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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 cost less. The other hassles of power 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. When this sounds perfect, the majority of the cloud mining websites today are just pretending to use your money for mining operations, they're in scams.
What's more, while there are a couple of 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 study since in the end, its own money.
A remarkably common way of growing your Bitcoin wealth is through Bitcoin lending systems. 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 pretty high that initially looks like a fantastic thing. .
Well, since there is no actual collateral which holds the debtor 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 I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every couple of days or give you unreal interest rates.
These sites actually 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 is apparently legit and solvent.
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On top of this, they nearly always have some sort of referral app so that users can bring their you can try here friends on board.
This is how 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 more payments will be produced and a lot of people may get angry that they have scammed.
We've reviewed many Bitcoin investment websites in the previous 3 decades and have yet to find a website that we can state is  secure to invest in. Any site that guarantees 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 whether a website is a scam to get yourself Easy, utilize our Bitcoin scam evaluation tool to get a fair assumption about a sites validity.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone originates from 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 much more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above fundamental understanding of the way Bitcoin works. You can see our fork claiming guide .
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Bear 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 would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you and have a commission but this 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 similar to forks in the sense which you get coins from thin air. Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some situations 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 could possibly be the maximum value for some time method you can use to make money from your Bitcoins but they can be SUPER insecure. I'd recommend that you use these approaches only after considerable research and a fantastic understanding of the claiming process.