Discover methods of earning Litecoin such as leveraging loans to trade and earning interest from Litecoin accounts

Best Platforms to Earn Litecoin


What is Litecoin?

Litecoin is one of the better known, most traded, and most valuable cryptocurrencies on the market. Many investors prefer to hold on to their Litecoin and would even like to add more to their crypto portfolio. Buying LTC outright is always an option but there are other ways to get your hands on additional Litecoin. As a matter of fact, there are multiple methods available to earn Litecoin.

Earn Free Litecoin

Just about anybody can learn how to make Litecoin if they know about the different methods available. Here are a few of the different options out there to get free Litecoin.

  • Mining: Litecoin mining became too expensive and complicated for most to consider this method. However with the advent of cloud mining the average person can become involved. Cloud mining works by installing software on your device which then uses your computer/phone’s memory to mine LTC.
  • Faucets: Faucets are websites or applications that give crypto such as Litecoin to their users for performing different tasks. There are a variety of tasks such as playing simple games, watching videos, completing captchas, and completing surveys to name just a few. A small amount of Litecoin is awarded for the completion of each task. Faucets are a good way how to earn Ethereum and other cryptocurrencies as well.
  • Gambling: There are plenty of crypto casinos online where you can bet using Litecoin. This is a risky method, but if you are going to gamble anyway then might as well place your bets using Litecoin.
  • Affiliate Programs: Some businesses related to Litecoin and other cryptocurrencies will pay commissions in LTC for referring customers to their site.
  • Freelancing: Many companies that hire freelancers are quite willing to pay salaries in Litecoin and other cryptocurrencies. Those working as freelancers, or thinking about it might consider drawing their salary in LTC

These are a few of the ways to get free Litecoin without having to buy it outright.

Earn Litecoin Online

One of the more popular ways to earn Litecoin online is through crypto lending and trading. Traders can leverage their existing crypto holdings to buy and trade Litecoin online. Crypto lending platforms offer loans with no credit checks as long as the borrower has cryptocurrency they can use as collateral to secure loans. Loans can then be used to trade crypto. Experienced traders who know the market can do well whether the price of Litecoin is up or down. The basic process is fairly simple:

  • Register to a platform: Select a site to earn Litecoin and complete the registration process
  • Identity verification: Users will have to verify their identity to comply with KYC requirements
  • Deposit collateral: Deposit the required collateral to secure a loan
  • Receive the loan and start trading: Once identity is verified and collateral is deposited the loan will be released immediately

Leveraging crypto assets to trade is a popular method to earn Bitcoin and other cryptocurrencies as well as LTC. There are many crypto lending platforms online. We have provided you with information on 3 of the top platforms to make selecting one easier.

BlockFi

Founded in 2017, BlockFi is a New Jersey based crypto lending platform that offers crypto based loans, interest earning accounts, and crypto trading for Litecoin and several other cryptocurrencies. The current interest rate for Litecoin accounts is 6.5% APY. There is no minimum deposit requirement to open an account and no monthly fees to deal with. Litecoin backed loans are also available. Interest rates on loans vary depending on the loan to value (LTV) ratio which at BlockFi can be as high as 50%. The minimum loan amount is $5000.

YouHodler

YouHodler is a Switzerland based crypto loan platform that opened its doors in 2019.  The site offers interest earning accounts for 22 different cryptocurrencies including Litecoin. YouHodler LTC accounts interest rates are currently at 5.5% APY. The minimum deposit required to open an account is $100. There are no monthly fees on YouHodler interest earning accounts. The site also offers crypto backed loans in US dollars, Euros, GBP, Swiss Francs, BTC, and USDT. Loans may be secured using 18 different cryptocurrencies as collateral including Litecoin. The LTV ratio at YouHodler goes as high as 90%.

CoinLoan

CoinLoan was launched in 2016 and is a crypto lending platform based in Estonia. They offer interest earning accounts for 2 fiat currencies and 16 cryptocurrencies including Litecoin. Litecoin accounts can earn interest as high as 7.2% APY but this rate is only if the depositor has staked CLT, the CoinLoan Token. Without staking Litecoin accounts earn 5.2% APY. There are no monthly fees on CoinLoan accounts and the minimum deposit to open an account is €100. Crypto backed loans are another service offered by CoinLoan. Litecoin and several other cryptocurrencies are accepted as collateral.

How to Make Money with Litecoin

One of the best ways to make money with LTC is with an interest earning Litecoin account. These are available on many crypto lending platforms like the ones discussed above. Investors may deposit their idle Litecoin to an account and earn interest on their deposit. The advantages are depositors receive a regular income, they still benefit from increases in the LTC value, and deposits on crypto lending platforms are secured by collateral from borrowers on the site.

Frequently Asked Questions

1. How is it possible to earn Litecoin without mining?

There are numerous ways to earn Litecoin without mining. These include completing tasks on Litecoin faucets for LTC, earning an LTC salary from freelancing, trading Litecoin, and earning interest on a Litecoin account.

2. What is fastest way to earn Litecoin?

The fastest way to earn Litecoin that is also relatively secure is through an interest earning Litecoin account. Interest earning begins as soon as Litecoin is deposited into an account. Litecoin trading is a fast way to earn LTC but is riskier and requires extensive knowledge of the market.