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Understand the Litentry wallet
Litentry (LIT) is a digital currency. It is not like your fiat currency. It's one type of currency in the form of digital code. Let's understand in brief, you can store your fiat currency in a hard wallet, but how can you store your digital currency when the point comes to security? Here, the Litentry wallet came into existence.
A Litentry wallet is one type of application or software program, or you can say it's a digital application where you can store/hold your Litentry without any hesitation because it's very safe. Technically, it's like a bank. Once you credited your currency to the bank. Your bank application shows the number that you have credited to the bank. Same in the Litentry wallet, you will see the exact amount you have invested and a quantity according to your money.
Now the question is, what else comes in the wallet? The wallet comes with a security key (private key) called a wallet address to accept and send the Litentry.
Let's understand how wallets work.
- How can you receive Litentry?
- Start google and type Litentry.com wallet app and choose to receive options.
- Select in which wallet you want to receive Litentry. Keep in mind selecting a BCH wallet option if you are receiving Litentry cash. Else select LIT wallet while you want to receive Litentrys.
- Now, the wallet generates an address. At that address, you can receive coins. Copy that address and provide it to cryptocurrency exchange or any person who is sending you Litentrys.
How can you send Litentry?
- Open the Litentry.com wallet app and select the Send option.
- The first way is to scan the QR code with your phone app or copy the receiver address into your mobile app.
- Choose the right wallet, select BCH while sending Litentry Cash or select LIT while you want to send Litentrys.
- Enter the correct value before sending. And before it, check all the details carefully because any small mistake will put you in trouble.
There is not any wallets exist to store Litentry coins