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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. The other hassles of electricity costs, configurations, maintenance and so on are essentially exactly the same.

Sometimes youll encounter a web site or cellular app that tells you they'll mine coins for you. Most of these providers are basically useless and will usually consume your devices computing power and battery just to give you a few 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 sites nowadays are simply pretending to use your money for mining operations, they are in fact 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. Of course we always urge you to do your own market study since in the end, its your money.

A very common way of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest fee. Because these loans are ultra insecure the interest rates are high that initially looks like a good thing. .

Well, since there is no true collateral that retains the borrower liable for your loan more often than not these loans default and lenders are left with no money.

Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this particular method.

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

These sites really do is take money from new users and use that money to pay off old users. This method creates a great deal of buzz around the site that seems to be untrue and solvent.

Some Known Questions About Cloud Mining Free.

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

This is how a Ponzi scheme functions. This can go on for around 3-4 months until one day that the site will only go offline and the money will be gone. No more payments will be made and a great deal of people will get angry that they have scammed.

We have reviewed many Bitcoin investment websites in the past 3 years and have yet to find a site which we can say is  safe to invest in. Any site that promises you something that is too good to be true is probably only a facade for scammers trying to steal your coins. . official source

Some Of Litecoin Cloud Mining

How can you find out whether a site is a scam for yourself Easy, utilize our Bitcoin scam test tool to acquire 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 from 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 more. The procedure 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.

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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 many non technical customers it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you and have a commission but that could easily turn into a scam which runs off with you money. .

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Once you claimed 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 out of 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 some situations some conditions can apply.

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 your Bitcoins however they can be SUPER insecure. I would recommend that you use these approaches only after considerable research and a good understanding of the claiming process.