How to open a litecoin wallet?

Create the Litecoin wallet register online best free exchange Litecoin to Bitcoin Litecoin, Peercoin, Dash, Ethereum



 

To start working with a Litecoin you have to open, register, and create the Litecoin wallet online. Our company The HolyTransaction offers the easiest way of the best free Litecoin wallet registration. Using our services you can open, register, and create the Litecoin wallet online within few minutes. Create the Litecoin wallet with the HolyTransaction. Using the Litecoin online wallet you can perform the Litecoin exchange to Peercoin, Bitcoin, Dogecoin, Ethereum, Dash, Gridcoin, OmniLayer via online exchange tools.
With the Litecoin wallet you can also pay for certain goods and services. The usage of the cryptocurrency is constantly expanding, and the volume and capitalization of digital currencies are growing. The main advantage of the world’s cryptocurrencies and the Litecoin, in particular, is the decentralization. That is, there is no center of control over the cryptocurrency release. Therefore, any country or government cannot create the conditions that will lead to the collapse of the Litecoin cryptocurrency. The cryptocurrency is not influenced by the fluctuations on the financial markets. At the same time, the fluctuations of the Litecoin rate that depends on supply and demand allows to trade on the currency and stock markets.
How to create the Litecoin wallet online? With the HolyTransaction company you can open, register and create the best free Litecoin wallet and run the Litecoin exchange to Peercoin, Bitcoin, Dogecoin, Ethereum, Dash, Gridcoin, OmniLayer. An important quality of the Litecoin wallet is its anonymity. The Litecoin wallet does not contain any personal information about its owner. All the payment for services, and goods or the Litecoin exchange to Peercoin, Bitcoin, Dogecoin, Ethereum, Dash, Gridcoin, OmniLayer are performed anonymously and without intermediaries. By registering the Litecoin wallet you get full control over your finances.
What is the Litecoin cryptocurrency? The Litecoin is a cryptocurrency, which can be obtained as a result of the special computer mathematical and cryptographic operations. The Litecoin is considered to be the world’s second most popular digital currency after bitcoin. The founder of the Litecoin cryptocurrency is Charlie Lee, the programmer of the Coinbase company. Set out to create a more perfect cryptocurrency than bitcoin, Charlie Lee wrote the source code, and as a result of it the world has got a new cryptocurrency – the Litecoin. The Litecoin is based on the open source and does not have a single emission center.

https://www.youtube.com/watch?v=s_Bq_9CAZ5k

How to get started with litecoin



If you’re new to the cryptocurrency world, you’d be forgiven for not having heard of litecoin. The currency, which was created by Charles Lee in 2011, is the second largest digital currency next to bitcoin. Here is our guide to what you need to know.

If you are used to using bitcoin, litecoin holds few surprises – if you’re not yet initiated, read our guides on What is bitcoin and Why use bitcoin. The ideas in those guides also apply to litecoin.The primary desktop application is a modification of Bitcoin-QT client, and can be downloaded from litecoin’s website. This can also act as a wallet. Other litecoin wallets are available on We Use Litecoin.

There are important differences though. For starters, while bitcoin has a cap of 21 million coins, litecoin will be four times larger at 84 million.

Just like bitcoin, litecoin has started with a mining reward of 50 coins per block. However, the litecoin reward will halve every 840,000 blocks. Again this is four times larger than the 210,000 block threshold in bitcoin.

The transaction fee for litecoin is 0.02 LTC, which is proportionately higher than the minimum bitcoin fee of 0.0001 BTC, however, keep in mind that a litecoin is currently worth 0.019 BTC.

The factor of four difference between litecoin and bitcoin persists into the block time too. The block time is the time it is supposed to take miners to confirm a block on the block chain.

For bitcoin this is 10 minutes, but for litecoin it is just 2.5 minutes. This means that litecoin has the potential to be more attractive to merchants as there will be less time to wait to ensure that a payment has been received from customers.

Litecoin intelligence



LitecoinIn terms of the web ecosystem around litecoin, you’ll find a block chain explorer here, however it’s in beta and far from the sophistication of blockchain.infofor bitcoin.

