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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. Another hassles of power costs, configurations, maintenance and so on are basically the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds ideal, most of the cloud mining websites today are just pretending to use your money for mining operations, they are in fact scams.
What's more, while there are a few legit sites out there, 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 study since in the end, its own money.
A remarkably popular way of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest fee. Because such loans are ultra insecure the interest rates are high that initially looks like a good thing. .
Well, since there is no true collateral which retains 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 all eventually defaulted. Thats why I recommend to stay away from 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 which claim to double your coins every few days or provide you unreal interest rates.
What these sites actually do is take money from new customers and use that money to pay off older 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 this, they nearly always have some sort of referral app so that consumers can bring their friends on board.
This is the way 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 will be gone. No more payments will be made and a great deal of people will get angry that they have scammed.
We have reviewed find out here now several Bitcoin investment websites in the previous 3 years and have yet to find a website that we can state is  safe to invest in. Any site that promises you something that is too good to be true is likely only a facade for scammers trying to steal your coins. .
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How can you find out whether visit this site right here a site is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a fair 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 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 branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The process for claiming forked coins (aka forkcoins) is standard but requires an above fundamental understanding of the find out here now 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 might end up losing your Bitcoins. So for most non technical users it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that assert the coins for you personally and have a commission but that could easily turn into a scam that runs away 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 from thin air. Airdrops are often utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in some situations 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 time method you can use to make money from your Bitcoins but they can be SUPER risky. I'd recommend that you utilize these methods only after considerable research and a good understanding of the claiming process.