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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. However, this only means that the hardware will cost less. The other hassles of power 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 to you. Most of these services are basically useless and will often consume your apparatus computing power and battery just 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 perfect, 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 out there, the money youd pay them to mine Bitcoin is probably better invested just buying Bitcoin. Obviously 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 that lend their coins for an interest rate. As such loans are ultra risky the interest rates are pretty high that initially looks like a fantastic thing. .

Well, since there's absolutely no actual collateral which retains the debtor liable for the loan more often than not these loans default and lenders are left 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 few days or provide you unreal interest prices.

What these websites really do is take money from new customers and use that money to pay off older users. This process makes a great deal of buzz around the website which seems to be legit and solvent.

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On top of that, they almost always have some sort of referral app 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 website will only go offline and the money will be gone. No longer payments will be produced and a lot of people may get mad that they got scammed.

We've reviewed several Bitcoin investment sites in the previous 3 years and have yet to find a website which we can say is  secure to invest in. Any website that promises you something that's too good to be true is likely just a facade for individuals 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 evaluation 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 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 more. The process for claiming read what he said forked coins (aka forkcoins) is standard however requires an above basic understanding of how 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 might end up losing your Bitcoins. So for most non technical customers it'd better to pass on a fork and maintain your Bitcoins safe. 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 claimed 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 often used to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can employ.

By way of instance, 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 value for some time method you can use to make money from the Bitcoins but they can be SUPER insecure. I'd More Info recommend that you use these methods only after considerable research and a fantastic understanding of the claiming process.

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