What is Mithril? It’s apparently one of the newer cryptocurrency (altcoin) in the market that is currently in the top 100 of Coinmarketcap.
At the time of writing, Mithril is listed as number 75 as far as market cap is concerned.
Where did this new altcoin come from?
How do you mine Mithril?
Mithril is not like Bitcoin. You don’t run a mining rig to earn more Mithril.
It’s more similar towards incentivized social networks, e.g. Steemit, ONO, Sola and so on.
It seems to be the trend these days to have a platform that rewards content creators, and I absolutely love the idea.
For the longest time, social networks have been making huge profits off users. People like you and me don’t normally make money on Facebook or social networks.
This will change it all. It brings money back to regular users, i.e. content creators of all forms.
I’ve been making money on Steemit for about a year and I hope more platforms follow suit.
So back to the question. What is Mithril and how do you earn or mine it?
Download the Lit App
Lit is the mobile app that you use to earn more Mithril tokens. It’s quite similar to Snapchat and Instagram stories if you ask me.
I downloaded the Lit app from Google Play Store yesterday and tried it. There aren’t many users on the platform yet, so invite your friends to try it too.
On your feed, you will be able to see stories from your friends and your friends of friends. You should follow some people to see more stories on the feed.
You can also use the ‘Discover’ section to see featured users or search for your friend’s username. These featured users are the more popular users, including the founder.
When you click on them, you can see their ‘Stories’ like in Snapchat. If you click the ‘Heart’ or ‘Like’ button, you’re essentially liking their story and they earn Mithril tokens.
I received one ‘like’ yesterday and the approximate earning is 0.002 Mithril. I’m not sure if it’s a fixed amount each time.
Based on the popup message, the actual number of rewards may change. The stories only last 24 hours.
I have to experiment further to know better how this platform works.
You can also send messages directly to any user you like.
How much is Mithril worth?
At the time of writing, Mithril is worth about $0.75.
It has gone down in value a little bit recently, probably due to people cashing out and the entire cryptocurrency market dropping.
The total supply will be 1 billion tokens in the future.
Do check out the Lit app to earn Mith tokens
You can probably download on both iOS or Android. I personally used Android for the app.
Start gaining more followers to earn more tokens. Who knows? It might be something big next time.
Do remember to follow me on Lit with my username @alvinlau.
Disclaimer: All opinions and views that are expressed here are purely individual opinions. None of the articles are to be construed as giving financial or investment advice of any sort whatsoever.