MoonLitecoin : Is Moon Litecoin the Best Litecoin Faucet?

Moonliteoin

MoonLitecoin is the most popular Litecoin faucet. Anyone who may have used a Litecoin faucet would definitely land on this faucet at least once such is its popularity. Apart from being popular, the faucet allows users to claim up to 1,000 litoshi every five minutes. 

Also Read -   Blockchain Jobs and Cryptocurrency Jobs

What are cryptocurrencies?
A cryptocurrency is a type of digital money created from code. They function autonomously, outside of traditional banking and government systems.
Cryptocurrencies use cryptography to secure transactions and regulate the creation of additional units. Bitcoin, the original and by far most well-known cryptocurrency, was launched in January 2009. Today there are over 1,000 cryptocurrencies available online.
Cryptocurrencies differ significantly from traditional fiat currencies. Nonetheless, you can still buy and sell them like any other asset. You can now also trade on the price movements of various cryptocurrencies via CFDs and spread betting. 

Cryptocurrencies fall under the banner of digital currencies, alternative currencies and virtual currencies. They were initially designed to provide an alternative payment method for online transactions. However, cryptocurrencies have not yet been widely accepted by businesses and consumers, and they are currently too volatile to be suitable as methods of payment. As a decentralised currency, it was developed to be free from government oversite or influence, and the cryptocurrency economy is instead monitored by peer-to-peer internet protocol. The individual units that make up a cryptocurrency are encrypted strings of data that have been encoded to represent one unit.

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Bitcoin is credited with being the first decentralised cryptocurrency. Like all cryptocurrencies, it’s controlled through a blockchain transaction database, which functions as a distributed public ledger. Bitcoin was created by Satoshi Nakamoto – whether the name refers to an individual or a group is unknown. 

A feature of most cryptocurrencies is that they have been designed to slowly reduce production. Consequently, only a limited number of units of the currency will ever be in circulation. This mirrors commodities such as gold and other precious metals. For example, the number of bitcoins is not expected to exceed 21 million. Cryptocurrencies such as ethereum, on the other hand, work slightly differently. Issuance is capped at 18 million ethereum tokens per year, which equals 25% of the initial supply. Limiting the number of bitcoins provides ‘scarcity’, which in turn gives it value. Some claim that bitcoin’s creator actually modelled the cryptocurrency on precious metals. As a result, mining becomes more difficult over time, as the mining reward gets halved every few years until it reaches zero.       

What is Litecoin?
Litecoin (LTC) is a peer-to-peer cryptocurrency that was set up by Charlie Lee (a former Google employee) in 2011. It shares many similarities with bitcoin and is based on bitcoin’s original source code.

How does litecoin work?
Litecoin involves the creation and transfer of digital coins via an open source, cryptographic protocol. It uses blockchain technology to record a decentralised, public ledger of all transactions.

Also Read - Litecoin Price Prediction

WHAT IS THE BLOCKCHAIN?
The blockchain is a shared digital ledger which holds a record of all litecoin transactions. Recent cryptocurrency transactions are grouped together into ‘blocks’ by miners. The blocks are then cryptographically secured before they get linked to the existing blockchain. Similar blockchain technology is used for a number of different cryptocurrencies, including litecoin and bitcoin.

WHAT IS MINING?
Mining is the process of securing each block to the existing blockchain using mining software. Once a block is secured, new units of cryptocurrency get released. Miners can inject these units directly back into the market.

Also Read - Top Bitcoin mining wallets

What is Moon Litecoin?
Litecoin

Moon Litecoin is a litecoin faucet with a difference...YOU decide how often to claim!
Whereas most faucets only allow you to claim once per hour or once per day, we allow you to claim as often or as little as you like* 
The faucet will gradually fill up - quite quickly initially but it will slow down over time - until you make a claim. So the longer you leave it the more you will be able to claim.You may prefer to claim a smaller amount every 5 minutes, or visit once per day and claim the large amount that has built up while you were away!
The site claims that the users can increase their earnings by 300 percent by taking advantage of the tiered bonus schemes. All payments are made instantly and directly to the users CoinPot micro-wallet. Registration is simple with all being required is user Litecoin wallet address or CoinPot account.

How the Moon Litecoin earn money?
The Moon Litecoin is the cryptocurrency faucet, and like other faucets, Moon Litecoin earns commissions from the advertisings which are displayed on the faucet website. So this is way, how can you earn the Litecoin for free and send it to your Litecoin wallet CoinPot.
MoonLitecoin


Common Types of Rewards in Faucets.

#1 Loyalty Rewards: These are the rewards which the user gets once a day for visiting the faucet at least once a day.
#2 Referral Rewards: This is set up to reward users for referring new users to the faucet. For each referral, users get a percentage point and will continue to accumulate.
#3 Mystery Rewards: This is a reward that shows up unexpectedly, usually at the bottom of the page when users try to claim free Bitcoins. Its content is not revealed until it is time for the faucet to dispense it so users do not usually know what to expect.
#4 Offer Rewards: These are special rewards that users can earn by completing offers and surveys from several options. The more offers are completed, the more a user can potentially earn.
#5 Mining Rewards: This is kind of a 100% bonus when the faucet uses a user’s computer for a Proof-of-Work process that mines Bitcoin. It is calculated based on how much processing power the user has contributed.

What is CoinPot?
CoinPot is a microwallet that was launched in July 2017 to service a select few free bitcoin faucets, yet many people seem to be concerned about its legitimacy, with some even suggesting it might be a scam site.

Main features of Coinpot
Micro-wallet
Lottery
Multiplier
Coin Conversion
Deposits and Withdrawals

Coin of Coinpot
Bitcoin core
Bitcoin cash
Dogecoin
Litecoin
Dash
Coinpot token – only used internally


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