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Securing your Litecoin (“LTC”) wallet is a must. Since Litecoin is increasingly popular as a cryptocurrency, the value of Litecoin is increasing as well over time. So it’s a good thing you’ve come here to lear how to effectively protect and backup your Litecoin wallet. Let’s get started!

Securing Your Litecoin Wallet by Encryption

Your wallet can actually be secured pretty easily. Unless you make use of an online wallet that you trust to a third party, you use the Litecoin wallet from the official Litecoin.org website. The Litecoin wallet actually has a build-in functionality to encrypt your wallet and thus making your wallet more secure. Let me first show you how easy it is to perform this encryption. You open your Litecoin wallet, choose “Settings” from the menu and pick the first option “Encrypt Wallet…”.

The following screen that pops up asks you to enter your passphrase twice. Remember: You should make sure this password is not used for any other applications or websites. It is recommended to come up with a password that is as long as possible (say, at least 10 characters). By picking a strong password, you ensure that no person nor computer can guess your password and eventually steal your Litecoins.

Congratulations, you now have encrypted your LTC wallet and it should be a lot more secure. Let’s move on to the next step in safeguarding your precious coins: the backup.

Backup Your Litecoin Wallet

You know what happens when the hard drive of your computer crashes and the only copy of your wallet is on it? That’s right, you lose all of your coins indefinitely. If someone steals your coins, that’s no fun. But when you lose your coins because of ‘forgetting’ to take the necessary precautions, that just plain sucks. Follow these easy steps to backup your Litecoin wallet right now.