Is mining Litecoin more profitable than mining bitcoin?

While mining Litecoin is certainly more profitable than mining Bitcoin if you’re a beginner, the two assets do have some similarities. For one, both serve as a digital form of money. They also operate on proof-of-work blockchain networks – Litecoin is a fork of Bitcoin’s blockchain network. That said, the similarities stop there.

How to mine Litecoin?

A mined block released 25 Litecoin. If you don’t have access to a powerful PC or mining hardware, you can always cloud mine Litecoin. To do so, you’ll want to search for a cloud mining company that supports Litecoin. Examples of such companies include but are not limited to IQMining and BestCloudMining.

What is Litecoin (LTC)?

What Is Litecoin (LTC)? Litecoin (LTC) is a cryptocurrency created from a fork in the Bitcoin blockchain in 2011. It was initially designed to address the developer's concerns that Bitcoin was becoming too centrally controlled, and to make it more difficult for largescale mining firms to gain the upper hand in mining.

What is “mining” in Bitcoin?

Mining is used as a metaphor for introducing new bitcoins into the system, since it requires (computational) work just as mining for gold or silver requires (physical) effort. Of course, the tokens that miners find are virtual and exist only within the digital ledger of the Bitcoin blockchain.