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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 power costs, configurations, maintenance and so on are basically exactly the same.

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Sometimes youll encounter a web site or mobile program that tells you they'll mine coins for you. Most of these services are pretty much useless and will usually consume your apparatus computing power and battery just to offer you a few 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 websites today are simply pretending to use your money for mining operations, they are in scams.

What's more, 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. Of course we always urge you to do your own market research since in the end, its your money.

A very popular way of growing your Bitcoin wealth is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest rate. Because such loans are ultra insecure the interest rates are high which initially looks like a fantastic thing. .

Well, since there is no true collateral that holds the borrower liable for your loan more often than not these loans default and lenders are left with no money.

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

Another method it is wise to avoid are coin doublers and higher 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 rates.

These websites actually do is take money from new users and use that money to pay off old users. This process creates a lot of buzz around the site that seems to be legit and solvent.

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On top of this, they nearly always have some kind of referral app so that users here are the findings can bring their friends on board.

This is the way a Ponzi scheme works. 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 may get mad that they got scammed.

We have reviewed many Bitcoin investment sites in the previous 3 years and have yet to find a website that we can say is  secure to invest in. Any website that promises you something that is 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 out if a website is a scam for yourself Easy, utilize our Bitcoin scam test tool to get a reasonable assumption about a sites validity.

Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone emerges from the existing see it here Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin too.

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 however requires an above fundamental understanding of how 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 might end up losing your Bitcoins. So for most non technical users it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that assert the coins for you personally and have a commission but that could 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 which you get coins from thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely to the Your Domain Name general public, although in certain situations some conditions can apply.

By way of instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops may be the maximum significance of time method you can use to make money from the Bitcoins however they can be SUPER risky. I'd recommend that you use these approaches only after ample research and a fantastic understanding of the claiming process.

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