LiteVault: Unique Online Wallet.
A web wallet allows you to store funds safely and conveniently. The only issue: unlike offline wallets; online wallets can be hacked at any moment. Nonetheless, they are good storage for digital coins as well. To store Litecoin, the best digital wallet you can refer to is the u201cLitecoin Wallet- Litevaultu201d. Unlike other online wallets, your private keys are available on LiteVault servers. Your browser encrypts it before sending them to LiteVault. The software and design of LiteVault wallet are very simplistic. Its main aim is to store Litecoin via Changelly integration with some additional options. What is LiteVault Wallet? LiteVault is an online wallet service which uses in-browser cryptography. This same system is used by Blockchain.infou2013 a renowned Bitcoin wallet. It allows you to send/receive Litecoin via a web browser without downloading the blockchain. You can enable Two-factor authentication via email address. Pros of Web Wallets *You can send and receive payments within few minutes *Offers an additional security feature: 2FA and QR code scanning Cons of Web Wallets *More likely vulnerable to attacks such as DDOS, malware, phishing scams and insider hacking *They are not very reliable to store huge amount of cryptos. How Does The Online Wallet Works? When you log in to LiteVault, your browser forwards your identifier to the server. The server returns with an encrypted version of your wallet together with the AES algorithm. Your browser decrypts it using your password (never sent to the server) to load your private keys for signing transactions. The Crypto Wallet Special Features *In-browser Cryptography for safety purpose *Re-designing the interface to be cleaner and usable *Crypto wallet added color tags for the convenience of the users (Visually identify an address easily) *QR code scanning reduces the tedious process to type a long address. (Minimizes risk to enter wrong address) *Private keys are masked behind the u201cView Private Keyu201d button on the digital walletu2019s page *Message signing via address proves that you are the owner. Advantages of LiteVault: *Litecoin allows to store, send and receive Litecoin without downloading the blockchain *It is completely open-source *The wallet is encrypted before storing on the server. This provides double security to the wallet. *Users can enable two-factor authentication Disadvantages LiteVault: *The wallet does not support multi-signature fully, there are some issues *The wallet is only for Litecoin *No fiat currencies supported *Limited functionality. LiteVault Fees For crypto wallets there are no fees; however, Litecoin charges a small fee for the transactions. If you buy Litecoin from an exchange, they charge somewhere between 0.5-2%.
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