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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. But this only means that the hardware will probably cost less. Another hassles of power expenses, configurations, maintenance and so on are basically the same.

Occasionally youll encounter a website or mobile program that tells you they'll mine coins to you. Most of these services are basically useless and will usually consume your apparatus computing power and battery simply to offer you a few cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds ideal, the majority of the cloud mining sites nowadays are simply pretending to use your money for mining operations, they are in fact scams.

What's more, while there are a few legit sites out there, the money youd pay them to mine Bitcoin is likely better invested just buying Bitcoin. Of course we always urge you to do your own market research since in the end, its your money.

A remarkably popular method of growing your Bitcoin riches is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest rate. As such loans are ultra insecure the interest rates are high which initially seems like a good thing. .

Well, since there's absolutely no true collateral which retains the debtor liable for your loan more often than not these loans default and lenders are abandoned without their money.

Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this specific method.

Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every couple of days or provide you unreal interest rates.

What these sites actually do is take money from new users and use that money to pay off older users. This method creates a lot of buzz around the website which seems to be untrue and solvent.

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On top of that, they nearly always have some sort of referral app so that consumers can bring their friends on board.

This is how a Ponzi scheme works. This will go on for around 3-4 months until one day that the site will just go offline and the money is going to be gone. No more payments will be produced and a great deal of people will get angry that they got scammed.

We've reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a site which we can state is  safe to invest in. Any website that promises you something that's too good to be true is probably only a facade for scammers trying to steal your coins. .

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How can you find out whether a site is a scam for yourself Easy, utilize our Bitcoin scam evaluation learn this here now tool to acquire a fair assumption about a sites validity.

Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone originates from the special info existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin as well.

The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of how Bitcoin works. You can see our fork claiming guide .

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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many non technical customers it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which claim the coins for you and have a commission but that could easily turn into a scam that runs off with you money. .

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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.

Airdrops are similar to forks in the sense which you get coins out of thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, try this website although in some cases some conditions can employ.

For instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops may be the highest significance of time method you can use to create money from the Bitcoins but they can be SUPER risky. I'd advise you to use these approaches only after ample research and a good understanding of the claiming process.