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

Occasionally youll encounter a web site or cellular app that tells you they'll mine coins to you. Most of these providers are pretty much useless and will often consume your devices computing power and battery just 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 just pretending to use your money for mining operations, they are in scams.

What's more, while there are a few legit sites out there, 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 common method of growing your Bitcoin wealth is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest fee. As these loans are ultra risky the interest rates are high which initially looks like a good thing. .

Well, since there's absolutely no actual collateral that holds the debtor liable for your loan more often than not these loans default and lenders are abandoned with no money.

Weve tested out many 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 High 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.

These websites really do is take money from new users and use that money to pay off old users. This process makes a great deal of buzz around the website which seems to be legit and solvent.

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On top of this, they Read Full Report nearly always have some kind of referral app so that consumers 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 that the website will just go offline and the money will be gone. No longer payments will be made and a lot of people may get angry that they have scammed.

We have reviewed many Bitcoin investment websites in the previous 3 decades and have yet to find a site that we can state is look here  secure to invest in. Any website that guarantees you something that's 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 site is a scam for yourself Easy, use our Bitcoin scam evaluation tool to get a fair assumption about a websites 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 much more. The process for claiming forked coins (aka forkcoins) is standard but requires an above fundamental understanding of how Bitcoin works. You can see 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 might end up losing your Bitcoins. So for most non technical users it would better to pass on a fork and keep 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 which runs off with you money. .

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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.

Airdrops are similar to forks in the sense which you get coins from thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely you could try this out to the general public, although in certain cases some conditions can employ.

By way of 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 highest significance of some time method you can use to create money from your Bitcoins but they can be SUPER risky. I would recommend that you use these approaches only after ample research and a good understanding of the claiming process.