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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 probably cost less. Another hassles of electricity costs, configurations, maintenance and so on are basically exactly the same.

Sometimes youll encounter a website or mobile app that tells you they'll mine coins to you. Most of these providers are basically useless and will often consume your apparatus computing power and battery simply to give 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, the majority of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they're in scams.

What's more, while there are a few legit sites out there, 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 way of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest rate. As 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 debtor liable for the loan more often than not these loans default and lenders are abandoned with no money.

Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.

Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every few days or give you unreal interest rates.

What these sites actually do is take money from new users and use that navigate to this site money to pay off older users. This process makes a great deal of buzz around the site that seems to be legit and solvent.

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

This is how a Ponzi scheme functions. This can go on for around 3-4 months until one day that the site will just go offline and the money is going to be gone. No longer payments will be made and a great deal of people will get mad that they have scammed.

We've reviewed many 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 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 whether a site is a scam for yourself Easy, use our Bitcoin scam evaluation 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 prior to the fork can now also 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 fundamental understanding of how Bitcoin works. You can see our fork claiming guide here.

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Bear in mind that if youre More hints 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 keep your Bitcoins secure. Other alternatives include companies which claim the coins for you personally and take a commission but this may easily turn into a scam that runs off with you money. .

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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it has a go now market.

Airdrops are much like forks in the sense which 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 cases some conditions can apply.

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

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