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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 costs, configurations, maintenance and so on are essentially the same.

Occasionally youll encounter a website or cellular app that tells you they'll mine coins for you. The majority of these services are pretty much useless and will often consume your devices computing power and battery life just to offer you a couple of 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 simply 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 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 common method of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest rate. Because 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 retains the borrower liable for the loan more often than not these loans default and lenders are left with no money.

Weve tested out several loans 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 websites that promise to double your coins every couple of days or provide you unreal interest rates.

These websites really do is take money from new users and use that money to pay off older users. This method makes a lot of buzz around the site that 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 consumers can bring their friends go to my site on board.

This is the way a Ponzi scheme functions. This can go on for around 3-4 months until one day that the website will only go offline and the money will be gone. No longer payments will be made and a great deal of people may get mad that they got scammed.

We've reviewed several Bitcoin investment sites in the past 3 years and have yet to find a website which we can state is  safe to invest in. Any site that guarantees you something that is too good to be true is likely just a facade for scammers trying to steal your coins. .

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How can you find out whether a site is a scam to get yourself Easy, use our Bitcoin scam test tool to acquire a reasonable assumption about a websites 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 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 process for claiming forked coins (aka forkcoins) is standard however demands an above basic understanding of the way 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 might end up losing your Bitcoins. So for many non technical customers it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and have a commission but that may easily turn into a scam which runs off with you money. .

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

Airdrops are similar to forks in the sense which you get coins from thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain cases 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 highest significance of time method you can use to make money from the Bitcoins but they can be SUPER risky. I'd recommend that you use these methods only after considerable research and a fantastic understanding of the claiming process.