All ways and options for earning Litecoin
The Litecoin cryptocurrency (Litecoin, Lite, LTC) was created in 2011 as a fork of Bitcoin. A fork is a child project based on the parent code, in the figurative meaning it is a “branch”. The term litecoin itself is translated as “light coin” and, along with Bitcoin, which is considered to be “digital gold”, is recognized as “digital silver”. Accordingly, LTC held the second position in the ranking of cryptocurrencies after BTC for several years, but in 2014 its cost began to decline sharply. Nevertheless, if there is an opportunity to earn Litecoin, then you need to use it, since it firmly holds its position in the Top Coin Market Cap (the main crypto rating for many parameters). In addition, all experts recommend storing their savings in different assets and Light is not the last of them.
The highest cost of Litecoin was in 2017 – $ 352 per 1 unit. Then, to simplify the calculations, a changeable unit was introduced – Litoshi (Litoshi), which makes up one hundred millionth part of Litecoin. Then the rate began to fall gradually with slight fluctuations and by the beginning of 2019 fell to 40 USD, six months later it rose to 140, and by mid-autumn it fell again – to 60 USD.
Despite the relatively low cost and its constant changes, Litecoin’s earnings are attractive for several reasons:
- Great lifespan. The release of this currency is limited to the amount of LTL 84,000,000, which is 4 times the planned number of Bitcoins. And since it is assumed that after the end of the BTC cryptocurrency emission, other digital currencies will quickly grow, Litecoin will most likely be among the first.
- High potential. Against the background of a significant complication of Bitcoin mining and the expected cessation of Ethereum mining on personal PCs in the near future, the average user will most likely be able to earn Litecoin. And with increasing interest, its course will invariably increase.
- Expedited Transactions. It takes 2.5 minutes to generate each new LTC block (for comparison, a BTC block is created in 10 minutes). This contributes to faster transactions within the network, which makes Litecoin the most profitable electronic currency for transfers around the world.
Earnings Litecoin is considered a good option to improve your financial situation, both in the short term and for the future. But, before you start earning this cryptocurrency, you must first have an appropriate wallet to store it. It is recommended to download it on the official Litecoin.org website by selecting Electrum Litecoin wallet (installing another will take 10-12 hours and 9 GB of memory).
We recommend downloading all wallets only from time-tested sources, only from official websites of developers! Take the time to read reviews on thematic forums and blogs, or ask experienced crypto fans.
There are different ways of mining. They differ in profitability and cost of both time and money. Choosing the right one should be based on your own capabilities, the potential of existing equipment and the availability of finance. Free options are ideal for beginners, since you can earn Litecoin without attachments by completing simple tasks or, literally, effortlessly.
How to earn LTC without investments
For mining Litecoin on the Internet, there are different types of services that distribute cryptocurrency for certain actions on the site. According to the method of earning, the following types of such resources are distinguished:
- Litecoin cranes (axle boxes);
- Online Games;
All of them differ from other similar services only in that the payment is made in Litosi.
Litecoin cranes (axle boxes)
Litecoin cranes (or bucks) are sites that offer registered users to watch ads, enter captcha, surf sites, launch videos and perform other tasks for a small fee. Such sites are intermediaries between advertisers and customers. The former pay them for the display of their advertising products, and the latter earn the amount of these views, for which they receive a part of the payment.
To earn Litecoins, you must first register, enter the litecoin wallet data and begin to perform the recommended actions. It should be borne in mind that tasks are issued with a set time interval of 5 to 60 minutes. For one approach, you can get a very small (50-500) amount of Litoshi.
It is possible to withdraw earned coins to the wallet only upon reaching the established limit. Delaying with this process is not recommended – as soon as the minimum amount is collected, you need to immediately transfer it to your online wallet. Even the most reliable crane at any time can stop payments or its existence and all earned Litos will disappear.
If we consider this litecoin earnings in terms of the ratio of income and time costs, then it turns out to be relatively balanced. It’s not possible to earn much from one crane-box – a maximum of 1000 rubles per month (with a good Light rate). But it won’t take much time either. To increase profits, you can register, for example, on 20 sites. If you work for them for 10-12 hours daily, then the payment will increase accordingly. However, to implement this in practice is almost impossible, therefore, cranes should not be considered as a source of income, but as an option for the gradual accumulation of LTC. You can also try crane rotators, these are services that facilitate the collection of crypts from several axle boxes at once.
