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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 probably cost less. Another hassles of power expenses, configurations, maintenance and so on are basically the same.

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Occasionally youll encounter a website or cellular program that tells you they will mine coins to you. The majority of these providers are basically useless and will usually consume your devices computing power and battery life 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 ideal, the majority of the cloud mining sites nowadays are just pretending to use your money for mining operations, they are in scams.

What's more, while there are a few legit sites out there, the money youd cover 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 own money.

A very common method of growing your Bitcoin riches 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 high which initially looks like a good thing. .

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

Weve tested out many loans 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 High Yield Investment Programs also known as HYIPs. These are websites that claim to double your coins every couple of days or give you unreal interest prices.

These websites really do is take money from new customers and use that money to pay off older users. This method creates a great deal of buzz around the site that is apparently legit and solvent.

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

This is the way a This Site Ponzi scheme functions. This can go on for around 3-4 months until one day the site will just go offline and the money will be gone. No longer payments will be produced and a great deal of people will get mad that they have scammed.

We have reviewed several Bitcoin investment sites in the previous 3 decades and have yet to find a site that we can state is  secure to invest in. Any site that promises you something that's 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 see this website out if a site 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 from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin as well.

The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The process for claiming forked coins (aka forkcoins) is standard but requires an above fundamental 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 could end up losing your Bitcoins. So for many non technical users it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that assert the coins for you and take a commission but that could 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 look here market.

Airdrops are much like 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 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 may be the maximum value for time method you can use to create money from your Bitcoins but they can be SUPER risky. I would recommend that you utilize these methods only after considerable research and a fantastic understanding of the claiming process.

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