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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. But this only means that the hardware will cost less. The other hassles of power expenses, configurations, maintenance and so on are basically exactly the same.
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 nowadays are simply pretending to use your money for mining operations, they are in scams.
Furthermore, while there are a few legit sites on the market, the money youd pay 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 very 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 seems like a fantastic thing. .
Well, since there's absolutely no true collateral that holds the borrower liable for the loan more often than not these loans default and lenders are abandoned without their 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 it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites that promise to double your coins every couple of 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 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 kind of referral app 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 that the site will just go offline and the money will be gone. No more payments will be made and a great deal of people may get mad that they have scammed.
We've reviewed several Bitcoin investment sites in find this the past 3 years and have yet to find a site which we can state is  secure to invest in. Any website that guarantees you something that is 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 if a site is a scam to get yourself Easy, utilize our Bitcoin scam test 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 in the existing Bitcoin. Every person who held Bitcoin before the fork can now claim the new coin as well.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard but demands an above fundamental understanding of how Bitcoin works. You can view our fork claiming guide here.
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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. So for most non technical customers it'd better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you and take a commission but this could easily 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 from thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain cases 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 time method you can use to make money from the Bitcoins however they can be SUPER insecure. I would recommend that you use these approaches only after ample research and a good understanding of the claiming process.