The Of Litecoin Cloud Mining

All About Litecoin Cloud Mining


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 probably cost less. Another hassles of power costs, configurations, maintenance and so on are essentially the same.

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Occasionally youll encounter a web site or cellular app that tells you they'll mine coins to you. Most of these providers are basically useless and will usually consume your devices computing power and battery life simply to give you a couple of cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds ideal, most of the cloud mining websites nowadays are just pretending to use your money for mining operations, they are in scams.

What's more, while there are a few 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 research since in the end, its your money.

A very 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. As such loans are ultra risky the interest rates are pretty high that initially seems like a fantastic thing. .

Well, since there's absolutely no actual collateral which retains the debtor liable for your loan more often than not these loans default and lenders are left with no money.

Weve tested out many loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this specific method.

Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites that promise to double your coins every couple of days or provide you unreal interest prices.

These websites really 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.

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

This is the way a Ponzi scheme functions. This will 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 more payments will be made and a great deal of people may get mad that they got scammed.

We've reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a site which we can say is  safe to invest in. Any website that promises you something that's too good to be true is probably just a facade for scammers trying to steal your coins. .

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How can you find out if a site is a scam to get yourself Easy, use our Bitcoin scam test tool to acquire a reasonable assumption about a sites legitimacy.

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 before 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 more. The procedure for claiming forked coins (aka forkcoins) is standard but demands an above fundamental understanding of how Bitcoin works. You can see 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 and take a commission but that could easily turn into a scam which runs off 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 which you get coins out of thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely Home Page to the general public, although in certain situations some conditions can employ.

For example, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops could news possibly be the highest value for some time method you can use to create money from your Bitcoins but they can be SUPER insecure. I'd recommend that you use these methods only after considerable research and a fantastic understanding of the claiming process.

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