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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. The other hassles of power costs, configurations, maintenance and so on are basically the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds perfect, most of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they're in scams.
What's more, 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 own money.
A very popular way of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest fee. Because these loans are ultra risky the interest rates are high that initially looks like a fantastic thing. .
Well, since there is no actual collateral which retains the borrower 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 all eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every few days or give you unreal interest prices.
These websites really do is take money from new customers and use that money to pay off old users. This method creates a lot of buzz around the website which is apparently legit and solvent.
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On top of that, they nearly always have find more information some kind of referral program so that users 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 will be gone. No longer payments will be produced and a great deal of people may get angry that they have scammed.
We have reviewed several Bitcoin investment websites in the past 3 decades and have yet to find a site which we can state is  safe to invest in. Any website that promises you something that is too good to be true is probably just a facade for individuals trying to steal your coins. .
Cloud Mining Free - An Overview
How can you find out if a website is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to acquire 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 from the existing Bitcoin. Every person who held Bitcoin before 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 more. The process for claiming forked coins (aka forkcoins) is standard but demands an above basic understanding of how Bitcoin works. You can see our fork claiming guide here.
The Ultimate Guide To Scrypt Coins
Bear 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 claim the coins for you personally and take a commission but this may easily turn into a scam that runs off with you money. .
The 8-Second Trick For Best Alt Coins
Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense which you get coins out of informative post thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain 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 may be the maximum significance of time method you can use to create money from the Bitcoins but they can be SUPER risky. I'd recommend that you utilize these methods only after ample research and a good understanding of the claiming process.