The success of Bitcoin set the pace for the creation of other cryptocurrencies. When Bitcoin was launched, most people didn’t think cryptocurrencies would ever go mainstream. However, the past few years shows us that they can and are already doing so. Cryptocurrencies coins offer plenty of benefits, allowing people to save their assets without risking the negative effects of inflation.
There are plenty of cryptocurrencies on the market. Bitcoin is by far the most valuable of them all. It has higher liquidity compared to almost all altcoins. Other crypto coins are collectively referred to as altcoins, which is short for alternative coins. Litecoin is one of the most valuable altcoins and previously ranked in the top ten list of cryptocurrencies by market capitalization.
If you’re new to crypto, this guide will help you understand how to get free ltc. But first, we will show you how to buy cryptocurrencies. We will also share with you how you can earn interest from your crypto assets.
How To Earn Free Litecoin
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Purchasing Litecoin
This guide will work for any other crypto coin that you’re planning to buy. You will need to sign up for an account on a crypto exchange app of your choice. Crypto exchange apps allow users to buy, sell, and swap crypto coins.
You will need an email address for your account registration. After successful registration, your next order of business will be to verify your account. Sometimes, you may be asked to upload a copy of your government-issued ID when completing transactions. You will also need to add your preferred mode of payment. Most exchange apps allow users to buy crypto using their credit or debit cards.
Some exchange platforms offer a pro-savings service that allows users to earn interest in litecoin. We will discuss more about this in the next section. There are a couple of factors you should consider when choosing a crypto exchange. Read reviews from other users and ask questions about how long transactions take before they’re completed.
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YouHodler Crypto Savings Service
YouHodler is one of the leading lending platforms where you can earn interest in cryptocurrencies. Most crypto investors often rely on trading alone to make profits from their crypto assets. Ideally, they will buy coins during a dip, hold, and sell when the prices increase.
However, if you use your pro-savings account on YouHodler, you will always earn interest in Litecoin. The earned interest is deposited into your account at the end of every week. Aside from that, you can leverage your crypto savings without having to sell. YouHodler offers crypto-backed loans.
Loans can be either as fiat currency or as a crypto coin of your choice. The interest rates are quite low compared to what regular banks charge. Most people, especially new crypto investors, struggle to hold their assets for long. Platforms such as YouHodler are a good choice as they allow you to receive free litecoin from your savings.
In summary, you need to remember that crypto coins are very volatile, especially those with low liquidity. Always do adequate research before buying any coin. Online crypto forums are also a good resource for crypto information and can be quite beneficial, especially for beginners.
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