Online games with payment in LTC
Ordinary computer or mobile games, in which prizes for reaching a certain level are paid in Litosi, can also be an excellent extraction option. It is most suitable for gamers who already spend a lot of time in the game, so no additional effort will be required from them. You just need to find such game services that pay rewards in the desired coins.
It should be borne in mind that there are two types of free litecoin games:
- The device (computer or smartphone) during the game process is connected to the mining network and its power is used (also free) for mining Litecoin, and the user has the opportunity to earn LTC only as a win in the game;
- At the same time as the game, you need to view the ads, not getting Litosi for this (like on taps or axle boxes), but winning them during the game.
The base of games of both types is very extensive and diverse, therefore, in order to switch to the Light earnings, gamers will not have to radically change their addictions. True, the income will be extremely small, but it will go as an additional bonus to the usual pastime.
Freelance and Litecoin
You can really earn LTC without investments and in a fairly large amount on freelance. But the amount earned will depend on the knowledge, skills, nature and cost of the tasks. For example, the skilled work of specialists in the field of IT is paid very well and can bring a monthly income, calculated not in Litoshi, but in Litecoin coins.
The greatest difficulty in this case is that there are very few reliable freelance platforms where payment is made in cryptocurrency. When working with customers, you can directly stipulate in advance the possibility of calculating in Light.
As you can see, Litecoin earnings without investments (except for freelance – if you are lucky) cannot be considered as the source of the main income, and it will take several years to accumulate at least some significant amount. A more serious profit can only come from those methods that require financial investment.
Earn Litecoin with attachments
You can earn Litecoins with attachments in different ways:
- Mine on your equipment;
- Engage in cloud mining;
- Trade on exchanges;
- Play in online casinos;
- Invest in ICOs, various investment sites, projects and funds.
All of these options differ significantly between each other in the amount of investments, profit margins and potential risks. It should be borne in mind that earning LTC does not always allow you to recoup the financial costs of organizing it. In some cases, the income does not exceed the invested funds and the idea is unprofitable.
Mining on its equipment
The emission of Litecoin, like any other cryptocurrency, does not occur centrally, but due to the capacities of a huge number of computers located around the world. The process itself is called mining and is based on mathematical calculations that are carried out by all devices connected to the network. The goal is to search for code encrypted in a specific transaction block. The owner of the computer that calculates this code receives a reward. At the time of the appearance of Light, the premium size was 50 LTC, in 2015 – decreased to 25, and in 2019 – to 12.5 coins. It is most profitable to mine Litecoin on Asic devices, but it can also be mined on video cards. Mining on processors is almost not practiced.
On video cards
Mining on video cards requires less investment and is not as risky as on Asic devices, but less profitable. In order to earn Litecoin in relatively significant amounts, it is recommended to use not one, but at least 6 video cards, collecting from them the so-called mining farm.
To assemble such a farm with six Radeon RX590 cards, which are considered optimal in terms of price and profitability, you will need $ 3,500, of which 2,500 will go to video cards, and another 1,000 to the rest of the equipment. The income from this farm will be about $ 150 per month and about 1800 per year. Investments will pay off in the best case for 2 years. In this case, the monthly payment of increased electricity bills must be taken into account. In addition, the amount of income can vary significantly depending on the rate of Litecoin, the speed and quality of the Internet connection, the reliability of the equipment and power supply, the complexity of mining and other factors.
On Asic Devices
Experienced users use Asic devices to earn Litecoin. A good model costs about $ 4,000 and will bring about $ 500 a month, and about $ 6,000 annually, that is, it can pay off already in the first year of work, but again, everything is strictly individual and depends on a number of the above factors.
With this option, earning LTC should take into account some risks:
- Unexpected device failures;
- The complication of mining on home equipment;
- Sharp drop in the course.
At the same time, owners of Asic devices are at greater risk. In case of depreciation of the cryptocurrency, the video card can be sold, and Asik will not be needed by anyone.
Unlike classic mining, cloud computing is based on the use of leased capacities, not of their own. They are leased to large companies involved in mining Litecoin, which then pay the received remuneration in accordance with the tariff plan. In this case, the amount of income depends on the size of the capacity.
Cloud mining services of Litecoins offer many resources. But when choosing them, you need to carefully check the reliability, since in this area there are now many scammers. Typically, such one-day sites take rent and after that do not get in touch or simply do not pay the earned coins. In addition, among reliable sites, you must give preference to those with favorable rates.
