Litecoin Core Wallet secure?


#1

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?


#2

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.


#3

Thank you losh11 that’s very helpful. It’s a brave new world in this crypto currency world.


#4

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…