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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 electricity expenses, configurations, maintenance and so on are essentially the same.

Sometimes youll encounter a website or mobile app that tells you they'll mine coins to you. Most of these providers are basically useless and will usually consume your apparatus computing power and battery life simply 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, most of the cloud mining websites nowadays are just pretending to use your money for mining operations, they're in scams.

What's more, while there are a few legit sites on the market, 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 method of growing your Bitcoin riches is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest rate. Because these loans are ultra insecure the interest rates are high that initially seems like a fantastic thing. .

Well, since there's absolutely no actual collateral which holds the borrower 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 all eventually defaulted. Thats why I recommend to steer clear of this specific method.

Another method it is wise to 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 provide you unreal interest rates.

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

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On top of that, they nearly always have some kind of referral program More about the author so that consumers 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 website will only go offline and the money will be gone. No more payments will be produced and a lot of people will get angry that they have scammed.

We have reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a site that we can state is  secure to invest in. Any site that guarantees you something that's too good to be true is likely only a facade for individuals trying to steal your coins. .

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How can you find out whether a website is a scam to get yourself Easy, utilize our Bitcoin scam test tool to get 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 emerges from the existing Bitcoin. Every person who held Bitcoin before 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 click for more info Diamond and much more. The process for claiming forked coins (aka forkcoins) is standard but requires 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 most non technical users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that assert the coins for you personally and take a commission but this may 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 alternative cryptocurrencies assuming it's a market.

Airdrops are similar to 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 certain situations some conditions can employ.

For 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 some time method you can use to create money from your you can try this out Bitcoins but they can be SUPER risky. I would recommend that you utilize these approaches only after considerable research and a good understanding of the claiming process.