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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 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 devices computing power and battery 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, the majority of the cloud mining websites today are simply pretending to use your money for mining operations, they're in fact 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. 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 via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest fee. As such loans are ultra risky the interest rates are high which initially seems like a fantastic 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 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 particular 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 method creates a great deal of buzz around the website which seems to be legit and solvent.

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On top of that, 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 site will just go offline and the money is going to be gone. No more payments will be produced and a great deal of people will get angry that they got scammed.

We've reviewed several Bitcoin investment websites in the past 3 years and have yet to find a website that we can state is  safe to invest in. Any site that promises you something that's too good to be true is likely 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 test tool to acquire a reasonable assumption about a websites legitimacy.

Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means his comment is here a new Bitcoin clone emerges in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also 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 but requires an above fundamental understanding of the way Bitcoin works. You can view 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 keep your Bitcoins secure. Other alternatives include companies which assert the coins for you and take a commission but this could 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 alternative cryptocurrencies assuming it's a market.

Airdrops are similar to forks in the sense that you get click to read coins out of thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some cases 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 value for time method you can use to make money from your Bitcoins however they can be SUPER risky. I'd advise you to use these approaches only after considerable research and a fantastic understanding of the claiming process.