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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. Another hassles of electricity expenses, configurations, maintenance and so on are basically exactly 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 today are simply pretending to use your money for mining operations, they're in scams.
Furthermore, while there are a few legit sites on the market, the money youd pay them to mine Bitcoin is probably better invested just buying Bitcoin. Obviously 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 riches is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest fee. Because such loans are ultra risky the interest rates are high that initially looks like a fantastic thing. .
Well, since there is no true collateral which retains the debtor liable for the loan more often than not these loans default and lenders are abandoned without their money.
Weve tested out several loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites that promise to double your coins every couple of days or provide you unreal interest prices.
What these sites actually do is take money from new customers and use that money to pay off old 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 this, they nearly always have some sort of referral program so that consumers can bring their friends on board.
This is the way a Ponzi scheme works. This will go on for around 3-4 months until one day that the website will only go offline and the money is going browse around this web-site to be gone. No longer payments will be made and a lot of people may get angry 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 state is  secure to invest in. Any site that guarantees you something that's too good to be true is likely only 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 legitimacy.
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 too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure 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 here.
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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 many non technical users it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and have a commission but this could easily turn into a scam which runs away with you you can try here money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which you get coins from 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 certain situations some conditions can apply.
By way of instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops may be the highest value for some time method you can use original site to make money from your Bitcoins but 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.