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Like other decentralized cryptocurrencies, Litecoin is not issued by the government, which has historically been the only entity that the public trusts to issue money. Litecoins are created through a complex network procedure called "mining", which processes a list of Litecoin transactions. The Best Litecoin Mining Pools in 2024: Complete List You choose if and when you mine. You're not locked into trying to ROI on expensive hardware or long cloud mining contracts with costly maintenance fees.