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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. Another hassles of power costs, 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, most of the cloud mining sites nowadays are just pretending to use your money for mining operations, they're in fact scams.
Furthermore, while there are a few legit sites on the market, the money youd pay them to mine Bitcoin is probably better invested just buying Bitcoin. Of course we always urge you to do your own market research since in the end, its own money.
A remarkably popular way of growing your Bitcoin wealth is via Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners that lend their coins to get an interest rate. Because such loans are ultra risky the interest rates are pretty high which initially seems like a fantastic thing. .
Well, since there's absolutely no true collateral that retains the borrower liable for the loan more often than not these loans default and lenders are abandoned with no money.
Weve tested out many loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are sites which promise to double your coins every couple of days or provide you unreal interest rates.
What these sites really do is take money from new users and use that money to pay off older users. This process makes 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 program so that users can bring their friends on board.
This is how a Ponzi scheme functions. This can go on for around 3-4 months until one day the site will just go offline and the money will be gone. No longer payments will be produced and a lot of people will get angry that they have scammed.
We've reviewed several Bitcoin investment websites in the previous 3 years and have yet to find a check my reference site that we can say is  safe to invest in. Any site that guarantees you something that is 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 test tool to get a reasonable 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 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 much more. The procedure for claiming forked coins (aka forkcoins) is standard but demands an above basic understanding of how Bitcoin works. You can view 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 would better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies that assert the coins for you useful reference and take a commission but this could easily turn into a scam which runs away with you money. . find this
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Once you maintained 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 that you get coins out of thin air. Airdrops are often utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can employ.
By way of instance, 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 the Bitcoins however they can be SUPER risky. I would recommend that you utilize these approaches only after ample research and a fantastic understanding of the claiming process.