Yesterday, i got my first cryto currency wallet. It was easier than i thought. A friend referred me at Electrum Litecoin and it took about 3 minutes for me to install/get my secure wallet. You can download either for Linux, Windows or Mac.
“Electrum-LTC is a simple, but powerful Litecoin wallet. A twelve-word security passphrase (or “seed”) leaves intruders stranded and your peace of mind intact. Keep it on paper, or in your head… and never worry about losing your litecoins to theft or hardware failure. No waiting, no lengthy blockchain downloads and no syncing to the network.”
This is a screen capture of the application. (May differ depending on the OS, i’m on Linux)
As you can see, a friend of mine just sent me 7.9 litecoins. Waiting for the transaction to complete (usually very fast). You can see a green check mark on the left when the transaction is completed.
When sending litecoins, there is a very small transaction fee of 0.001 LTC. You have a “receive code” that you can find under the “receive” tab. You can choose for how long that code will be good for.
The next step is to open an account on an exchange. The one i use is “Bitfinex“. To check the value of your litecoins, you can go to bitcoinwisdom.com . After your Bitfinex account is open, you can trade for Bitcoins, buy or sell. You can even transfer your profits directly in your paypal account, your bank account or your credit card!