How can I earn Litecoin?

What if I told you there are ways you could earn some free Litecoin? It might not be as valuable as Bitcoin (in terms of total market capitalization and brand equity), but it works very similarly to BTC.

Litecoin is a peer-to-peer cryptocurrency created based on the Bitcoin protocol. It is currently ranked 7th on CoinMarketCap with a market capitalization of over $2.5 billion, which makes it one of the most valued cryptocurrencies in circulation.

Earning free Litecoin works similarly to earning free Bitcoin. There are several online platforms that give users free Litecoins for performing small tasks or playing online games. To exchange Bitcoin, click: bitcoin to visa

Let's explore some of the most popular ways to get free Litecoin.

1. Earn free Litecoin through reputable faucets

The easiest and most popular way to earn free Litecoin is through a Litecoin faucet. A faucet is a website or an application that gives users free crypto coins for completing simple tasks. These tasks are usually easy tasks like completing some captchas, viewing adverts, or playing simple games.

After completing the microtasks, the faucet will reward you with a small amount of Litecoin (Lithoshi). Litoshi is the smallest unit of Litecoin and 1 Lithoshi is equivalent to 0.000000001 Litecoin.

There are various Litecoin faucets out there, many of them being scam faucets. Before you choose a faucet platform, make sure it's legit. Here, we will highlight a few of the most popular and reputable ones.

It is safe to mention that you should only register on faucets that integrate micro-wallets like Coinpot. Micro-wallets allow you to collect and combine faucet payments easily.

Here are 3 of the most popular faucet sites for Litecoin:

MoonLitecoin

MoonLitecoin faucet allows its users to earn free Litecoin for solving captchas. You can receive up to 1,000 Litoshi every five minutes. MoonLitecoin is currently the most reputable Litecoin faucet. It is ranked as the 9th cryptocurrency faucet on foxyrating.

Registration on MoonLitecoin is pretty straightforward, and the interface is easy to navigate. The only details required to create a MoonLitecoin account is your CoinPot micro-wallet. All Litecoins earned from MoonLitecoin is deposited directly into your CoinPot micro-wallet.

ClaimLTC

ClaimLTC is a multicurrency faucet that gives you free Litecoin for solving captchas. You can earn up to 2071 Litoshi every five minutes, which makes it more profitable than MoonLitecoin. Your earnings from this faucet are deposited to your Faucethub micro-wallet.

Litecoin Faucet

Just like the previously mentioned faucet, Litecoin Faucet also allows users to earn free Litecoin by solving captchas. You can earn as much as 2,500,000 Litoshis every hour with no daily limitation on the platform.

The unique feature of Litecoin Faucet is that there is no withdrawal limit. Therefore, you can withdraw any amount of Litecoin.

Faucets are sure ways of earning free Litecoin, but you have to be very careful not to fall victim to scams. Before registering on any faucet, look out for the following:

• Online reviews to know if it is legit or scam.
• Coinpot or Faucethub micro - wallet integration for easy withdrawal.
• Deposit before withdrawal feature - This is a typical feature of scam faucets. Faucets are supposed to be free ways to earn Litecoin without any down payment.
• Earnings per hour - earnings from faucets are usually small. If a faucet promises an incredible amount of Litecoin, it is probably a scam or total waste of time.

Litecoins' earnings from faucets are usually really small. If your earning expectations are high, this might not be the best option for you. There are more lucrative and legit ways to earn free Litecoin. Read on to learn about the other ways to get free Litecoin.

2. Litecoin cloud mining

Litecoin mining is one of the oldest ways to get free Litecoin. In recent times, earning profits from Litecoin mining can be a major hassle simply because of the cost of setting up the mining device, the cost of electricity, and many other factors.

With the introduction of cloud mining, you can earn free Litecoin without the headaches involved in setting up mining kits. You can find lots of free Litecoin cloud mining contracts online.

All you need to do is download the software on your device to start earning. This software work by using your device's memory to generate the Litecoin. Which means the more powerful your device, the more free Litecoin you can earn.

However, some of these free Litecoin software contains malicious scripts that can compromise your security by stealing your data. You should only download mining software with great online reviews.

3. Litecoin lending

Litecoin lending is one of the most lucrative ways to obtain free Litecoin. You can make money by purchasing some Litecoin and lending others on lending platforms.

Lending platforms like Coinloan allow you to make as much as 10.5% ROI by lending your LTC. It means if you lend 100 LTC, you earn free 10.5 LTC within a year without doing anything.

By lending your Litecoin, you are making your money work for you. All you need is a trusted and secure lending platform to start earning free Litecoin with this method.

4. Wager your Litecoin

Another way to get free Litecoin is by wagering your Litecoin. Gambling is not the best way to earn free Litecoin because 70% of gamblers tend to lose more than what they earn.

No doubt that some people have actually managed to become rich through gambling, this, however, is very rare. So if you are a big risk-taker or you really love gambling, Litecoin gambling is one way to earn free Litecoin.

Crypto gambling websites like fortunejack, bitstarz, and kingbillycasino allow you to wager your Litecoin on various casino games. Crypto gambling is probably the riskiest way to earn free Litecoin, and it is not for the faint-hearted.

If you choose to go with this option, we strongly advise you to only wager the Litecoin you can afford to lose. Nonetheless, it is safe to say that there are safer and less risky ways to invest your Litecoin.

Now that you have discovered some ways to get free Litecoin, you should understand that it would take a lot of time, perhaps years, to accumulate a reasonable amount of Litecoin. It is quite easier to accumulate Litecoin in the long term by HODLing, Investing, and trading Litecoin.