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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 costs, configurations, maintenance and so on are basically exactly the same.

Sometimes youll encounter a website or cellular app that tells you they will mine coins for you. The majority of these services are basically useless and will often consume your devices computing power and battery simply 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 sites nowadays are simply pretending to use your money for mining operations, they're in 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 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 who lend their coins to get an interest rate. Because such loans are ultra risky the interest rates are pretty high which initially seems like a good thing. .

Well, since there's absolutely no true 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 several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.

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

These websites really do is take money from new customers and use that money to pay off old users. This process creates a great deal of buzz around the site that 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 functions. 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 longer payments will be made and a lot of people may get mad that they got scammed.

We've reviewed several Bitcoin investment websites in the past 3 years and have yet to find a site which we can say is  safe to invest in. Any site that promises you something that's 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 website is a scam for yourself Easy, utilize our Bitcoin scam test tool to acquire a fair assumption about a sites legitimacy.

Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone originates in the existing see here now Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin too.

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

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Bear 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'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which claim the coins for you personally and have a commission but this may 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 much like forks in the sense which you get coins out of thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain cases some conditions can employ.

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

To conclude, forks and airdrops could possibly be the maximum significance of time method you can use to make money from your Bitcoins but they can be SUPER insecure. I'd recommend that you utilize these methods only after ample research and a fantastic understanding of the claiming process.