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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. The other hassles of electricity expenses, configurations, maintenance and so on are basically the same.

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Occasionally youll encounter a web site or cellular app that tells you they will mine coins for you. Most of these services are pretty much useless and will often consume your devices 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, most of the cloud mining websites nowadays are just pretending to use your money for mining operations, they are in fact 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. Of course we always urge you to do your own market research since in the end, its own money.

A very popular way of growing your Bitcoin riches is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest fee. Because these loans are ultra risky the interest rates are pretty high that initially looks like a fantastic thing. .

Well, since there is no true collateral which retains the debtor liable for the loan more often than not these loans default and lenders are left 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 particular method.

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

What these sites really do is take money from new users and use that money to pay off older users. This process makes a great deal of buzz around the website which is apparently legit and solvent.

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On top of that, they almost 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 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 angry that they got scammed.

We've reviewed several Bitcoin investment websites 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 probably only a facade for scammers trying to steal your coins. .

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How can you find out if a site is a scam for yourself Easy, utilize 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 emerges from the existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin too.

The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard but demands an above basic understanding of how Bitcoin works. You can view our fork claiming guide .

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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'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and take a commission but this could view publisher site 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 much like forks in the sense that you get coins from thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some 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 maximum value for some time method you can use to create money from your Bitcoins but they can be SUPER insecure. I'd recommend that you utilize these approaches only after ample research and a browse around here fantastic understanding of the claiming process.

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