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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 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. When this sounds ideal, the majority of the cloud mining websites nowadays are just pretending to use your money for mining operations, they're 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. Of course we always urge you to do your own market research since in the end, its own money.
A very popular method of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest rate. As such loans are ultra risky the interest rates are high that initially looks like a fantastic thing. .
Well, since there's absolutely 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 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 provide you unreal interest prices.
What these websites actually do is take money from new users and use that money to pay off older users. This process creates a lot of buzz around the site that seems to be untrue and solvent.
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On top of that, additional hints they almost always have some kind of referral app so that consumers can bring their friends on board.
This is how a Ponzi scheme works. This can find go on for around 3-4 months until one day the site will just go offline and the money will be gone. No longer payments will be produced and a great deal of people may get angry that they have scammed.
We have reviewed several Bitcoin investment sites in the past 3 years and have yet to find a site that we can say is  safe to invest in. Any site that promises you something that's too good to be true is likely only a facade for individuals 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 get a reasonable assumption about click over here now 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 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 process for claiming forked coins (aka forkcoins) is standard however demands an above fundamental 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 youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for most non technical users it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you and have a commission but that may easily turn into a scam which runs off 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 much like forks in the sense which you get coins out of thin air. Airdrops are often 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 apply.
By way of example, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops may be the maximum value for some time method you can use to make money from your Bitcoins however they can be SUPER insecure. I would recommend that you utilize these methods only after considerable research and a fantastic understanding of the claiming process.