Electrum-LTC is a simple, yet powerful Litecoin wallet. The platform is also known as Lightweight Litecoin Client!
Its unique secret phrase (seed) protect your wallet from hackers and attackers. Caution: Keep it somewhere very safe and don’t worry about losing your Litecoin.
QUICK NAVIGATION :
Electrum LTC Wallet is a desktop-based cryptocurrency wallet that supports Litecoin. Following are some aspects of the wallet: Like its predecessor Electrum – Bitcoin wallet, the open-source wallet is available on GitHub and anyone can review or upgrade the code.
Established: Electrum is an open source which was initially released in November 2011.
Platforms Available: Windows, Linux, Mac OS
Safety: Your private keys and seed are encrypted on your hard drive. The servers never keep them.
Instantly accessible on: The client does not download the blockchain, instead uses a specialized server’s network that index the blockchain.
Low trust: Any detail received from the servers is validated using SPV. Servers work on SSL authentication.
Cold Storage: A Sign transaction is now possible from a system that remains offline. Broadcast them from a machine that does not hold your keys.
No downtimes: The Electrum Litecoin is not bound to a particular server; it switches immediately if your server goes down.
Ubiquitous: User can use the same wallet on separate systems, they synchronize it automatically.
Support: Export your private keys to other Bitcoin clients.
Electrum-LTC Is A Community-Maintained Port Of Electrum, The Bitcoin Wallet, To Litecoin. It Is Not An Official Product Of Electrum Technologies GmbH, Which Does Not Support It.
January 8, 2018:
The Vulnerability Was Found In Electrum And Electrum-LTC. It Was Fixed In Electrum-LTC 3.0.5.1. Please Update Your Software If You Are Running An Earlier Version.
February 2019
Versions of Electrum and Electrum-LTC older than 3.3.3 are vulnerable to a phishing attack, where malicious servers are able to display a message asking users to download a fake version of Electrum. To prevent user exposure, versions older than 3.3 can no longer connect to public servers, and must be upgraded. Do not download software updates from sources other than electrum.org and electrum-ltc.org.
Electrum Litecoin maintains a tamper-proof, remote server. All information is verified via Simplified Payment Verification (SPV). It offers complete accessibility by allowing you to export your private keys to other Litecoin clients.
Find the Electrum Litecoin Client on following channels!
To get started with trading Litecoin, the initial step is to set up a Litecoin wallet. Below are the steps to follow for setting up an Electrum wallet.
Electrum Litecoin wallet creates a 12-word “wallet generation” seed. This is nothing but your password to recover the wallet in case of certain failure.
We recommend you to write it down on a piece of paper and store it in a very safe place. Remember a few things:
Finally, your wallet is now ready to use!
Navigating your Electrum Wallet (Section by Section)
The history screen displays all the history of your Litecoin transactions.
Use this section to send Litecoin to any third party. To send Litecoin:
The crucial part of the “Receive” tab is your Litecoin wallet address. This address you will give to any third party who will send you Litecoin.
The secondary way to retrieve your coins back is by “sweeping” them. Here’s how:
All in all, Electrum has a good reputation in the market. The UI of the wallet may not be pretty enough but the features are worth using. So, that’s it, we are at the end of my Electrum wallet review. I hope you found it useful.
Pi Network's price has been falling, largely due to upcoming token unlocks. Over 1.6 billion…
In the last 30 days, the Ethereum market has experienced a decline of nearly 20.4%.…
In crypto, timing matters just as much as the asset. Many traders are now looking…
Story Highlights The price of Dogecoin today is . Dogecoin price may reach a maximum…
Story Highlights The live price of the Cardano token is . ADA coin price could…
The crypto market is a wild ride. New projects pop up daily, but most fade…