Cloud Mining Free - An Overview
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 probably cost less. Another hassles of electricity expenses, configurations, maintenance and so on are essentially exactly the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds ideal, most of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they are in fact scams.
What's more, while there are a few legit sites out there, 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 research since in the end, its your money.
A very popular method of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest rate. Because these loans are ultra risky the interest rates are high which initially seems like a fantastic thing. .
Well, since there's absolutely no true collateral that holds the debtor 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 stay away from this specific method.
Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every couple of days or give you unreal interest rates.
These websites actually do is take money from new customers and use that money to pay off old users. This method makes a lot of buzz around the site that is apparently untrue and solvent.
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On top of this, they almost always have some kind of referral program so that consumers can bring their friends on board.
This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day the website will just go offline and the money is going to be gone. No more payments will be made and a great deal of people may get angry that they have scammed.
We've reviewed many Bitcoin investment sites in the past 3 years and have yet to find a site 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 whether a site is a scam to get yourself Easy, utilize our Bitcoin scam test tool to get a reasonable assumption about a sites validity.
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 prior to 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 browse around this web-site (aka forkcoins) is standard but demands an above basic understanding of the way Bitcoin works. You can view 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 many non technical users it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which assert the coins for you and take a commission but that may easily turn into a scam that 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 that you get coins out of thin air. Airdrops are often utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some situations some conditions can employ.
For example, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they more info here owned.
To conclude, forks and airdrops could possibly be the highest value for some time method you can use to make money from the Bitcoins however they can be SUPER insecure. I would advise you to use these approaches only after ample research and a fantastic understanding of the claiming process.