When referring to cryptocurrencies, the term “wallet” is slightly misleading: in real world, the wallet is an accessory which holds your money. But in the case of Bitcoin and Litecoin, the wallet is merely a private key management software which allows you to sign and broadcast transactions to the network. The coins aren’t held in these wallets per se every monetary unit exists on a blockchain, but only the correct private key can spend its corresponding amount. So if you lose the device on which this wallet is stored or you accidentally delete the software, it’s not the end of the world: you can always recover your funds if you have the private key stored somewhere safe. But even if you do lose access to your coins and they are forever lost, the network doesn’t know what happened: it assumes you’re just long-term HODLing, and keeps the units as part of the monetary supply forever.

Yet for convenience, in spite of the semantic differences, we still refer to these key signers as wallets. From the get-go, we must make it clear that not all wallets are created equal and you must know the differences. Also, I should mention that this article only recommends the best solutions for Litecoin users.

First and foremost, there are full node wallets (Litecoin Core) and lightweight wallets (Litewallet, CakeWallet, Ballet, Guarda, Exodus, Coinomi, Electrum without a full node). This distinction is important in the context of running sovereign free open source software: if you’re serious about using Litecoin, you should run only Litecoin Core on your computer and something else that points to it on your mobile. This argument alone narrows down your portability option to Litewallet and BitBoxApp — as only these two give you the option to connect your own full node. If you want to swap your LTC for Monero or buy gift cards for popular stores and services, Cake Wallet is also excellent (but is more of a complimentary tool which shouldn’t replace the mightier wallets that connect to your full node).

Secondly, if you’re going to store large amounts of LTC for a long time, then it’s definitely a good idea to get a hardware wallet or a cold storage device. What’s the difference, you say? Well, hardware wallets are a middle ground between the security of cold storage devices (Casascius Coins, BTCC Mint, Ballet, paper wallets) and the convenience of hot wallets (most famously, Electrum in SPV mode). Now that we established that hardware wallets are a useful hybrid, it’s time to recommend the best of them: Trezor (any model is fine), BitBox02, and KeyStone.

12/24 words) and BIP44 (which allows you to store multiple coins such as BTC and LTC under the same seed phrase). Today, both of these are industry standards… and it’s no wonder that most hardware wallets on the market are rebranded Trezor forks.

The main drawback is that only two of the three Trezors models available on the market in 2024 have a secure element chip to offer physical protection against private key extraction — but the team is reluctant to use closed-source chips that you can’t verify and which also require the company to sign NDAs to not publish potential bugs. The most popular device, which has been available on the market since 2014, has sold millions of units, and everyone probably already has one in a drawer, doesn’t have such a chip. Trezor’s philosophy since day one has been that of focusing on software development, and then optimizing it around the existing

Trezor is uncompromisingly open source and has a record of offering support for their devices since 2014. The team behind Trezor created BIP39 (which allows you to convert the non-readable private key to a more friendly string of 12/24 words) and BIP44 (which allows you to store multiple coins such as BTC and LTC under the same seed phrase). Today, both of these are industry standards… and it’s no wonder that most hardware wallets on the market are rebranded Trezor forks.

The main drawback is that only two of the three Trezors models available on the market in 2024 have a secure element chip to offer physical protection against private key extraction — but the team is reluctant to use closed-source chips that you can’t verify and which also require the company to sign NDAs to not publish potential bugs. The most popular device, which has been available on the market since 2014, has sold millions of units, and everyone probably already has one in a drawer, doesn’t have such a chip. Trezor’s philosophy since day one has been that of focusing on software development, and then optimizing it around the existing hardware. So there’s an ongoing process of improving the product through security patches that result from user feedback if someone is able to find a vulnerability, there’s a bounty that can be collected in exchange for disclosing the issue.

A research division from Trezor is also working on the Tropic Square project, which is expected to release the world’s first open source secure element chip sometime in 2025. Until then, the suggested solution to gain physical security is to create a passphrase for your wallet (which is generally great, unless you lose it or forget it). If you want to buy a Trezor hardware wallet and support the BTCTKVR magazine project, you can use the affiliate links in the table at the end of this article.

On the other hand, the BitBox02 is a different beast: built from the ground-up by the technical ambitions of Bitcoin Core developer Jonas Schnelli, this Swiss-made machine was designed with desktop and mobile connectivity in mind. This is why it comes with a USB-C male connector that you can insert in your computer or in your Android phone. For physical security, the BitBox02 features the ATEC608B chip — a general-purpose security chip that you can also find in BTC-only wallets such as Coldcard and Foundation Devices Passport. However, the guys who built the BitBox are fully aware of the tradeoffs involved and have programmed the firmware to isolate the chip and only use it for its most basic purpose. The BitBoxApp user interface also enables you to connect your own full node (Litecoin Core with Electrum server indexing), so you don’t have to trust in the company’s servers. Interestingly, this feature also works on Android wallets — thus making the BitBox02 the second best mobile wallet for Litecoin, with better security but fewer features (most notably, no MWEB support).

