What is Litecoin? If you are into Crypto Currencies, you should be familiar with the name Litecoin as this coin has been existing since 2011 and one of the very first true “altcoins” that has stayed. There are a lot of altcoins that tried to compete with big names but didn’t have enough gas to last that long. Litecoin, on the other hand, has been there for a very long time and is just showing how resilient it can become when it comes to market volatility. And with the recent announcement of Charlie Lee leaving Coinbase to focus on his creation, is good news to the Litecoin community!
Litecoin just recently past the $50.00 mark after many years existing in the market. This simply cements the idea that the coin is legit. And when it comes to crypto currency mining, you, of course, need to make sure that the coin that you are mining is worth something to avoid converting it to Bitcoin or holding on to something that may be worth nothing after a few months.
Before deciding on to mine Litecoin, you can actually calculate how much you would make through this Litecoin calculator.
Why Mine Litecoin?
There are a few things why a mining rush starts. First, mining rush comes when people see an opportunity to mine something that is already valuable or they see something that can be profitable after a few years. Due to the recent revival of Litecoin value, this would attract people to start mining Litecoin now. This would be the perfect time to do so as the creator of the coin now plans to divert his full attention to the project that has been going on for five years now.
We are all quite aware that when a coin goes up suddenly, there is an expected dip a few days after that sudden increase. Compared to Litecoin’s cousins, the crypto currency market has always been crazy on the charts throughout the years. Litecoin has been steadily existing under the radar and of course still working until this day.
With that being said, which mining method is perfect for mining Litecoin? You can, of course, use your GPU to mine crypto currencies. But a GPU miner is easily defeated by new ASICs that come to the table. Since ASIC mining has been available for Litecoin for a very long time now, it would be better to go this way.
But of course, we have cloud mining for you to forget about what type of hardware is perfect to mine Litcoins and just pay for a cloud mining contract and you are good to go. Please keep in mind that when it comes to cloud mining contracts, you need to read through each company’s policies. One thing you also need to keep in mind would be Litecoins mining difficulty which can be viewed through this link.
The more miners that jump into the opportunity to mine Litecoin the harder it gets. That’s why a crypto currency’s difficulty constantly goes up, this should be one of your points to keep in mind if you want to earn in cloud mining.
Best Litecoin Cloud Mining Website
Here are the websites that cater cloud mining for Litecoin. Again, always read through the company’s background before investing money into them. Click on the websites to get redirected to their reviews.
HASHFLARE.IO: Cloud Mining, Time-Tested
Today we want to tell you about a reliable project cloud mining – Hashflare, which is located on the website hashflare.io. Project time and with his stable payments has proved its reliability for the investment of available funds. But if you have not yet become a client of this service, our small review will help you to understand the intricacies, invest and receive passive income.
Put on your mining helmets, it’s time to mine!