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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. Another hassles of electricity expenses, configurations, maintenance and so on are basically exactly the same.

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Occasionally youll encounter a web site or cellular app that tells you they will mine coins for you. Most of these services are basically useless and will often consume your devices computing power and battery simply to give you a few cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds ideal, most of the cloud mining sites today are simply pretending to use your money for mining operations, they are in fact scams.

Furthermore, while there are a couple of legit sites on the market, the money youd pay 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 very common method of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest fee. As such loans are ultra insecure the interest rates are high which initially seems like a good thing. .

Well, since there is no actual collateral which retains the debtor liable for your loan more often than not these loans default and lenders are left without their money.

Weve tested out several loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this specific method.

Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites which claim to double your coins every few days or give you unreal interest rates.

What these websites really do is X11 Coins take money from new customers and use that money to pay off old users. This method creates a great deal of buzz around the site that seems to be legit and solvent.

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On top of that, they nearly always have some sort of referral program so that consumers can bring their friends on board.

This is how a Ponzi scheme works. This can go on for around 3-4 months until one day that the website will only go offline and the money will be gone. No longer payments will be produced and a lot of people will get mad that they have scammed.

We've reviewed several Bitcoin investment sites in the past 3 years and have yet to find a website that we can state is  safe to invest in. Any site that promises you something that is too good to be true is probably just a facade for scammers trying to steal your coins. .

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How can you find out whether a site is a scam to get yourself Easy, use our Bitcoin scam test tool to get a reasonable 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 in the existing Bitcoin. Every person who held Bitcoin before 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 much more. The procedure 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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Bear 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 and take a commission but this could 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 Learn More an exchange for Bitcoin or other cryptocurrencies assuming it's a market.

Airdrops are similar to forks in 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 public, although in some situations some conditions can apply.

By way of example, 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 significance of time method you can use to create money from your Bitcoins however they can be SUPER insecure. I would recommend that you use these approaches only after ample research and a fantastic understanding of the claiming process.

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