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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 probably cost less. The other hassles of electricity costs, configurations, maintenance and so on are basically 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 are in scams.
What's more, while there are a couple of legit sites on the market, the money youd cover 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 way of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest rate. Because such loans are ultra insecure the interest rates are pretty high which initially looks like a good thing. .
Well, since there is no true collateral which retains the debtor liable for your loan more often than not these loans default and lenders are abandoned without their money.
Weve tested out many 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 High Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every couple of days or give you unreal interest rates.
These websites really do is take check over here money from new users and use that money to pay off older users. This process creates a lot of buzz around the website which seems to be 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 can go on for around 3-4 months until one day that the website will only go offline and the money is going to be gone. No more payments will be made and a lot of people will get angry that they have scammed.
We've reviewed several Bitcoin investment websites in the past 3 decades and have yet to find a website which we can state is  secure to invest in. Any site that guarantees 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 site next is a scam to get yourself Easy, utilize our Bitcoin scam evaluation tool to acquire 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 look at these guys 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 procedure for claiming forked coins (aka forkcoins) is standard however demands an above basic understanding of how Bitcoin works. You can see our fork claiming guide .
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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 keep your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and take 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 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 utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some cases some conditions can apply.
For instance, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the highest value for time method you can use to create money from your Bitcoins but they can be SUPER risky. I would recommend that you utilize these approaches only after ample research and a fantastic understanding of the claiming process.