Review on Electrum LTC Wallet by Fanuel PORPORTY
Electrum Litecoin Wallet
Electrum Litecoin wallet is an open source, desktop-based wallet that was designed specifically for Litecoin (LTC). The code for Electrum was released in 2011 and though it was initially a Bitcoin-only wallet, developers have created other versions.
Electrum Litecoin wallet is a lightweight Litecoin client and does not require a download of the entire chain.
According to its website, it is a community-maintained port of the Bitcoin wallet, Electrum, to Litecoin. Its design is simple yet feature-filed, making it appropriate for all levels of users, beginners and more advanced.
Pros
- Lightweight client does not require full LTC blockchain download
- Suitable for both beginners and experienced users
- Does not store users’ private keys
- You can access funds on another wallet by exporting private keys
- Open source wallet
Cons
- Lengthy setup procedure
- Unregulated
- As a desktop wallet, it is not conveniently accessible for use on the go
- It does not support trading or exchange services
- Not hierarchical deterministic
