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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. Another hassles of power expenses, 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, most of the cloud mining websites today 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 out there, 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 wealth is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins for an interest fee. Because such loans are ultra risky the interest rates are pretty high that initially seems like a fantastic thing. .
Well, since there is no actual collateral that holds the debtor liable for your loan more often than not these loans default and lenders are abandoned with no 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 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 provide you unreal interest prices.
What these sites really do is take money from new users and use that money to pay off older users. This method creates a great deal of buzz around the site that seems to be 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 will 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 more payments will be produced and a lot of people may get angry that they got scammed.
We have reviewed many Bitcoin investment sites in the previous 3 decades and have yet to find a site which we can state is  secure to invest in. Any site that promises you something that is too good to be true is likely just a facade for scammers trying to steal your coins. .
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How can you find out whether a website is a scam for yourself Easy, utilize our Bitcoin scam test tool to get 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 originates 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 procedure for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of the way Bitcoin works. You can view our fork claiming guide helpful hints here.
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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. So for most non technical users it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that claim the coins for you personally and have a commission but this may 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's a market.
Airdrops are much like 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 public, although in some situations some conditions can employ.
For example, 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 time method you can use to create money from the Bitcoins additional reading however they can be SUPER insecure. I would advise you to utilize these approaches only after ample research and a good understanding of the claiming process.