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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 probably cost less. The other hassles of electricity costs, configurations, maintenance and so on are essentially exactly the same.

Occasionally youll encounter a website or mobile program that tells you they'll mine coins to you. Most of these services are pretty much useless and will often consume your devices computing power and battery just 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, the majority of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they are in fact scams.

Furthermore, while there are a few 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 method of growing your Bitcoin wealth is through 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 which initially looks like a good thing. .

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

Weve tested out several loans here at 99Bitcoins, and they 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 which promise to double your coins every few days or give you unreal interest prices.

What these websites really do is take money from new users and use that money to pay off older users. This process creates a great deal of buzz around the site that seems to be legit and solvent.

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On top of this, they nearly always have some kind of referral app so that users 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 the site will only go offline and the money will be gone. No more payments will be made and a lot of people may get angry that they have scammed.

We have reviewed many Bitcoin investment sites in the previous 3 years and have yet to find a website that we can say is  secure to invest in. Any site that guarantees you something that is too good to be true is probably only a facade for scammers 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 evaluation tool to acquire a reasonable assumption about a sites 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 also claim the new coin as well.

The first popular fork 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 see our fork claiming guide .

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Keep in mind that check over here 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 keep your Bitcoins secure. Other alternatives include companies which claim the coins for you and take a commission but that may easily turn into a scam that 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's a market.

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

For instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops could possibly be the highest significance of some time method you can use to make money from your Bitcoins however they can be SUPER insecure. I'd recommend that you use these approaches only after considerable research and a good understanding of the claiming process.