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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 expenses, configurations, maintenance and so on are essentially 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 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 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 to get an interest fee. As these loans are ultra risky 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 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 old users. This process creates a great deal of buzz around the website which seems to be legit and solvent.
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On top of this, they almost always have some sort of referral app so that users 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 the website will only go offline and the money is going to be gone. No more payments will be produced and a great deal of people may get angry that they have scammed.
We've reviewed several Bitcoin investment sites in the past 3 years and have yet to find a website which we can say is  safe to invest in. Any website that guarantees you something that's too good to be true is probably only a facade for individuals 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 websites 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 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 more. The procedure for claiming forked coins (aka forkcoins) is standard however demands an above fundamental understanding of over at this website the way 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 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 that assert the coins for you and take a commission but that could easily turn into a scam which runs off 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 has a market.
Airdrops are much like 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 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 significance of time method you can use to make money from your Bitcoins however they can be SUPER insecure. I'd advise you to use these methods only after ample research and a good understanding of the claiming process.