Litecoin is a P2P decentralized cryptocurrency and an open-source software project released on October 7, 2011 by Charlie Lee. It was a fork of Bitcoin Core client hence an identical spinoff of Bitcoin with only a few differences, like the block generation time which is 2.5 minutes for Litecoin while for Bitcoin it is 10 minutes. It also has a different hashing algorithm than Bitcoin which is SHA-256 for Bitcoin and Scrypt for Litecoin.
Litecoin is one of the oldest and most famous cryptocurrencies of all time, and when something is famous, everyone loves to have them. So, we are going to discuss 5 ways of getting Litecoin in this article.
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1. Get Litecoin through mining
Mining is a process in which an individual uses computational power to mine a block that contains transactions. The transactions inside the block are verified and added to the blockchain once a block is mined, and the one doing it successfully before someone else gets rewarded for that. It becomes more difficult to mine a block with the increment in the number of miners on the network since they all will compete to mine a single block and only one out of them will get to mine it.
If we talk about mining Litecoin, it is not really as difficult to mine it as Bitcoin since Bitcoin has a larger number of miners, but it is not easy as well because Litecoin has got some competition too. You are most likely to get a portion of the rewards if you use a strong equipment or you might even mine a complete block in Litecoin mining.
You can mine Litecoin with: GPU, Mining equipment, or sometimes maybe even with a CPU but the earnings might not be enough for the electricity you will need to pay for if you mine with a CPU.
Below is a complete tutorial on how to mine Litecoin:
How to Mine Litecoin - A Guide on Litecoin Mining and Other Altcoins
2. Earn Litecoin with Trading
Trading is the process of buying and selling coins in order to earn profits out of the sales. A user buys a currency in a lower price and sells it back when the price is higher and get profit out of it. Trading requires skills and market experience, and it might be risky for someone who doesn't know anything about it. Though users earn thousands of dollars out of it, some of them lose the equivalent in a single day as well. A user should only invest what he can afford to lose in trading if he doesn't have the required skills and the experience to understand the markets movements.
Cryptocurrencies are mostly very much volatile by nature, though Litecoin seems to be a bit more stable than the others. Someone can easily earn some bucks out of it if they read the market for a few days, or a few months. But, as I said earlier, it has its risks, so someone should better start with a smaller capital to test themselves before they get in with all of it and lose it at once.
Below are some links of exchanges that allow trading Litecoin with different currency pairs:
3. Earn Litecoin through PTC sites
PTC (Paid To Click) sites are websites where you are paid for clicking and watching advertisements of users or companies that have posted them on the site. Such sites mostly offer membership tiers which allows the users to earn more if they buy one of the tiers offered by them. PTC sites have been around for many years now since advertisers use such platforms to promote their projects and products and beginners use them to start their online earning journeys. Though they don't pay much, but they are a good start for beginners since they are not experienced enough to earn money through other methods out there.
You can find a bunch of PTC sites if you search in Google. I'm giving you a site where you get paid for watching ads and you can cash out your earnings in your Litecoin wallet as LTC.
Below is the site:
4. Earn Litecoin through Faucets
Faucets are websites that pay very small rewards to users for completing minor tasks like filling captchas or other similar activities. Every Faucet has its own time limit which lets the user claim the reward again once it runs out. Faucets basically are ways for their owners to earn revenue through the endorsements they put on their website while the claimers are rewarded for visiting the sites. Just like PTC sites, Faucets as well pay very small amounts to its users since they don't earn much themselves, but they are also a good experience for beginners starting their journey in cryptocurrencies.
You can find a bunch of Litecoin Faucets on Google with a simple search. I'm listing a few of them for you guys down below:
5. Earn Litecoin by selling your Services
Freelancing had always been a very popular way of earning money through internet. The process is pretty simple where an employer hire someone to do his work and the person who meets his skill sets criteria will be his employee and get paid once he completes the task. If someone has some skills which he can bring to practice then he is most likely to get hired by someone on internet to do a task and hence he earns money by sitting at home. Freelance industry now a days is extremely large and the competition between Freelancers is so very high. So only a person who acquires the skills required by the marketplace will get a place in it.
Earning Litecoin through freelancing is not a tough task if you have what it takes. People earn Bitcoin and many other cryptocurrencies or even currencies by offering their services to the community. If you have some skills to show, you can always demand to get paid in Litecoin in return for your work that you have done. Though there are many Freelance platforms out there, I personally recommend Bitcointalk Forum since it has a very large audience of Crypto Enthusiasts and a person will the right skills is most likely to get a job in there.
Below is the link to the Bitcointalk Forum: