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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 expenses, configurations, maintenance and so on are essentially exactly the same.

Sometimes youll encounter a website or mobile app that tells you they'll mine coins to you. Most of these services are basically useless and will often consume your apparatus computing power and battery life simply to offer you a few cents in return.

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

What's more, while there are a few legit sites out there, the money youd pay 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 remarkably common way of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest fee. Because such loans are ultra insecure the interest rates are pretty high which initially looks like a fantastic thing. .

Well, since there is no actual collateral which retains the borrower liable for the loan more often than not these loans default and lenders are abandoned with no money.

Weve tested out several loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of 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 claim to double your coins every couple of days or give you unreal interest rates.

These sites actually do is take money from new customers and use that money to pay off old users. This method makes a lot of buzz around the site that is apparently untrue and solvent.

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On top of that, they nearly always have some sort of referral app 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 the website will just go offline and the money is going to be gone. No more payments will be made and a great deal of people will get mad that they have scammed.

We've 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 website 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 to get yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a fair 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 in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin as well.

The first popular fork additional resources was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard however demands an above fundamental understanding of how Bitcoin works. You can view our fork claiming guide here.

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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 most non technical customers it would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and take a commission but this may easily turn into a scam that runs off with you money. .

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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a market.

Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are often 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 apply.

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 time method you can use to make money from your Bitcoins but they can be SUPER risky. I would advise you to utilize these approaches only after ample research and a good understanding of the claiming process.