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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.

 

 

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Occasionally youll encounter a website or cellular app that tells you they will mine coins to you. The majority of these services are pretty much useless and will often consume your apparatus computing power and battery simply to offer you a few cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds ideal, most of the cloud mining sites today are simply 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 likely 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 systems. These sites connect borrowers that need crypto with crypto owners who lend their coins to get an interest fee. Because such loans are ultra risky the interest rates are pretty high that initially looks like a good thing. .

Well, since there is no actual collateral which retains the borrower liable for your 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 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 give you unreal interest rates.

These sites really do is take money from new customers and use that money to pay off older users. This process makes a great deal of buzz around the site that is apparently untrue and solvent.

 

 

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On top of that, they nearly always have some kind of referral program so that users can bring their friends on board.

This is how a Ponzi scheme functions. 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 made and a great deal of people may get mad that they got scammed.

We've reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a website which we can state is  safe to invest in. Any website that promises you something that is too good to be true is probably just a facade for scammers trying to steal your coins. .

 

 

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How can you find out if a website is a scam for yourself Easy, use our Bitcoin scam test tool to get a fair assumption about a sites 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 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 process 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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Keep in mind that if youre not sure what more helpful hints 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 keep your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and have a commission but this 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 alternative cryptocurrencies assuming it's a market.

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

By way of example, 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 to make money from the Bitcoins but they can be SUPER risky. I would recommend that you use these methods only after considerable research and a good understanding of the claiming process.

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