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

Occasionally youll encounter a web site or mobile program that tells you they'll mine coins for you. Most of these services are pretty much useless and will often consume your devices computing power and battery life just to give you a couple of 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 are in scams.

What's more, while there are a few legit sites out there, the money youd pay them to mine Bitcoin is probably 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 through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest rate. As such loans are ultra risky the interest rates are pretty high which initially looks like a fantastic thing. .

Well, since there is no true collateral which retains the debtor liable for your loan more often than not these loans default and lenders are left without their money.

Weve tested out many loans at 99Bitcoins, and they all 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 few days or give you unreal interest prices.

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

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On top of that, they almost always have some sort of referral program so that users can bring their friends on board.

This is the way a Ponzi scheme functions. This will go on for around 3-4 months until one day that the website will only go offline and the money will be gone. No more payments will be produced and a lot of people may get mad that they got scammed.

We've reviewed several Bitcoin investment websites in the previous 3 decades and have yet to find a site that we can state is  secure to invest in. Any website that guarantees you something that is too good to be true is probably only a facade for scammers trying to steal your coins. .

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How can you find out whether a website is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to acquire a reasonable assumption about a websites validity.

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 before the fork can now claim the new coin too.

The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of the way you could try here Bitcoin works. You can see our fork claiming guide .

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Bear in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing your Bitcoins. So for many non technical users it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and have a commission but that could easily turn into a scam that runs off with you money. .

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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.

Airdrops are similar to forks in the sense that you get coins from thin air. Airdrops are usually used 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 instance, 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 create money from your Bitcoins but they can be SUPER insecure. I'd recommend that you use these approaches only after considerable research and a good understanding of the claiming process.