Online, mobile or a hardware wallet, all types are available for Litecoin, for storing and processing the coins. There are two official desktop wallets and an iOS app with Android to become available soon.
Litecoin Core - the Official Litecoin Wallet (Desktop)
This is the official wallet for Litecoin. It’s a desktop wallet available for Windows, Mac and Linux, and no registration or personal information is required to use it. It is also free to use.
It synchronizes with the entire blockchain, which can take a few days. Using this wallet helps secure the entire network.
Electrum LTC (Desktop)
A fork of the Bitcoin wallet Electrum specifically created for Litecoin. It is available for Mac, Windows, and Linux.
The advantage of Electrum LTC is its fast synchronization.
Trezor (Hardware Wallet)
Trezor was first created to be used with Bitcoin, but it can be used for Litecoins as well.
Ledger Nano S (Hardware Wallet)
Another hardware wallet where Litecoin is stored offline directly on the device. Whenever you want to spend your Litecoins, Ledger Nano S signs it using the private key stored on the device.
Jaxx (Mobile Wallet)
The multi-asset wallet by the Canadian company Decentral, supports multiple cryptocurrencies and LTC is one of them. Jaxx is elegantly designed and features robust security. Private keys never leave the device.
Jaxx wallet runs on desktops on Windows, Mac OS, Linux or as an extension in Chrome and Firefox, it also has a mobile app for both Apple and Android.
LoafWallet (Mobile Wallet iOS only)
A mobile wallet that’s easy and safe to use. Developed originally by Charlie Lee, now maintained by the Litecoin Foundation. An Android version is on the 2017 roadmap.
Litecoin is stored in special wallets that consist of private and
public keys (see above). There’s a huge number of cryptocurrency wallets with
different features and it’s hard to recommend one that would cover all your needs.
Let’s see the major differences between various wallets.
They represent the so-called cold wallets, meaning they operate offline - unless a payment needs to be made. Hardware wallets store your private keys on a storage medium, and usually connect to a computer via USB to make a payment transaction, after entering a pin. Easy to use with a high level of security. The best Litecoin hardware wallets are Trezor Model T, Trezor One.
You can download and install these on your computer. They will only work and be accessible on this single computer. They are among the most secure wallets, unless your computer gets hacked or attacked by a virus. The best desktop Litecoin wallets are Ledger Nano S, Ledger Blue, Jaxx.
These don’t offer as much functionality compared to desktop wallets, however their convenience lies in the fact that you always have the wallet with you and can use it anywhere, e.g. to pay at a retail store. The best mobile Litecoin wallets are Jaxx, LoafWallet, Coinomi.
Online wallets run on a server and can be accessed from any device at any location. They are the most convenient to use, but remember that your private keys are stored online and with a third-party - the probability of hackers’ attacks and theft is higher. The most reliable online Litecoin wallets are Jaxx, CoinSpot, CoinSpace.
Although it sounds strange or even funny to talk about paper wallets in connection
with a digital currency, they exist - in the form of printed-out private and public
keys. Because of their physical (and offline) nature, they provide a very high level
of online security.
Which Litecoin Wallet Should I Use?
There’s no single answer. It is best to realize what is the desired purpose of the
wallet. If you want to use it to regularly pay and receive small amounts
of Litecoin, then mobile or online wallet makes sense due to their
ease of use. If however, you want to use the wallet to hold a
small Litecoin fortune then security should be your priority. The
range of devices you use the most often will also help determine what wallets are
best for you, as there is at least one for each type of device.
It is best to approach Litecoin wallets as you would your regular money
- cash and credit card is used for small payments (hot wallets-mobile), while your
savings sit securely in a saving account (cold wallet-hardware), or spread out in
several investments. Choosing a wallet which makes the private key with which you
dispose of your cryptocurrency visible only to you is most important. Our top picks
for Litecoin would be Trezor Model T and Trezor One for a
secure storage of your private keys.
How do I get a Litecoin address?
Getting a Litecoin adress is easier than it looks. For this you will
need to set up a Litecoin wallet of your choice. Check out our wallets
section for advice on which type of wallet will suit you best. Once you've set up a
wallet, for receiving or sending coins your wallet client will each time generate a
unique Litecoin adress.