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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 probably cost less. The other hassles of power costs, configurations, maintenance and so on are essentially the same.

Occasionally youll encounter a website or cellular program that tells you they'll mine coins to you. Most of these providers are pretty much useless and will usually consume your apparatus computing power and battery 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, the majority of the cloud mining websites today are simply pretending to use your money for mining operations, they're in scams.

Furthermore, while there are a few legit sites out there, the money youd pay them to mine Bitcoin is likely better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its your money.

A very common way of growing your Bitcoin wealth is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins to get an interest rate. As these 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 holds the debtor liable for the loan more often than not these loans default and lenders are abandoned without their 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 it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites which claim to double your coins every couple of days or provide you unreal interest prices.

What these sites really do is take money from new customers and use that money to pay off old users. This method makes a great deal of buzz around the site that seems to be untrue and solvent.

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

This is how a Ponzi scheme functions. This can go on for around 3-4 months until one day that the site will only go offline and the money is going to be gone. No longer payments will be made and a great deal of people may get mad that they got scammed.

We have reviewed many Bitcoin investment websites Read Full Article in the past 3 years and have yet to find a site that we can state is  safe to more tips here invest in. Any site that promises you something that's 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, use our Bitcoin scam evaluation 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 originates 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 branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure 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 here.

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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you have a peek at this site could end up losing your Bitcoins. So for many non technical users it would 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 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 which you get coins out of 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 cases some conditions can employ.

By way of example, Byteball was distributed publicly 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 Bitcoins but they can be SUPER insecure. I'd recommend that you use these approaches only after considerable research and a good understanding of the claiming process.