Little Known Questions About Best Alt Coins.
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 probably cost less. Another hassles of electricity expenses, configurations, maintenance and so on are basically exactly the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds perfect, the majority of the cloud mining sites nowadays 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 probably better invested just buying Bitcoin. Of course 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 riches is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest rate. As such loans are ultra risky the interest rates are pretty high which initially seems like a fantastic 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 abandoned with no money.
Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every couple of days or provide you unreal interest rates.
These sites actually do is take money from new customers and use that money to pay off older users. This method creates a great deal of buzz around the website which 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 the way you can find out more 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 is going to be gone. No more payments will be made and a lot of people may get angry that they got scammed.
We have reviewed several Bitcoin investment websites in the previous 3 decades and have yet to find a website which we can state is  secure to invest in. Any website that guarantees you something that's 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 website is a scam for yourself Easy, use our Bitcoin scam evaluation 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 also claim the new coin as well.
The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The process for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of how Bitcoin works. her latest blog 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 many non technical users it would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and have a commission but this could easily turn into a scam that runs away 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 the sense which you get coins out of thin air. Airdrops are often utilized to spread the word about 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 some time method you can use to make money from your Bitcoins however they can be SUPER risky. I'd recommend that you use these methods only after considerable research and a fantastic linked here understanding of the claiming process.