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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 expenses, configurations, maintenance and so on are basically exactly the same.

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Sometimes youll encounter a web site or cellular app that tells you they will mine coins for you. Most of these services are pretty much useless and will usually consume your apparatus computing power and battery life simply to give you a couple of cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds perfect, most of the cloud mining websites today are simply pretending to use your money for mining operations, they are 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 probably better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its own money.

A very common method of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest fee. Because these loans are ultra insecure the interest rates are high which initially seems like a good thing. .

Well, since there's absolutely no true collateral which holds the borrower liable for your loan more often than not these loans default and lenders are left with no money.

Weve tested out several loans 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 High Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every couple of days or give you unreal interest rates.

These sites actually do is take money from new customers and use that money to pay off old users. This method makes a great deal of buzz around the site that seems to be legit and solvent.

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On top of that, they nearly always have some kind of referral app so that consumers can bring their friends on board.

This is how a Ponzi scheme works. 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 lot of people may get angry that they got scammed.

We have reviewed several Bitcoin investment websites in the past 3 decades and have yet to find a website that we can state is  secure to invest in. Any site that promises you something that is 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 if a site is a scam for yourself Easy, utilize our Bitcoin scam test tool to acquire a reasonable assumption about a websites 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 More Bonuses to the fork can now 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 procedure for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of how Bitcoin works. You can see our fork claiming guide .

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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 many non technical users it would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you and have a commission but that may easily turn into a scam that 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's a market.

Airdrops are much like 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 public, although in some cases some conditions can apply.

By way of instance, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops may be the highest value for some time method you can use to make money from the Bitcoins however they can be SUPER insecure. I would advise you to use these approaches only after considerable research and a good understanding of the claiming process.

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