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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 power 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. When this sounds ideal, most of the cloud mining sites today are just pretending to use your money for mining operations, they are in fact scams.
What's more, while there are a couple of 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 your money.
A very popular method of growing your Bitcoin wealth 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 pretty high which initially looks like a fantastic thing. .
Well, since there's absolutely no actual 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 at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of 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 claim to double your coins every couple of days or provide you unreal interest rates.
What these sites really do is take money from new customers and use that money to pay off older users. This process creates a lot of buzz around the site that seems to be untrue and solvent.
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On top of this, they nearly always have some kind of referral program so that users can bring their friends on board.
This is how a Ponzi scheme functions. This will go on for around 3-4 months until one day 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 may get mad that they got scammed.
We've reviewed several Bitcoin investment sites in the past 3 years and have yet to find a website which we can say is  safe to invest in. Any website that guarantees you something that's too Go Here good to be true is probably just a facade for individuals trying to steal your coins. .
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How can you find out whether a site is a scam to get yourself Easy, utilize our Bitcoin scam evaluation 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 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 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 basic understanding of the way Bitcoin works. You can view our fork claiming guide .
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Keep 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 users it would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that claim the coins for you personally and take a commission but that could easily turn into a scam that runs away with you money. .
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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can employ.
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 maximum value for time method you can use to create money from your Bitcoins visit homepage however they can be SUPER risky. I would recommend that you utilize these methods only after considerable this page research and a good understanding of the claiming process.