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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 cost less. Another hassles of power expenses, 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 ideal, most of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they're in scams.
What's more, while there are a few 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 own money.
A very common method of growing your Bitcoin riches is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest rate. As these loans are ultra insecure the interest rates are pretty high that initially seems like a good thing. .
Well, since there's absolutely no true collateral that retains the debtor liable for the loan more often than not these loans default and lenders are abandoned with no money.
Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method it is wise to avoid are coin doublers and High 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 prices.
These sites actually 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 is apparently legit and solvent.
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On top of that, they nearly always have some sort of referral app so that consumers 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 that the site will just go offline and the money is going to be gone. No more payments will be made and a lot of people may get angry that they have scammed.
We have reviewed many Bitcoin investment sites in the past 3 years and have yet to find a site that we can state is  safe to invest in. Any site that guarantees you something that is too good to be true is likely 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 for yourself Easy, use our Bitcoin scam test tool to acquire a reasonable assumption about a websites legitimacy.
Starting around August 2017 Bitcoin began forking go to my site into other coins. In a nutshell, forking  means a new Bitcoin clone emerges from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The process for claiming forked coins (aka forkcoins) is standard however demands an above basic understanding of how 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 could end up losing your Bitcoins. So for many non technical customers it would better to pass on a fork and keep your Bitcoins secure. 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 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 which you get coins from thin air. Airdrops are usually utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although in certain situations some conditions can employ.
By way of instance, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops may be the maximum significance of some time method you can use to create money from the Bitcoins however they can be SUPER risky. I would advise you to use these methods only after ample research and a good understanding of the claiming process.