Who doesn’t love a freebie? We certainly do, so we’re sure that you feel the exact same way. Free cryptocurrency isn’t easy to come by, but it’s by no means an impossible find. It’s certainly possible that you can grab cheap cryptocurrency, but you’re going to need to be smart, savvy, and have a keen eye for a bargain.
Litecoin is the sixth largest blockchain project in the world by market capitalization. It’s also an investor favorite, with many seeing it as a coin that has the legitimate power to change the world. Best of all, this coin can deliver impressive profits if you know how to snap it up on the cheap.
Here are five ways that you can earn free or cheap Litecoin.
Turn on the Faucets
If you’ve read our Bitcoin terminology guide you’ll already know what a faucet is. If you haven’t, a Litecoin faucet is a reward system in the form of a website or application. When a faucet is “On” the LTC can flow freely, but getting your hands on the digital cash isn’t always easy. Faucets can be both hectic and time-consuming, but if you want free Litecoin they are ultimately worth the effort.
Leading faucets for Litecoin include MoonLitecoin, Earncrypto, and QoinPro. However, we must issue a word of warning, as there is a smattering of scam faucets around. Before you explore this method make sure your chosen faucet platform is authentic and reputable. In a side note, some micro-wallets – see the likes of Coinpot – can collect and combine faucet payments, which makes culminating funds easier.
Lend Your Litecoin
If you are of a generous nature, you can make money by lending Litecoin to others via lending platforms. The expected return can be as high as 20%, which shows that there is real LTC to be made here. This method does require you to have a solid amount of LTC to behind you though, but the ends certainly justify the means. By lending Litecoin you are making your digital money work for you, earning you more LTC in the process – just make sure that you choose a secure lending platform.
Smack Down a Wager
There is an argument that it takes money to make money – so the easy way to get free Litecoin is to simply gamble your way to it. BitStarz ranks as the leading cryptocurrency online casino for a reason, as it’s become a haven for super-hot Litecoin play. Through a raft of games, there is nothing stopping you from turning a small amount of LTC into a huge stack with just a few clicks. Question is, will you embrace the risk to rack up free LTC?
Trade Your Way Up
Calling it how it is, trading currency – digital or otherwise – isn’t a sure thing. Yet, if you can become proficient at it, trading presents an easy way to make extra LTC without any additional investment. Buying and selling is the aim of the game, as by mastering these moves around the next bull market shift you have the potential to yield huge results.
Shorting Litecoin is risky, but it’s certainly not the riskiest way to trade LTC – margin trading takes that title. Cost effective without question – but largely dependent on borrowing – margin trading requires extensive skill and analysis to execute. If you’re willing to take it seriously and learn while actively trading, you can trade in the margins market with LTC and potentially earn free Litecoin daily.
HODL, HODL, HODL
It’s the exact opposite of trading Litecoin, but the buy and hodl approach has proven results. Given the cryptocurrency markets’ tendency to skyrocket beyond all recognition, actually holding onto an investment could well turn out to be easiest way to generate an increased amount of Litecoin. Because the crypto market is notoriously volatile, by hodling at the right time it could potentially double or triple your investment over a 12-month period.
Locate Some Cost-Free Litecoin!
You want free or cheap Litecoin? You’ve come to the right place, as the above can certainly help you grab LTC on a budget!