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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. However, this only means that the hardware will probably cost less. The other hassles of electricity costs, configurations, maintenance and so on are basically exactly the same.

Sometimes youll encounter a website 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 apparatus computing power and battery simply to give you a few cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds ideal, the majority of the cloud mining sites nowadays are just pretending to use your money for mining operations, they're in fact scams.

What's more, while there are a couple of legit sites out there, 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 very common method of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest fee. 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 true collateral that retains the borrower liable for your loan more often than not these loans default and lenders are left with no money.

Weve tested out several 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 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 prices.

These sites actually do is take money from new customers and use that money to pay off older users. This process creates a great deal of buzz around the site that is apparently 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 the way a Ponzi scheme functions. This will go on for around 3-4 months until one day the website will only go offline and the money is going to be gone. No longer payments will be try this out produced and a lot of people may get mad that they got scammed.

We've reviewed several Bitcoin investment websites in the previous 3 decades and have yet to find a site which we can say is  safe to invest in. Any website that guarantees you something that is too good to be true is likely only Learn More Here a facade for individuals trying to steal your coins. .

The smart Trick of Litecoin Cloud Mining That Nobody is Talking About

How can you find out if a website is a scam for yourself Easy, use our Bitcoin scam evaluation tool to acquire 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 prior to the fork can now 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 procedure for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of the way Bitcoin works. You can see 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 many non technical users it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you and take 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 alternative cryptocurrencies assuming it's a market.

Airdrops are much like forks in the sense that you get coins out of thin air. Airdrops are often 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 employ.

For instance, 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 value for time method you can use to make money from your Bitcoins however they can be SUPER insecure. I'd recommend that you use these approaches only after considerable research and a good understanding of the claiming process.