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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. The other hassles of electricity costs, configurations, maintenance and so on are essentially exactly the same.
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 websites today are just 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 likely better invested just buying Bitcoin. Obviously we always urge you to do your own market study since in the end, its your money.
A remarkably popular way of growing your Bitcoin riches is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins for 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 actual collateral that holds the debtor liable for the loan more often than not these loans default and lenders are left with no money.
Weve tested out many loans 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 High Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every few days or give you unreal interest prices.
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 is apparently untrue and solvent.
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On top of that, they almost always have some kind of referral program so that users 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 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 previous 3 decades and have yet to find a site that we can say is  safe to invest in. Any site that promises you something that site 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 website is a scam to get yourself Easy, use our Bitcoin scam test tool to acquire 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 as well.
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 basic understanding of how Bitcoin works. You can view our fork claiming guide here.
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Keep in try this web-site 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 users it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that assert the coins for you personally and have a commission but this could easily turn into a scam which runs away 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 Extra resources from thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can employ.
By way of instance, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the highest significance of some time method you can use to make money from your Bitcoins but they can be SUPER insecure. I'd advise you to use these approaches only after considerable research and a fantastic understanding of the claiming process.