There are tons of wallets which will store Litecoin, and we’re choosing Exodus wallet for this purpose. It’s nice looking, easy to use, and supports many currencies other than Litecoin. It’s also free and secure. Start by going to Exodus.io.
Click on “Download” in the upper right hand corner and then choose the Exodus wallet version for the operating system you use. Once you’ve downloaded it, set it up. Carefully write down the private key/pass phrases. They’ll only show you these once, and they’re all you can do to recreate your Exodus wallet if it ever gets destroyed, or you get locked out.
Now that your Exodus wallet is up and running, let’s take a look around inside. Right away you’ll see Litecoin as one of the coin options on the lefthand column of the wallet interface. Click it.
Now click “Receive”. The following window will pop up, and this will display your Exodus Litecoin wallet address. Anyone who wants to send you Litecoin will need this address.
Buy Litecoin With Coinbase
Because Litecoin is one of the world’s biggest cryptocurrencies, it’s available on the world’s most well-known exchange: Coinbase. If you want to use this method, go to Coinbase.com now and register a new account, using a working email and a unique password. Once inside, link your bank using the simple prompts given to you as your complete your account. Once you have a payment method linked (like a bank account/debit card), you’ll be able to buy Litecoin directly. It’s so easy to buy Litecoin on Coinbase, we’re sure you could figure it out yourself, but we’ll show you anyway just in case you have issues.
Here on the homepage you’ll be able to look at the recent price history of all four coins Coinbase sells: Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. To buy, click “Buy/Sell” seen at the top left of the image below.
Click on the Litecoin block, just like you see in the next image.
Now select how much Litecoin you wish to buy. As a new account holder, you won’t be able to buy as much Litecoin at one time as the user from the image below, but your daily buy limit will be increased in time. Notice on the right side of the screen 1) the date on which your Litecoin order will clear (it always takes a week or so) and 2) the Coinbase fee charged along with your order. Notice that the fee doesn’t add to your total. Instead, it is deducted from the money you’re spending on Litecoin, so if you were to spend $25,000 on Litecoin like in the image below, you would actually get just over $24,600. When you’re ready, click the blue “Buy Litecoin – $XX” button.
You’ll get a confirmation popup window. Confirm the transaction. Then just wait. Like we said, it’ll take a few days for your Litecoin to arrive, but the amount you receive is set in stone. If the Litecoin price goes up in the time it takes to get to your Coinbase Litecoin wallet, you’ll see all of those profits.
Fast forward. It’s the future, and your Litecoin has arrived in your Coinbase Litecoin wallet! Now, you should never keep your coins on an exchange like Coinbase, because there are hackers all over the world constantly trying to break into Coinbase to steal everybody’s cryptocurrencies. Don’t let that happen to you, if and when the next hack is successful. Instead, send your Litecoin to the Exodus Wallet we made in the previous section.
Click “Accounts” at the top menu on the homepage. This will take you to a screen that contains the wallets seen below. Click “Send” beside the Litecoin wallet. This will create a popup that will ask you what address you want to send your Litecoin to. Paste your Exodus Litecoin wallet address here (again, you can see all of this info in the previous section). Then choose to send all of your Litecoin. Then confirm the transaction. In just a few minutes your Litecoin will be in your Exodus Litecoin wallet!