Bitcoin Forum

Hi guys. What is your recommended wallet for litecoin? im thinking of buying this week and hold.

the good thing about Litecoin is that it is old and a copy of bitcoin and also has a good development team. all these means you have lots of options, very similar to bitcoin options for storing long term. so your answer is the same as bitcoin for long term holding.

1. hardware wallets. i believe Trezor and possibly others support LTC.
#this is a costly method but easy and secure.

2. paper wallets. there is a nice fork of bitaddress.org called liteaddress.org which you can use to generate a secure paper wallet offline https://github.com/litecoin-project/liteaddress.org
#this is free but harder to use, you need to sweep it later when you want to spend and create a new one.

3. SPV wallet called Electrum-ltc which is similar to Electrum for bitcoin (a fork of it) which is light an small. https://electrum-ltc.org/ you can use the same cold storage guide from Electrum for this also: http://docs.electrum.org/en/latest/coldstorage.html
#this is more flexible, but can be a bit complicated to use as cold storage. but very easy to use as your hot desktop wallet.

4. obviously the official wallet called litecoin core which is a full node like bitcoin core https://litecoin.org/#download
#this is hard to sync since the blockchain size is big.

If you are holding it for years,i suggest you to use ledger nano s or trezor these are hardwallets for me its most secure wallet available and i dont trust online wallets cause anytime the developers or founders can steal your coins.

Honestly i think the best way to store your lite coins is probably through a hardware wallet, or just downloading from the official lite coin website. That way you know for sure that you are controlling your own LTC and there is no counterparty risk whatsoever.

But, if you want a multi coin wallet that allows you to do the same thing, but potentially leak some of your privacy, use exodus.

I have had pretty good experience with using exodus and would definitely recommend them to you, if for small amounts.

Thank you for your feedbacks. Im just wondering if there are other applications aside from Coinbase where I can buy LTC directly using Fiat money.?

At this moment the Nano S can be accessed via a Chrome app (eg ETH, BTC, LTC, etc.) What happens if in the future it will be banned (government, regulation) to offer these kind of apps via Chrome. How can you then access your Nano S? Or the support via the manufacterer of the Nano S quits.