track your history of exchanges and monitor your financial transactions.

Web wallets – You store your Litecoins on someone else’s sever.

Desktop / mobile wallets – You store your Litecoins on your device (e.g. your laptop).

Each type of wallet has it’s pros and cons. Web wallets are risker since someone can hack the companies servers and steal your coins, but on the other hand you can use them from anywhere in the world. Offline wallets are considered safer since someone will need physical access to your computer to steal them, but you will also be able to send Litecoins only from that specific device.

Some wallets are completely free, while other wallets charge fees for various transactions. Make sure you read any fine print when choosing a wallet and pay close attention to any fees, as they can add up very quickly. There are several Litecoin wallets currently available, so we will go over some of the most popular options. Unlike Bitcoin there aren’t many options for Litecoin wallets, so I tried choosing the top 3 for you to cosider.

Hardware wallets – These wallets are a small piece of hardware that connects to your computer via a USB portal. They allow you to send and receive Bitcoins with complete security as all of the “important stuff” is done offline on the hardware device. These types of wallets are the most recommended but they also come at a price.

If you want a deeper understanding of how wallets work please watch this video about Bitcoin wallets. Even though the topic is Bitcoin wallets, the same principles apply for all cryptocurrency wallets:

 

Top 5 Litecoin wallets available

TREZOR – TREZOR is a hardware wallet that can hold Litecoin as well as Bitcoin, Dash and other cryptocurrencies. It costs around $99 but is well worth the extra security you get by using such a wallet. Also, since it’s a multi currency wallet you can use one TREZOR wallet for many different coins.

Ledger Nano S – The Nano S is probably one of the best wallets around. It’s a hardware wallet that can store Litecoin, Dogecoin, Bitcoin, Dash and even Ethereum. It costs around $59 and has similar features to the TREZOR.

Litecoin-QT – This is a desktop wallet for Litecoin which I personally use. Very convenient but you need to remember that once you use this wallet it means that your computer now stores all of your Litecoins. Litecoin-QT is 100% free to use.

Jaxx – A cross platform Bitcoin and altcoin wallet. Jaxx works on Desktop and mobile and is very intuitive and easy to use. You can read our full review here.

Exodus – A beautifully designed wallet for Blockchain assets. Allows you to hold Bitcoin, Litecoin, Ethereum and other cryprtos. Read our review here.

Liteaddress.org is a simple service that will generate a Litecoin key and address for you. You can then print the key and address and safely store Litecoins offline. Due all of the thefts that have occurred with Bitcoins and online wallets, many people now prefer to store coins offline. This service is definitely worth a look if you are looking for a way to easily store Bitcoins offline. Read this post to understand how to create a 99.9% safe paper wallet.

Before selecting your Litecoin wallet

When selecting a wallet for any of your digital currencies, you need to make sure that you are very careful and go with a trusted and transparent company. There have been numerous Bitcoin scams that have resulted in people losing thousands, and even millions of dollars worth of Bitcoins. Occasionally, people try to save small amounts of money by selecting less transparent wallets with cheaper fees. Unfortunately, attempts to save pennies sometimes result in people losing huge sums of money.

Companies that are backed by Silicon Valley ventures, or are officially incorporated in the United States and other developed countries, for example, are probably more trust worthy than companies that don’t disclose their location, or are located in areas with poor enforcement measures.

Ofir Beigel

Owner at 99 Coins ltd.
Blogger and owner of 99Bitcoins. I've been dealing with Bitcoin since the beginning of 2013 and it taught me a lesson in finance that I couldn't get anywhere else on the planet. I'm not a techie, I don't understand "Hashes" and "Protocols", I designed this website with people like myself in mind. My expertise is online marketing and I've dedicated a large portion of 99Bitcoins to Bitcoin marketing.

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32 Comments on "The Complete Guide to Selecting Your Litecoin Wallet"

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Mike
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Mike
Hi Steven, I bought a Bitcoin a few months ago and a few Litecoins soon afterward and had them on Coinbase. I’m ecstatic about the recent growth of my investments but ran into a problem. Coinbase closed and froze my account saying I violated there terms of service agreement. The only option they gave me was to move my coins to another wallet. Being new to this, I searched the Web and blogs on crypto currency and was able to move my Bitcoin out of Coinbase to an online wallet. I was searching for information on how to move my… Read more »
Cathy
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Cathy

Hi. I’m a newbie and have generated an offline paper wallet by downloading bitaddress and running it offline then clearing my cache, cookies and history. I also used an offline printer. My problem is that I’d like to get some Ether and Litecoinbut cannot find a way to generate wallets offline for either of these. Is there a way? Please help? Thank you!

Steven Hay
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Steven Hay
Hi Cathy, I think that if you’ve successfully created a paper wallet via that method, you’re no longer a newbie. Congrats! I have found a couple of paper wallet generators which work in the same manner. This one is even a fork of BitAddress so it should be pretty familiar: https://bitcoinpaperwallet.com/litecoin-paper-wallet-generator/ As the site notes: “If you don’t trust this service (or pseudorandom number generators in general) this wallet service lets you roll dice, shuffle cards, or supply your own “vanity keys.” I think generating your own privkey via those methods might be a good option, as then you don’t… Read more »
Cathy
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Cathy

Thank you so, so much! I’m excited to try this! Great help!!!

John
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John

I liked your full review of Exodus and have moved some Litecoin from my ElectrumLTC wallet to Exodus. I was becoming more and more unhappy with my coins in ElectrumLTC because it seems (to me) that ElectrumLTC is insubstantial in many ways in comparison with other wallets. Thank You for this page of reviews which for me solved my problem.

