Facts About Scrypt Coins Revealed
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 cost less. The other hassles of electricity costs, configurations, maintenance and so on are basically 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 today are just pretending to use your money for mining operations, they're in fact scams.
Furthermore, 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 own money.
A remarkably popular method of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest fee. Because such loans are ultra risky the interest rates are high which initially looks like a good thing. .
Well, since there's absolutely no actual collateral which holds the borrower liable for your loan more often than not these loans default and lenders are left without their money.
Weve tested out many 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 sites which claim to double your coins every couple of days or provide you unreal interest rates.
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 seems to be untrue and solvent.
8 Simple Techniques For X11 Coins
On top of that, they nearly always have some sort of referral app so that users 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 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 may get angry that they got scammed.
We have reviewed many Bitcoin investment websites 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's too good to be true is likely only a facade for individuals trying to steal your coins. .
Cloud Mining Free Can Be Fun For Anyone
How can you find out if a website is a scam for yourself Easy, utilize our Bitcoin scam test tool to acquire 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 also claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure for claiming forked coins (aka forkcoins) is standard however demands an above basic understanding of the way Bitcoin works. You can view our fork claiming guide here.
Our Best Alt Coins PDFs
Keep 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 my review here would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which assert the coins for you personally and have a commission but that could easily turn into a scam that runs away with you money. .
Getting The Best Alt Coins To Work
Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.
Airdrops are much like forks in the sense that you get coins from thin air. Airdrops are often 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 example, 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 however they can be SUPER risky. I'd advise you to utilize these methods only after ample research and a fantastic understanding of the claiming process.