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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 essentially exactly the same.

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Occasionally youll encounter a website or mobile app that tells you they'll mine coins to you. The majority of these services are basically useless and will often consume your devices computing power and battery 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 ideal, most of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they are in fact scams.

Furthermore, while there are a couple of legit sites on the market, the money youd pay 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 remarkably 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. As these loans are ultra risky the interest rates are pretty high which initially seems like a good thing. .

Well, since there is no true collateral which retains the borrower liable for the loan more often than not these loans default and lenders are left without their money.

Weve tested out many loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this particular method.

Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every few days or give you unreal interest prices.

These sites really do is take money from new users and use that money to pay off older users. This process makes a lot of buzz around the website which is apparently legit and solvent.

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

This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day that the site will just go offline and the money is going to be gone. No longer payments will be made and a lot of people will get angry that they got scammed.

We've reviewed many Bitcoin investment sites in the previous visit the website 3 years and have yet to find a website that we can state is  safe to invest in. Any website that promises you something that's too good to be true is probably only a facade for scammers 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 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 too.

The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard but demands an above pop over here 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 might end up losing your Bitcoins. So for many non technical customers it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that assert the coins for you and have a commission but this may easily turn into a scam which runs off 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 similar to forks in the sense that 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 public, although in certain cases some conditions can employ.

For 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 significance of some time method you can use to make money from your Bitcoins but they can be SUPER risky. I would advise you to use these methods only after considerable research and a fantastic understanding of the claiming process.

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