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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. But this only means that the hardware will probably cost less. Another hassles of power expenses, configurations, maintenance and so on are essentially the same.

Sometimes youll encounter a web site or mobile program that tells you they will mine coins for you. The majority of these services are pretty much useless and will usually consume your devices 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 ideal, most of the cloud mining websites nowadays are just pretending to use your money for mining operations, they are in fact scams.

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

A very common method of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest fee. As these 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 the loan more often than not these loans default and lenders are left without their money.

Weve tested out many 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 High 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 websites really do is take money from new users and use that money to pay off old users. This process creates a great deal of buzz around the site that find out here is apparently legit and solvent.

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On top of this, they nearly always have some kind of referral app so that users 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 the website will only go offline and the money will be gone. No more payments will be made and a great deal of people will get angry that they have scammed.

We have reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a website that we can state is  safe to invest in. Any website that promises you something that is 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 website is a scam to get yourself Easy, use our Bitcoin scam test 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 from 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 much more. The process 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 .

Getting The Multi Coin Wallet To Work

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 customers it'd 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 may easily turn into a scam which runs away 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 has a market.

Airdrops are similar to forks in the sense that you get coins out of thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can apply.

By way of 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 time method you can use to create money from your Bitcoins however they can be SUPER insecure. I would recommend that you use these approaches only after ample research and a fantastic understanding of the claiming process.