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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. However, this only means that the hardware will cost less. The other hassles of electricity expenses, configurations, maintenance and so on are basically 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 basically useless and will usually consume your devices computing power and battery 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 perfect, most of the cloud mining sites today are just 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 research since in the end, its your money.

A very popular method of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest fee. As these loans are ultra insecure the interest rates are pretty high that initially seems like a fantastic thing. .

Well, since there is no true collateral that retains the debtor liable for the loan more often than not these loans default and lenders are left without their money.

Weve tested out many loans at 99Bitcoins, and they 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 couple of days or give you unreal interest rates.

What these websites really do is take money from new customers and use that money to pay off old users. This process makes a lot of buzz around the site that seems to be legit and solvent.

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On top of that, they almost always have some sort of referral app 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 only go offline and the money will be gone. No longer payments will be produced More about the author and a lot of people may get mad that they have scammed.

We have reviewed many Bitcoin investment websites in the past 3 decades and have yet to find a site which we can say is  secure to invest in. Any site that guarantees 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 to get yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a reasonable assumption about a websites validity.

Starting around August 2017 Bitcoin began forking into other coins. my review here In a nutshell, forking  means a new Bitcoin clone originates from the existing Bitcoin. Every person who held Bitcoin before the fork can now claim the new coin too.

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 requires an above fundamental understanding of how Bitcoin works. You can view our fork claiming guide .

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Bear in mind that if youre not sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. So for most non technical users it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you and have a commission but that may 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 forks in the sense that 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 some cases some conditions can employ.

By way of example, 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 some time method you can use to make money from your Bitcoins however they can be SUPER risky. I would recommend that you use these methods only try this web-site after considerable research and a good understanding of the claiming process.