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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. However, this only means that the hardware will probably cost less. The other hassles of power expenses, configurations, maintenance and so on are basically the same.
Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds perfect, most of the cloud mining websites today are just pretending to use your money for mining operations, they are in fact scams.
What's more, 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. Of course we always urge you to do your own market study since in the end, its own money.
A very common method of growing your Bitcoin riches is through Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners that lend their coins for an interest fee. Because such loans are ultra risky the interest rates are high which initially looks like a fantastic thing. .
Well, since there is no true collateral which retains the debtor liable for your loan more often than not these loans default and lenders are left with no money.
Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which claim to double your coins every couple of days or provide 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 method creates 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 users can bring their friends on board.
This is the way a Ponzi scheme works. This will go on for around 3-4 months until one day the site will just 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 which we can state is  secure to invest in. Any website that guarantees you something that's too good to be true is likely only a facade for individuals trying to steal your coins. .
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How can you find out whether a site is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to get 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 originates in the existing Bitcoin. Every person who held Bitcoin prior to the fork can now also claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and get redirected here more. The procedure for claiming forked coins (aka forkcoins) is standard but demands an above fundamental understanding of the way 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 could end up losing your Bitcoins. So for most non technical users it would better to pass on a fork and maintain your Bitcoins safe. Other alternatives include companies that claim the coins for you personally and take a commission but that could easily turn into a scam that runs off 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 that you get coins from thin air. Airdrops are often used to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in some situations some conditions can apply.
By way of example, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the highest value for time method you can use to make money from your Bitcoins however they can be SUPER insecure. I'd recommend that you use these methods only after ample research and a fantastic understanding of the claiming process.