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What is LITECOIN?
Litecoin is a cryptocurrency that was founded in 2011, two years after bitcoin, by a former Google engineer named Charlie Lee. Measured by market capitalization, Litecoin is the ninth-largest cryptocurrency. Initially, it was a strong competitor to bitcoin.
What is LITECOIN Faucet?
LITECOIN faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a Litoshi, which is a hundredth of a millionth LTC, for visitors to claim in exchange for completing a captcha or task as described by the website. There are also faucets that dispense alternative cryptocurrencies.
Rewards are dispensed at various predetermined intervals of time. Faucets usually give fractions of a tron, but the amount will typically fluctuate according to the value of tron. Faucets are a great way to help introduce new people to Litecoin, or to your favourite altcoin.
Many faucets provide information to newbies as well as offering them some free coins so that they can try before they buy, experimenting with a test transaction or two before putting real money on the line. Since this whole area is so new and a bit scary to some people, who perhaps don't quite trust it with their hard earned cash yet, this is a great way to promote digital currency and bring in new users.