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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 essentially the same.

Occasionally youll encounter a website or cellular app that tells you they will mine coins to you. Most of these providers are basically useless and will often consume your apparatus computing power and battery life 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 ideal, most of the cloud mining sites nowadays are just pretending to use your money for mining operations, they're in fact scams.

Furthermore, while there are a couple of legit sites out there, the money youd cover them to mine Bitcoin is probably better invested just buying Bitcoin. Obviously 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 riches is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest rate. Because these loans are ultra insecure the interest rates are pretty high that initially looks like a good thing. .

Well, since there's absolutely no true collateral which retains the debtor liable for your loan more often than not these loans default and lenders are left 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 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 few 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 process creates a lot of buzz around the site that is apparently untrue and solvent.

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

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

We have reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a site which we can state is  safe to invest in. Any website that promises you something that is too good to be true is likely only a facade for scammers trying to steal your coins. .

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How can you find out if a website is a scam for yourself Easy, utilize our Bitcoin scam test tool to get 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 emerges from the existing Bitcoin. Every person who held Bitcoin before the fork can now claim the new coin as well.

The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The process for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of the way Bitcoin works. You can see our fork claiming guide .

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Bear 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 would better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that assert the coins for you and have a commission but this may easily turn into a scam which runs away 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's a market.

Airdrops are much like forks in the sense which you get coins from thin air. Airdrops are usually used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can employ.

For example, Byteball was distributed publicly to Bitcoin anonymous 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 create money from your Bitcoins however they can be SUPER insecure. I'd recommend Scrypt Coins that you utilize these approaches only after considerable research and a good understanding of the claiming process.