Just like in the case of Trezor’s Suite, the BitBox02 companion app also offers the option to connect to their server via Tor — this network-level obfuscation will make the company unable to know where you’re based while using the device. It’s a neat workaround for the people who want some privacy, but are unable to connect their own full node.

Something unique about this Swiss-made hardware wallet is the “anti-klepto” system, which verifies the integrity of the firmware to prevent nonce covert channel attacks. And if you’re too lazy to write down your 12/24 words on a piece of paper (which you shouldn’t be), you get the option to do a quick backup & recovery through a micro SD card that comes included in the box. It’s definitely convenient, but keep in mind that SD cards aren’t optimized for long term data storage — if you don’t connect them to your computer regularly to check the integrity of the data, they can become corrupted due to physical or environmental reasons.

The BitBox02 is tiny, well-built, features touch sensors for input, and is made in Switzerland. If you’re going to buy a one, you can also support the BTCTKVR magazine project by using promo code BTCTKVR at checkout — you should get a 5% discount too!

Last but not least, the KeyStone is the Chinese underdog which delivers lots of features at a pretty good price. On the open source spectrum, it’s not as transparent as the Trezor and BitBox hardware — a criterion that matters in the context of minimizing trust in the manufacturer. But on the feature and user experience spectrum, it’s the most generous: it comes with a camera to scan QR codes, it includes a sufficiently-large 4-inch touch screen, and it’s marketed as being completely airgapped (you can use the device without ever connecting it to the internet and without plugging it into a computer that’s connected to the internet). In regards to the airgap, though: you do need to be connected to the internet to check the latest state of your coin balance and to broadcast transactions to network nodes. So the way in which the airgapped mode works is that you sign transactions from your KeyStone, and then copy the resulting file to an external media storage device (SD card) that you finally plug to your computer for the broadcasting part (an operation that’s possible with PSBT-compatible wallets such as Electrum). Of course, this is optional — you can still use the device with a USB connection to your computer. What’s interesting about the KeyStone is that it includes a fingerprint scanner and a user experience which very much resembles that of a smartphone — so the learning curve is very smooth.

Other features include entropy via dice rolls (do at least 100 if you want to get better randomness than the electronic Random Number Generator), the simultaneous storage of 3 seed phrases, a rechargeable battery, and easy access to advanced functions such as multisig and Shamir Backup (SLIP39, also available in Trezor Safe 3 & 5). It also comes with 3 different security chips to encrypt the user’s fingerprint and seed phrases. But all of these benefits come at the expense of a lower degree of auditability and open sourceness: if the Trezor is simple, the subject of hundreds of clones, and much more battle-tested, then the KeyStone is very complex and much more difficult to verify due to the presence of the closed-sourced security chips. If you want to buy a KeyStone for your Litecoin holdings, type this link and support the BTCTKVR Magazine project: https://bit.ly/3x1ngHA

Interestingly, none of the hardware wallets on the market support Litecoin’s MWEB… at least, not yet. But after Litewallet makes it possible to run the extra features on a lightweight client, it’s only a matter of time until these companies pick up the free open source code and integrate it. If there is enough community demand, the companies will definitely start supporting MWEB for Litecoin.

As you might notice, some big names like Ledger and KeepKey are missing. The reason is simple: the former has made some questionable decisions in terms of enabling their users to self-custody, while the latter is no longer being maintained. Interestingly, Litecoin contributor Hector Chu did create a way to use MWEB addresses on a Ledger Nano S, through a custom firmware which leverages the power of Electrum wallet. However, the user experience is not necessarily optimal and it’s probably better to wait for an official integration — there are even rumors that Trezor would collaborate with any dev who wants to bring MWEB to their Suite app. And if Trezor does it, then it’s easy for other manufacturers to copy the feature. Even if it’s popular and lots of people already own Ledger devices, it’s hard for me to recommend them.

There are also dozens of other devices that make dubious claims or offer nothing interesting for Litecoin users. Many of them are not really open source and require a higher degree of trust. Devices such as CoolWallet, Tangem, SecuX, Keevo, SafePal, and ElliPal cost pretty much the same as the solutions recommended in this article, but offer fewer options for Litecoin users. Overpriced hardware wallets such as nGrave make big claims, but don’t offer all the software options that you can find in the KeyStone. Remember: a hardware device without proper software to back it up is just a fancy piece of plastic and/or metal. And once again, Trezor is the only one that’s been battle-tested and refined for longer than a decade, while BitBox02 is the only one that lets you connect your full Litecoin node and is fully optimized for both computers and Android phones. If you want to scan QR codes and generate your own entropy via dice rolls, you can only do that on the KeyStone. There are no ideal models, only tradeoffs.

