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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. The other hassles of power expenses, configurations, maintenance and so on are essentially the same.
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're in scams.
What's more, while there are a few legit sites out there, the money youd pay 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 very popular way of growing your Bitcoin riches is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest rate. Because these loans are ultra insecure the interest rates are high that initially looks like a fantastic thing. .
Well, since there's absolutely no actual collateral that holds the borrower liable for the loan more often than not these loans default and lenders are abandoned with no 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 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 prices.
These sites really do is take money from new users and use that money to pay off old users. This method makes a lot 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 users can bring their friends on board.
This is the way a Ponzi scheme works. 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 great deal of people may get mad that they have scammed.
We've reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a site which we can state is  secure to invest in. Any site that guarantees you something that is too good to be true is likely just a facade for individuals trying to steal your coins. .
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How can original site you find out whether a site is a scam to get yourself Easy, utilize our Bitcoin scam test 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 emerges from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin too.
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 demands an above fundamental understanding of the way Bitcoin works. You can see 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 could end up losing your Bitcoins. So for most non technical customers it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which assert the coins for you and take a commission but that may easily turn into a scam that runs off 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's a market.
Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can employ.
For instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the highest significance of time read review method you can use to make money from your Bitcoins however they can be SUPER risky. I would advise you to utilize these approaches only after ample research and a good understanding of go to this site the claiming process.