Passive income: how much can you earn fork, with bitcoins

In August 2017, has occurred
the first major hardwork Bitcoin led to the emergence of Bitcoin Cash, but he only became a pioneer for a wave of copies that followed. Just before the end of last year there were 19 forks of Bitcoin, and according to experts this is just the beginning. There is an opinion that this year happens to 50 first forks of the blockchain. Fork means splitting the cryptocurrency into two different competing coins. The original blockchain remains intact and continues to work as before, however, the driving force of the new coin becomes the vision and motivation that is different from the original.

It should be noted that obtaining the «branched» savings that result from forks, fraught with risks and can cost not be worth the effort. Despite this, if you owned even a single bitcoin in your wallet before August 2017, today, you have the right to «free» coins, worth about $ 2,000. And as a growing number of pre-forked instances network this amount could potentially grow. However, many ppl were eventually Vice versa will be cheaper, and many will simply disappear as unnecessary.

More forks

The most popular of all forks of the network is Bitcoin Cash (BCH), which attempts to overcome the problems of bitcoin with high transaction fees and scaling solely by increasing the block size. Bitcoin Gold (BTG) – another cryptocurrency that was launched in November 2017 and the second in value among copies of Bitcoin.

Given the fact that to obtain the new coins will need to provide your private key, there is a possibility of losing all their BTC stored at the associated address. Before downloading the keys into the forks of the wallets we recommend that you move all your BTC to another wallet. If you will be doing it after all the forks you want «debit», you need to make one transfer, and to wait at least six confirmations.

The first is to think about getting any new coins worth your efforts. Each fork will have its own height of the separation unit, the rate of remuneration and availability on exchanges – these are the factors you need to consider and study in detail. The height of the separation unit relates to the date and time, when there was a fork, meaning that everyone who owned BTC at this time, had the opportunity to acquire new currency. The factor rewards will tell, in what proportion is awarded new coins – 1:1 or otherwise.

Balancing coin forks

Regardless of whether you want to get your bitcoins Pizza, Super Bitcoin, Bitcoin King, or from a dozen other forks, you can see your total balance of these crypto-currencies using such a service, as FindMyCoins. It will show the balance of all the newly minted coins in dollars at the current rate. If you do not want to disclose their address, it displays the value of all forks for 1 BTC (the screenshot shows only a part of the list):

Ways of obtaining coins

For those who don’t want, can’t or just too lazy to set up multiple wallets, to download blackany and alternately load private keys already have «multi-currency» purses with the help of which you can get coins most of the forks by downloading this purse for my keys from bitcoin. Of course, they should be treated with extreme caution, and before downloading the keys into the purse transfer with source address their bitcoins.

Of the many available methods, Bither is one of the most reliable services, primarily because it is presented on the website bitcoin.org. BitPie can also be used to transfer new coins into the appropriate wallets.

If you chose to work with the app Bither, paste your private key in the Advanced Options section. This will allow you to import your bitcoin wallet in the app. In the same section click «Get Fork Coin». Select the coins that interest you, and you will be prompted to enter the address BitPie – insert «Receive Address» in this field. Shortly after you will receive your new coins.

Repeat the process as many times as you need for all you are interested in forks. It is important to note that in order to sell coins for $ or other cryptocurrencies you will have to find a market that supports the new currency.

You can also get coins through the service Walleting Services, which will give you access to the fork 10 and take 10% for their services. To obtain coins you need to enter your private key (of course, after moving their coins from an address associated with it) and to use BTG, BCH and other forks for listing on their respective coins. Reviews about this service can be found here.

For tech-savvy users of Bitcoin developed by Jimmy song (Jimmy Song) offers a safer method which requires less trust and involves configuring two physical/virtual machines (one with Internet connection and the other without), launch the main software, import the private key and broadcast the transaction on the first computer is not connected to the Internet. More information can be found here.

The main thing to remember is that only you are responsible for the security of their coins. We have previously written
how to protect yourself before, during and after the fork. However, this article came even before «epidemie forks» and does not take into account their current diversity. Given that this year is planned the appearance of about fifty new copies of Bitcoin, it makes sense to remember or learn what it takes to not part with their BTC because of stupid mistakes.

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