![]() What should I do with my old Litecoin addresses and wallet when switching to Electrum-LTC? You cannot send litecoins if you don't have enough funds in non-frozen addresses. When you freeze an address, the funds in that address will not be used for sending litecoins. What does it mean to "freeze" an address? This is set to 5 by default, so the client generates new addresses until 5 unused addresses are found. Electrum-LTC uses a gap limit to stop looking for addresses. The gap limit is the maximum number of consecutive unused addresses in your deterministic sequence of addresses. You do not need to perform regular backups, because your wallet can be recovered from the seed that you can memorize or write on paper. The seed can be represented as a 12-word mnemonic code. However, this is not needed for normal operation, even now that the Segwit soft fork has activated.Įlectrum-LTC uses a 128-bit random seed to generate your private keys. Support for native Segwit transactions is in the works. If you are looking for a mobile wallet, check out LoafWallet, Jaxx or Coinomi. Now wait some minutes until the Poloniex Withdrawal History shows your transfer.Ĭheck in your Electrum wallet if the funds have arrived.Is there a version of Electrum-LTC for Android?Īndroid is not currently supported. ![]() If you click the link inside the Mail, the following webpage will be opened in your browser and the withdraw will be started. If you have 2FA enabled for your poloniex account, you first need to authorize the withdraw by entering your 2FA code. In case of errors you will loose your coins.įinally click the Withdraw button, if all inputs are correct. Please double check the correctness of your inputs. If you want to transfer all Litecoin you can simply click the number of Litecoin on the left side behind "You have. Important is also the Amount field, where you need to enter the number of Litecoin you want to transfer. File into the "Address" inputbox your Litecoin address (from the Electrum wallet). Search for LTC (the shortcut for Litecoin) and click the "Withdraw" link on the right side of the page. I recommend to click the "Hide 0 Balances" checkbox, to see all your assets. Now, log into your poloniex account and click "BALANCES" in the menu bar and than "DEPOSITS & WITHDRAWALS". We need the address later to start the withdraw. At the top you see the address of the Litecoin wallet, on the right side is a "copy to clipboard" icon. ![]() This can take some time.Īctivate the "Receive" tab. File the seed into the textfield and press "Next".Įlectrum is now generating your Litecoin addresses out of the seed. In the next dialog you need to enter the seed, to check if you have written down the correct seed. Do not waste your time with trying it out. Note: The seed here is not the seed I use for storage of my Litecoin. Also be sure that there is no keylogger or virus running on your PC! If you have saved the seed, click the "Next" button. Write this seed down to paper and store it in a safe location, best practice is to store copies of the seed on different locations! If you loose the seed, you will loose the access to your Litecoin. The wallet software generates a new seed and shows it in this dialog. In this tutorial we generate a new standard wallet. Open in your browser and download the installer for your computer's operation system. In this tutorial I use the Electrum wallet. Instead I always try to use online wallets or light clients like Electrum when possible. I don't like the fat native wallets that require to download the full blockchain of an cryptocurrency. In the next days I will continue this tutorial series, because there are still a lot of funds on Poloniex I need to draw out into my own wallets. The screenshots are taken from the FLIPPER portfolio, which is traded on Poloniex exchange. I strongly recommend to withdraw all funds invested in the PermaCryptoFolio experiment from Cryptocurrency exchanges to avoid loss in case of a hack of the exchange. In this tutorial I want to show how easy it is to withdraw LTC (Litecoin) from POLONIEX exchange to an light wallet like Electrum.
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