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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 cost less. Another hassles of power costs, configurations, maintenance and so on are essentially the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds perfect, the majority of the cloud mining sites nowadays are simply pretending to use your money for mining operations, they are in scams.
Furthermore, while there are a couple of legit sites out there, 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 study since in the end, its your money.
A remarkably popular way of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest rate. As such loans are ultra insecure the interest rates are high which initially seems like a fantastic thing. .
Well, since there is no true collateral which holds the debtor liable for the loan more often than not these loans default and lenders are left without their money.
Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every few days or give you unreal interest rates.
What these sites actually do is take money from new users and use that money to pay off older 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 sort of referral app so that consumers can bring their friends on board.
This is how a Ponzi scheme functions. This can go on for around 3-4 months until one day the website will just go offline and the money will be gone. No more payments will be made and a lot of people will get angry that they have scammed.
We have reviewed many Bitcoin investment websites in the past 3 decades and have yet to find a website that we can state is  safe to invest in. Any site that guarantees you something that is too 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 if a website is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to get 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 before the fork can now also claim the Continued 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 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 most non technical users it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which assert the coins for you personally and take a commission but that may easily turn into a scam which runs away with you look here money. .
All About Scrypt Coins
Once you claimed 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 out of thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can employ.
By way of example, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the maximum significance of some time his comment is here method you can use to create money from the Bitcoins however they can be SUPER insecure. I would recommend that you utilize these approaches only after considerable research and a fantastic understanding of the claiming process.