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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. Another hassles of electricity expenses, configurations, maintenance and so on are essentially the same.

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Occasionally youll encounter a web site or mobile program that tells you they will mine coins for you. Most of these providers are pretty much useless and will often consume your devices computing power and battery just 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, the majority of the cloud mining sites nowadays are simply pretending to use your money for mining operations, they are in scams.

Furthermore, while there are a few legit sites out there, the money youd cover them to mine Bitcoin is likely better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its own money.

A remarkably popular way of growing your Bitcoin riches is via Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins to get an interest fee. As these loans are ultra insecure the interest rates are high which initially looks like a good thing. .

Well, since there is no true collateral that holds the debtor liable for the loan more often than not these loans default and lenders are abandoned with no money.

Weve tested out many 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 sites that promise to double your coins every couple of days or provide you unreal interest prices.

What these websites really do is take money from new customers and use that money to pay off older users. This method makes a great deal of buzz around the site that is apparently untrue and solvent.

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On top of that, they almost always have some sort of referral program so that consumers can bring their friends on board.

This is next how a Ponzi scheme works. This will go on for around 3-4 months until one day that 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 will get angry that they got scammed.

We've reviewed several Bitcoin investment websites in the past 3 decades and have yet to find a site which we can say is  safe to invest in. Any site that promises you something that's too good to be true is this contact form probably only a facade for scammers trying to steal your coins. .

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How can you find out whether a site is a scam for yourself Easy, utilize our Bitcoin scam test tool to get 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 before the fork can now 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 requires an above fundamental understanding of the way 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'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you and take 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 similar to forks in the sense that you get coins out of thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain cases some conditions can employ.

By way of example, Byteball was Continued 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 create money from your Bitcoins but they can be SUPER risky. I'd advise you to utilize these methods only after ample research and a good understanding of the claiming process.

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