One of the original altcoins, anticipation around the price of litecoin is growing in 2024, ahead of the much anticipated halving event. If you want to buy and hold LTC, you need a trusted wallet. It’s important to consider several factors when choosing a wallet, including ease of use, security, extra features, and compatibility with other cryptocurrencies. Here are the seven best litecoin wallet options on the market, chosen by BeInCrypto.
What is litecoin? (LTC)
Litecoin was first created as a fork of bitcoin: a peer-to-peer (p2p) payment network that could improve on bitcoin’s speed, as well as be able to scale better and be less centralized. Often termed the “silver to bitcoin’s gold,” litecoin, while established as a resilient altcoin, has not seen the highs of it’s better-known cousin.
In 2023, Litecoin experienced both higher highs and lower lows for the year, its vast swings being attributed to the volatility of the bear market in that same year. However, it would eventually break out its September line of resistance where it reached a low of about $60 to recover in December at over $70.
“My vision is people would use litecoin every day to buy things. It would just be the payment method of choice.”Founder at Litecoin Foundation, Charlie Lee: Binance Feed
What are the best litecoin wallets?
It’s pivotal to gauge its ease of use, security, features, and compatibility with other cryptocurrencies. The latest crypto wallets feature advanced security measures such as two-factor authentication to secure their user’s digital assets. Also, it is an added advantage for a wallet to feature a user-friendly interface that supports fiat currencies.
The Paybis Wallet is a wallet where simplicity and advanced technology meet, ensuring a seamless experience for users across various regions, including the U.S., Canada, the DACH region, Northern Europe, and beyond.
With a welcome offer of zero fees on the first transaction, Paybis immediately positions itself as an enticing option for both new and seasoned users. The wallet supports a diverse range of over 35 digital currencies and has a low entry threshold with a minimum fiat deposit requirement of just $5, positioning it as an exceptionally user-friendly option in the market.
The platform distinguishes itself through a combination of intuitive ease of use and the latest in security technology. By incorporating MPC technology, Paybis Wallet provides the peace of mind that comes with non-custodial wallets, while still offering the convenience of custodial services.
Users enjoy the benefit of never having full private key storage, diminishing the risk of total loss in case of a security breach.
- No fees on the initial transaction, making it a cost-effective choice.
- A streamlined and intuitive user experience is ideal for beginners.
- Multiple payment methods, including credit and debit cards, Google Pay, Apple Pay, ACH transfers, and Skrill.
- Immediate payouts and secure asset storage with on-chain wallets.
- Compliance with KYC and AML regulations ensures trust and safety.
- Higher trading fees may be a downside for some users.
LiteWallet is the official wallet for litecoin, backed and developed by the Litecoin Foundation and Charlie Lee. The digital wallet allows users to store, send, and receive LTC.
Users can easily download the LiteWallet without any verification. However, do note that verification is required to complete any transactions. The wallet features a sleek design with a clean user dashboard.
Users can easily track their portfolios with in-built price tickers. In terms of security measures, LiteWallet employs a standard passphrase mechanism. This doubles up as an encryption tool while eliminating unauthorized access to the wallet. The wallet employs Touch ID biometrics that secure the crypto wallet. Notably, Litewallet code is open source. Github is used to maintain the codebase.
- A simple, straightforward way to store LTC
- A simple codebase means the wallet is quick, responsive, and doesn’t suffer from obvious lag
- Users can connect easily to the Litecoin network
- Some users raise concerns about the lack of customer service
- Not good if you want to hold multiple cryptos in the same wallet
Trust Wallet is a popular option for novice and experienced crypto users alike. The official wallet of the Binance exchange, the hot wallet is best suited for storing small sums of litecoin or for trading purposes. The wallet is perfect for beginners, offering an intuitive interface with a face/touch ID option to enhance security.
Apart from supporting litecoin, Trust Wallet supports over 4.5 million digital assets and over 65 blockchain networks. Users can easily store, send, and receive millions of digital assets and access thousands of decentralized applications (DApps). The wallet also offers staking capabilities, allowing users to earn interest on their investments. The mobile wallet is completely free and doesn’t feature any subscription fees. However, users will incur fees for in-app transactions or swaps
- Perfect gateway to web3
- Good for beginners
- Open-source code
- Integration with Binance
- No integration with hardware / cold storage wallets
Exodus is another solid non-custodial wallet that supports litecoin and other cryptos. The litecoin wallet offers users complete control of their wallet’s private keys. Exodus is completely free and compatible with most devices, including Android, macOS, Windows, and Linux systems.
