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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 cost less. The other hassles of power expenses, configurations, maintenance and so on are essentially the same.

Sometimes youll encounter a web site or mobile app that tells you they'll mine coins to you. Most of these services are basically useless and will often consume your devices computing power and battery life simply to offer 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 perfect, the majority of the cloud mining websites today 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. Of course we always urge you to do your own market research since in the end, its your money.

A remarkably common 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 risky the interest rates are pretty high that initially looks like a fantastic thing. .

Well, since there is no actual collateral that holds the borrower 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 all 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 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 old users. This process makes a lot of buzz around the site that seems to be legit and solvent.

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On top of that, they almost always have some sort of referral app so that users can bring their friends on board.

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

We've reviewed many Bitcoin investment websites in the past 3 years here and have yet to find a website that we can say is  secure to invest in. Any website that promises you something that is too good to be true is likely just a facade for individuals trying to steal your coins. .

The Best Guide To Cpu Mining Coins

How can you find out whether a website is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to acquire a fair assumption about a sites validity.

Starting around August 2017 Read More Here 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 too.

The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard however demands an above basic understanding of the way 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 would 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 may easily turn into a scam which runs away 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 has a market.

Airdrops are much like forks in the sense that you get coins from thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can employ.

By way of example, 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 the Bitcoins however they can be SUPER risky. I would recommend that you utilize these methods only after considerable research and a fantastic understanding of the claiming process.