How To Store And Exchange Litecoin With Xapa Wallet

2020-12-01 08:00:00

| Xapa TeamSponsored

The cryptocurrencies world has been going through many phases since its inception in 2009, with numerous project rising and falling. In 2017-2018 the ICO boom shifted the entire market, which resulted in the introduction of many new coins and projects. Currently, there are over 7,000 cryptocurrencies, operating on more than 33,000 markets.  

Only few of the cryptocurrencies find themselves in the list with top crypto assets. One of them is Litecoin (LTC). Litecoin was created by former Google employee Charlie Lee in October 2011. Litecoin’s initial purpose was to act as a lightweight version of the original Bitcoin protocol. What makes Litcoin different from Bitcoin is the variation in hashing algorithm, transaction times, as well as maximum supply.  

Litecoin is considered by many users and large scale investors as the “silver” equivalent to Bitcoin`s “gold”. However, the mining algorithm, Scrypt, is more consumer-friendly, as it allows 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?

All cryptocurrencies must be kept safe and secure, and this is no exception for Litecoin assets. It is also important for users to have the ability to quickly use their Litecoin with various merchants or exchange LTC for other cryptocurrencies in a matter of seconds. For that purpose, users can use Xapa Wallet services.

The most popular types of wallet – hardware and software, have become essential for every crypto enthusiast and investor. The wide range of options that they provide can sometimes be very complex and users are often in doubt of selecting the best provider and features for their needs.

Private keys/passphrase are contained in hardware wallets, which function as a flash drive. You can use your wallet as “cold” storage, which simply acts as an offline vault, securing your crypto stash from a possible online breach. A downside to the “cold” wallets is, however, the intricate process of fund management. This is why more and more users are switching towards online solutions.

Online wallets, also called “hot” wallets are usually in the form of an app or a web-based platform, which provides more than security to your assets. 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. Apart from storing Litecoin, Xapa Wallet users can manage other cryptocurrencies, including Bitcoin, Ethereum, Ripple, Monero, Zchash, Dogecoin, and ERC20 tokens.

To create your own 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.

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