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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. However, this only means that the hardware will cost less. The other hassles of power costs, configurations, maintenance and so on are essentially 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 simply pretending to use your money for mining operations, they're in fact 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. Of course we always urge you to do your own market study since in the end, its own money.
A remarkably common way of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest fee. As such loans are ultra insecure the interest rates are pretty high which initially looks like a good thing. .
Well, since there's absolutely no actual collateral that retains the debtor liable for your loan more often than not these loans default and lenders are left with no money.
Weve tested out several loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of 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 that claim to double your coins every few days or give 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 method makes a great deal of buzz around the website which is apparently untrue and solvent.
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On top of this, they almost always have some sort of referral app so that consumers 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 the website will just go offline and the money is going to be gone. No longer payments will be made and a great deal of people may get angry that they got scammed.
We've reviewed several Bitcoin investment sites in the previous 3 decades and have yet to find a site that we can say is  safe to invest in. Any website 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 website is a scam for yourself Easy, use our Bitcoin scam test tool to get a reasonable assumption about a websites validity.
Starting around link 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 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 however requires an above basic understanding of how Bitcoin works. You can view 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 go to this site end up losing your Bitcoins. So for many non technical customers it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which claim the coins for you personally and take a commission but this may easily turn into a scam that runs off 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 similar to forks in the sense which you get coins from thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed try this web-site freely to the public, although in some situations some conditions can employ.
By way of 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 value for time method you can use to create money from the Bitcoins however they can be SUPER insecure. I'd advise you to use these methods only after considerable research and a good understanding of the claiming process.