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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. 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. While this sounds perfect, the majority of the cloud mining sites today are just pretending to use your money for mining operations, they are in scams.
Furthermore, while there are a few legit sites on the market, the money youd cover them to mine Bitcoin is probably better invested just buying Bitcoin. Of course we always urge you to do your own market research since in the end, its own money.
A very popular way of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest fee. Because such loans are ultra insecure the interest rates are pretty high that initially seems like a good thing. .
Well, since there's absolutely no actual collateral that retains the debtor liable for the loan more often than not these loans default and lenders are abandoned without their money.
Weve tested out many loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every couple of days or give you unreal interest rates.
These websites actually do is take money from new users and use that money to pay off older users. This method makes a lot of buzz around the website which is apparently legit and solvent.
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On top of that, they nearly always have some sort of referral program so that users can bring their friends on board.
This is the way a Ponzi scheme functions. This will go on for around 3-4 months until one day that the website will only go offline and the money will be gone. No longer payments will be made and a great deal of people will get angry that they have scammed.
We've reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a website that 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 scammers trying to steal your coins. .
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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 legitimacy.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone emerges in 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 her explanation soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure for claiming forked coins (aka forkcoins) is standard however demands 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 customers it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which assert the coins for you and take a commission but this could easily turn into a scam that 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 about a certain cryptocurrency. The currency is distributed freely to the general public, although in some situations 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 method you can use to create money from your Bitcoins but they can be SUPER top article insecure. I would recommend that you utilize these methods only after considerable research and a good understanding of the my blog claiming process.