So, I have installed one of the recommended wallets - https://bitcoin.org/en/wallets/mobile/android/bitcoinwallet/
But I see no option there for withdrawal, just to send and receive bitcoins. Am I missing something?
I would like to withdraw it to a German bank account if that helps
But I see no option there for withdrawal
Because withdrawal is not the appropriate action, the money is not in a bank account. The money is already in the form of cash - digital cash.
If you want to exchange one currency (BTC) for another (EUR), use a currency exchange.
This is a difficult question to answer. At different points, this question will have different answers. In the bear market that we are currently in, the value of Litecoin has fallen dramatically but the cost of electricity, internet and hardware has not changed. Therefore, it is more challenging to turn a significant profit today than it was a year ago. At the price that Litecoin is currently available at, many would consider it a steal and so buying it now might seem like a good idea.
On the flip side, when Litecoin’s price is high, suddenly the coin you are able to mine at the same cost has a much higher value and seems completely worth doing. At this point, people looking to buy the coin will not be as enthusiastic because the price represents a premium considering the fact that this assumption is made in a bullish landscape for Litecoin.
We must take into account how much we are going to spend on power, internet and hardware as the cost of power varies from place to place. We should also consider how long it will take us to mine the amount we hope to acquire. This cost estimate along with time estimate will help us understand if it is worth mining the coin rather than outright buying it.
