Electrum Litecoin wallet review
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- Overview
- Security
- User Experience
Electrum-LTC is another wallet in the Electrum family this one specific to Litecoin. It is open source and requires some sophistication to set up. It used mostly by developers. It can also be integrated with a hardware wallet for a higher level of security.
Like most Electrum wallets this LTC wallet is designed for long term storage of Litecoin. It's primary focus is on security and simplicity there is really no additional features.
Company / organization behind the wallets
Electrum Litecoin wallet is based on the original Bitcoin Electrum wallet created by Thomas Voegtlin in November 2011. Like its predecessor, the open-source wallet is available on GitHub and anyone can review or upgrade the code. Issues are also solved through this platform.
Electrum LTC Wallet had a security incident in July 2017 when an attacker exploited a vulnerability in the virtualization software. The Electrum LTC team promptly reacted and restored the original files. The website was carefully moved to a new secure host and since then the platform gained a lot of trust.
Electrum LTC Wallet allows users to integrate their hardware wallets. This is a feature available for more technical consumers. They don't have customer service and all the information needed is hard to find so regular users may find it a little bit complicated.
Summary:
Electrum Litecoin is desktop wallet based on the original Bitcoin Electrum wallet. It's a community based project for specialists who are both the developers and the customers. It can readily be integrated with hardware wallets. The user has a total control over his funds and transactions are fast and easy.