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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. Another hassles of power costs, configurations, maintenance and so on are basically exactly the same.

Occasionally youll encounter a web site or cellular program that tells you they will mine coins to you. Most of these services are pretty much useless and will often consume your devices computing power and battery life simply to offer you a couple of cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds perfect, the majority of the cloud mining websites today are simply 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 likely better invested just buying Bitcoin. Of course we always urge you to do your own market research since in the end, its own money.

A very popular method of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest rate. Because these loans are ultra insecure the interest rates are high which initially seems like a good thing. .

Well, since there's absolutely no actual 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 at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this specific method.

Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every few days or provide you unreal interest prices.

These sites actually do is take money from new users and use that money to pay off old users. This method learn the facts here now makes a lot of buzz around the site that seems to be untrue and solvent.

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On top of that, they nearly always have some kind of referral program so that users 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 the website will just go offline and the money will be gone. No more payments will be made and a lot of people will get mad that they got scammed.

We've reviewed several Bitcoin investment sites in the past 3 years and have yet to find a site that we can state is  secure to invest in. Any website that promises you something that's too good to be true Continued is probably only a facade for scammers 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 test tool to get a reasonable assumption about a websites Full Report legitimacy.

Starting around August 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 more. The procedure for claiming forked coins (aka forkcoins) is standard however demands an above fundamental understanding of how Bitcoin works. You can view our fork claiming guide here.

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Keep 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 users it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you and take a commission but that may easily turn into a scam that 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 out of 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 situations some conditions can apply.

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

To conclude, forks and airdrops could possibly be the highest value for time method you can use to make money from your Bitcoins however they can be SUPER risky. I would advise you to use these approaches only after considerable research and a fantastic understanding of the claiming process.