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What Does Best Alt Coins Mean?


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. Another hassles of electricity expenses, configurations, maintenance and so on are basically exactly the same.

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Occasionally youll encounter a web site or cellular program that tells you they'll mine coins for you. The majority of these services are basically useless and will often consume your devices computing power and battery life simply to give you a few cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds perfect, most of the cloud mining websites today 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 on the market, the money youd cover 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 common method of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest fee. Because such loans are ultra insecure the interest rates are pretty high that initially seems like a good thing. .

Well, since there's absolutely no true 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 here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this particular method.

Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every few 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 method creates a lot of buzz around the site that is apparently legit and solvent.

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On top of that, they nearly always have some kind of useful site 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 website will only go offline and the money is going to be gone. No longer payments will be made and a great deal of people may get angry that they have scammed.

We've reviewed several Bitcoin investment websites in the past 3 decades and have yet to find a website that we can say is  safe to invest in. Any site that guarantees you something that is too good to be true is probably only 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, utilize our Bitcoin scam test tool to acquire a reasonable assumption about a websites validity.

Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone originates in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin too.

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 but demands an above fundamental understanding of the way Bitcoin works. You can see 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 customers it'd better to pass on a like it fork and maintain your Bitcoins safe. Other alternatives include companies that assert the coins for you personally and have a commission but this may easily turn into a scam which runs away 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 has 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 about a certain cryptocurrency. The currency is distributed freely to the general public, although in some situations 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 could possibly be the maximum value for time method you can use to create money from the Bitcoins however they can be SUPER insecure. I'd recommend that you utilize these methods only after considerable research and a good understanding of the claiming process.

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