Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
How to create a cryptocurrency wallet
There are a large number of wallets. Their choice depends on your goals, as well as the convenience of using one or another type.
Hardware
Offline wallets are called hardware wallets, i.e. devices. It looks like an ordinary flash drive. It stores a single file with a dat extension. Such a wallet can be hidden in a bank safe box, or simply carried in a pocket or backpack. Popular among users, the Ledger Nano S device, which costs from 59 euros. It can store more than 1000 types of cryptocurrencies. A huge plus of this device is the impossibility of hacking, because it does not have internet access.
Multiplatform
Multiplatform wallets are wallets that are available simultaneously in mobile, desktop, and web versions. One of the trusted options, EO.Finance supports multiple currencies and can run on all popular platforms, including macOS.
Using the wallet, you can instantly buy cryptocurrency from any bank card, as well as withdraw funds back at any time. You can transfer money to another wallet or exchange directly from the platform. Registration of such wallets is usually done on their official websites.
Desktop
These wallets need to be installed on the computer. There are two types: full-weight and lightweight. The full-fledged ones include Armory, Bitcoin-Core. Their job is to fully download the Bitcoin blockchain, so they take up a lot of space. Lightweight due to the use of partial synchronization are Bither and Electrum, respectively, they “weigh” less.
All applications are free and installed like regular PC programs.
Mobile
Often these are mobile versions of popular computer wallets, which practically repeat their principle of operation. But they cannot load all the blocks due to the small amount of memory. For example, Bitcoin-Core has released a mobile version of its app called Bitcoin Wallet.
Web (online) wallets
Such wallets work on websites. You don't need to download or install anything. Transactions take place online quite quickly. In this case, the wallet charges a commission for using it. There is no need to worry about the fact that the wallet.dat file will be damaged, however, there is a chance that you will end up on a phishing site or an unscrupulous wallet project. And, as in any financial online platform, there is a possibility of a particular wallet being hacked.
