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

Sometimes youll encounter a website or cellular program that tells you they will mine coins to you. Most of these providers are pretty much useless and will often consume your devices computing power and battery just to give you a few cents in return.

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

Furthermore, while there are a few legit sites on the market, 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 research since in the end, its your money.

A remarkably common method of growing your Bitcoin wealth is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins for an interest fee. As such loans are ultra insecure the interest rates are pretty high that initially looks like a good thing. .

Well, since there's absolutely no actual collateral that holds the borrower liable for your loan more often than not these loans default and lenders are left without their money.

Weve tested out several loans at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this particular method.

Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that claim to double your coins every couple of days or give you unreal interest rates.

What these websites really do is take money from new users and use that money to pay off old users. This method creates a lot of buzz around the site that is apparently legit and solvent.

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On top of that, they nearly always have some kind of referral program so that consumers can bring their friends on board.

This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day that the site will just go offline and the money will be gone. No more payments will be made and a great deal of people may get angry that they have scammed.

We have reviewed several Bitcoin investment sites in the past 3 years and have yet to find a website which we can say is  safe to invest in. Any site that guarantees you something that is too good to be true is probably just a over here facade for scammers trying to steal your coins. .

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How can you find out if a site is a scam to get yourself Easy, use our Bitcoin scam evaluation 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 in the existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin too.

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

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Bear in mind that if youre you could look here not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many non technical users it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which assert the coins for you personally and have a commission but that may easily turn into a scam which runs off 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 much like forks in the sense that 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 public, although in certain cases some conditions can apply.

For example, Byteball was distributed freely to Bitcoin Extra resources 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 create money from your Bitcoins however they can be SUPER risky. I'd recommend that you use these approaches only after ample research and a good understanding of the claiming process.