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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. But this only means that the hardware will cost less. Another hassles of power costs, configurations, maintenance and so on are essentially exactly the same.

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Sometimes youll encounter a web site or cellular app that tells you they will mine coins to you. The majority of these services are pretty much useless and will often consume your apparatus computing power and battery life just to give you a few cents in return.

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

What's more, while there are a couple of legit sites out there, the money youd cover 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 method 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. Because such loans are ultra insecure the interest rates are pretty high which initially looks like a good thing. .

Well, since there is no actual collateral which holds the borrower liable for your loan more often than not these loans default and lenders are abandoned without their money.

Weve tested out several loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this specific method.

Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every few days or provide you unreal interest rates.

What these websites actually do is take money from new customers and use that money to pay off old users. This method creates a great deal of buzz around the website which seems to be untrue and solvent.

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On top of this, they nearly always have some kind 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 the website will only go offline and the money is going to be gone. No more payments will be made and a lot of people will get angry that they have scammed.

We've reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a website which we can say is  safe to invest in. Any website that guarantees you something that's too good to be true is probably only a facade for individuals trying to steal your coins. .

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How can you find out whether a website is a scam for yourself Easy, use 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 in the existing Bitcoin. Every person who held Bitcoin prior Homepage to 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 process for claiming forked coins (aka forkcoins) is standard but demands an above fundamental understanding of how Bitcoin works. You can see our fork claiming guide here.

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Bear in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for most non technical customers it would 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 that 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 alternative cryptocurrencies assuming it has a market.

Airdrops are much like forks in the sense that you get coins from thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can apply.

By way of instance, 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 visit site value for some time method you can use to make money from the Bitcoins however they can be SUPER risky. I'd recommend that you utilize these approaches only after considerable research and a fantastic understanding of the claiming process.

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