How Litecoin Cloud Mining can Save You Time, Stress, and Money.

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 probably cost less. The other hassles of electricity expenses, configurations, maintenance and so on are essentially exactly the same.

Occasionally youll encounter a website or mobile program that tells you they will mine coins to you. Most of these providers are pretty much useless and will often consume your devices computing power and battery life just to offer you a couple of 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 websites 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 pay them to mine Bitcoin is likely 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 remarkably popular method of growing your Bitcoin wealth is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins to get an interest fee. Because these loans are ultra risky the interest rates are pretty high that initially looks like a good thing. .

Well, since there is no actual collateral that holds the borrower 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 all 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 websites that claim to double your coins every few days or give you unreal interest rates.

What these sites really do is take money from new users and use that money to pay off old users. This method makes a lot of buzz around the website which seems to be untrue and solvent.

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On top of that, they almost always have some kind of referral app so that consumers can bring their friends on board.

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

We've reviewed many Bitcoin investment sites in the past 3 years and have yet to find a site that we can state is  safe to invest in. Any website that promises 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 if a website is a scam for yourself Easy, use our Bitcoin scam test tool to acquire a fair assumption about a websites validity.

Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone Web Site originates in 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 much more. The process for claiming forked coins (aka forkcoins) is standard however demands an above fundamental 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 users it'd better to pass on a fork have a peek at this website and keep your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and have a commission but that may 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 an exchange for Bitcoin or alternative cryptocurrencies assuming it has a market.

Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in certain situations some conditions can employ.

For instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops may be the maximum value for some time method you can use to make money from your Bitcoins but 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.