Having decided to make Litecoin cloud mining, you should not start with large investments. It is best to try with minimal capacity, the rental of which costs a few dollars a year. More experienced users can choose higher capacities with the corresponding payment.
Risks in cloud mining are the same as in classic mining: the mining process itself may become much more complicated or the rate of LTC will decrease. Another one is also added – the probability of closing the service before the investment is paid off.
Exchanges (trading Litecoin)
To earn Litecoin trading, you need to have analytical skills and understand this area. Profit on exchanges is obtained by the following algorithm:
- Buy a certain amount of Litecoins at a lower cost;
- Sell coins when the rate rises;
- Then wait for the decline again and buy a new batch.
It is important not only to follow the course, but also to be able to anticipate its fluctuations in one direction or another. To do this, consider a number of factors:
- LTC value in relation to other digital currencies;
- Litecoin exchange rate dynamics;
- Changes in the cryptocurrency market as a whole
An increase or decrease in the value of electronic assets can occur quickly and unexpectedly under the influence of any circumstances. Therefore, you need to do analytical work constantly, so as not to lose the invested funds, but to make a profit.
Gambling is a very risky way of making Litecoin by its unpredictability. Here you can both increase your capital several times, and lose it at one time. To earn Litecoins in an online casino, you need to select a resource using such cryptocurrency, register and make a deposit to your account.
It is advisable to start with a small amount of Litosha. And for those who have been playing for a long time and are well acquainted with the principles, the size of the deposit depends entirely on the presence of coins in the asset. In order not to lose large amounts, you need to bet carefully or not to risk at all. But we do not recommend this kind of activity in principle, because of the extremely high risks.
ICO, various investment sites, projects and funds
Choosing one of the promising, at first glance, investment projects, one should first of all take into account the proposed investment conditions and in no case risk all of its lightcoins in one fund, no matter how profitable and reliable it may seem. You can earn in this way from 10% to 45% per month, according to average indicators, not forgetting the volatility of the course. But the risk of losing your crypto assets is also great. Fortunately, strong funds very often appear on the network, allowing you to successfully earn different amounts in lithos and LTC.
Affiliate programs and Litecoin
Affiliate programs themselves relate to the options for earning Litecoins without investments, because their essence is to popularize all the above resources and invite people to register for them and start working or using services. On the other hand, LTC can be earned in this way mainly by owners of well-developed websites, blogs or social media pages. And such promotion requires considerable funds. Although it can be promoted from scratch, it will take a lot of time and effort.
The principle of making Litecoins on affiliate programs is as follows:
- After registration in the selected service, the user receives a referral link;
- Then begins to advertise it with all available methods: post on its resources, send it by e-mail, publish in discussions on forums and other techniques;
- Interested users follow this link, register and begin to earn or perform other necessary actions;
- For each of them a bonus is awarded.
Bonus rewards are different. Some resources pay for building up visits, others for registration, and others for a percentage of earnings or deposits. In any case, the more people follow the link, the more income will be.
How to not earn Litecoin
There are quite a lot of legal ways of mining Light, but there are not quite legitimate offers that can be difficult to refuse, but it’s better not to participate in them. These include widely advertised programs:
- ‘Cryptocurrency Doublers’;
- ‘Crypto coin collectors.’
In the first case, we are talking about services that offer to double the amount of money invested. Many try sending several Litosha, and they really come back in double size. But if you believe it and transfer a larger amount, then nothing will come back.
The second option is programs that promise to automate the process of working on Litecoin cranes. At the same time, so-called bots are engaged in viewing ads and surfing sites instead of the user. To get such an “Auto-collector” you need to pay a certain amount, and then download to your gadget and attach it to the desired site. And here there are several options for cheating:
- After paying the cost, no one gets in touch anymore, and the paid program remains unavailable;
- In the case of receipt and installation, the program is unable to fulfill the promised functions, since the owners of the cranes need real people to watch ads, not robots, and they establish protection – captcha input;
- If the ‘AutoCleaner’ still started to work, then it is quickly identified and the user account is blocked for the above reason.
Therefore, it is better not to look for easy ways, but to work honestly and only with trusted sites. You can get ‘silver’ coins without the slightest risk, high costs and significant effort. You just need to choose the appropriate option and regularly engage in the extraction of promising cryptocurrency.