Earn Free Litecoin: Strategy to Mine Litecoin Online
If you’re new to the world of cryptocurrency, you may have trouble believing that some cryptocurrencies like Bitcoin and Litecoin can be mined, and no, we’re not talking about the physical activity of having to mine the ground.
Yes, cryptocurrencies like Bitcoin and Litecoin can be mined, and that is what we’ll be discussing today, especially for Litecoin. Therefore, in this article, we will talk about a strategy to mine Litecoin online and earn free Litecoin.
If this looks like what you’re interested in, and it should, please stay with us while we address this topic.
What is Litecoin?
Of course you know we just had to take it all the way back, including what Litecoin even is, before proceeding to talk about the strategy to mine litecoin.
Litecoin is a type of crypocurrency or digital currency that was created in October 2011. It is fully decentralized and open-source.
When we talk about ‘open-source’, it basically means that it is not owned or controlled by any central authority, and anyone can contribute to the code.
It was also created as a serious competitor to Bitcoin, but over the years, its popularity has reduced, compared to Bitcoin.
Strategy to Mine Litecoin
And now for the star of the show, let’s talk about the strategies that you can use to earn free litecoin by mining litecoin online.
Step 1: Download and run the Litecoin Grinder
The Litecoin grinder is an application that you have to download on your computer.
Step 2: Put your Litecoin wallet address into Litecoin Grinder.
Be sure you’re copying the right address
Step 3: Click the “Mine” button to start mining Litecoins
I know you were probably expecting a 30-step strategy, but sorry to burst your bubbles, that’s it. Easy right?
Keep in mind however that all the hardware needed must be connected already. For example, hardware like AMD 5970 graphics card, and USB ASIC miners, must be previously connected before mining.
How to Trade/Convert Litecoin to Naira
To convert your mined Litecoin to Naira, you need to find a reliable crypto exchange platform that operates in Nigeria.
While there are a lot of platforms that exists, ensure the platform you choose is reputable, has good user reviews, and offers great exchange rates.
An example of such is Dtunes. Dtunes is a platform that stands out as the best website to trade cryptocurrencies including Litecoin in Nigeria. It also offers users a seamless and efficient way to convert their digital assets such as gift cards.
Step 1: Download App
First, go to www.dtunes.ng and download the app that is appropriate for your mobile device, whether it is Android or iOS. On the website, simply click the download link that corresponds to the operating system of your device.
Step 2: Set up your account
Once you’ve downloaded the app for your device, you’ll need to create an account. Our account creation and set-up process is simple and quick.
Step 3: Log into your account
After you’ve created your account, you’ll need to log into the app to begin trading.
Step 4: Set PIN and Bank details
Set your transaction PIN and bank details once you log into your account in order to secure the withdrawal process. When you log in, you will see prompts to set your PIN, biometrics and bank information. However, if you accidentally close any of these prompts, you can always access them again in the settings area.
Step 5-7: Initiate a trade
Once you’re set, go to the home screen, select “Trade Crypto”, choose “Trade Crypto”, and select the type of crypto you want to trade, in this case, Litecoin.
Step 8: Enter amount in $
You can then enter the amount you wish to trade in $. The rate will be displayed when you’re done filling in the necessary information, and then proceed to trade. Your transaction will be processed and you will be notified upon completion. Your funds in Naira will be sent to your Dtunes wallet.
Step 9: Withdraw to your added Naira account
Once you’ve received confirmation that your transaction was successful and the funds have been added to your Dtunes wallet, you can withdraw all or a portion of the funds to your Nigerian bank account.
If you do not want to withdraw the funds to your bank account, you can use them on the app to purchase airtime, data and electricity units.
Conclusion
The strategy to mine Litecoin online is as straightforward as it gets, and is not even as important as what happens after mining.
Trading with the right platform ensures that you get a good reward for your efforts, after all no one wants a loss.
