How to Earn and Spend Litecoin (LTC)?

However, it is possible that some individuals are unwilling or unable to invest directly in LTC and are looking for alternative methods to obtain Litecoin without having to make an investment in it. Likewise, it could also be that people have Litecoins in their possession, but do not know how to spend them.

In order to help our readers know how to earn or spend Litecoin, together we are going to look at several different options to achieve this goal. However, we would like to point out that this article will not be exhaustive and will only present a few options among the multitude that exist, those that we consider the most interesting.

Buying and Selling Litecoin on a Trusted Exchange Site

Usually, users go to an exchange site to buy or to sell of Litecoin. This is arguably the most popular way for an investor to procure LTC tokens or else from sell them to use the profits made to have fun in his everyday life.

However, care must be taken not to go over any platform purchase or sale for carry out your operations. Otherwise, it is quite possible to come across a scam and of lose your investments. In order to avoid this, we advise you not to register on one of the sites that you can find in our ranking to carry out your buying and selling operations. safely.

However, this classic option has the disadvantage of require an investment on your part. In addition, selling LTC tokens for fiat money (euros, dollars, etc.) is not really a direct expenditure of your litecoins.

The options available to you to earn Litecoin without investing

Due to the popularity of Litecoin, there are several methods that allow LTC to be obtained without having to invest money from own pocket.

Although these options will not necessarily allow get a ton of litecoins, these are always good plans that it is interesting to use in the event that it is impossible for an individual to pass the KYC a buying platform or one that does not yet have enough confidence in cryptocurrencies to invest in it serenely.

As the opportunities to obtain free LTC are quite numerous, we have decided to present only those that we consider the most effective to our readers.

Earn Litecoin by performing micro-tasks

There are many websites that allow users to earn money by performing tasks as watch videos, fill out surveys or test games. Each time an action is performed, it is possible to receive a few cents.

Usually, these platforms pay the people who perform these actions with gift cards, fiat money (euros, dollars, etc.) or by giving them points that they can redeem for rewards in a special shop. However, nowadays some sites also allow people to be paid with cryptocurrency, including the Litecoin.

If you have free time and don’t know what to do with it, it is worthwhile to register on one or more of these platforms in order to perform these tasks. Even if these are forbidding things to do, it nevertheless allows earn LTC without having to invest money directly.

Earn LTC via your salary

If you are a freelance worker or that you work in new technology industry, there must undoubtedly be an opportunity to perceive at least in part your salary with LTC.

Of course, not all the people or companies you will be working for will agree to pay you with money. Litecoin, but it’s entirely possible to find a few that won’t be a problem at all.

Don’t forget to ask for a small supplement to your usual salary if you use this method in the event that you intend to declare your income to taxes subsequently, because they will want to recover some of it for them.

Getting Litecoin by Lending Money

If you already have Litecoin and that you do not use it, it is possible to lend part of your assets to other people to receive in exchange for interests on these sums. However, you have to be careful about doing things correctly.

If you lend money to a friend or a loose acquaintance in LTC and sign an IOU, this one won’t be worth much in court from most countries if you do not get your money back. The farther away from you the person to whom you lend money is, the greater the risk of not receiving your litecoins is important.

As it is very risky to lend money in LTC to an individual, it is absolutely necessary to go through a platform which allows you to do this for you. By giving them your litecoins, the site will be able to lend them to other users at a certain rate. In exchange, the platform you will repay part of the interest paid by the borrower. You will not get 100% interest for yourself, but you are guaranteed to review the sums you have loaned and to receive a commission in the process.

The methods available to spend your LTC tokens

Now that we have seen a few options for get free LTC, it suits analyze the methods available to you to spend them.

Again, as Litecoin is a very popular digital asset, there are many different possibilities to spend your LTC tokens directly without having to first convert to fiat money through the use of an exchange.

Spend your litecoins to donate

There are many websites that are freely accessible and where you can find high quality information, whether on cryptocurrencies in particular, or on more general sites such as Wikipedia for example.

As you might expect, write all this information, especially when they are qualitative, takes time, whether at the level of writing or in relation to the knowledge accumulated on the subject.

If some of your readings, or viewings of video, you liked, you sometimes have the possibility of leave a small tip via crypto wallet addresses. Most of the time, we mainly find an address Bitcoin or Ethereum, but the Litecoin is the third most used cryptocurrency for donating.

Pay for your purchases with LTC

If the France and Europe are a little late compared to asia at this level, however, it is possible to be able to pay for purchases from certain merchants with digital assets, including the Litecoin. Most sellers who accept the Litecoin as a means of payment are online, but there are nevertheless a few in the traditional stores.

It is a method which is not yet very widespread, but which is gradually popularizing. A few years from now, it’s a safe bet that paying with cryptocurrency will be very common.

Some crypto projects are also in the process of develop multi-currency payment systems. Thus, for example, it will be possible for an individual to pay with the digital asset of your choice, the Litecoin for example, while allowing the merchant to receive payment in the currency of their choice, let it be another crypto or else from fiat money.

Spend Litecoin with a crypto card

For now it’s hard to be able to spend Litecoin for make purchases with this digital asset. As we are not that at the start of the cryptocurrency era, it will be necessary to wait for the general public to start adopting these virtual currencies before they can be easily used in everyday life.

While waiting for crypto payment solutions to become mainstream, some companies have decided to create crypto bank cards whose system is quite simple. By binding to these cards Visa or MasterCard your crypto wallets, each time you use them to pay in everyday life, the equivalent of the amount in fiat money is deducted from your digital assets.

For now, it is still a system that is largely improvable and who owns a lot of costs, but given the arrival of competition in the sector, we can hope for a improved functionality and lower transaction costs in the near future.

Conclusion on obtaining and spending LTC tokens

Now is the time to wrap up our article on getting and spending LTC tokens. We hope it has given you some ideas on how to get or best spend your Litecoins.

As we have seen, one should not hope to earn astronomical sums without investing in Litecoin. At best, you will be able to pocket small amounts, unless you exchange part of your salary for LTC. In the latter case, it is roughly the same as investing directly in that digital asset.

Regarding the expense of LTC, it is still extremely difficult to be able to use them in everyday life in European countries. However, things are slowly improving, but it will take a few more years before this becomes normal.

If you want to learn more about Litecoin, we invite you to consult our LTC guides. Each time, we deal with a particular point related to Litecoin, which should make it easier for you to choose the subjects you want to explore.

Related Articles

Back to top button