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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. But this only means that the hardware will cost less. Another hassles of power costs, 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. 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.
Furthermore, while there are a couple of legit sites on the market, the money youd cover them to mine Bitcoin is probably 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 via Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest fee. Because such loans are ultra risky the interest rates are pretty high which initially seems like a good thing. .
Well, since there is no true collateral that retains the debtor liable for the loan more often than not these loans default and lenders are left without their money.
Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method it is wise to avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which promise to double your coins every couple of days or provide you unreal interest rates.
What these sites actually do is take money from new customers and use that money to pay off old users. This process creates a lot of buzz around the website which is apparently untrue and solvent.
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On top of that, they nearly 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 that the website will only go offline and the money is going to be gone. No longer payments will be produced and a lot of people may get angry that they got scammed.
We've reviewed several Bitcoin investment sites in the past 3 years and have yet to find a site that we can say is  safe to invest in. Any site that guarantees you something that's too good to be click over here now true is likely only a facade for scammers trying to steal your coins. .
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How can you find out if a website is a scam to get yourself Easy, utilize our Bitcoin scam test tool to get a fair 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 in the existing Bitcoin. Every person who held Bitcoin prior to 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 process for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of the way Bitcoin works. You can see our fork claiming guide here.
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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'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which assert the coins for you personally and take a commission but that 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 other cryptocurrencies assuming it's 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 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 publicly to Bitcoin users depending on the click this link 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 risky. I would advise you to utilize these methods only after ample research and a fantastic understanding of the claiming process.