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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 cost less. The other hassles of electricity costs, configurations, maintenance and so on are basically exactly the same.

Occasionally youll encounter a website or mobile program that tells you they will mine coins for you. Most of these providers are pretty much useless and will often consume your devices computing power and battery life just to offer you a couple of cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds ideal, the majority of the cloud mining sites nowadays are simply pretending to use your money for mining operations, they are in scams.

What's more, while there are a couple of legit sites out there, the money youd pay 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 very popular 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 fee. As these loans are ultra insecure the interest rates are high that initially looks like a fantastic thing. .

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

Weve tested out many loans 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 High Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every couple of days or give you unreal interest rates.

What these websites actually do is take money from new users and use that money to pay off older users. This method creates a lot 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 program so that consumers 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 site will just go offline and the money is going to be gone. No more payments will be produced and a lot of people may get angry that they have scammed.

We have reviewed several Bitcoin investment sites in the previous 3 decades and have yet to find a site that we can state is  secure to invest in. Any site that guarantees 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 to get yourself Easy, utilize our Bitcoin scam test tool to get 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 More Info 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 branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of the way Bitcoin works. You can see our fork claiming guide .

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Keep 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 customers it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you and have a commission but this may easily turn into a scam that runs away 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's a market.

Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases 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 may be the maximum significance of some time method you can use to make money from your Bitcoins but they can be SUPER insecure. I'd advise you to utilize these approaches only after ample research and a fantastic understanding of the claiming process.