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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 costs, 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 to you. Most of these services are pretty much useless and will usually 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. While this sounds ideal, the majority of the cloud mining websites today are just pretending to use your money for mining operations, they are in fact scams.

What's more, while there are a few 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 study since in the end, its own money.

A very popular method of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins for an interest fee. Because these loans are ultra insecure the interest rates are pretty high that initially looks like a good thing. .

Well, since there's absolutely no true collateral which retains the debtor liable for the loan more often than not these loans default and lenders are abandoned without their money.

Weve tested out several loans 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 which promise to double your coins every few days or provide you unreal interest rates.

What these sites really do is take money from new users and use that money to pay off old users. This process makes a lot of buzz around the website which is apparently untrue and solvent.

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On top of this, they nearly always have some sort of referral app so that users can bring their friends on board.

This is the way a Ponzi scheme works. This can click for source 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 lot of people will get mad that they got scammed.

We've reviewed several Bitcoin investment websites in the past 3 decades and have yet to find a site which we can say is  secure 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, 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 a new Bitcoin clone emerges in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin as well.

The first popular branch 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 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 his response when claiming a forkcoin why not find out more you might end up losing your Bitcoins. So for many non technical users it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that assert the coins for you personally and have a commission but that may easily turn into a scam which runs away with you money. .

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Once you claimed 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 utilized 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 example, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops could possibly be the maximum significance of some time method you can use to make money from the Bitcoins but they can be SUPER insecure. I'd advise you to use these approaches only after considerable research and a good understanding of the claiming process.