Scrypt Coins - Questions
Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. But this only means that the hardware will cost less. The other hassles of power expenses, 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. While this sounds perfect, the majority of the cloud mining websites today are just pretending to use your money for mining operations, they're in scams.
What's more, while there are a couple of legit sites out there, the money youd cover them to mine Bitcoin is probably better invested just buying Bitcoin. Of course we always urge you to do your own market study since in the end, its own money.
A very common method of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest fee. As these loans are ultra risky the interest rates are high which initially seems 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 many loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of 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 claim to double your coins every couple of days or give you unreal interest prices.
These websites actually do is take money from new customers and use that money to pay off old users. This process 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 almost always have some sort of referral program so that consumers can bring their friends on board.
This is how a Ponzi scheme works. This will go on for around 3-4 months until one day the website will only go offline and the money will be gone. No more payments will be produced and a great deal of people may get mad that they got scammed.
We have reviewed many Bitcoin investment websites in the past 3 years and have yet to find a site which we can state is  safe to invest in. Any site that guarantees you something that's 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 if a site is a scam to get yourself Easy, utilize 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 in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure for claiming forked coins (aka forkcoins) is standard however demands an above basic understanding of how Bitcoin works. You can view our fork claiming guide here.
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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 users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and have 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 other try this website cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are often used 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.
For 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 value for some time method you can use to make money from the Bitcoins but they can be SUPER insecure. I'd recommend that you use these methods only after considerable research and a good understanding of the claiming process.