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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. The other hassles of electricity expenses, configurations, maintenance and so on are basically exactly the same.

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Occasionally youll encounter a web site or cellular app that tells you they will mine coins to you. Most of these providers are pretty much useless and will usually consume your devices computing power and battery simply to give you a couple of cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds ideal, the majority of the cloud mining sites nowadays are simply 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 pay them to mine Bitcoin is likely better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its own money.

A remarkably popular method of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest fee. As these loans are ultra risky the interest rates are high which initially looks like a fantastic thing. .

Well, since there is no true collateral that holds 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 here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this particular method.

Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every couple of days or provide you unreal interest rates.

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

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On top of this, they almost always have some kind of referral app so that users 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 the site will just go offline and the money is going to be gone. No longer payments will be produced and a great deal of people will get mad that they have scammed.

We have reviewed many Bitcoin investment websites in the previous 3 decades pop over to these guys and have yet to find a site that we can state is  safe to invest in. Any site 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 if a site is a scam for yourself Easy, use 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 originates 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 soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard but requires an above fundamental understanding of how Bitcoin works. You can see our fork claiming guide .

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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many non technical customers it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you and have a commission but that may easily turn into a scam which runs away with you money. .

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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.

Airdrops are much like forks in the sense which you get coins out of thin air. Airdrops are often used to spread the word in 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 method you can use to make money from the Bitcoins but they can be SUPER insecure. I'd recommend that you utilize these methods only after considerable research and a fantastic understanding of the claiming process.

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