You should also check out http://explorer.litecoin.net/.

Litecoin also has a charts website (like Bitcoincharts) at http://www.ltc-charts.com, where litecoin’s performance against BTC and USD is compared on several exchanges. Data spans up to one year ago from the current date.

If you want to get involved in the litecoin community, you’ll want to join the forum (you’ll also find limited litecoin discussion on the bitcoin forum) and/or subscribe to the litecoin subreddit. Also, Litecoin Rates provides a quick lookup services for exchange rates between litecoin, bitcoin and various fiat currencies.

Buying and trading



The next most important aspect to address is where on earth to obtain litecoin?

Unless you’re a miner (more on that later), you’ll need to buy from one of several exchanges, Litecoin’s forum – or in person, alá LocalBitcoins style.

The places we know of that you can buy litecoin from are as follows:BitBargain UK, bittylicious, Bitfinex, BTC-e, BTER, Kraken, Cryptsy, Vircurex, and last but not least, the latest entrant into the crypto-exchange world CoinMKT.

Litecoin so far has nowhere near the acceptance of bitcoin, and as such there are far fewer merchants accepting the currency.

However, you can find a few useful links over at We Use Litecoins.

For example, there’s Jobs for Litecoins which is a subreddit for litecoin-accepting freelancers.

Litecoin mining



Data miningAn important aspect that separates litecoin from bitcoin is that it uses a totally different ‘proof of work’ algorithm than bitcoin does.

Bitcoin uses the SHA256 hashing algorithm, while litecoin uses the scrypt algorithm. While SHA256 favours systems with the largest raw processing power, scrypt’s algorithm, according to Wikipedia, was specifically designed to make it costly to perform large scale custom hardware attacks by requiring large amounts of memory.

In other words, the system favours systems with large amounts of RAM (which is relatively expensive), and is a form of a “Memory Hard Problem”. Otherwise, transactions work just as they do in bitcoin.

What this means for prospective miners is that super expensive bitcoin FPGA and ASIC hardware is of no advantage in scrypt mining.

The good news is that computers with powerful graphics cards (i.e. GPUs) that were once used for bitcoin mining but have been made obsolete can be repurposed for litecoin mining. The process of mining litecoin is, otherwise, the same as bitcoin mining.

Just as with other crypto-mining, there are mining pools to make the process somewhat more rewarding for participants, and you can find a comprehensive list of litecoin pools over at We Use Litecoins.

If you intend to either join a pool or solo mine, the software of choice is cgminer. However, be careful as this Australian blogger described: the combination of electricity costs, litecoin difficulty and USD price could mean that mining isn’t profitable for you – so do your homework on your local utility prices!

There’s a good guide into the details of setting up a litecoin miner over at cryptocur.com.

Closing thoughts



So now you know more about litecoin, however there is still the case to make of why you should use it.

Well, it’s not going to be for everyone, just like cryptocurrency in general isn’t for everyone.

It’s certainly true though that – just as for bitcoin – it faces a chicken and egg problem. It isn’t going to be adopted if it isn’t used, and it’s less likely to be used if it isn’t adopted more.

However, just as was pointed out in our interview with founder Charles Lee, “One possibility is that bitcoin will be used for more expensive purchases, whereas litecoin will take up the microtransaction space”, Lee suggests (which also explains his focus on variable transaction fees).

The low fees and fast transaction time make a compelling case for litecoin adoption in small businesses that need to leverage every advantage they can find to make them more appealing than larger, less agile, companies.

How to create a secure Litecoin wallet



How-to-create-a-secure-Litecoin-wallet

If you are reading this post, then you probably already heard of Bitcoin. So what is Litecoin? Both Bitcoin and Litecoin is a digital currency or in the crypto world, it’s known as crypto-currencies. If Bitcoin is internet’s gold, Litecoin is the silver.

Litecoins are stored in digital wallets which consists of online wallet for your day-to-day trading as well as offline wallet where you can stash it away safely. In this tutorial, we will guide you on how to create a completely secure offline wallet stored in a thumb drive.

