For the last few weeks, we have been taking you on a journey to explore the benefits of Litecoin. So far, you may have come across the description of LTC that say Litecoin is the silver to BTC’s gold. Although it sounds poetic, apparently Litecoin has certain advantages over Bitcoin. It is true that Bitcoin has much wider adoption and well-established brand image. However, we have seen how beneficial Litecoin can be when used in online gaming. If you are a Litecoin fan, you need to browse the Litecoin wallets and make a smart choice, focusing on both security and fees. This is a short overview with some basic Litecoin wallets info, as well as fun facts, some of which we came across for the first time while researching for this text.
Litecoin Wallets Offline
Litecoin wallets which are used offline are probably the most secure wallets out there. We also refer to these as “cold storages”. They store your money and your passwords offline all the time, which is a big plus security-wise.
On the other hand, offline Litecoin wallets come at a certain cost. It is entirely up to a user to decide whether to go for the less expensive or a pricey wallet. One thing you should know: cryptos are generally considered to be well protected, both offline and online. Basically, offline Litecoin wallets are recommended for people holding larger amounts of money. Lastly, when choosing a wallet, you should also ask around about the fees which each wallet charges per transaction.
Litecoin Wallets Online
Online Litecoin wallets are easily accessible and affordable. As a matter of fact, these apps are usually free to use. Online Litecoin wallets store your money offline, or in a virtual vault. To access the account, each user would need to use a two-step authenticator. Moreover, the transactions are all encrypted, as well as your private keys, i.e. passwords.
When it comes to online Litecoin wallets, perhaps the most familiar one is the wallet native to the crypto exchange Coinbase. Here, the same as with offline wallets, you would need to check the fees, prior to handling the funds.
As a quick reminder, our crypto casino Yabby makes sure the fees at our side are extremely low. Remember, Litecoin transactions could be 100 times less expensive than Bitcoin’s. However, wallets play a certain part in the overall fees, so make sure to check them out in time. Coinbase has a section on the site where they explained the fees in detail:
Litecoin Fun Facts:
Once you have your wallet set up, and you have explored the advantages of playing with Litecoin, as well as the guidelines to both Depositing and Withdrawing in Litecoin, you are all set to start playing!
For the curious ones, here are a few Litecoin fun facts, to spice up the story:
- Did you know that the first Litecoin transaction happened in May 2017? It took less than a second. How is that for the extremely fast transactions?
- The highest Litecoin price so far has reportedly been $310.73 on April 17th, 2021. At the moment of writing of this text, the LTC price is $137.99.
- Litecoin halving happens in order to preserve the Litecoin’s purchasing power. When it happens, the mining reward reduces the number of Litecoins per block by a half.
- The Litecoin Foundation reportedly estimated that it will be the year 2142 until we reach the maximum of 84 million Litecoins.
One of the coolest, fastest, and the most affordable cryptos is waiting to engage in a game. Give it a try!