How to Use LiteVault 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 “Litecoin Wallet- Litevault”.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.info – 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.Easy to use, convenient with the fast signup process It is an entirely open source platform Doesn’t store other cryptocurrencies
The team alerts about a vulnerability existing in “Tor browser”.They suggest accessing only via “Tor Hidden Service”.The 2 Factor Authentication is in beta and only available if an email address is given.The Company behind LiteVault Wallet
LiteVault Wallet is an open-source project.The anonymous UK-based developer- “Someguy123” handles it and has developed many projects like Litecoin Block Explorer.Currently, he is creating code for Litecoin 2.0 exchange and a fresh project named “Coinbet”.
LiteVault was made by Someguy123 :
“I Am A Trusted Website Developer Within The Litecoin Community Responsible For Various Services Including The Litecoin Block Explorer , And Administrating Various Official Litecoin Resources Such As The Wiki And IRC.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.LiteVault Fees
For crypto wallet 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%.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 long address.(Minimizes risk to enter wrong address) Private keys are masked behind the “View Private Key” button on the digital wallet’s page Message signing via address proves that you are the owner How to Use LiteVault Wallet?
LiteVault wallet is really simple and easy to use.Let’s begin with the procedure.
Register an account with LiteVault by signing up Enter the details: full name, email-id and other details Verify the account and again login
After you create the new wallet, it is sent to the company’s server encrypted with your passphrase.
You can also enable the two-factor authentication for extra security.
Make sure you back up your passphrase.
If you want to keep yourself anonymous use the Tor hidden service.Partners and Integrated Software- LiteVault Review Changelly.
