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

Sometimes youll encounter a website or mobile program that tells you they'll mine coins to you. Most of these services are pretty much useless and will usually consume your apparatus computing power and battery 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. When this sounds perfect, most of the cloud mining sites nowadays are simply pretending to use your money for mining operations, they're in fact scams.

What's more, while there are a few legit sites out there, the money youd cover 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 way of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect borrowers that 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 that initially looks like a fantastic thing. .

Well, since there's absolutely no actual collateral which retains the debtor liable for your loan more often than not these loans default and lenders are left with no money.

Weve tested out many loans here at 99Bitcoins, and they all 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 that promise to double your coins every couple of days or provide you unreal interest rates.

What these sites really do is take money from new customers and use that money to pay my company off older users. This process creates a lot of buzz around the website which is apparently legit Website and solvent.

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

This is how 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 is going to be gone. No longer payments will be made and a great deal of people will get angry that they got scammed.

We've reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a website that we can state is  safe to invest in. Any website that promises 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, utilize our Bitcoin scam test tool to get a fair assumption about a websites legitimacy.

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 branch 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 demands an above fundamental understanding of the way Bitcoin works. You can view our fork claiming guide .

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Keep 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 safe. Other alternatives include companies that claim the coins for you personally and take a commission but this could easily turn into a scam that runs away with you money. .

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

Airdrops are much like 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 public, although in certain cases some conditions can employ.

For instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops may be the maximum value for some time method you can use to make money from your Bitcoins however they can be SUPER insecure. I would recommend that you utilize these approaches only after considerable research and a fantastic understanding of the claiming process.