The world of cryptocurrency is fast-moving and people are on the lookout for ways to invest. The crypto market has more coins than ever before. Of course, Bitcoin still is considered one of the most valuable crypto coins. However, there are plenty of other altcoins that also perform well in the market. Most of the coins operate on a decentralized system, meaning that the risks involved are limited.
In this guide, we will take a deep dive into Litecoin. The article will focus more on ways through which you can earn interest on Litecoin. We will share how you can enjoy the highest litecoin interest rate and earn free crypto.
What is Litecoin?
The official Litecoin website describes Litecoin as a P2P, or peer-to-peer, internet currency. Litecoin enables users to make quick payments for goods and services at very low transaction rates. The coin operates on a fully decentralized network, meaning that you do not have any authorities governing or monitoring your transactions.
You can purchase Litecoin from any crypto exchange platform. If you do not have an account on any crypto exchange platform, you will have to sign up for one. The process is quite simple and there plenty of crypto exchange service providers on the market. When looking for a crypto exchange platform, make sure you crosscheck the services they are offering. At the very least, ensure that their platform is secure and check what payment methods they support.
YouHodler Wallet Services
Most crypto exchange platforms offer free wallet services. However, this limits your control over your crypto assets. Ideally, the exchange platform keeps your private keys, meaning that you cannot recover your assets in case the platform goes down. It is always a good idea to invest in a private crypto wallet service.
YouHodler is a crypto wallet service platform that offers more than keeping your assets safe. You get to enjoy high litecoin apy. This means that you will earn interest on litecoin all year long. One thing most crypto investors struggle with is holding their coins, especially during dips. Most people are tempted to sell their assets.
The litecoin interest rate on YouHodler is at an annual percentage rate of around 12.3%. The ltc interest earnings are deposited into your account every week. Besides that, you can get crypto-backed loans to buy more coins. In summary, this means that you will not need to sell your crypto coins.
Bottom Line
If you’re looking to invest in crypto, more so altcoins, Litecoin is a coin worth investing in. It may not be as valuable as Bitcoin or Ethereum, but it does have the potential to grow over time. Once you buy your first coins, do not forget to sign up for a YouHodler account.
Aside from earning ltc interest, you can also leverage your assets and acquire crypto loans. You can also use your crypto saving to get a loan in fiat currency deposited directly to your bank account.