Litecoin remains one of the most widely used cryptocurrencies in the world, so many people still build complex hardware setups to mine it for profit. However, you don’t even need to buy hardware now: all you need is a reliable online platform that allows users to borrow computational power in exchange for a fraction of profits. There are actually many such platforms for mining LTC, but you should be careful when choosing the best one. To help you out, we’ve compiled a list of the best online mining services.
How online mining works
Just like Bitcoin, Litecoin uses the Proof-of-Work consensus mechanism that requires investing much computational power to add new blocks to the blockchain. You can use your own computer to perform all the necessary calculations, but you can also use someone else’s computer or several computers to do that. There are many online mining services out there, and their greatest advantage is that you can start mining without investing large sums of money at once, and this kind of mining is very scalable.
While the majority of online mining platforms focus on Bitcoin mining, there are reputable websites for LTC mining, too. Let’s take a look at the best Litecoin mining sites out there.
ECOS is a popular and convenient mining service that allows you to earn LTC through an easy mobile app. The minimum investment is $150 here, but there is a free mining contract for a month.
StormGain is another popular mining software that allows you to monitor prices in real time and adjust your power usage accordingly. It has a secure wallet and a variety of payment options. The minimum deposit is $100.
ByteBus is a very popular mining service with a friendly 24/7 customer support, a variety of plans, and a low entry threshold: you need just $10 to start mining on the platform. All in all, it’s a great choice for starters.
One of the oldest mining services, Genesis Mining is used by more than 200,000 people from all over the world. The minimum investment is $500, but you can get daily payouts directly to your wallet.
Bitdeer is an international company offering cloud mining contracts in more than 200 countries. There are real-time price charts here and a convenient calculator that can help you maximize your profits in the long term. However, the minimum deposit is pretty high: $542.