Guide to create a secure Litecoin wallet

To get started with this tutorial, all you need is a thumb drive that would be used to store your offline Litecoin wallet. I will recommend that you have more than one thumb drive as a backup just in case something happens to your main.

Step 1 : Ubuntu Operating System

The reason it is so secure is because we will be using Ubuntu operating system to avoid any spyware, malware and viruses. Download Ubuntu from the official site, ubuntu.com. Then you can move on to the next step. We will need the downloaded file later.

Step 2 : Universal USB Installer

Next is to make a bootable thumb drive. It is quite easy as we will use a simple program to assist us in creating the bootable thumb drive.

  • Go to the Universal Installer Site to download the USB installer.
  • Once the download completes, install the program.

Step 3 : Create a bootable thumb drive

Launch Universal USB Installer.

  • Step 1 : select Ubuntu.
  • Step 2 : select the Ubuntu file you have downloaded earlier.
  • Step 3 : select your thumb drive. If it does not show up, restart the program with your thumb drive plugged in.
  • We want to start with a clean thumb drive, so under Step 3, tick the tiny box to format the thumb drive.
  • Click create and let it run.
How-to-create-a-secure-Litecoin-wallet-01

Step 4 : Before restarting in Ubuntu

So you have everything ready to boot up your machine to run Ubuntu. But before you do a reboot, read on the following steps and remember our page at RumorsCity.com so that you can come back and refer, in case you need to.

Step 5 : Reboot to Ubuntu

  • With the thumb drive plugged in, restart your computer.
  • It should start Ubuntu automatically, if not, hit Esc or Del key while your computer is booting up.
  • Important: select Run Ubuntu from USB drive from the popup. Do not install Ubuntu so that you do not keep any information on your computer and will have a fresh operating system each time you access your wallet.

Step 6 : Download Litecoin client

Once you have successfully booted into Ubuntu operating system, the next step is to download the Litecoin client.

  • Connect to the internet.
  • Download Litecoin client from the official Litecoin webpage. Choose the Linux version since you are not running Windows now.
How-to-create-a-secure-Litecoin-wallet-02
  • Extract the downloaded file and remember the location it’s extracted to.

Step 7 : Secure your Litecoin wallet

You have everything ready and this is the final step where you store your Litecoin wallet securely in a thumb drive.

  • From the extracted folder, go to > Bin > 32. Launch Litecoin client which is the file named litecoin-qt.
How-to-create-a-secure-Litecoin-wallet-3
  • After you have launched the Litecoin client, close it. The reason that we launch it is to create a wallet.dat file.
  • Open Home folder, which is like your explorer in Windows.
  • Move your mouse to the top left of the screen and you should be able to see a familiar Windows styled menu.
  • Select Edit > Preferences.
How-to-create-a-secure-Litecoin-wallet-04
  • Tick on the box Show hidden and backup files. Then Close the dialog box.
How-to-create-a-secure-Litecoin-wallet-05
  •  With the hidden files visible, go in to home > .litecoin folder.
  • Look for a file named wallet.dat and right click to copy it.
How-to-create-a-secure-Litecoin-wallet-06
  • Now while still in the program Home Folder, select your USB drive on the left side of the window. Right click to paste wallet.dat file to your thumb drive. You have successfully stored your Litecoin wallet on the thumb drive, secured from malware and viruses.

Step 8 : Retrieve your wallet

In future, in order to open your secure Litecoin wallet, boot Ubuntu from your thumb drive, then install Litecoin client like you did in Step 6. Instead of continuing to Step 7, this time you will need to paste the wallet.dat file from your thumb drive to .litecoin folder and you are good to go.

Important: Make sure you do not overwrite your wallet.dat file that’s stored securely on your thumb drive. To be safe, backup the same wallet.dat file on more than one thumb drive just in case something happens to the main. Then keep your thumb drive somewhere safe and you don’t have to worry about encrypting it.

