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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 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 ideal, the majority of the cloud mining sites today are simply pretending to use your money for mining operations, they are in scams.
Furthermore, while there are a couple of legit sites out there, the money youd cover them to mine Bitcoin is probably better invested just buying Bitcoin. Of course we always urge you to do your own market study since in the end, its your money.
A very common method of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest fee. As these loans are ultra insecure the interest rates are pretty high which initially looks like a good thing. .
Well, since there is no actual collateral which holds the borrower liable for the 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 stay away from 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 that promise to double your coins every couple of days or provide you unreal interest prices.
These sites really do is take money from new customers and use try this that money to pay off old users. This method makes 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 program so that consumers can bring their friends on board.
This is how a Ponzi scheme functions. This will go on for around 3-4 months until one day the website will only go offline and the money will be gone. No longer payments will be made and a great deal of people will get angry that they got scammed.
We've reviewed several Bitcoin investment websites in the past 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 likely just a facade for individuals trying to steal your coins. .
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How can you find out if a website is a scam for yourself Easy, use our Bitcoin scam evaluation tool to get a reasonable assumption about a websites validity.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking find more info  means a new Bitcoin clone emerges in 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 address soon after followed Bitcoin Gold, Bitcoin Diamond and much 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 could end up losing your Bitcoins. So for most non technical users it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you and have a commission but that may easily turn into a scam that 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's a market.
Airdrops are similar to forks in the sense that 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 general public, although in some cases some conditions can employ.
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 highest significance of time method you can use to make money from the Bitcoins but they can be SUPER insecure. I'd recommend that you use these methods only after considerable research and a fantastic understanding of the claiming process.