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If you want to use your exercise bike to increase your aerobic fitness, try doing intervals. After a warmup, go as fast as you can for 30 seconds, than slow way down for a minute and repeat. You can use other interval schemes as well. Start with 5 intervals and work up to 10 or 15. Cool down with some easy pedaling. Exercise bikes are great for intervals, though you can do them walking or running or on other equipment.