Litecoin is an open-source, peer-to-peer cryptocurrency. It is decentralized by nature and is based on the Bitcoin algorithm. It processes a block in every 2.5 minutes, and ensures faster transfer of funds and instant confirmations. Scrypt is used as the Proof-of-Work algorithm which makes it far more valuable than any other cryptocurrency in the market.
You can earn Litecoin by various means, one of the most popular way is Litecoin Mining. A user who has invested in Litecoin should definitely try mining so that he or she can earn some extra rewards. It is the process by which the user solves a mathematical puzzle (algorithm) that is generated at the time of the transaction. This puzzle is basically a verification code which is to be solved, so that the transaction can take place successfully and the miner can earn some rewards. The miners are rewarded with a certain part (around 25 coins) of the block (each block consists of 99 coins) which is then added to their blockchain. By this way you earn more Litecoin.
The second and the easiest way to earn Litecoin is through free websites. There are various online websites which give out rewards for filling out their surveys online. The rewards are then collected and added to the miner’s blockchain.
You can even earn by transferring funds from your account to other account. This means that every time a new algorithm will be generated which will be verified by the other miners.
Many times people donate you Litecoin out of respect, need, regard, love, so on and so forth. This is one of the easiest ways to earn cryptocurrency online.
One can also earn cryptocurrency by faucets. It is the process of dispensing rewards at various intervals. There are various online websites that pay you to solve their tasks in a given time, and they play an important role in popularizing the altcoins. This process of making money is full of entertainment and fun where you may have to fill a Captcha, click the boxes, choose the correct a word and sometimes answer MCQ questions (these questions vary from item to item, it can be on food, cars, places, etc.).
There are various online games that provide you with Litecoin. Every time you play games, it gets difficult to get on the next level. This is the most entertaining process to earn Litecoin online and people love to do these kind of things during their free time.
So these are the various ways in which you can earn Litecoin online. However, when compared to Bitcoin, Litecoin has very less to offer.
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