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

Occasionally youll encounter a website or mobile program that tells you they will mine coins to you. Most of these services are basically useless and will usually consume your devices computing power and battery life just to offer 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 sites today are just pretending to use your money for mining operations, they're in fact scams.

What's more, while there are a few legit sites on the market, the money youd cover 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 very popular method of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest rate. Because such loans are ultra insecure the interest rates are pretty high that initially looks like a fantastic thing. .

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

Weve tested out several 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 that claim to double your coins every few days or give you unreal interest prices.

These websites actually do is take money from new customers and use that money to pay off old users. This method creates a lot of buzz around the website which seems to be untrue and solvent.

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On top of this, they almost always have some sort of referral program so that users can bring their friends on board.

This is how a Ponzi scheme functions. This will site 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 made and a great deal of people may get mad that they have scammed.

We've reviewed many Bitcoin investment websites in the previous 3 decades and have yet to find a site which we can say 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, use our Bitcoin scam evaluation tool to get a 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 in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin as well.

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 but requires an above fundamental understanding of the way Bitcoin works. You can view our fork claiming guide here.

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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 customers it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which assert the coins for you and take a commission but this may easily more turn into a scam which runs away with you money. .

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

Airdrops are similar to forks in the sense which you get coins out of thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases some conditions can apply.

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

To conclude, forks and airdrops could possibly be the maximum value for time method you can use to create money from the Bitcoins but they can be SUPER risky. I'd recommend that you use these methods only after considerable research and a fantastic understanding of the claiming process.