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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. Another hassles of power costs, configurations, maintenance and so on are essentially 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 pretty much useless and will usually consume your apparatus computing power and battery life simply 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 ideal, most of the cloud mining websites today are just pretending to use your money for mining operations, they're in fact scams.

Furthermore, while there are a few legit sites on the market, the money youd cover them to mine Bitcoin is likely better invested just buying Bitcoin. Obviously 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 wealth is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest rate. Because such loans are ultra insecure the interest rates are high which initially looks like a good thing. .

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

Weve tested out many loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this specific method.

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

These websites actually 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 nearly always have some sort 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 website will only go offline and the money will be gone. No more payments will be produced and a lot of people may get mad that they have scammed.

We've reviewed several Bitcoin investment websites in the past 3 decades and have yet to find a site that we can say is  safe to invest in. Any website that guarantees you something that is too good to be true is probably 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 to get yourself Easy, utilize our Bitcoin scam test tool to acquire 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 before her response 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 more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of the way Bitcoin works. You can see our fork claiming guide you could try these out 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 would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and have a commission but this may 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 alternative 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 about a certain cryptocurrency. useful source The currency is distributed freely to the public, although in certain situations some conditions can apply.

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

To conclude, forks and airdrops could possibly be the maximum significance of some time method you can use to create money from the Bitcoins however they can be SUPER insecure. I would advise you to use these approaches only after considerable research and a good understanding of the claiming process.

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