If you’ve heard of bitcoin, you’ve probably heard of silver on bitcoin’s gold. Litecoin. Litecoin is a digital currency like Bitcoin. And just like Bitcoin, you will need a Litecoin wallet to hold on to when you purchase.
You can store your Litecoin in either online wallets or offline wallets depending on your preference.
Steps to Create Your Litecoin Wallet
First step: go to Litecoin.com
When you get to the official website, scroll down to Wallets and click the option that corresponds to your operating system. After you’ve downloaded the wallet, install it and get it working.
Step two: sync the wallet
Once the wallet is installed and running, it will not work until it is synced. Wait a while for the process to complete and then encrypt your wallet.
Step three: encrypt your wallet
Enter a strong password that includes uppercase and lowercase letters, symbols, characters, and numbers. Your password must be secure. After you’ve backed it up, click OK.
Step four: secure your wallet
After creating the wallet. It is important that you secure it. Find the phrase “secure wallet” and click on it. Make sure the file is saved in a safe location. Always back up whenever you update your balance.
Fifth step: sending and receiving Litecoins
At this point, you can send Litecoins from your wallet. Go to the “Send Coins” option and click “Send”. Enter the address you want to send the coins to and the amount you want to send and click Submit.
To get coins, you can either create a payment request and forward it to the person you want to pay, or you can simply give the person your Litecoin wallet address. The Litecoins will appear in your wallet and you will be notified.
How to open and activate a Litecoin account.