Learn to earn passive income on Litecoin (LTC) using the fixed deposit income of up to 18% APR plus compound interest with CoinDepo. No margin trading included. CoinDepo provides a reliable way to crypto refer and earn, including the Litecoin.
Litecoin is a peer-to-peer volatile cryptocurrency that earned a reputation as an asset that can be used instead of Bitcoin. LTC appeared in 2011 thanks to Charlie Lee. It has a lot in common with its more popular counterpart, including similar blockchain systems and operation mechanisms.
However, the coin offers a few advantages like a different hashing algorithm, a higher potential token limit than BTC, and most importantly shorter block generation time. What does it all mean in terms of utility? This piece is going to explore that, as well as introduce the most reliable way to earn on LTC – CoinDepo Compound Interest Accounts.
A Guide to LTC’s Technical Features
LTC has been using a decentralized blockchain network based on the Scrypt hashing system to operate. Scrypt is meant to provide a higher level of anti-mining security measures, hence prompting the currency to be even more decentralized than Bitcoin.
In addition, Scrypt allows the currency to maintain a shorter time to form a block in its blockchain. Compared to BTC’s 10 minutes, LTC requires approximately 2.5 minutes. What role does it play? This feature allows the coin to be processed by the crypto transaction systems much faster than its counterpart.
LTC provides a higher maximum supply of its tokens – 84 million units compared to Bitcoin’s 21 million. A token supply limit is a metric meaning that there can be no more than a certain number of tokens in existence. This directly affects the value of the cryptocurrency. The smaller the cap, the more the currency is worth, but it is then much harder to mine. Cheaper currencies can be more suitable for everyday use.
Like Bitcoin, LTC uses Segregated Witness technology, which essentially makes all peer-to-peer transfer operations safer, cheaper, and faster. It separates some parts of transactions, such as signatures, from the main part, making them less complex and consuming. The currency also supports Lighting Network, which also enhances its scalability and off-chain transaction efficiency.
Overall, Litecoin is a decent alternative to Bitcoin if you need a more cost-effective and stable token to pay for everyday purchases. It is more abundant than its counterpart and, as a consequence, is more stable and suitable for small currency exchanges.
The development team and community of this cryptocurrency are working hard on new features to improve its blockchain and keep it viable in the cryptocurrency landscape. As one of the most popular coins, it offers a wide range of earning opportunities that include both traditional trades and crypto savings accounts, such as those from CoinDepo.
How to Earn on LTC?
Litecoin, an old player in the cryptocurrency industry, has caught the attention of many crypto investors and businessmen, both experienced players and newcomers. This currency is fully decentralized, which means it is not protected by the exchange rates of national currencies or collateral contributions from blockchain users. Accordingly, it’s volatile.
Due to this, the currency is often used in staking or trading/arbitrage for crypto pairs. You can also lend some LTC coins to other users and make profits from collaterals and interest rates on specialized borrowing platforms. Finally, you can check the promotions and air drops to benefit from your LTC assets.
However, all these methods have one disadvantage: you must constantly study emerging news and events, which requires time that you could spend on other projects and can be stressful. The constant engagement requirements make such activities ineffective.
In addition, the cryptocurrency market is always active, which creates conditions for unexpected market shifts. This landscape can be uncomfortable for most newcomers, who may find themselves in a difficult position due to fraudulent schemes and manipulation of exchanges.
Making Safe Profits on LTC with CoinDepo
CoinDepo basically offers Compound Interest Accounts (crypto savings accounts) that earn you extra funds as time progresses. You can deposit some LTC or other cryptocurrencies and then enjoy compound interest earnings. The assets are stored & processed with contemporary security algorithms.
CoinDepo Compound Interest Accounts offer interest rates for Litecoin ranging from 12% to 18% APR plus compound interest. Specific terms depend on the type of account selected. There are six in total for different compounding periods. The longer the period, the higher the interest rate, and the more advantageous the account will be. The service has created 6 account types so that you can make short-term and long-term investments depending on your objectives.
Here is the list with all conditions:
· 12% APR + compound interest daily;
· 12.5% APR + compound interest weekly;
· 14% APR + compound interest monthly;
· 15% APR + compound interest quarterly;
· 16% APR + compound interest every six months;
· 18% APR + compound interest annually.
Such conditions make Compound Interest Accounts quite a good investment, given that regular bank savings accounts offer a maximum interest rate of around 10% p.a., which might be subject to inflation. Notably, you can change your account type anytime if you need to.
How to Set Up a Compound Interest Account?
· Register & Confirm a CoinDepo Account
Before you begin, you must sign up with your email address and password, as required by the service’s intuitive and privacy-friendly registration process. Once you register, confirm your account with a piece of your identity documentation to increase deposit and withdrawal limits. CoinDepo needs it to get in line with the law.
· Deposit LTC to CoinDepo Crypto Wallet
Then, it’s time to add some funds to your Compound Interest Account wallet. It is protected by 2FA, encryption, and other tools meant to maintain transparency and safety of your LTC funds.
· Pick Your Compound Interest Option
CoinDepo allows you to choose from different types of LTC Compound Interest Accounts to match your goals, whether it’s to make a quick profit or earn interest for an entire year.
· Withdraw when Needed
You can withdraw funds from your CoinDepo wallet at any time. CoinDepo doesn’t force you to keep your assets for the whole year.
· Check Your Account Updates
Instead, you can view earnings statistics using the earnings tracking interface developed by CoinDepo. It helps you understand whether to add new amounts or not.
· Check the Blog and Support Service
In addition to the monitoring service, CoinDepo runs a blog where it explores how crypto works, while a support service includes a reachable assistance team, available 24/7. There is also a FAQ section.
Why CoinDepo Accounts?
So, why are the CoinDepo Compound Interest Accounts the most reliable option to earn and store your crypto money? They allow for earning extra funds without constant involvement and knowledge in the field of cryptocurrency or trading. They’re highly protected, as CoinDepo uses high-tech tools similar to that of other crypto services providers.
While LTC is still a volatile currency that can lose value at any time, you will be able to recover some of your lost money if it does. These accounts give you an opportunity to get predicted and guaranteed returns and diversify your income.
