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

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Occasionally youll encounter a web site or mobile program that tells you they'll mine coins for you. Most of these providers are basically useless and will often consume your devices computing power and battery life just to offer you a couple of cents in return.

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 simply pretending to use your money for mining operations, they are in fact scams.

What's more, 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 study since in the end, its your money.

A remarkably common method of growing your Bitcoin wealth is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins for 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 true collateral that holds the debtor liable for the loan more often than not these loans default and lenders are left without their money.

Weve tested out many loans here 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 websites 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 customers and use that money to pay off older users. This process creates a lot of buzz around the site that is apparently legit and solvent.

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On top of that, they almost always have some sort of referral program so that consumers 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 that the read this site will only go offline and the money is going to be gone. No more payments will be made and a great deal of people may get angry that they got scammed.

We have reviewed many Bitcoin investment websites in the past 3 years and have yet to find a site which we can state is  secure to invest in. Any site that promises you something that's too good to be true is likely 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 to get yourself Easy, use our Bitcoin scam test tool to acquire a fair assumption about a websites 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 too.

The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The process for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of how Bitcoin works. You can see 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 customers 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 that runs off 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'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 in a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can employ.

By way of instance, Byteball was distributed freely to Bitcoin users find more info depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops may 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 use these approaches only after considerable research and a fantastic understanding of the claiming process.

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