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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. However, this only means that the hardware will probably cost less. The other hassles of electricity costs, configurations, maintenance and so on are basically the same.

Sometimes youll encounter a website or mobile app 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 life 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 perfect, the majority of the cloud mining websites nowadays are just pretending to use your money for mining operations, they are in scams.

Furthermore, while there are a few legit sites on the market, the money youd cover them to mine Bitcoin is probably 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 popular 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 to get an interest rate. As these loans are ultra risky the interest rates are pretty high that initially looks like a good thing. .

Well, since there's absolutely no actual collateral which holds the borrower liable for your loan more often than not these loans default and lenders are abandoned without their 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 it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites 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 older users. This method makes a lot of buzz around the website which is apparently untrue and solvent.

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On top of this, 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 can go on for around 3-4 months until one day the website will only 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  safe to invest in. Any site that guarantees you something that's too good to be true is likely only a facade for individuals trying to steal your coins. .

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

Starting around August 2017 Bitcoin began forking into other check out here coins. In a nutshell, forking  means a new Bitcoin clone originates from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin as well.

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 however requires an above fundamental understanding of the way Bitcoin works. You can view our fork claiming guide here.

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Bear 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 users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include see this companies that claim the coins for you and have a commission but that could 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 has a market.

Airdrops are similar to forks in the sense that you get coins from 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 freely to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops could possibly be the maximum value for time method you can use to create money from the Bitcoins however they can be SUPER insecure. I'd recommend that you utilize these methods only after ample research and a good understanding of the claiming process.