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

Sometimes youll encounter a website or mobile program that tells you they will mine coins to you. Most of these services are pretty much useless and will usually consume your devices computing power and battery 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. When this sounds perfect, the majority of the cloud mining websites today are just pretending to use your money for mining operations, they are in fact scams.

Furthermore, while there are a couple of legit sites on the market, the money youd cover them to mine Bitcoin is probably 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 remarkably common way of growing your Bitcoin riches is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest fee. Because such loans are ultra insecure the interest rates are high that initially seems like a good thing. .

Well, since there's absolutely no true collateral which holds the borrower liable for your 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 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 that claim to double your coins every couple of days or give you unreal interest rates.

What these websites actually do is take money from new customers and use that money to pay off older users. This process creates a great deal of buzz around the site that seems to be untrue 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 works. This can go on for around 3-4 months until one day that the website will only go offline and the money is going to be gone. No more payments will be made and a great deal of people may get angry that they have scammed.

We have reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a site that we can state is  secure to invest in. Any site that guarantees you something that's too good to be true is probably just a facade for individuals trying to steal your coins. .

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How can you find out whether a website is a scam to get yourself Easy, utilize our Bitcoin scam test tool to get a fair assumption about a sites legitimacy.

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 Recommended Reading Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of how 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 many non technical users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that assert the coins for you and take a commission but that could 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 similar to forks in the sense that you get coins out of thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can employ.

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

To conclude, forks and airdrops may be the highest value for time method you can use to make money from your Bitcoins but they can be SUPER risky. I would recommend that you utilize these approaches only after considerable research and a fantastic understanding of the claiming process.