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

Sometimes youll encounter a website or cellular program that tells you they'll mine coins to you. The majority of these services are basically useless and will usually consume your devices computing power and battery life simply 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 websites nowadays are simply pretending to use your money for mining operations, they are in scams.

What's more, while there are a few 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 study since in the end, its your money.

A very common way of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest fee. Because such loans are ultra risky the interest rates are pretty high that initially looks like a good thing. .

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

Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.

Another method it is wise to 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 provide you unreal interest rates.

What these websites actually do is take money from new users and use that money to pay off older users. This process makes a lot of buzz around the website which is apparently legit and this page 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 the way 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 will be gone. No longer payments will be produced and a great deal of people may get mad that they have scammed.

We've reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a site that we can say is  secure to invest in. Any website that promises you something that is too good to be true is probably just 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 evaluation tool to get a reasonable assumption about a websites legitimacy.

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 too.

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 dig this forkcoins) is standard but requires an above basic 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 users it would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which assert the coins for you personally and have a commission but this could 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 that you get coins from thin air. Airdrops are often used to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in certain cases some conditions can apply.

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

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