Header banner
Revain logoHome Page
Danh Huỳnh Ngọc Công photo
Vietnam
1 Level
167 Review
416.5 Karma

Review on Electrum LTC Wallet by Danh Huỳnh Ngọc Công

Revainrating 4 out of 5

Electrum LTC Wallet - The league of safe wallets

Electrum LTC wallet is a good wallet for transferring and storing Litecoin. Time has proven that the wallet is safe from the external attacks and that it is one of the best wallet users can find. There is no worry when using the wallet and reasons to trust it are long on the list. If the interface can be improved in the future, more and more people will use it




Pros
  • - Electrum LTC wallet is a lightweight PC that can be downloaded from the Internet within a few minutes. The installation process takes quite the same amount of time and the app can be used almost instantly
  • - Users can start using the wallet in man way. They can create a standard wallet, then choose between normal set up or advance set up. Also, they can create a multi-sign wallet for their organization whose assets can only be transferred when there is a consensus between the co-owners. Finally, they can generate a watch-only address or access an address with a private key
  • - The interface is not colorful but it is quite efficient with a familiar layout just like traditional desktop apps
  • - It is extremely easy to transfer Litecoin using the wallet, all the basic tasks such as sending, receiving, managing contacts and assets are so simple and quick. Transaction history can be accessed easily on the dashboard. For sending function, users can type in the address, upload the file, or scan the QR code using the PC webcam. Transaction fees can be adjusted as much as the desire of the owners. It is possible for users to add the description to the transaction. Receiving function delivers a basic experience as other wallets but Electrum can also set expiration timer for the transaction
  • - The wallet provides many tools so the users can customize the wallet very conveniently. Especially, there are very useful tools in the Preference tab that can help the non-tech users to make the best out of the wallet. In Network tab, users can do some changes on the Setting to enhance the privacy of transactions
  • - The wallet has been around since 2011 and the number of its active users is huge. The wallet will be existing for a long time with the great support from the community
  • - This is an open-sourced wallet so its source-code is publicized on GitHub. We can rest assured that the wallet is safe, transparent, and open for further developments
Cons
  • - The interface is what give it some minus points. It is too technical and is not for everyone. I assume the wallet will be used the most by the developers
  • - There is no mobile phone version for it as the wallet is only available on desktop
  • - There are a lot of other wallet types that each of them has some competitive benefits. For example, hardware wallet can store very many cryptocurrencies and this is the safest type of wallet.