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

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Occasionally youll encounter a website or mobile program that tells you they will mine coins for you. The majority of these providers are basically useless and will often consume your apparatus computing power and battery just to give you a couple of cents in return.

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

Furthermore, while there are a few legit sites on the market, the money youd cover them to mine Bitcoin is probably better invested just buying Bitcoin. Of course we always urge you to do your own market study since in the end, its own money.

A very popular method of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest rate. Because such loans are ultra risky the interest rates are high that initially looks like a good thing. .

Well, since there's absolutely no actual collateral which holds the debtor liable for the loan more often than not these loans default and lenders are left with no money.

Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this specific method.

Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every couple of days or provide you unreal interest rates.

These sites really do is take money from new users and use that money to pay off older users. This process creates a lot of buzz around the site that is apparently untrue and solvent.

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

This is the way 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 will be gone. No more payments will be made and a great deal of people will get angry that they got scammed.

We've reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a site that we can say is  safe to invest in. Any website that promises you something that is too good to be true is likely 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, use our Bitcoin scam test tool to acquire a reasonable assumption about a websites validity.

Starting around August 2017 Bitcoin began forking into other site here coins. In a nutshell, forking  means a new Bitcoin clone originates from the existing Bitcoin. Every person who held Bitcoin before the fork can now 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 might end up losing your Bitcoins. So for many non technical customers it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that claim the coins for you and take a commission but that may easily turn into a scam which 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 has 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, although in some cases some conditions can apply.

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 however they can be visite site SUPER insecure. I'd recommend that you use these approaches only after considerable research and a fantastic understanding of the claiming process.

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