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.
Methodology: How did we select the best wallets for Litecoin (LTC)?
This piece recommends a number of wallets for storing LTC.. BeInCrypto tested each wallet for its UI, security standards, alignment with LTC and other cryptos, cross-chain features, exchange integration, and other elements. Here is what was garnered from the tests and why each wallet is highlighted:
Paybis Wallet for holding LTC
Paybis has global exposure, with services relevant to 180+ nations. This makes the multi-lingual wallet one of the more sought-after options around. At present, the Paybis wallet supports 350+ cryptocurrencies, allowing seamless LTC-to-crypto swaps. 42+ fiat currencies are supported, followed by direct crypto buying methods, including bank transfers, e-wallets, and more. The transaction fees are competitive and can go as high as 2.49%.
LiteWallet and LTC
LiteWallet serves as a native LTC wallet. Besides being accessible on iOS and Android, it brings nifty security traits like Biometric security traits and the option to set recovery seed phrases for seamless fund recovery. The wallet code is open-source, and direct LTC purchases and swaps from within the wallet are supported.
Storing LTC on the Trust Wallet
Trust Wallet excels when multi-chain support is concerned, as it covers 70+ blockchain standards. The wallet also supports NFTs and allows bot integrations for trading via aggregators like Shrimpy, 3Commas, and more. There is an in-app DEX for seamless LTC movement and swaps. Finally, in-wallet LTC and crypto purchases are supported via debit and credit cards.
LTC on Exodus
Exodus happens to be a self-custodial wallet that presently supports 350+ crypto assets. Direct device-specific private key encryption is supported, followed by in-wallet exchange integration. Exodus also lets users buy LTC and other tokens via Moonpay integration.
Holding LTC securely on Trezor
Trezor is a hardware wallet ensuring that LTC tokens are handled more securely than ever, courtesy of the secure element chip. The wallet itself is compatible with 8000+ tokens. Plus, setting it up is seamless enough. The wallet also relies on a more secure 24-word phrase and a backup option termed the Shamir Secret Sharing.
How good is the Guarda wallet for Litecoin (LTC)?
Guarda is community-driven, courtesy of the open-source wallet code. It is free to use and even comes with a staking platform for earning passive income on your crypto holdings. Security-wise, Guarda employs features like the Automatic Session Timeout. Plus, it supports card-based in-wallet crypto purchases.
Atomic wallet for holding LTC
The Atomic Wallet supports cross-chain LTC swaps, courtesy of the built-in support from Changelly. The wallet itself supports 300+ currencies and comes with an integrated NFT gallery and staking options.
Besides the standard tests, each LTC wallet was also stress-tested for its transaction-handling abilities. And there were many more evaluations, each of which can be read about as part of BeInCrypto’s methodology verification.
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.
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1. Paybis Wallet
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.
2. LiteWallet
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
3. Trust 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
4. Exodus
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.
- Integration with Trezor hardware wallet
- The user experience is exceptional.
- Good blockchain educational content
- No phone or chat support
- Code is not open-source
5. Trezor
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
6. Guarda Wallet
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
- Closed-source
- In-app crypto purchases are relatively pricey compared to competitors
7. Atomic Wallet
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
Litecoin does have an official wallet, LiteWallet. However, a number of other wallets support litecoin such as LiteWallet, Trust Wallet, Exodus, Trezor, Guarda Wallet, Atomic Wallet and more. The wallet you choose will be dependent on what you plan to do with your LTC.
Yes, the Coinbase Wallet mobile app supports litecoin. Many other wallets support LTC, including LiteWallet, Trust Wallet, Exodus, Trezor, Guarda Wallet, Atomic Wallet and more. Coinbase is a great option for beginners, due to its intuitive and easy-to-use interface.
No. Users can only hold LTC on MetaMask through the Binance-peg LTC token available on its native blockchain. Binance-pegged tokens are pegged to their respective native tokens/coins on a 1:1 ratio. Alternatively, users can download an alternative wallet that supports the litecoin network and its native currency default without the need to use a wrapped version of the token on other blockchains.
Several digital wallets accept litecoin for sending, receiving, trading, or storage. These include: LiteWallet, Trust Wallet, Exodus and more. The wallet you choose will be dependent on what you plan to do with your LTC.
Yes. Binance offers many options where you can easily buy cryptocurrencies including litecoin, with low fees and strong security. The crypto exchange is one of the most popular and widely used methods to buy and sell crypto.
Charlie Lee is the creator of litecoin and is regarded as a highly successful entrepreneur in the current cryptocurrency space. Lee developed and launched litecoin in 2011, while he was still a software engineer at Google.
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