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Mining altcoins (e.g. Ethereum mining) is cheaper 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 exactly the same.

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Sometimes youll encounter a web site or mobile app that tells you they will mine coins to you. The majority of these services are pretty much useless and will often consume your devices computing power and battery life just to give you a couple of cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds perfect, most 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. Obviously we always urge you to do your own market research since in the end, its your money.

A very popular method of growing your Bitcoin wealth is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners who lend their coins to get an interest fee. As such loans are ultra risky the interest rates are pretty high that initially seems like a good thing. .

Well, since there's absolutely no actual collateral which holds the borrower liable for the loan more often than not these loans default and lenders are abandoned with no money.

Weve tested out several loans here 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 higher Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every few days or provide you unreal interest prices.

What these websites actually do is take money from new customers and use that money to pay off older users. This method makes a great deal 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 how a Ponzi scheme functions. This will go on for around 3-4 months until one day the site will only go offline and the money will be gone. No longer payments will be made and a great deal of people will get angry that they got scammed.

We have reviewed many Bitcoin investment sites in the past 3 years and have yet to find a website which we can say is  safe to invest in. Any website that guarantees you something that's too good to be true is likely only a facade for scammers trying to steal your coins. .

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How can you find out if a website is a scam to get yourself Easy, use our Bitcoin scam test tool to get a reasonable assumption about a sites 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 before 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 much dig this more. The process for claiming forked coins (aka forkcoins) is standard however requires an above basic 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 customers it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which assert the coins for you personally and have a commission but that could easily turn into a scam which runs off with you money. .

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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.

Airdrops are similar to forks in check here the sense that you get coins from thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can employ.

For 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 highest value for time method you can use to create money from the Bitcoins but great site they can be SUPER risky. I'd recommend that you use these methods only after considerable research and a fantastic understanding of the claiming process.

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