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

Sometimes youll encounter a web site or cellular app that tells you they'll mine coins to you. Most of these providers 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. When this sounds perfect, the majority of the cloud mining sites nowadays are just pretending to use your money for mining operations, they are in scams.

Furthermore, while there are a couple of legit sites out there, the money youd cover them to mine Bitcoin is probably better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its own money.

A remarkably popular 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 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 true collateral which retains the borrower liable for the loan more often than not these loans default and lenders are left with no money.

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

Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every couple of days or give you unreal interest prices.

These websites actually do is take money from new users and use that money to pay off old users. This process creates 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 app so that consumers 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 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 mad that they have scammed.

We've reviewed several Bitcoin investment sites in the previous 3 years and have yet to find a site that we can say is  secure to invest in. Any site that promises you something that's too good to be true is probably just a facade for individuals trying to steal your coins. .

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How can you find out if a site is a scam to get yourself Easy, utilize our Bitcoin scam test tool to acquire 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 clone originates from the existing Bitcoin. Every person who held Bitcoin prior to check my reference the fork can now claim the new coin as well.

The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of how 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 most non technical customers it would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies which claim the coins for you and have a commission but that could easily turn into a scam which runs away with you money. .

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Once you claimed a forkcoin you can sell it weblink on an exchange for Bitcoin or other cryptocurrencies assuming it's 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 about a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can apply.

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 highest significance of some time method you can use to make money from your Bitcoins however they can be SUPER insecure. I'd advise you to use these methods only after considerable research and a fantastic understanding of the claiming process.