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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. But this only means that the hardware will cost less. Another hassles of electricity expenses, configurations, maintenance and so on are basically the same.

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Sometimes youll encounter a web site or cellular app that tells you they'll mine coins for you. The majority of these services are basically useless and will often consume your apparatus computing power and battery simply to give 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, most of the cloud mining websites nowadays are just 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 cover 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 riches is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest fee. Because these 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 your loan more often than not these loans default and lenders are left with no money.

Weve tested out many loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from 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 promise to double your coins every couple of days or give you unreal interest rates.

What these websites actually do is take money from new customers and use that money to pay off old 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 nearly always have some kind of referral app 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 will be gone. No longer payments will be produced and a great deal of people may get angry that they got scammed.

We've reviewed many Bitcoin investment websites in the past 3 years and have yet to find a website that we can say is  safe to invest in. Any site that guarantees you something that is 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 to get yourself Easy, use our Bitcoin scam evaluation tool to get a fair assumption about a sites validity.

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 claim the new coin too.

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

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Keep 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 check my source it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which assert the coins for you and take a commission but that may 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 from thin air. web link Airdrops are usually utilized 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.

For 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 of time method you can use to make money from the Bitcoins but they can be SUPER insecure. I would recommend that you use these methods only after considerable research and a good understanding of the claiming process.

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