Exodus features a variety of safety measures to protect users’ private keys. Another extra point comes from the knowledge base offered to its users. The wallet offers a solid library of information, including common questions and blockchain educational material. This crypto wallet supports 50+ currencies besides litecoin and 1,000+ assets.
One impressive feature of Exodus wallet is the wallet’s in-built token swaps. This allows users to seamlessly swap their cryptocurrencies, meaning users can easily trade any supported assets with no sign-up or account creation necessary. For the majority of these swaps, no identity verification is required. For crypto users who prioritize privacy, this is a key wallet benefit.
Both Trezor Model’s T and One are beginner-friendly wallets that are easy to set up and use. Users can purchase litecoin and other tokens directly through the interactive Trezor Wallet application. Moreover, users can easily exchange their litecoin and other digital wallets within the app.
Similar to Ledger Nano X, the diverse features make it an ideal choice for beginners in the crypto space. Also, users don’t have to register with an exchange to make their first purchase of litecoin or other digital assets.
The physical wallet features a large touchscreen display with full color. The large display makes it easier for users to enter PINs and review their litecoin addresses. Unfortunately, the Model T does not support Apple devices.
An added security layer with the Model T is its micro SD slot. The Trezor Wallet gets bound to the microSD card after enabling this feature. Also, it cannot be unlocked when the card is inserted. Users can also turn off this feature anytime while unlocking their Trezor.
- Top-tier security
- User-friendly interface
- Regular update
- Community trust
- Ten years on the market
- Higher price if compared to competitors
- Model One doesn’t come with a touchscreen option
The Guarda Wallet is a highly secure crypto wallet that enables investors to manage their litecoin and other digital assets in one place. It offers multiple features for experienced and novice investors to manage their digital assets.
Users can easily navigate the wallet due to its user-friendly interface and excellent customer support. Additionally, Guarda is a self-custody and multi-asset crypto wallet that enables users to store, swap, earn, and buy litecoin easily — alongside other cryptocurrencies.
Users can easily earn interest on their digital assets through in-app staking. Most digital coins feature an opt-in for staking available across the platform.
Unlike other litecoin wallets on the list, Guarda charges transaction fees for their in-app crypto purchases—the standard rate for a normal transaction fee is 5.5%. However, the wallet does offer customizable transaction fees for its users.
- Easy to use
- Stores multiple cryptocurrencies in addition to Litecoin
- Free to use
- In-app crypto purchases are relatively pricey compared to competitors
Atomic Wallet is a decentralized non-custodial wallet with both a mobile and desktop option. It features an easy-to-use interface that makes it easy for investors to navigate securely and anonymously. The wallet is secured with a password or a PIN. This depends on whether the desktop or mobile app is used.
Apart from security, Atomic Wallet offers users decent privacy and anonymity. It does not require users to KYC to access funds stored in the wallet. It also offers anonymous transactions through its conjoin-enabled transactions.
Moreover, the Atomic Wallet app allows for the in-app swapping of tokens without leaving the wallet interface. This feature is available on both mobile and desktop versions.
- Supports multiple cryptocurrencies
- In-app staking features
- Supports desktop and mobile
- Users report rumored infrequent hacks
- Not compatible with many hardware wallets
Which wallet is the best option?
As this list shows, there are a number of good choices for storing your LTC. If you are planning to HODL and only require security, you can’t go wrong with the Trezor wallet. On the other hand, if you desire more features for various crypto activities, the Trust Wallet is also a good choice. Regardless of the litecoin wallet you opt for — always DYOR (do your own research) and never invest more than you can afford to lose.
Frequently asked questions
Does litecoin have a wallet?
Is Coinbase a litecoin wallet?
Is litecoin on MetaMask?
Which wallets accept litecoin?
Is litecoin listed on Binance?
Who runs litecoin?
Top crypto platforms in the US | December 2023
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