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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. However, this only means that the hardware will cost less. Another hassles of power 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 nowadays are just pretending to use your money for mining operations, they're in scams.
Furthermore, while there are a couple of legit sites on the market, the money youd cover 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 remarkably common way of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest rate. As these loans are ultra risky the interest rates are pretty high that initially seems like a good thing. .
Well, since there's absolutely no actual collateral which holds the debtor liable for your loan more often than not these loans default and lenders are left without their money.
Weve tested out several loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this specific method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every few days or provide you unreal interest prices.
What these websites really do is take money from new users and use that money to pay off older users. This process makes a great deal of buzz around the site that seems to be untrue and solvent.
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On top of that, they almost always have some sort pop over to these guys of referral program so that users can bring their friends on board.
This is how a Ponzi scheme works. This will go on for around 3-4 months until one day the site will only go offline and the money will be gone. No more payments will be produced and a lot of people may get mad that they have scammed.
We have reviewed many Bitcoin investment sites in the past 3 years and have yet to find a website which we can state is  safe to invest in. Any website that guarantees you something that's 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 whether a site is a scam for yourself Easy, use our Bitcoin scam evaluation tool to acquire a reasonable assumption about a sites legitimacy.
Starting around August Read More Here 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 fork 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 basic understanding of how 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 safe. Other alternatives include companies which assert the coins for you and have a commission but that could 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 other cryptocurrencies assuming it has a market.
Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are usually check it out utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in some cases 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 maximum significance of some time method you can use to create money from the Bitcoins however they can be SUPER risky. I would advise you to use these methods only after considerable research and a fantastic understanding of the claiming process.