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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 expenses, configurations, maintenance and so on are essentially exactly 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 websites today are simply pretending to use your money for mining operations, they are in scams.
Furthermore, while there are a couple of 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 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 debtors who need crypto with crypto owners that lend their coins for an interest rate. As these loans are ultra insecure the interest rates are pretty high that initially looks like a fantastic thing. .
Well, since there's absolutely no actual collateral which retains the borrower liable for your loan more often than not these loans default and lenders are abandoned without their money.
Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which claim to double your coins every couple of days or provide you unreal interest prices.
What these sites actually do is take money from new customers and use that money to pay off old users. This method makes a lot of buzz around the website which is apparently untrue and solvent.
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On top of that, they nearly always have some kind of referral program so that consumers can bring their friends on board.
This is how a Ponzi scheme functions. This can go on for around 3-4 months until one day the website will just go offline and the money will be gone. No longer payments will be made and a lot of people may get angry that they have scammed.
We've reviewed several Bitcoin investment sites in the previous 3 decades and have yet to find a site that we read more can state is  safe to invest in. Any website that guarantees you something that is 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 whether a site is a scam for yourself Easy, use our Bitcoin scam evaluation tool to get 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 as well.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The process for claiming forked coins (aka forkcoins) is standard but requires an above fundamental understanding of the way 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 most non technical customers content it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and take a commission but that could 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 check out this site Bitcoin or alternative cryptocurrencies assuming it's 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 in a certain cryptocurrency. The currency is distributed freely to the general public, although in certain situations some conditions can employ.
By way of 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 maximum significance of some time method you can use to create money from the Bitcoins however they can be SUPER insecure. I'd recommend that you utilize these approaches only after considerable research and a fantastic understanding of the claiming process.