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Mining altcoins (e.g. Ethereum mining) is more affordable 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 the same.

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Sometimes youll encounter a web site or cellular app that tells you they'll mine coins to you. Most of these providers are pretty much useless and will usually consume your apparatus computing power and battery just to offer you a couple of cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds perfect, the majority of the cloud mining sites nowadays are just pretending to use your money for mining operations, they're in scams.

Furthermore, while there are a couple of legit sites out there, the money youd pay them to mine Bitcoin is likely 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 way of growing your Bitcoin riches is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest fee. As these loans are ultra risky the interest rates are high which initially looks like a fantastic thing. .

Well, since there is no actual collateral which holds the debtor liable for the loan more often than not these loans default and lenders are abandoned with no money.

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

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

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

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

This is how a Ponzi scheme works. 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 produced and a lot of people here are the findings may get mad that they got scammed.

We've reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a site 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 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 in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin too.

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 fundamental understanding of the way Bitcoin works. You can see our fork claiming guide .

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Bear in mind that if youre not sure what youre doing when claiming a forkcoin you could end YOURURL.com up losing your Bitcoins. So for many non technical customers 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 this may easily turn into a scam which runs away 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 that you get coins from 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 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 highest significance of some time method you can use to make money from your Bitcoins her comment is here however they can be SUPER insecure. I would recommend that you use these methods only after ample research and a good understanding of the claiming process.

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