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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 cost less. The other hassles of power expenses, configurations, maintenance and so on are basically the same.

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Sometimes youll encounter a website or cellular app that tells you they will mine coins to you. Most of these providers are basically useless and will often consume your devices computing power and battery life just 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, most of the cloud mining sites nowadays are just pretending to use your money for mining operations, they are in scams.

What's more, while there are a couple of legit sites on the market, the money youd pay 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 method of growing your Bitcoin wealth is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest rate. As these loans are ultra risky the interest rates are high which initially looks like a fantastic thing. .

Well, since there is no true collateral that holds the debtor liable for the loan more often than not these loans default and lenders are abandoned 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 claim to double your coins every few days or give you unreal interest rates.

These websites actually do is take money from new customers and use that money to pay off old users. This process makes a great deal of buzz around the website which is apparently legit and solvent.

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

This is the way a Ponzi scheme works. This will go on for around 3-4 months until one day that the website will just go offline and the money will be gone. No longer payments will be made and a lot of people may get angry that they have scammed.

We've reviewed several Bitcoin investment sites in the previous 3 decades and have yet to find a website which we can say have a peek at these guys is  safe to invest in. Any site that promises you something that's too good to be true is probably only a facade for scammers trying to steal your coins. .

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How can you find out if a website is a scam to get yourself Easy, utilize our Bitcoin scam evaluation tool to acquire 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 originates in the existing Bitcoin. Every person who held Bitcoin before 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 more. The procedure 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 here.

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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'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that assert the coins for you personally and have a commission but that could easily turn into a scam that runs off with you money. .

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Once you maintained a forkcoin you can important site sell it on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.

Airdrops are much like forks in the sense which you get coins out of thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can employ.

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

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

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