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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. Another hassles of electricity expenses, configurations, maintenance and so on are basically the same.

Sometimes youll encounter a web site or mobile program that tells you they will mine coins to you. Most of these providers are pretty much 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 ideal, the majority of the cloud mining sites nowadays are just pretending to use your money for mining operations, they are in scams.

Furthermore, while there are a few legit sites on the market, the money youd pay them to mine Bitcoin is probably better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its your money.

A remarkably popular way of growing your Bitcoin wealth is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest rate. Because these loans are ultra insecure the interest rates are high which initially looks like a fantastic thing. .

Well, since there's absolutely no true 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 several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of 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 promise to double your coins every few days or give you unreal interest prices.

These sites actually do is take money from new customers and use that money to pay off older users. This method makes a great deal of buzz around the site that is apparently legit and solvent.

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

This is how a Ponzi scheme functions. This will go on for around 3-4 have a peek here months until one day the site will only go offline and the money is going to be gone. No more payments will be produced and a lot of people may get mad that they have scammed.

We've reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a website which we can say is  safe to invest in. Any website that promises you something that is too good to be true is likely just a facade for individuals trying to steal your coins. .

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How can you find out if a site is a scam for yourself Easy, use our Bitcoin scam evaluation tool to acquire a reasonable assumption about a sites legitimacy.

Starting around August see here 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 prior to the fork can now claim the new coin as well.

The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure for claiming forked coins (aka forkcoins) is standard but demands an above fundamental 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 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 and take a commission but that may easily turn into a scam that runs off 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 often 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 could possibly be the maximum value for time method you can use to make money from your Bitcoins but they can be SUPER risky. I'd advise you continue reading this to use these approaches only after ample research and a fantastic understanding of the claiming process.