Best Litecoin Wallets in 2024
Litecoin is one of the world’s best cryptocurrencies, will hundreds of thousands of holders around the globe. All of these people use Litecoin wallets to store their crypto, and if you become a Litecoin holder, you too will need a Litecoin wallet. With so many cryptocurrency wallets to choose from, we’ve done the hard work for you. We’ll talk a close look at 5 of the best Litecoin wallets. Any one will serve you well, but you’ll probably pick a favorite. Let’s get started so you can buy Litecoin now.
Looking for the best Litecoin wallet? These are our top picks
Best Litecoin Wallets
The cryptocurrency industry is flooded with digital wallets. Every cryptocurrency out there must use a digital wallet in order to be usable to its owner. With the proper wallet, you’ll be able to send, spend, and receive Litecoin and/or other currencies. Some wallets support tons of cryptocurrencies, while others specialize in a single currency.
Alternatives to Opening a Wallet
If you’re a little intimidated by the Litecoin wallet process, there is another way. Most Litecoin investors go the traditional ownership route when investing in Litecoin. They buy coins at one price and hope to sell them for a higher price sometime later, all while using software, paper, or hardware wallet to store their coins. Transferring coins can result in disaster if you mess up an address, forever sending your coins into the void.
By using eToro, however, you’ll be able to live without a wallet, because you’ll be able to invest in Litecoin without actually buying it. eToro uses a really cool business model based on CFDs, or Contracts For Difference. A CFD allows you to pay the market price for any amount of Litecoin. But instead of having those coins sent to your Litecoin wallet, your money will simply be locked up through the eToro site, within the contract.
When the contract ends, the Litecoin price will determine the money you get back. If Litecoin is more expensive than it was when you bought it, you’ll make all your money back, plus profits, just like you would if you bought and sold the same amount of Litecoin on those same dates. The converse is true, so you’ve got to be careful when using CFDs. But in the hands of the skilled trader, CFDs are undoubtedly the easiest way to invest in Litecoin, and all without ever having to buy or download a wallet!
Note: The crypto CFD option is not available for US and FCA customers.
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FAQs
What About Litecoin Wallet Scams? There are so many crypto wallet scams out there, that it’s impossible to even find them all. The best way to keep yourself safe is to make sure you’re downloading a well-regarded Litecoin Wallet, and that you’re downloading it from the official source. Tons of wallets are made to imitate legit wallets. Ask questions online, using Reddit or Bitcointalk or Facebook, if you have questions. If all else fails, just use the links in this article to access those wallets.
Will Litecoin Go Up in Value? No one can predict the future, but we have good reasons to believe that Litecoin will go up in value when the rest of the market decides it wants to recover. Litecoin is a useful coin. Payments made using Litecoin are fast and cheap, faster and cheaper than with Bitcoin in most cases. Coins with strong utility are the ones that are going to rise, and Litecoin is one of the best among them.
What if I Lose My Ledger Nano S Litecoin Wallet? When you get your Ledger Nano S, you’ll have to write down a pass phrase to get it working. If you lose your Nano, all you have to do is buy another one, input this code, and all of your apps and coins will reappear on the new device.
What if the Computer I Have My Litecoin Wallet on Breaks? Any Litecoin wallet you use should have a private key or restoration code (or something like that) that you can use to regeneration your wallet anywhere in the world. Keep this code safe, because if someone else stole it, they could recreate your wallet on their device and steal your coins.
Can I Have More Than One Litecoin Wallet? You sure can, but you’ll have to split your balance between all of your wallets. Some people have multiple wallets for multiple purposes. For instance, they might have a Loafwallet for daily spending and a paper wallet for long term storage. You do you, just make sure you are able to keep up with everything.
Why Does the World Need Litecoin if it Already Has Bitcoin? Bitcoin has had times when it’s really expensive and slow, and Litecoin jumped in to pick up the slack during those times. Litecoin has its own perks, including larger blocks and a longer history with SegWit that make it the obvious choice for some. Some traders recommend investing in both.
How Can I Buy Litecoin With Paypal? There aren’t many good methods to buy Litecoin with Paypal, but fortunately we covered them in our recent “How to Buy Litecoin With Paypal” guide. If you find other people offering to sell your Litecoin for Paypal, be suspicious, and only complete the purchase when you’re sure they’re legit. If you happen to get scammed, contact Paypal quickly, and they’ll probably reverse the charge.