Hi I’m new to Litecoin. Can you tell me if a Litecoin core wallet is secure? I really am new to this whole world. Should i keep and trust my coins in this wallet or do something else?
Litecoin Core is the reference client. This means that any and all tech running on the Litecoin Network is built upon Litecoin Core - and thus it is pretty secure.
However, if you are a new users I would suggest using a lightweight wallets such as Electrum-LTC or Exodus.io. If you’re on mobile, a popular lightweight wallet is: LoafWallet. These clients don’t need to sync for hours, and you can retrieve all of your coins from a twelve word recovery phrase.
Lightweight wallets are just as secure as Litecoin Core, if not better. For example: to steal coins from LoafWallet iOS you would have to break iOS security. The exploits needed to do this would likely cost hundreds of millions if you sold it to a Government. I don’t think it’s worth the crime for the potentially slightly large amounts of LTC store on LoafWallet.
Thank you losh11 that’s very helpful. It’s a brave new world in this crypto currency world.
its very secure if you use the included encryption and set a passphrase is a good “secure style” passphrase…using multi-signature gives you up to 15 layers of encryption that needs manual signing to spend a key if you want to go that far with the security…