Tips

You can continue using your online wallet for day-to-day trading, but only store an amount necessary for trading. And every now and then, you can transfer coins into your savings account which is your secured wallet on the bootable thumb drive. So you will have a peace of mind knowing no one can access to your savings while you were asleep and the only way for someone to steal your coins, will be to steal your physical wallet which is your thumb drive.

Litecoin



Litecoin price history graph

Litecoin (LTC or Ł) is a peer-to-peercryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open sourcecryptographic protocoland is not managed by any central authority. While inspired by, and in most regards technically nearly identical to Bitcoin (BTC), Litecoin has some minor technical differences compared to Bitcoin and other major cryptocurrencies.

History



Litecoin was released via an open-sourceclient on GitHub on October 7, 2011 by Charlie Lee, a former Google employee. The Litecoin network went live on October 13, 2011. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.

During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.

Litecoin reached a $1 billion market capitalization in November 2013. By late November 2017, its market capitalization was US$4,600,081,733 ($85.18 per coin).

In May 2017, Litecoin became the first of the top-5 (by market cap) cryptocurrencies to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed through Litecoin, transferring 0.00000001 LTC from Zürich to San Francisco in under one second.

Differences from Bitcoin



Litecoin is different in some ways from Bitcoin.

  • The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin’s 10 minutes. The developers claim that this allows Litecoin to have faster transaction confirmation.
  • Litecoin uses scrypt in its proof-of-work algorithm, a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.

Due to Litecoin’s use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.

Litecoin Wallet Access Problem with Ledger Nano S [Solved]



ledger.jpg

Dear investors,

yesterday I had some strange issues regarding my Ledger Nano S hardware-wallet.

While trying to open the Litecoin wallet with the Bitcoin Chrome application, synchronization took forever and I never reached the wallet.

I checked the Ledger knowledge base and found some tips to solve this:

  • disconnect and reconnect your device
  • check that you do not have any firewall or security program which would block our servers
  • uninstall and reinstall your Chrome app

I tried out all of this and also reinstalled the Litecoin app on the Ledger, but nothing helped. At least I was still able to access all the other wallets (like Bitcoin and Ether).

Nightmare?

So I went to sleep and had some really bad nightmares about loosing all my coins. But this morning I tried opening the Litecoin wallet again. And guess what?

When opening the Litecoin wallet I ended up being on a “Bitcoin Test” – Blockchain and the same thing happened when I was trying to open the Bitcoin and Bitcoin Cash wallets.

I was very short before heart attack and opened up the support form on the Ledger-site, but what I read there wasn’t so funny either:

Due to a phenomenal number of messages since the Bitcoin fork, you’ll likely receive an answer within 2 to 3 weeks (Monday-Friday CEST). The best way to fix your issue is most of the time to read our guides and FAQ on http://support.ledgerwallet.com.

Before I really went mad, I had just one more idea: I headed over to reddit and found the Ledger wallet subreddit.

Relieve

I instantly felt a great relieve when I noticed, that I wasn’t the only one having exactly the same issue. Finally it turned out to be a build issue of the Ledger Bitcoin Chrome extension. Ledger just updated the extension to be able to handle the Bitcoin-Segwit addresses, but that somehow disabled the Litecoin wallet.

All I had to do was manually updating the Chrome extension to Version 1.9.2 by going to chrome://extensions/ and manually forcing the update by clicking on “Update extensions now” (must be in developer mode to be able to do so).

And then: TA-DA everything worked as expected.

I am able to access my Litecoin-, Bitcoin- and all the other wallets again!

Hopefully this information is useful for anybody having the same issue and maybe in the near future we are able to find help at Steemit first and don’t have to head over to reddit anymore.

Have a safe weekend everybody!

Best Litecoin Wallet | Top Wallets For Secure LTC Storage



Top Litecoin Wallet

What is Litecoin?



Litecoin (LTC) was announced in 2011 with the goal of being the silver to bitcoin’s gold. It is a peer-to-peer Internet currency and an open source software project that enables instant payments to anyone in the world. Litecoin creation and transfer is based on an open source protocol and is not managed by any central authority. More About Litecoin

What is Litecoin wallet and Litecoin address?



