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What is Litecoin?
Litecoin (LTC) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Inspired by and technically nearly identical to Bitcoin (BTC), Litecoin creation and transfer is based on an open source protocol and is not managed by any central authority. Litecoin is intended by its developers to improve upon Bitcoin, offering several key differences. As of November 2013, Litecoin had received extended coverage by mainstream media with agencies such as the Wall Street Journal, CNBC and The New York Times citing it as an alternative (or possibly even successor) to Bitcoin.
A Bit of Mystery with Bitcoin Faucets
For the uninitiated the word “crypto-currency” looks very mysterious and sapient. Really, doesn’t the notion – digital currency, the emission and accounting of which are based on the asymmetric coding – sound like a curse? At one time the famous fantasy author Arthur Clark wrote that the highly developed technology would be hard to differ from magic. But if you dip a bit, everything becomes more comprehensive, still, the sense of participation in informational wonders remains.
When we receive more knowledge about the first digital currency Bitcoin and about the possibilities it opens, we want to get some amount of these coins in our account at once. A bit earlier, at the beginning of the digital money epoch, it was profitable to be engaged in crypto-currency mining – providing the powers of your computer for the needs of the Bitcoin calculating network. But since that time the difficulty of such mining has increased greatly and it is impossible to be engaged in this using your PC, even upgraded one.
The only way to get some free Bitcoins without serious financial expenses is visiting the pages with the so called faucets. On these websites, you can receive a certain amount of Satoshi (1 Satoshi = 0.00000001 BTC), fulfilling the simple actions before that. The only condition of these resources is the existence of the personal Bitcoin wallet (which is easy to create, if you have Google as an assistant).
The typical order of actions on such websites is the following: entered a page, logged in, typed the address of your Bitcoin wallet, waited several minutes, typed a captcha to prove you are human being, took the reward by clicking the button. Since the payments are not big on faucet websites (usually several thousands of Satoshi), they are first transacted to the micropayment service Faucetbox. Here they are collected, and after a day or several days you can take the whole sum.
The websites of this type are really numerous at the network and it won’t take long to find them via Google. For the totally lazy users, there exist the specific lists of faucets. They all receive earnings from ads, placed on their pages, especially for the number of clicks per thousand views, so if you want, you can thank the resource by clicking ads. As a matter of fact, if the website gets bigger income, it can offer more generous rewards for you.
Among Bitcoin faucets separately stand those that offer crypto-currency reward for reaching a particular level, completed mission or fulfilling other game task. Usually, these are not big amounts in Satoshi (1 satoshi = 0.00000001 ฿), which can still be increased with the help of referral programs.
To understand the rules of such game types is not hard, the main point of such games is the following: you receive a certain task before you start playing, after you complete the task, you receive a reward. You can collect your funds by repeating your actions and withdraw your earnings to the Bitcoin faucets, or you can spend your money in the game, by improving the game buildings or equipment.
This is evident that to reach a certain level of profitability, one must spend some time in the game, gradually improving the available functionality, or invest some amount at once to reach higher earnings from the start. Usually, the interface of such games is simple and not overloaded with excessive details, everything is understandable on an intuitive level.
So, as we can see, there is a much better alternative to the trivial clicking and mechanic captcha typing on the traditional Bitcoin faucets, still, the aim of all faucets of all types is always the same – help users to receive free Bitcoins. The faucet websites themselves receive income from the demonstration of various ads, you have to remember about it and switch the ad blockers, if you use ones.
To receive free Bitcoins, you have to make three easy steps:
Step 1. Pass an easy registration
Step 2. Study closely the game rules
Step 3. Play and receive reward
If you’ve made everything right, enjoy the game process. And of course you should remember about money reward for patience and persistence.
Coincheck Goes Outside of Japan
Bitcoin companies have always been oriented on the expanding their presence abroad, since it gives a possibility to spread digital currencies among bigger audience. Coincheck, the biggest Japanese crypto-currency platform, which recently started to trade Ethereum, also expands its activity outside the country borders. Now one doesn’t need to be in Japan to trade pairs BTC/JPY and ETH/JPY, for that you just have to possess a credit card Coincheck to fulfill an international bank transaction.
The number of digital currency platforms has increased sufficiently during the last few years, however, very few dare to trade against the Japanese Yen. More specifically, it was almost impossible for the Japan non-citizens, but the circumstances changed with time.
The rise of interest in digital currencies in the country happened because of recent law changes. The Japanese government adopted several regulations on modernization of payment sphere and admitted Bitcoin as “useful currency”. This heightened the interest to Bitcoin and to Ethereum as well, which recently has become available for trading on Coincheck.
The most interesting is that the rate of BTC/JPY is usually higher than on other trading platforms. That’s why Coincheck strives to attract international traders, shilling them with the possibility to earn by experimenting with these fields. Those who don’t have a possibility to make transactions in Yens, should not be disappointed, since all transfers in USD are automatically converted into JPY as soon as they come to the Coincheck account. Any commission isn’t taken for that, which is an additional bonus.
Right now Coincheck launched a promo campaign, according to which the commission for trading operations is 0% in the period up to April, 14. This relates both to Bitcoin and Ethereum and is aimed at attracting clients all over the world. Besides this, the platform offers other services as well, such as, for instance, taking a credit for buying crypto-currency.
Free Bitcoins and “Plumbing”
“Get free Bitcoin”, “faucet”, “crypto-currency” – what can be common in this chaotic, for the outsider’s eye, rabble? Those who had a chance to hear about Bitcoin will wonder why plumbing equipment is mentioned in this row. But all the mentioned about makes sense and is used in one context, these are the phrases from the jargon of the hunters for digital treasures.
Crypto-currency is the network money, which doesn’t exist physically. Prefix crypto- shows the high level of its security from the theft attempts. The first crypto-currency has been Bitcoin, and it still takes the leading positions. With time other crypto-currencies appeared, the most famous are Litecoin, Dash, and a newcomer that abruptly entered the high crypto-currency league – Ethereum.
You can receive Bitcoin in several ways: from the most trivial – buy it for traditional money on one of the multiple exchange platforms, to the technically complicated and expensive way – mining, which consists in providing complicated math calculations for the confirmation of the crypto-currency transactions validity.
But how can those who do not have funds gather any virtual money? Get Bitcoin for free! And how can one do that? Here the “plumbing” will help – the mentioned above faucets. Faucets are websites that distribute crypto-currency for free, only for the reason that you visited the website. But why such a name – faucets? The point is that these websites distribute Bitcoin in very small parts and periodically, so it comes out that money fall, like water drops from the faucet.
We have to visit the faucet, enter the address of our Bitcoin wallet (if you don’t have one, hurry up to create), wait for access and click somewhere to take our reward. The size of this reward is not quite big, but it’s not a problem, because you can visit this website many times, and there are hundreds of faucets in the network. If you take referrals in addition, you can earn quite a bit.
So if you arm yourself with patience and start an uneasy work of network treasure hunter, your lexis will soon be enlarged with the words, strange to outsiders.