Litecoin Wallet – Step by Step guide

Written by Paul Sokolov

26 Feb 2019

Litecoin Wallet

Litecoin is a popular cryptocurrency that has been enjoying investor’s attention for a while. Litecoin wallet is necessary for the future cryptocurrency holding. Due to this, Guarda is breaking down the basics of Litecoin wallets.

What is a Litecoin Wallet?

A Litecoin wallet is a programme designed for storing and managing LTC cryptocurrency. The wallet will keep your keys and, in some cases, help with exchanging or buying LTC.

There are several criteria for finding the best Litecoin wallet that we are going to look into in this article.

How to choose a Litecoin Wallet?

When choosing a wallet for Litecoin, the users should pay attention to the following:

Where are your keys stored?

There are many Litecoin wallets out there, but we advise the users to turn to the non-custodial services. Free of custody wallets do not store the private information of their users and do not have access to the funds. The fact that only the users can manage their data and their funds make non-custodial Litecoin wallets a safer option.

Who has access to your backup?

Backup, as well as the keys, is essential to secure LTC holding. By ensuring that you are the only person responsible for your backup, you make your Litecoin crypto journey safer.

What platforms are accessible?

Depending on a wallet you choose, you can gain access to one or several platforms. There are many types of crypto wallets to choose from: from Web to hardware, so make your decision based on your personal needs. It is more convenient to turn to a wallet that is supported across various platforms, so you can gain access to your funds from different devices.

Is your Litecoin wallet functional enough?

If you want to make your Litecoin management easy, make sure to choose a wallet that has additional services – Litecoin exchanges, cryptocurrency purchases, buying LTC with bank cards and so on. For instance, Guarda wallet has Litecoin exchanges provided by our partners – ChangeNOW and Coinswitch. You do not need to send your coins to any other wallet – all the transfers are made directly from and to your Guarda wallet.

Will the wallet you have chosen provide the necessary customer support?

Properly executed customer support is essential to the great cryptocurrency wallet use. Litecoin holders may have some questions that need to be addressed immediately. So, before jumping in with a wallet you like, check the efficiency of their support line.  

Is the wallet development team active?

Check the wallet’s social networks – besides the website, they usually contain the most information on the service. If the people behind the wallet company are active and open to communication, it is always a good karma point!
Check Guarda’s social platforms:

Reddit
Telegram
Facebook
Youtube

Twitter

How to set up a Litecoin wallet:

Create a Litecoin Wallet on Guarda by following the further steps:

  1. On Guarda’s Website, click “Create Wallet”
  2. Proceed with choosing to create a new Web wallet
  3. Make up a password for your wallet. The password is the very essential security measure that grants access to the funds – make sure to keep it safe and out of the public eye. Guarda wallets are non-custodial, so we do not have the copies of your private keys – you are the only person in charge of the personal data.
  4. On the next step, you will need to download your backup. Just as well as the password, the backup is necessary to gain access to the wallet. Save your backup in a place that you know is secure.
  5. Your Litecoin wallet is ready to use – you can store, send, receive and exchange LTC safely on Guarda!

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