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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. The other hassles of power costs, configurations, maintenance and so on are basically exactly the same.

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Sometimes youll encounter a web site or mobile program that tells you they will mine coins to you. Most of these providers are pretty much useless and will often consume your devices computing power and battery life just to offer you a couple of 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 websites today are simply pretending to use your money for mining operations, they're in fact scams.

Furthermore, while there are a few legit sites on the market, 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 study since in the end, its your money.

A remarkably common way of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins for an interest fee. Because such loans are ultra risky the interest rates are pretty high that initially seems like a fantastic thing. .

Well, since there is no actual collateral which retains the borrower liable for your loan more often than not these loans default and lenders are abandoned without their money.

Weve tested out many loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this particular method.

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

What these websites really do is take money from new users and use that money to pay off old users. This method creates a lot of buzz around the website which is apparently untrue and solvent.

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

This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day the site will only 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 have scammed.

We've reviewed many Bitcoin investment sites in the previous 3 years and have yet to find a website which we can state is  secure to invest in. Any website that guarantees you something that is too good to be true is likely only a facade for individuals trying to steal your coins. .

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How can you find out if a site is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a fair assumption about a sites legitimacy.

Starting around August 2017 Bitcoin began forking into other click to read more coins. In a nutshell, forking  means a new Bitcoin clone emerges from the existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin too.

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

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Bear 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 users it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and have a commission but that may easily turn into a scam that runs off with you money. .

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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.

Airdrops are similar to forks in the sense that you get coins from thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in certain cases some conditions can apply.

By way of instance, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops may be the highest significance go to this site of some time method you can use to make money from your Bitcoins however they can be SUPER risky. I would recommend that you use these approaches only after considerable research and a good understanding of the claiming process.

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