Litecoin Wallet Guide: ltc1 Addresses, LTC Fees and Swaps

Litecoin address types: ltc1, L, M and MWEB

Keylo derives a native SegWit Litecoin address on m/84'/2'/0'/0/0, the path most modern Litecoin wallets use. It starts with ltc1q, uses lowercase letters and digits only, and includes a checksum that catches typing mistakes. SegWit inputs are smaller than legacy ones, so spending from an ltc1 address keeps your fees down.

Older formats are still around. Addresses starting with L are legacy pay-to-public-key-hash, and those starting with M are script addresses, often used by exchanges. Some very old services still show script addresses beginning with 3, a format Litecoin later replaced with M to avoid confusion with Bitcoin. If an address looks unusual, ask the recipient to confirm it is a current Litecoin mainnet address.

Litecoin also has MWEB (MimbleWimble Extension Blocks), an optional privacy layer with its own addresses starting with ltcmweb1. Keylo works with regular ltc1 addresses and does not create MWEB transactions, so if someone gives you an ltcmweb1 address, ask them for a regular Litecoin address instead.

How to create a Litecoin wallet with Keylo

The same phrase also gives you addresses on every other chain Keylo supports, so treat it as the master key to all of them. If you are moving from another Litecoin wallet, you can import its 12- or 24-word phrase. Wallets that use the BIP84 Litecoin path will show the same ltc1 address; wallets that used legacy L addresses or many rotating addresses may show a different balance.

1. 1

   Open Keylo's sign-up page in a browser on any device. Nothing needs to be installed.

2. 2

   Fill in your name, email, phone and password, then confirm your email address.

3. 3

   Your browser creates a 12-word recovery phrase and encrypts it with a key derived from your password. Keylo only receives the encrypted copy.

4. 4

   Find Litecoin in your asset list. Your ltc1 address appears with the network name next to it.

5. 5

   Back up the phrase: in Settings, re-enter your password, reveal the words and copy them onto paper kept offline.

How to receive LTC

If a person rather than an exchange is paying you, share the address through a channel you trust and ask for a small amount first. Exchange withdrawals are often batched, so the sending address you see on Litecoin Space may belong to the exchange's hot wallet rather than to the person who withdrew. That is normal and does not affect the funds that reach your ltc1 address.

1. 1

   Open Litecoin in Keylo and tap Receive.

2. 2

   Copy the ltc1 address or show its QR code.

3. 3

   Ask the sender to use the Litecoin network. On exchanges this is usually labelled LTC or Litecoin.

4. 4

   Check Activity. The deposit appears once broadcast and confirms in the next block, typically within a few minutes. Each entry links to Litecoin Space.

How to send LTC

Litecoin and Bitcoin addresses look alike in structure but are not interchangeable. An ltc1 address is only valid on Litecoin, and a bc1 address only on Bitcoin, so most mix-ups are caught by validation. The bigger risk is choosing the wrong network on an exchange, or pasting an address that malware has swapped. Compare the full address before confirming, since a confirmed payment cannot be pulled back.

1. 1

   Open Litecoin and tap Send.

2. 2

   Paste the recipient's Litecoin address or scan the QR code. Keylo validates it before you continue.

3. 3

   Type the amount, or tap Max to send everything minus the fee.

4. 4

   Pick slow, normal or fast. Litecoin's fee market is usually calm, so the difference is often small.

5. 5

   Review the summary with the exact amount and network fee, then confirm. The transaction is signed in your browser.

Litecoin fees and confirmation times

Litecoin fees work like Bitcoin's: you pay a rate per virtual byte of transaction size, measured in litoshis, the smallest unit of LTC (0.00000001 LTC). A plain payment that spends one ltc1 input and creates two outputs weighs roughly 141 vbytes. The amount you send does not change the fee; the number of inputs does, so a wallet that received many small deposits will pay a little more to spend them.

Because Litecoin blocks are frequent and rarely full, the slow option usually confirms within a block or two, and the fee for an everyday payment is a tiny fraction of an LTC. Exchanges commonly wait for a handful of confirmations before crediting a deposit, which on Litecoin usually adds up to minutes rather than an hour. Fees go to miners, and Keylo adds nothing on top of a normal send.

How to speed up a slow Litecoin payment

Litecoin supports Replace-By-Fee (RBF), and so does Keylo. If a payment sits unconfirmed because you chose a low rate during a rare busy spell, Keylo can broadcast a replacement that spends the same coins to the same recipient at a higher fee rate. Miners pick the better-paying version and the original drops out. You will rarely need it on Litecoin, but it is useful insurance when an exchange deposit seems stuck.

A replacement must pay more in total and per vbyte than the original, and it spends at least one of the same inputs, which is what makes the two versions mutually exclusive. After the first confirmation a transaction can no longer be replaced. That is why exchanges wait for confirmations before crediting LTC, and why you should treat an unconfirmed incoming payment as a promise rather than money.

Swap LTC for BTC, ETH and other coins

Keylo offers in-wallet swaps for Litecoin through THORChain, which trades native LTC directly against native coins on other chains, such as BTC, ETH or DOGE, without wrapped tokens or a central exchange. Before you confirm, you see the path THORChain will take, how much you should receive, the minimum you will accept and each fee involved, and afterwards you can follow the swap until the other coin arrives. Swap and bridge explains the routing in more detail.

A swap starts with an ordinary Litecoin transaction to THORChain, so it waits for LTC confirmations before the other side pays out. If the route cannot complete, THORChain refunds the LTC to your sending wallet, minus network fees. Any Keylo service fee appears as its own line in the quote. Litecoin has no bridge option in Keylo, only native swaps.

Try it first on Litecoin Testnet

Keylo includes Litecoin Testnet behind the Testnet mode switch in Settings. Test addresses start with tltc1 and use coins with no value, so you can practise receiving, sending and choosing fee speeds without risking real LTC. Testnet coins never turn into real Litecoin, so ignore anyone offering to buy or sell them, and switch Testnet mode off again when you are done to keep your asset list tidy.

Litecoin safety tips

• Keep your recovery phrase offline. It controls your LTC and every other address in the wallet, and Keylo cannot restore it for you.
• Use two-factor authentication and an anti-phishing code, both explained on Keylo security.
• Double-check the network when withdrawing from an exchange. Wrapped LTC on another chain will not arrive at an ltc1 address.
• Do not use an ltcmweb1 address with Keylo. Ask for a regular ltc1, L or M address instead.
• Be wary of strangers offering to double your LTC or recover lost coins for a fee. Real support never needs your phrase or password.
• Lock your session on shared devices and review the session list to log out anything you do not recognise.

Frequently asked questions