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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. Another hassles of electricity costs, configurations, maintenance and so on are essentially 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 just 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 likely better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its your money.
A very common method of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners that lend their coins for an interest fee. Because these loans are ultra insecure the interest rates are high that initially seems like a good thing. .
Well, since there's absolutely no true 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 many loans at 99Bitcoins, and they all 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 claim to double your coins every few days or provide you unreal interest rates.
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 untrue and solvent.
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On top of this, they almost always have some kind of referral app so that users can bring their friends on board.
This is the way a Ponzi scheme functions. 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 produced and a great deal of people will get mad that they have scammed.
We've reviewed several Bitcoin investment sites in the previous 3 decades and have yet to find a site that we can state is  safe to invest in. Any site that guarantees you something that's 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 site is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to acquire a reasonable assumption about a sites legitimacy.
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 prior to 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 much more. The procedure for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of how Bitcoin works. You can see 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 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 assert the coins for you personally and have a commission but that may easily turn into a scam that runs away with you money. .
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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or alternative cryptocurrencies assuming it's a useful site 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 general public, although in certain cases some conditions can apply.
By way of instance, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops may be the highest significance of some time method you can use to make money from the Bitcoins but they can be SUPER risky. I would recommend that you utilize these approaches only after considerable research and a fantastic understanding of the claiming process.