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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 probably cost less. Another hassles of power costs, configurations, maintenance and so on are basically exactly the same.
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 sites nowadays are just pretending to use your money for mining operations, they're in fact scams.
Furthermore, while there are a few legit sites out there, 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 very common way of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest fee. As such loans are ultra risky the interest rates are pretty high which initially seems like a fantastic thing. .
Well, since there's absolutely no true collateral which holds the debtor liable for your loan more often than not these loans default and lenders are abandoned without their money.
Weve tested out several loans here 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 sites which claim to double your coins every few days or give you unreal interest prices.
These sites really do is take money from new users and use that money to pay off older users. This method makes 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 sort of referral program so that have a peek at this site 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 the site will only go offline and the money will be gone. No more payments will be produced and a lot of people may get mad that they have scammed.
We have reviewed many Bitcoin investment websites in the past 3 years and have yet to find a website which we can state is  safe to invest in. Any site that promises you something that is 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 website is a scam to get yourself Easy, use our Bitcoin scam test tool to acquire a fair assumption about a websites 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 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 process for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of the way Bitcoin works. You can view our fork claiming guide .
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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many non technical customers it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that assert the coins for you and take a commission but that could easily turn into a scam which runs off with you money. .
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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.
Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in certain situations some conditions can apply.
By way of example, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the maximum significance of time method you can use to make money from your Bitcoins however they can be SUPER insecure. I'd recommend that visit this web-site you use these methods more helpful hints only after considerable research and a fantastic understanding of the claiming process.