Multi Coin Wallet - The Facts

Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. However, this only means that the hardware will cost less. The other hassles of electricity costs, configurations, maintenance and so on are essentially the same.

Occasionally youll encounter a website or cellular program that tells you they'll mine coins to you. The majority of these providers are basically useless and will often consume your apparatus computing power and battery just 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 ideal, the majority of the cloud mining sites today are simply pretending to use your money for mining operations, they're in scams.

Furthermore, while there are a couple of legit sites out there, the money youd cover 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 your money.

A remarkably popular way of growing your Bitcoin wealth is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest rate. Because these loans are ultra insecure the interest rates are pretty high which initially seems like a fantastic thing. .

Well, since there is no actual collateral which retains the debtor liable for the 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 specific 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 websites really do is take money from new customers and use that money to pay off older users. This process creates a lot of buzz around the site that seems to be untrue and solvent.

Things about Litecoin Cloud Mining

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

This is read here 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 will 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 which we can say is  secure to invest in. Any website that guarantees you something that's too good to be true is likely just a facade for scammers trying to steal your coins. .

The Facts About Cloud Mining Free Uncovered

How can you find out if a website is a scam for yourself Easy, use 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 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 branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and 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.

Things about Scrypt Coins

Keep in mind that if youre not sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. see post So for most non technical users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and take a commission but that could easily turn into a scam which runs off with you money. .

All about Scrypt Coins

Once you claimed 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 which you get coins out of 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 instance, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops may be the highest value for some time method you can use to make money from the Bitcoins but they can be SUPER risky. I'd advise you to use these approaches only after ample research and a good understanding of the claiming process.