A multitude of online wallets, including the likes of Coinbase, Exodus, and Jaxx, support Litecoin. One may opt for any of these, adhering to the on-site instructions. Alternatively, wallets can be set up on desktop or mobile platforms by downloading the requisite software. Initially, one must procure the Litecoin wallet software available on its official site. Upon installation, abide by the directions to instantiate a new wallet, generate an address, and fortify security measures. It's crucial to securely store the private key to access and manage one's assets.