If you wish to work with Litecoins, you should possess a Litecoin Wallet first. It allows you to store Litoshis, send and receive payments immediately. Just like a bank account, your Litecoin wallet has an assigned unique wallet address.

LTC wallets come in a variety of forms, designed for different types of device. There are five main types of wallet: desktop, mobile, web, paper and hardware. Which wallet you choose depends on whether utmost security or increased convenience is more important, and it’s recommended that you don’t stick to one particular type of wallet. Here’s a list of Top and Best Wallets for secure Litecoin storage.

Best Litecoin Wallets (2017 Update)



Note: It is very important to secure and back up your Litoshi wallet. Once you create an account, make sure to backup your wallet. Always store your wallet information (private keys) in a safe and secure place in a printed form or on a secondary storage media such as a USB drive. Never keep your wallet data on your computer.

Litecoin Core

Litecoin Core (formerly Litecoin-Qt) is the reference Litecoin client and is maintained by the Litecoin Development team. It features “full node” capabilities to validate and download the Litecoin blockchain in addition to wallet functionality to manage transactions. When first started, the client will connect to the peer-to-peer network and begin downloading the block chain. Merchants, mining pools and services use the client for its stability, features and security (Linux, Windows, Mac OSX).

Electrum Litecoin Wallet

Electrum LTC is a lightweight Desktop Litecoin Wallet for Windows, Linux and Mac OS X based on Electrum. Electrum LTC is a simple, but powerful Litecoin wallet. A twelve-word security passphrase (or “seed”) leaves intruders stranded and your peace of mind intact. No waiting, no lengthy blockchain downloads and no syncing to the network. Android is not currently supported. We suggest using the official Litecoin Wallet app instead.

LoafWallet iOS Litecoin wallet

Loafwallet is a simple-to-use iPhone app which allows you to send and receive the digital currency Litecoin. It connects directly to the Litecoin network, ensuring the safety of your coins.

Litecoin Wallet for Blackberry

Litecoin Wallet for Blackberry devices is available on Blackberry World Webstore.

LiteVault

LiteVault is a secure online web wallet, which functions inside of your web browser. This allows you to access your Litecoins anywhere, on any device with a web browser. To protect your security, LiteVault cannot access your coins, your wallet is encrypted on their servers and is accessed in-browser.

LiteAddress – Litecoin Wallet Generator

LiteAddress is an open source JavaScript Client-Side Wallet Generator. It is ran in your browser without any interaction with the server, assuring security. You can also download the HTML file on your local computer and run it at any time in your browser, even when offline. Some of the key features offered by LiteAddress wallet generator are: Paper Wallets, Brain Wallets, Vanity Wallets

Block.io Wallet

Block.io is a multi-currency online wallet. You can manage your Bitcoin, Dogecoin and Litecoin in one place.

HolyTransaction

HolyTransaction is the universal cryptocurrency wallet with instant exchange. Access Bitcoin, Litecoin, Dogecoin, Peercoin, Dash, Ethereum, Gridcoin, Blackcoin and Omni Layer with all of its assets from one unified interface.

Cryptonator Online Wallet

Cryptonator is a free multi-cryptocurrency wallet with instant exchange. You can manage different cryptocurrencies in one personal account. Securely store, easily receive and quickly send Bitcoins, Litecoins, Dogecoins and other digital currencies. Combining usability with high level privacy, anonymity and security, Cryptonator Online Litecoin wallet offers free LTC accounts, which are accessible 24/7 worldwide on your laptop, desktop or mobile devices alike.

Exodus Wallet

Exodus gives blockchain asset investors a platform to secure, exchange and manage wealth inside one application. It is the first desktop multi-asset wallet with ShapeShift built in. You can keep your Bitcoin, Ethereum, Litecoin, Dash and Dogecoin all in one place and easily calculate and organize your savings with their pie chart portfolio. The backup wizard will allow you to keep your wallet safe and ready for later use (Windows, Mac and Linux).

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