Scrypt Coins for Beginners
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. Another hassles of electricity expenses, 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 are in fact scams.
What's more, 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. Of course we always urge you to do your own market study since in the end, its own money.
A very common way of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest rate. As such loans are ultra risky the interest rates are high which initially looks like a good thing. .
Well, since there is no true collateral that retains the borrower liable for your loan more often than not these loans default and lenders are left with no money.
Weve tested out several 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 High Yield Investment Programs also known as HYIPs. These are websites that promise to double your coins every couple of days or give you unreal interest rates.
What these websites really do is take money from new customers and use that money to pay off old users. This method creates a lot of buzz around the website which is apparently untrue and solvent.
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On top of that, they nearly always have some kind of referral program so that users can bring their friends on board.
This is how a Ponzi scheme works. This can go on for around 3-4 months until one day the website will only go offline and the money will be gone. No more payments will be produced and a great deal of people will get mad that they got scammed.
We've reviewed many Bitcoin investment websites in the previous 3 decades and have yet to find a website that we can say is  safe to invest in. Any site that promises you something that is too good to be true is likely only a facade for scammers trying to steal your coins. .
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How can you find out if a website is a scam for yourself Easy, utilize our Bitcoin scam test tool to get a fair 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 prior to the fork can now also claim the new coin too.
The first popular fork was informative post Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The process for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of the way Bitcoin works. You can view our fork claiming guide .
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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. So for many non technical customers it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and have a commission but that could easily turn into a scam that runs away with you money. .
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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's 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 in a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can employ.
For 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 significance of time method you can use to create money from your Bitcoins however they can be SUPER risky. I'd recommend that you use these approaches only after considerable research and a fantastic understanding of the claiming process.