The Definitive Guide to Best Alt Coins
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. Another hassles of power costs, 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 perfect, most of the cloud mining websites today are simply pretending to use your money for mining operations, they are 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. Obviously we always urge you to do your own market study since in the end, its own money.
A remarkably popular method of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest rate. As such loans are ultra insecure the interest rates are pretty high that initially looks like a fantastic thing. .
Well, since there's absolutely no actual collateral that retains 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 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 higher Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every couple of days or provide you unreal interest prices.
What these sites really do is take money from new users and use that money to pay off older users. This process makes a lot of buzz around the website which is apparently untrue and solvent.
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On top of that, they nearly always have some sort of referral app so that users can bring their friends on board.
This is how a Ponzi scheme works. 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 longer payments will be produced and a great deal of people may get mad that they got scammed.
We've reviewed many Bitcoin investment sites in the previous 3 years and have yet to find a website that we can say is  secure to invest in. Any site that promises you something that is too good to be true is likely just a facade for individuals trying to steal your coins. .
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How can you find out if a website is a scam for yourself Easy, utilize 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 top article Bitcoin clone emerges from 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 much more. The process for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of the way Bitcoin works. You can view our fork claiming guide .
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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 users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that assert the coins for you personally and take a commission but that may easily turn into a scam which runs off 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 from thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can employ.
By way of 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 time method you can use to make money from the Bitcoins but they you can look here can be SUPER insecure. I'd advise you to utilize these approaches only after considerable research and a good understanding of the claiming process.