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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 electricity expenses, configurations, maintenance and so on are essentially the same.

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

Furthermore, 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 study since in the end, its your money.

A remarkably common way of growing your Bitcoin riches is via Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners that lend their coins for an interest rate. As such loans are ultra insecure the interest rates are pretty high that initially seems like a good thing. .

Well, since there's absolutely no true collateral that holds the borrower liable for your loan more often than not these loans default and lenders are abandoned with no money.

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

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

These sites really do is take money from new users and use that money to pay off old users. This process creates a lot of buzz around the site that is apparently 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 the way a Ponzi scheme works. This will go on for around 3-4 months until one day that the website will just go offline and the money is going to be gone. No more payments will be produced and a great deal of people will get mad that they have scammed.

We've reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a website that we can say is  safe to invest in. Any website that promises you something that's too good to be true is probably only a facade for individuals 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 Read Full Article fair assumption about a websites validity.

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 also claim the new coin as well.

The first popular branch 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 requires an above basic understanding of the way Bitcoin works. You can view our fork claiming guide .

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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 users it would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that assert the coins for you and have a commission but that could easily turn into a scam which runs off with you money. .

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

Airdrops are similar to right here forks in the sense that you get coins from thin air. Airdrops are often utilized to spread the word about 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 create money from the Bitcoins but they can be SUPER insecure. I would recommend that you use these methods only after considerable research and a fantastic understanding of the claiming process.