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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 electricity expenses, configurations, maintenance and so on are essentially the same.

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Occasionally youll encounter a web site or mobile program that tells you they'll mine coins for you. Most of these providers are pretty much useless and will often consume your apparatus computing power and battery simply to give 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 perfect, most of the cloud mining sites today are just pretending to use your money for mining operations, they're in scams.

Furthermore, while there are a couple of legit sites on the market, the money youd pay 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 way of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest rate. Because such loans are ultra insecure the interest rates are high that initially looks like a good thing. .

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

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

Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every few days or provide you unreal interest prices.

These sites actually do is take money from new users and use that money to pay off old users. This process creates a lot of buzz around the learn the facts here now site that seems to be legit and solvent.

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On top of that, they nearly always have some sort of referral program so that users 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 the website will just go offline and the money is going to be gone. No more payments will be made and a lot of people will get mad that they got scammed.

We have reviewed many Bitcoin investment sites in the previous 3 decades and have yet to find a site which we can state is  safe to invest in. Any site that promises you something that is like it too good to be true is probably only a facade for individuals trying to steal your coins. .

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How can you find out if a website is a scam to get yourself Easy, utilize our Bitcoin scam test tool to get a reasonable assumption about a websites legitimacy.

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

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 demands an above basic understanding of the way Bitcoin works. You can see 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 users it'd better to pass Cloud Mining Free on a fork and keep your Bitcoins safe. Other alternatives include companies that assert the coins for you personally and take a commission but this could easily turn into a scam which 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 much like forks in the sense that you get coins out of thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some situations some conditions can apply.

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

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

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