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Litecoin (LTC) is one of the most popular cryptocurrencies in the market and it has been thought as a digital asset for processing payments in a fast and cheap way. Being one of the oldest digital currencies in the market, users have the possibility to store this digital asset in many different wallets free of charge.
After purchasing Litecoin in a cryptocurrency exchange, the best thing to do is storing it in a cryptocurrency wallet. These wallets would allow you to safely hold your digital assets and use them at any moment.
1 Ledger Nano S
Litecoin Wallet website: https://www.ledger.com/products/ledger-nano-s
Litecoin Wallet type: Hardware
Ease of use: Simple, but not easy for new users
Safe: Highly safe
Cost: Paid
Ledger Nano S is one of the most popular hardware wallets in the market. The hardware wallet is certainly the best to protect users’ funds. Why? Because it stores the private keys in an almost unbreakable environment that protects users’ against hacks and third-party attacks.
Holding funds in exchanges has been one of the worst decisions ever taken by crypto investors. Even the most popular and secure exchanges were hacked, with just a few exceptions. This is why it is very important to hold the funds in separated wallets.
The Ledger Nano S allows users to send, receive and hold virtual currencies through a hardware device that can be stored at home or in any desired place. Even if the device is destroyed or if it gets lost, users’ funds will be safely protected.
The wallet has a built-in screen, a secure lockable chip and backup recovery phrase that would help users recover their funds in case the wallet is lost. It is possible to store, not only Litecoin but also many other digital currencies in the market. This is good for investors that have a larger number of virtual currencies on their portfolios and want to handle all of them from the same place.
As mentioned before, to acquire this hardware wallet it is necessary to pay for it a small sum of money, close to $60.
2 Atomic Wallet
Litecoin Wallet website: https://atomicwallet.io/
Litecoin Wallet type: Desktop
Ease of use: Simple
Safe: Safe
Cost: Free
Atomic Wallet is one of the most popular desktop wallets in the market. Litecoin investors can easily store and manage their LTC coins through this desktop wallet that is built with security, anonymity and decentralization in mind.
Users can hold their private keys that are held on the computer. It is also possible to make swaps between currencies, which allows investors to avoid using exchanges. Some of the virtual currencies supported by this wallet include Bitcoin (BTC), Litecoin, Ethereum (ETH), Monero (XMR) and many others.
The main feature of this wallet is that it offers the possibility to process atomic swaps. It is not necessary for individuals to depend on a centralized crypto exchange anymore to exchange Litecoin for other digital assets.
It is possible to download Atomic Wallet for free. However, some services are paid, including the possibility to purchase digital assets directly from the wallet. They have high commissions for investors that want to buy these digital assets directly through the wallet.
If you hold Litecoin here, you need to be sure that your desktop computer is protected against viruses and that nobody has access to the private keys stored more than yourself.
3 Trezor
Litecoin Wallet website: https://shop.trezor.io/
Litecoin Wallet type: Hardware
Ease of use: Simple, but not easy for new users
Safe: Highly safe
Cost: Paid
This is another option for users that want to use a hardware wallet. Trezor is one of the main competitors of Ledger Nano S and it was developed by Satoshi Labs, a company located in the Czech Republic. This hardware wallet supports a wide variety of digital currencies, including Litecoin.
By holding the private keys offline, users can be sure that their funds are protected against attacks and other third-party hacks. Using the Trezor Bridge, the wallet gets connected to the selected browser for users to receive or send funds.
This is one of the most secure wallets to store digital currencies in the market alongside Ledger Nano S. It is worth pointing out that it is simple to use to users that have basic knowledge about digital currencies. The wallet has a price of around €99.
4 Trust Wallet
Litecoin Wallet website: https://trustwallet.com/litecoin-wallet
Litecoin Wallet type: Mobile
Ease of use: Simple
Safe: Safe
Cost: Free
Litecoin users can also download one of the most simple wallets to use in the market, Trust Wallet. It is possible to deposit, send and hold LTC and other digital currencies with Trust Wallet in just simple steps.
Trust wallet has also decided to embrace Segregated Witness (SegWit) in order to help individuals in the crypto market have the latest technological innovations in the space. The wallet is very simple to use for newcomers and it will provide flexibility and all the necessary services to users that want to hold Litecoin in a cryptocurrency wallet.
The main difference with hardware wallets is that it may not be as secure as Ledger Nano S or Trezor. Nonetheless, it is much more secure to hold funds in an online wallet such as Trust Wallet than on an exchange that can be hacked at any moment.
5 Exodus Wallet
Litecoin Wallet website: https://trustwallet.com/litecoin-wallet
Litecoin Wallet type: Desktop
Ease of use: Simple
Safe: Safe
Cost: Free
Exodus is also another recognized cryptocurrency wallet that would allow Litecoin holders to store, send and receive LTC coins in a fast and easy way. Exodus is a crypto wallet launched in 2016 that helps users deal with a large number of virtual currencies.
Using the desktop wallet would allow investors to hold Litecoin and other digital assets in the same place. In this way, it would not be necessary for the investor to use different wallets according to the crypto it wants to hold.
The wallet has a very easy to use user interface which is perfect for new users and it will help advanced users to feel comfortable while holding their LTC coins.
