How Spin and Win free Litecoin and free Bitcoin Works

Our spin and win litecoin and bitcoin are easy games you can play at your leisure time. The platform was actually created with you in mind. The original intention was to create a way you can interact with cryptocurrency and also use our trading platform at no direct cost on you. How then can you play this interesting game? Let’s quickly jump into it.

Please, click here should you want to know more about Litecoin and Bitcoin.

How to Play Spin and Win Game on Sleekarena

1. Create a free account here and ensure you verify your email address. That is only when wallet addresses will be generated on your account to receive or send your digital coins. You will surely need these wallet addresses for subsequent transactions or trading.

2. Click on either Free Bitcoin or Free Litoshi when you are logged in. This will take you to the spin and win page.

There is a challenge you have to scale through before getting to spin and win page. It is to prompt you to consent to the advert display on the page through which we get the revenue that will be shared with you when you win.

NOTE: If we detect that you have blocked adverts or they are not able to show up in your web browser, then we might prevent you from trading or withdrawing coin even when the coins are credited to your account.

If any of the adverts are not showing then there must be something blocking them on your browser/device. This could be an ad-blocking browser plugin or extension. If so, ensure you disable ad-blocking browser plugin/software or add the page to the exception list. Then, ensure you do not access the spin and win game page with another account from the same IP address. This is not allowed.

3. Click on the icon at the middle of spin and win wheel to roll the lucky wheel. You win the number of either litoshi or satoshi against the top arrow where the wheel stops. You also get a popup notification confirming the value you won. This amount of litoshi or satoshi is added automatically to your coins balance. Scroll to the bottom of the page to get coins balance. You need to refresh the page in order to see updated balance.

To play again, you have to wait for an hour. You might smartly go to the other spin and win page to play another round.

4. Once the coins you win are in your account, you have two formidable options.

a. You can either withdraw to external wallet when you have minimum balance of 0.02 LTC or 0.001 BTC.
b. You can sell it on Sleekarena trading platform. All you need to do is create a sell advert. You can set the price you want to sell, the currency, payment method, to trade litecoin

You might choose to sell your coins to traders who have created sell adverts. All you need to do is open trade request by clicking on the sell button on an advert and then flow through the process. This way, you can quickly convert the coins you won to cash instead of withdrawing to external wallet that comes with blockchain fee that cuts across board.adverts

So, the best way to maximize return on the satoshi or litoshi won is to convert it to cash by trading with it on Sleekarena or hoard (keep) it until price reaches a pre-determined level.

But note, what you win on this spin wheel game is so merger that it will not make you rich. Quote me, “no play and win free cryptocurrency game can really make you rich”.

Like I said earlier, the game was created for you to find a way to test, interact and get acquainted with the trading platform and  blockchain technology. And of course, find a way to fill up your idle time with productive activities such as this while you have fun in-between.

But hey, no matter how little the value of what is won, it can still pay some small bills you know. It depends on how consistent you are in playing to accumulate much. It can really pay off later.

Click here to start playing spin and win cryptocurrency today!

What is Litecoin

Litecoin is another cryptocurrency that is similar to bitcoin in every regards and the transaction is base on peer-to-peer. Digital currencies are created and transferred using an open source cryptographic protocol and are not managed by any central authority. And that is why there is no governmental interference apart from systemic regulations that build trust for adoption.

Litecoin has the capability of handling a greater number of transactions in a given time and thus reducing potential bottlenecks, as seen with Bitcoin. Also, payment cost of Litecoin is nearly zero and its payment speed is approximately four times faster than Bitcoin. Thanks to the adoption of Segregated Witness, and the Lightning Network that made Litecoin has this technical advantage over Bitcoin and other major cryptocurrencies.

Litecoin was created and released by Charlie Lee, (a former Google employee) via an open-source client on GitHub on October 7, 2011. The Litecoin network actually went live on October 13, 2011. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm script, instead of SHA-256, and a slightly modified GUI.

During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours. Litecoin then reached a $1 billion market capitalization in November 2013. What an amazing growth!

How Litecoin Is Made?
Like any other cryptocurrencies, Litecoin is not a government issued digital currency, which historically has been the only entity that society trusts to issue money. Instead of being regulated by a Federal Reserve and coming off a press at the Bureau of Engraving and Printing, Litecoins’ are created by an elaborate procedure called mining, which consists of processing a list of Litecoin transactions. Unlike traditional currencies, the supply of Litecoin is fixed.

There will ultimately be only 84 million Litecoins in circulation and not one more. Every 2.5 minutes (as opposed to 10 minutes for bitcoin), the Litecoin network generates, what is called a block — a ledger entry of recent Litecoin transactions throughout the world. And here is where Litecoin inherent value derives.

Mining for Litecoin?
The incentive for mining is that the first miner to successfully verify a block is rewarded with 50 Litecoins. The number of Litecoins awarded for such a task reduces with time. In October of 2015 it WAS halved, and the halving will continue at regular intervals until the 84,000,000th Litecoin is mined.

But could one unscrupulous miner change the block, enabling the same Litecoins to be spent twice?
No. The scam would be detected immediately by some other miner, anonymous to the first. The only way to truly game the system would be to get a majority of miners to agree to process the false transaction, which is practically impossible.

Storing your litecoin?
If you want to buy Litecoin or you already have some Litecoins, you have to find some safe place where you will put it. You have a lot of option’s really.

It depends on your idea of what you want to do with your Litecoin. Most common option is putting your Litecoin into a software wallet. This option is relatively safe but not very practical. Second most common variant is to put your Litecoin in to some cryptocurrency stock, where your Litecoin is not secured as it would be in a software wallet. But, you have more options on what you can do with your Litecoin. You can sell your Litecoin. You can buy more Litecoin. You can exchange your Litecoin. Or better still, you can lend your Litecoin and make some profit from them. It all depends on you.

The newest way to storing your Litecoin, is to put your Litecoin into a hardware wallet. Be careful, because there are significant differences between a hardware and software wallets. In a hardware wallet, your Litecoin is absolutely safe. No one can steal your Litecoin unless you lost your hardware wallet.

Hardware wallets are technologically similar to a flash drive. If you damage or destroy this hardware wallet you will lose all of your Litecoin. Be careful as this option is not practically reversible. If your main concern is to gain more Litecoin, we recommend you store it on your Sleekarena account because you will earn more as you trade or spin to win. But it only depends on what type of option is best for you.

Difference between litcoin and bitcoin
Litecoin transaction fees are mere cents compared to bitcoin transaction fee that can cost dollars. Litecoin has a faster network. Transactions are much faster than they are in the bitcoin network. An Average Litecoin transaction takes 2 minutes. An average bitcoin transaction can take 10 minutes on a good day and more when the network is congested.

Total amount of bitcoin is 21 million coins while litecoin has 84 million coins. Litecoin also uses a different algorithm. Bitcoin uses bitcoin’s SHA-256, but litecoin uses litecoin’s Script.

What is Bitcoin – Click Here to Download our eBook on Bitcoin for Beginners