Since you are in full control of your private keys, losing them means losing your entire Litecoin holdings. Mobile wallets offer a convenient and accessible way to manage Litecoin and other cryptocurrencies directly from a smartphone or tablet. They are ideal for users who want to have quick access to their funds without sacrificing security. Changelly offers its API and a customizable payment widget to any crypto service that wishes to broaden its audience and implement new exchange options.
Here at Changelly, we are constantly trying to provide you with comprehensive educational articles so that you can stay updated on crypto essentials. Irrespective of what Litecoin wallet you do choose, it is important that you are often the weakest link for fund security. This is where paper litecoin wallet advanced and up-to-date antivirus software will hold you in good stead. LoafWallet was made to keep it simple when sending and receiving Litecoin. And you never have to worry if something goes wrong since you can always restore the wallet with the 12-word backup seed phrase.
Why should I use a paper wallet ?
You can use the generated QR once you’ve printed the paper wallet or simply use the Litecoin address for someone to transfer LTC securely to you. You will need the private key to recover and spend your LTC when ready, so store it in a safe place where no one can see or scan it. And the normal Litecoin wallets doesn’t have that level of security – so the best option is to create a Litecoin paper wallet. A process that will save you money and is probably more secure than hardware wallets. Once you have generated and printed a wallet, you can send coins to the public address, like for any wallet.
The owner of the coins is the entity who controls those private keys. Notably, Trust Wallet supports an impressive range of over 1 million assets and covers 53 different blockchains, including Litecoin, making this a popular wallet for altcoin enthusiasts. If you value security above all else the Ledger Nano S hardware wallet is considered to be one of your most secure choices for a Litecoin wallet.
Step 3. Fold the Paper Wallet
Among other currencies, Guarda Web Wallet supports Bitcoin,Bitcoin Gold, Ethereum (+ERC20 tokens), Ethereum Classic, Zcash, XMRetc. This wallet needs to be configured when it is used for the very first time. You need to set a password (Private Key) and then you will get a 24-word phrase (Seed Key). This Seed Key will be required if you forget your Password, which means that you need to store this Seed Key safely. There will be no way to access your wallet ever again if you lose this Seed Key.
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. While being in the crypto space keeping your cryptocurrency safe stands in the first place amid other rules.
DIY GUIDE: Litecoin PAPER WALLET
If you are going to store a large amount of Litecoin on a wallet, make sure that you make backups of the seed word. You should store them in different locations such that if you lose the one you can easily find the other. Once you buy Litecoin from an exchange you might be tempted to just keep it in the exchange wallet for the sake of ease. However if you’re planning on holding the Litecoin as an investment it’s a bad idea indeed. Being so long in the market naturally develops enough infrastructure, and that’s what has happened with Litecoin too.
It is a deterministic wallet providing its users a 12-word seed that makes sure that their funds are safe and secure. It is SegWit-enabled, and it provides another feature where you can ‘freeze‘ your funds, i.e., no one can send the Litecoin from that address. I like the fact that Exodus’s ease of use isn’t compromised by a lack of security. The seed key will be needed if you want to restore/recover your wallet in case your computer gets damaged.
The only drawback is that this wallet can only be used on a computer (Windows, Mac, and Linux). It also has an inbuilt feature that allows its users to directly buy https://www.tokenexus.com/the-interesting-bitcoin-mining-history/ LTC from Coinbase instantly. And if you are a multi-currency lover, the great news for you is that Ledger Nano S allows you to store them as well.
- You can interface these kinds of wallets with your computer, once you’ve set up the necessary software, and from there start sending and receiving funds.
- The project is open source so that anyone who wants to inspect the lines of code can do that on GitHub.
- You can send Litecoin from the paper wallet to other wallet addresses by using the send or transfer function provided by your wallet software or hardware device.
- But with threshold security, you generate multiple private keys, and you need a specific number of these keys to access your funds.
- Remember to keep your private key confidential and regularly backup your paper wallet to ensure the safety of your Litecoin holdings.
- Go onto a credible website download the HTML then turn off your internet ensure the code is fine.
If your private key validates, then you may be reassured that you will able to retrieve any funds sent to that wallet. Converting your private key and Litecoin address into QR codes is a convenient way to keep. Many wallets allow you to simply scan the QR code of your private key to redeem the Litecoin. You can also use seed keys which are used in Hierarchical Deterministic wallets to derive your private keys. CryptoWallet.com is also a cryptocurrency exchange, trading platform, and wallet for various high-cap currencies.
Leave a comment