Chuck
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Chuck

Hi, Im in the process of learning how to buy cryptocurrency and was wondering on the wallet selection, which ones work with MAC systems.

thanks

Steven Hay
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Member
Steven Hay

Hey Chuck,

The Litecoin full wallet for Mac can be found on the official Litecoin page’s download section:

https://litecoin.org/#download

The Electrum light wallet (which doesn’t require downloading the full blockchain but relies on a third-party server for accurate info) can be found here for Mac:

https://electrum-ltc.org/#one

sud
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sud

Hello Steve

1)
Suppose I buy Bitcoin, ETH, and LiteCoin on Coinbase, do I still need a wallet (possibly a different one for each) for these or coinbase supplies one for all/some.
Or
I just buy Trezor (or one of the subsequent above according to crypto’s I hold) and be done with it.

2)
Also in USA is coinbase.com the best/reputable crypto exchange or are there others?

Thank You

Steven Hay
Member
Member
Steven Hay
Hi Sud, 1) Well, Coinbase will keep those coins in their exchange wallet. In theory, you can withdraw these coins at any time and send them to any other address. In practice, exchanges sometimes get hacked, go offline or steal funds. By leaving your coins in the control of Coinbase instead of transferring them to a personal wallet, you run this exchange risk. We usually recommend that people learn about the various types of wallets (see our Wallet Reviews section) and use them instead of storing coins on any exchange. 2) There are plenty of other exchanges which are reputable… Read more »
tory
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tory

What is the difference between https://litecoin.org/ and https://electrum-ltc.org/?
Is it that electrum is a desktop/software wallet and litecoin is similar to coinbase and is an online wallet?

Thank you!

Steven Hay
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Member
Steven Hay

Hi Tory,

Litecoin.org is the official website for Litecoin. It features the Litecoin full wallet downlead and other safe wallets, such as Electrum Litecoin, the site for which you also linked.

Electrum Litecoin is a light wallet (meaning, it doesn’t store the LTC blockchain but instead relies on servers which do) which installs to your personal device.

Electrum is therefore a light software wallet, whereas Coinbase is an online exchange wallet.

Henry
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Henry

Please can some1 help validate if your-ltc.com/wallet is real or scam

Steven Hay
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Member
Steven Hay

Hey Henry,

They claim to have been founded in 2013 and provided a platform for over 20 million LTC transactions… Yet I find no mention of them on the Litecoin subreddit or even in a web search. I find that highly suspicious!

For safety’s sake, I think you should stay away from this site. There are enough trustworthy options to use instead that there’s no sense taking a risk on a site like this.

For a full wallet, use the official client, found at:

https://Litecoin.org/

For a light wallet, use Electrum Litecoin from:

https://electrum-ltc.org/

If you want a web wallet (least secure option), then use:

https://www.litevault.net/

Harry
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Harry

Does coinbase keep your key,And if so how do you receive it from them

Steven Hay
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Member
Steven Hay

Hi Harry,

Coinbase has the private keys to all deposit addresses which you use to send bitcoins to them. However, there’s no way to receive these keys from them. Coinbase keeps these keys under their own control as a security feature.

If you wish to take personal control over your own bitcoins (and this is recommended) then it’s best to setup a personal wallet and withdraw your coins from Coinbase to your own control. Hardware wallets are the most secure method for the purpose of keeping your own coins.

Kevin davis
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Kevin davis

Hi,

I have a seagate personal cloud device, is it possible to set up a wallet on this, and then to log in from different devices or computers ?.. also how secure would this be compared to having the wallet on my PC

Steven Hay
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Member
Steven Hay
Hey Kevin, Thanks for the interesting technical question! People have done this with the Synology Disk Station, which is comparable to your device. See: https://www.reddit.com/r/Bitcoin/comments/2zkg4l/bitcoin_node_on_synology/ I believe your first sticking point will be finding a compatible wallet. No such wallet is available as a download for your device at present, as far as I know. I’m not sure whether it’s possible to manually install software on your device. If not, then I doubt Seagate are going to make a Bitcoin wallet available for it any time soon, not only due to it being a very niche usage but also because… Read more »
Graham
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Graham

Hey Zsofia
Is it possible to have a Litecoin Core wallet on my Desktop and another Litecoin wallet ( Loafwallet ) on iOS IPhone that sync to show the same data , if you think its safe then how do I do this ?

Steven Hay
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Member
Steven Hay
Hi Graham, Yes, this is possible. Loafwallet will sync from any Litecoin supernode (which is equivalent to a Bitcoin full node). In other words, Loafwallet should be able to sync from your up-to-date Litecoin Core wallet, so long as port 9333 is open. Much of the information from our guide on running a full Bitcoin node (https://99bitcoins.com/step-by-step-guide-firing-up-bitcoin-node/) applies to Litecoin as well. Without knowing your system and router, I can’t give any more specific recommendations but by following our guide and its links, you should be able to figure it out. To then connect your personal full node with Loafwallet,… Read more »
Christian Pidlaoan
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Christian Pidlaoan

I invest $170 worth of LTC at litecoin-storage.com and it seems i was scammed. Can anyone validate if this is a scam site?
Thanks

Tom
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Tom

Hi Zsofia,

I have aTrezor wallet which I am convinced 99.99999%, I have copied down the correct recovery seed for…

However, as I put in more funds I really want to check that I copied down everything absolutly correctly. Is there anyway you can view the recovery seed as you did on initial set up without messsing the Trezor or its contents up ?

Zsofia Elek
Admin
Member
Zsofia Elek

Hi Tom, you can ask the Trezor support team how you can verify your seed phrase.

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