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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. The other hassles of electricity expenses, configurations, maintenance and so on are essentially the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds perfect, the majority of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they are in scams.
Furthermore, while there are a couple of 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 your money.
A remarkably popular way of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners who lend their coins for 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 is no actual collateral which holds the borrower liable for your loan more often than not these loans default and lenders are left with no money.
Weve tested out many loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method I suggest you 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 rates.
These sites actually do is take money from new users and use that money to pay off older users. This method makes a great deal of buzz around the site that seems to be untrue and solvent.
What Does Scrypt Coins Do?
On top of this, they almost always have some sort of referral program so that users can bring their friends on board.
This is the way a Ponzi scheme functions. This will go on for around 3-4 months until one day that the site will just go offline and the money is going to be gone. No longer payments will be produced and a great deal of people may get angry that they got scammed.
We have reviewed several Bitcoin investment websites in the previous 3 decades and have yet to find a site which we can say is  safe to invest in. Any site that promises you something that is too good to be true is likely just a facade for scammers 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 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 here emerges in 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 more. The process for claiming forked coins (aka forkcoins) is standard but requires an above fundamental understanding of the way Bitcoin works. You can view our fork claiming guide .
4 Easy Facts About Litecoin Cloud Mining Shown
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'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim 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 see it here much like forks in the sense that you get coins from thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can employ.
By way of 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 value for 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.