Since its inception in 2009, the world of cryptocurrencies has gone through many phases with numerous projects rising and falling. The most prominent times for the sector were during the 2017-2018 ICO boom. Currently, there are over 7,000 cryptocurrencies, operating on more than 33,000 markets.
Despite the vast range of cryptocurrencies, only a few managed to find themselves in the top list of cryptocurrencies. One of them is Litecoin (LTC). Created by former Google employee Charlie Lee in October 2011, Litecoin’s initial intention was to act as a lightweight version of the original Bitcoin protocol. However, the hashing algorithm, transaction times, as well as maximum supply differ from Bitcoin’s.
Many retail users and investors consider Litecoin to be the “silver” equivalent to Bitcoin’s “gold.” However, the mining algorithm, Scrypt, is more consumer-friendly, as it allows for easy access to GPU and CPU mining on a Windows or a Mac platform, which is no longer available with Bitcoin. The mining reward was initially set at 50 LTC but was halved to 25 in 2015 and to 12.5 on August 5th, 2019. The halving events would continue until Litecoin reaches its maximum coin supply of 84 million LTC.
Storing Litecoin – how and where?
Owning cryptocurrencies like Litecoin, for example, comes tied with a place to keep your stash safe and secure, as well as having the ability to quickly use your Litecoin with various merchants, or exchange LTC for other cryptocurrencies.
Wallets, both hardware, and software became an essential tool for every crypto enthusiast. The vast range of options for storing your crypto stash grants you the chance of choosing the features to best suit your needs. Hardware wallets are like flash drives, which contain your private keys and/or passphrase. You can use your wallet as “cold” storage, which simply acts as an offline vault, securing your crypto stash from a possible online breach. However, offline “cold” wallets have a cumbersome process of fund management. This is why more and more users are opting in for an online solution.
Online wallets, also called “hot” wallets are usually in the form of an app or a web-based platform, that provide more than just keeping your stash safe. Online wallets grant users with many benefits, including easy sending/withdrawal, transferring crypto funds to fiat, and exchanging cryptocurrencies.
Create LTC wallet
Xapa Wallet is a free online wallet solution available both as an Android / iOS app as well as a web platform compatible with all browsers. Users can use Xapa Wallet just like a cold wallet or use the entire tool array, including multiple wallet creation, crypto swaps, crypto fund management all covered by enhanced security. Except for storing Litecoin, users can choose between many different cryptocurrencies, including Bitcoin, Ethereum, Ripple, Monero, Zchash, Dogecoin, and other ERC20 tokens.
To create a wallet, you simply need to sign up for Xapa Wallet’s services and verify your registration through e-mail. After that, creating a wallet is as simple as clicking on “Create wallet” and choosing the desired wallet currency. After the wallet has been created, you can swap Litecoin to Bitcoin or for any other cryptocurrency that Xapa Wallet supports, as long as you have created the corresponding wallets in your app.
Xapa Wallet also includes a massive array of security options, such as two-factor authentication (2FA), pin code input, and secure SSL connection for the web platform.
Share your wallet with friends or colleagues
Wallet address sharing has never been so easy, as Xapa Wallet enables QR-code for sharing public key information with your friends or colleagues. In order to receive crypto, you simply have to give the other party your QR-coded wallet address. You can also send cryptocurrencies to others in the exact same way.