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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. However, this only means that the hardware will cost less. Another hassles of power expenses, configurations, maintenance and so on are essentially exactly the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. While this sounds ideal, the majority of the cloud mining sites today are just pretending to use your money for mining operations, they're in scams.
Furthermore, while there are a few legit sites on the market, the money youd pay them to mine Bitcoin is likely better invested just buying Bitcoin. Of course we always urge you to do your own market research since in the end, its your money.
A very popular method of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest fee. Because such loans are ultra insecure the interest rates are pretty high that initially seems like a good thing. .
Well, since there's absolutely no actual collateral which retains the borrower liable for your loan more often than not these loans default and lenders are left with no money.
Weve tested out several loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every couple of days or give you unreal interest rates.
These websites actually do is take money from new customers and use that money to pay off old users. This process makes a great deal of buzz around the site that is apparently legit and solvent.
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On top of this, they nearly always have some sort of referral program so that consumers can bring their friends on board.
This is the way a Ponzi scheme functions. This can go on for around 3-4 months until one day the website will only go offline and the money is going to be gone. No more payments will be made and a lot of people will get mad that they have scammed.
We have reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a site that we can say is  safe to invest in. Any website that guarantees you something that's too good to be true is likely just a facade for scammers trying to steal your coins. .
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How can you find out whether a site is a scam for yourself Easy, utilize 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 originates in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin too.
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 demands an above basic understanding of how Bitcoin works. You can view our fork claiming guide .
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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you could end up losing her latest blog your Bitcoins. So for most non technical users it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and have a commission but this 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 see this site on an exchange for Bitcoin or other cryptocurrencies assuming it's a market.
Airdrops are much like 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 some cases some conditions can employ.
By way of example, 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 time method you can use to make money from your Bitcoins however they can be SUPER insecure. I would advise you to utilize these approaches only after ample research and a good understanding of the claiming process.