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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 probably cost less. The other hassles of electricity costs, configurations, maintenance and so on are basically the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds ideal, most of the cloud mining sites nowadays are simply pretending to use your money for mining operations, they are in fact scams.
Furthermore, while there are a few legit sites on the market, 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 very common way of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest rate. As these loans are ultra insecure the interest rates are pretty high which initially looks like a fantastic thing. .
Well, since there's absolutely no actual collateral which retains the borrower liable for the loan more often than not these loans default and lenders are abandoned without their money.
Weve tested out several loans here at 99Bitcoins, and they 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 websites which promise to double your coins every few days or give you unreal interest rates.
These websites really do is take money from new users and use that money to pay off older users. This process creates a lot of buzz around the site that is apparently untrue and solvent.
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On top of this, they almost always have some kind of referral program so that users 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 is going to be gone. No more payments will be made and a great deal of people will get mad that they got scammed.
We have reviewed several Bitcoin investment websites in the previous 3 decades and have yet to find a website that we can say is  secure to invest in. Any site that promises you something that's too good to be true is probably just a facade for scammers trying to steal your coins. .
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How can you find out whether a site is a scam to get yourself Easy, use our Bitcoin scam test tool to acquire a reasonable assumption about a sites legitimacy.
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 before 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 more. The process for claiming forked coins (aka forkcoins) is standard but demands an above fundamental understanding of how Read Full Article Bitcoin works. You can view 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 most non technical users it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and have a commission but that could 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 out of thin air. Related Site Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can apply.
By way of instance, Byteball was distributed freely to Bitcoin users depending on have a peek at this website 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 create money from your Bitcoins but they can be SUPER insecure. I would advise you to utilize these methods only after considerable research and a fantastic understanding of the claiming process.