There’s also something to be said about cold storage devices which support Litecoin and are available on the market in 2024. Ballet is definitely known within the community, as the project was created by Charlie Lee’s brother — and the company behind the wallet regularly sponsors the annual Litecoin Summit. Inspired by Casascius and BTCC Mint, these metal cards have a premium feel and benefit from the extra convenience of a mobile app. Ballet appeals to two different audiences: non-technical people who don’t mind reusing the same address to store their coins for the long term, as well as collectors who enjoy buying pre-loaded editions (such as 2023’s Litecoin Block cards, which include 6.25 LTC on a 50-gram fine silver card).

Bobby Lee takes pride in the simplicity of his solution and, as he revealed in S5 E1 of the Bitcoin Takeover Podcast, he even gifted some loaded Ballet cards to Bruce Willis and his daughters. But the main issue with Ballet is the implied trust in the manufacturer: since the Pro series was discontinued, users can no longer generate their own BIP38 private keys. So Ballet undergoes this rigorous process of printing the private keys on the cards in different parts of the world, with the CEO of the company vouching with his reputation that there will never be any theft of funds. For some people, this is good enough — but others might want more advanced solutions which mitigate the trusted setup and don’t make it obvious how many coins every user owns (Ballet even publishes on their home page the total valuation of their users’ coins, which some privacy-minded people may not like).

market in 2024. Ballet is definitely known within the community, as the project was created by Charlie Lee’s brother — and the company behind the wallet regularly sponsors the annual Litecoin Summit. Inspired by Casascius and BTCC Mint, these metal cards have a premium feel and benefit from the extra convenience of a mobile app. Ballet appeals to two different audiences: non-technical people who don’t mind reusing the same address to store their coins for the long term, as well as collectors who enjoy buying pre-loaded editions (such as 2023’s Litecoin Block cards, which include 6.25 LTC on a 50-gram fine silver card).

Bobby Lee takes pride in the simplicity of his solution and, as he revealed in S5 E1 of the Bitcoin Takeover Podcast, he even gifted some loaded Ballet cards to Bruce Willis and his daughters. But the main issue with Ballet is the implied trust in the manufacturer: since the Pro series was discontinued, users can no longer generate their own BIP38 private keys. So Ballet undergoes this rigorous process of printing the private keys on the cards in different parts of the world, with the CEO of the company vouching with his reputation that there will never be any theft of funds. For some people, this is good enough — but others might want more advanced solutions which mitigate the trusted setup and don’t make it obvious how many coins every user owns (Ballet even publishes

For more advanced users who don’t like the idea of a trusted setup and want to enjoy the benefit of a cold storage card with some extra features (NFC tapping, card reader that works with your computer, compatibility with Electrum wallet), there’s Satochip. Powered by Java cards, these devices cost approximately $25 and work either with the companion app or with Electrum Litecoin via USB card reader.

Satochip also produces two other types of cards: the Satodime, which is designed to act like a bearer asset (basically a paper wallet with a sealing mechanism that needs to be tampered in order to withdraw the coins), and Seedkeeper (a storage solution for your passwords, private keys, and seed phrases). Everything about these Java cards and their software is open source and auditable — with the exception of the EAL6 certified chip, which operates like a black box for the input data. To learn more about Satochip, listen to S15 E20 of the Bitcoin Takeover podcast — where creators Bastien and Baudoin explain how the device works and also perform a live demo. And if you made up your mind about giving Satochip a try, use promo code BTCTKVR at checkout for a 5% discount.

Last but not least, you have the custodial exchange wallets. All I’m going to say about them is: stay away and only use for small amounts if you’re trading! It might seem convenient to custody your coins with a business that has a good reputation in the field, but the risks outweigh any benefit. Today, the user experience for freedom wallets is really easy, as storing 12/24 words on a piece of paper (or on a metal backup such as Cryptosteel) has been greatly simplified. There’s an entire industry that makes self-custody accessible for everyone and it feels much better to watch the collapse of the next FTX from the sidelines, knowing that your coins are not affected. It’s also a matter of freedom: while some exchanges and custodians might limit your withdrawals or restrict to whom you can send transactions, your own wallet lets you send money to anyone around the world without asking for permission. As Satoshi (and his disciple SatoshiLite) intended!

So no matter which wallet you choose, make sure it’s the one that suits your needs: if you need privacy and want to verify your own transactions, make compromises and go for the full node. If you spend the coins frequently, then mobile wallets such as Litewallet and BitBox02 are excellent. If you want to HODL for the long term, consider a hardware wallet like Trezor, BitBox02, or KeyStone… or else choose a cold storage device such as Ballet or Satochip. And if you’re a trader, make sure you withdraw from exchanges frequently — don’t use these exchanges as banks!

‍

‍

‍

‍