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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. However, this only means that the hardware will cost less. The other hassles of electricity expenses, configurations, maintenance and so on are essentially the same.

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Occasionally youll encounter a website or cellular program that tells you they will mine coins to you. Most of these providers are basically useless and will usually consume your apparatus computing power and battery just to offer you a couple of cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds perfect, the majority of the cloud mining sites today are simply pretending to use your money for mining operations, they are in fact scams.

What's more, while there are a couple of legit sites on the market, the money youd pay 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 very common way of growing your Bitcoin riches is via Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest fee. Because such loans are ultra insecure the interest rates are pretty high that initially looks like a fantastic thing. .

Well, since there is no actual collateral that holds the debtor liable for the loan more often than not these loans default and lenders are abandoned with no money.

Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.

Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every couple of days or provide you unreal interest prices.

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

This is the way a Ponzi scheme works. This will go on for around 3-4 months until one day that the website will just go offline and the money will be gone. No longer payments will be made and a great deal of people will get mad that they got scammed.

We've reviewed several Bitcoin investment websites in the past 3 decades and have yet to find a site which we can say is  secure to invest in. Any site that promises you something that is 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 if a site is a scam for yourself Easy, use 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 originates in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin as well.

The first popular branch was Bitcoin Cash, from this source but soon have a peek at these guys 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 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 might end up losing your Bitcoins. So for many 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 and have a commission but this may easily turn into a scam that 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 has a market.

Airdrops are similar to forks in the sense which you get coins from thin air. Airdrops are often utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in certain cases some conditions can apply.

For example, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops could possibly be the highest value for time method you can use to make money from the Bitcoins however they can be SUPER insecure. I'd recommend that you utilize these site link approaches only after considerable research and a fantastic understanding of the claiming process.

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