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 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 perfect, most of the cloud mining sites nowadays 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 cover them to mine Bitcoin is probably 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 common method of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest rate. As these loans are ultra insecure the interest rates are pretty high which initially looks like a good thing. .
Well, since there is no actual collateral which holds the borrower 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 stay away from this specific method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every couple of days or give you unreal interest rates.
These sites actually do is take money from new customers and use that money to pay off old users. This method creates a great deal of buzz around the site that seems to be untrue and solvent.
Litecoin Cloud Mining Can Be Fun For Anyone
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 functions. This will go on for around 3-4 months until one day that the website will only go offline and the money will be gone. No more payments will be made and a great deal of people will get angry that they have scammed.
We have reviewed many Bitcoin investment websites in the past 3 decades and have yet to find a website that we can state is  secure to invest in. Any website that promises you something that is too good to be true is likely only a facade for scammers trying to steal your coins. .
Our Litecoin Cloud Mining Statements
How can you find out if a website is a scam for yourself Easy, use our Bitcoin scam test tool click here for more 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 emerges from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now 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 however demands an above basic understanding of the way Bitcoin works. You can see our fork claiming guide here.
Some Known Questions About Scrypt Coins.
Bear in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your company website Bitcoins. So for most non technical customers it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you and take a commission but this may easily turn into a scam which runs off with you money. .
Scrypt Coins for Beginners
Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense that 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 cases some conditions can apply.
By way of instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the highest value for some time method you can use to make money from your Bitcoins however they can be SUPER insecure. I would recommend that you utilize these methods only after considerable research and a good understanding of the claiming process.