What is Litecoin?
Litecoin (LTC) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Inspired by and technically nearly identical to Bitcoin (BTC), Litecoin creation and transfer is based on an open source protocol and is not managed by any central authority. Litecoin is intended by its developers to improve upon Bitcoin, offering several key differences.
Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a former Google employee. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.
As of November 2013, Litecoin had received extended coverage by mainstream media with agencies such as the Wall Street Journal, CNBC and The New York Times citing it as an alternative (or possibly even successor) to Bitcoin. In May 2017, Litecoin became the first of the top-5 (by market cap) cryptocurrencies to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed through litecoin, transferring 0.00000001 LTC from Zurich to San Francisco in under one second.
Who use Litecoin Faucets?
If you already know basics about Litecoins then you would instantly understand that the amount given by Litecoin Faucet is negligible. You won’t spend much time on claiming these rewards even if it is free.
So, the majority users of LTC faucets are the beginners who just started trying hands on litecoin or children who cannot legally buy/sell litecoins.
Free Litecoins without serious financial expenses
When we receive more knowledge about the digital currency and about the possibilities it opens, we want to get some amount of these coins in our account at once.
The only way to get some free litecoins without serious financial expenses is visiting the pages with the so called faucets. Litecoin was created on Bitcoin base, so it has almost the same names of the derivatives. Satoshi became Litoshi, milli-bits – milli-litecoins, etc. What is a Litoshi? A Litoshi (1 Litoshi = 0.00000001 LTC) is the smallest fraction of a Litecoin, to be exact a hundred millionth of a Litecoin (1 LTC = 100 000 000 Litoshi).
On these Litecoin faucets, you can receive a certain amount of litoshi, fulfilling the simple actions before that. The typical order of actions on such websites is the following: entered a page, logged in, typed the address of your litecoin wallet, waited several minutes, typed a captcha to prove you are human being, took the reward by clicking the button.
Claim Free Litoshi
Keep in mind that it’s going to take some of time to get to that amount using faucets, but it’s fun and it’s free! And even if you visit some faucets daily, think about how much you can get after 1 year! Be patient, don’t be greedy and results will come!
There does not seem to be too many Litecoin faucets that are still working. Litecoiners don’t have too many faucets out there. They seem to be the silver of bitcoin, so you figure they would give out more coins. But they don’t seem to want to spread the wealth around. Their marketing does not seem to be as good as other altcoins. Where is the litecoin infrastructure? It seems quiet! Litecoin has a head start on all the other coins besides bitcoin. There does seem to be some infrastructure there, they need to make it more widely known. And if more businesses begin accepting it, then they will always be in the top five currencies.
How Litecoin Faucet owner earns?
Till now you would be really surprised and attracted by Litecoin Faucets. If yes, then no wonder you would be thinking about Why faucets are paying money or how the owner of a faucet will earn.
If you visit any of the faucet, you will find ads on the website. So, the owner of the faucet earn through advertisements only.
Earning of Faucet = Advertisement Income – (Claim Payout + Referral Payout + Website Expenses)
Hence to make a profitable Faucet, the income through advertisement should always be more than the payout as well website expenses.
What is the benefit for faucet owners?
Certainly, many people are interested in the question – what is the benefit to give cryptocurrency for free? If you have visited faucet sites, you may pay attention to the huge number of advertisements that are placed there. Selling space for advertisements, faucet holders not only cover their costs but also earn good money.
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