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Mining altcoins (e.g. Ethereum mining) is cheaper 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 essentially the same.

Occasionally youll encounter a web site or mobile program that tells you they will mine coins to you. The majority of these services are basically useless and will often consume your devices 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. While this sounds perfect, most of the cloud mining sites today are just pretending to use your money for mining operations, they're in fact scams.

What's more, while there are a few legit sites on the market, the money youd pay 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 own money.

A very common way of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest rate. As such loans are ultra risky the interest rates are pretty high that initially seems like a fantastic thing. .

Well, since there's absolutely no true collateral that holds the debtor liable for the loan more often than not these loans default and lenders are left without their money.

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

Another method I suggest you avoid are coin doublers and higher 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.

These websites really do is take money from new users and use that money to pay off older users. This method creates a great deal of buzz around the website which is apparently untrue and solvent.

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On top of that, they nearly always have some sort of referral app so that users can bring their friends on board.

This is how 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 made and a great deal of people will get angry that they got scammed.

We've reviewed many Bitcoin investment sites in the previous 3 decades and have yet to find a website which we can say is  safe to invest in. Any website that promises you something that's 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 test tool to acquire a reasonable assumption about a sites legitimacy.

Starting around August 2017 Bitcoin look at this site began forking into other coins. In a nutshell, forking  means a new Bitcoin clone emerges from 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 much more. The procedure for claiming forked coins (aka forkcoins) is standard however demands an above basic understanding of how Bitcoin works. You can view our fork claiming guide here.

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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 many non technical customers it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that claim the coins for you personally and have a commission but that could easily turn into a scam that runs away 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 has a market.

Airdrops are similar to forks in the sense that you get coins out of see here thin air. Airdrops are often utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can apply.

By way of example, 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 Homepage would recommend that you use these approaches only after considerable research and a fantastic understanding of the claiming process.