Just a few questions


#1

I bought 50 USD of LTC when it was around 28.00 or so just a little bit ago. It seems like it’s going to go up over the next few months and/or years. I bought another 100 just now because why not. If anything goes south, I only lose a few bucks, Good chance to gain I guess.

Should I be keeping my coins on a wallet on my PC? I heard Electrum-LTC was good. Is it better to keep them on there vs on Coinbase or where ever I buy from? I probably won’t be selling them anytime soon. I’m just going to hold onto them for a long while. Or if nothing else I’ll be buying stuff with them in the future.

Are there any websites I can read more about the future of Litecoin? Kind of like a stock guide, but for LTC? I follow threads on reddit, not sure of many others besides this forum really.

I’m super new to this and just thought I’d ask around. Hopefully it all works out in the end, not looking for a quick buck, but looking for long term.


#2

In my opinion you are the perfect candidate for a Hardware Wallet. You have the choice between Ledger Nano S, Trezor or Keepkey. You just invested the equivalent of $4500 - why not put an additional $100 tops and buy the best storage you can get. With a hardware wallet, your private keys will never see the light of day, and they will be in your pocket - not controlled by a website. For more than 1 bitcoin equivalent, I don’t recommend any of the Online wallets, including Coinbase, any Exchange, or any PC based wallets where the keys are kept on a hard disk (or USB disk).

With Trezor (and alike), you can use their portal, or use Electrum for faster transactions, if need be. Even if you use those kind of wallets, you are still in full control of your private keys. Furthermore, if you have a combination of Bitcoin, Litecoin, or Ethereum, they can all be stored on the same device - protected by the same 24 words. Those 24 words (seed) is what you have to protect on your life, not the device itself. If you loose the device, your 24 words can replicate all your private keys (coins) on another device, or by any HD-capable wallet.


#3

I’m sorry I wrote that wrong. I only bought 4.9 LTC haha. I wish I was rich enough to afford that many LTC. I spent 150 U$D total over the past 8 days. It’s just a start for me. My goal is to spend 50-100 U$D on LTC every week or 2 for the next while, as long as it stays under 35~.

I’ll take your advice though, and as soon as I end up hitting 1 BTC equivalent I will move to to either a hardware wallet, or move it to my Electrum wallet. Should I be buying my coins straight to my computer wallet, or is just keeping them in the online wallet good for now and just move them when I get a bunch of them?

Thanks again!