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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. 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, most of the cloud mining sites nowadays 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 probably better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its your money.
A very common method of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners that lend their coins to get an interest rate. Because such loans are ultra insecure the interest rates are pretty high which initially looks like a good thing. .
Well, since there is no true collateral which 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 here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to steer clear of this particular method.
Another method I suggest you avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are websites which claim to double your coins every few days or give you unreal interest prices.
What these websites really do is take money from new customers and use that money to pay off old users. This method creates a lot of buzz around the website which is apparently untrue and solvent.
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On top of that, they almost always have some kind of referral app so that consumers can bring their friends on board.
This is how a Ponzi scheme works. This can 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 longer payments will be produced and a lot of people will get angry that they got scammed.
We have reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a website that we can say is  secure to invest in. Any website 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 evaluation tool to acquire a fair assumption about a websites 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 claim the new coin as well.
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 fundamental understanding of the way Bitcoin works. You can see 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 customers it'd better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies which assert the coins for you personally and have a commission but this may 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 much like discover this info here forks in the sense that you get coins from thin air. Airdrops are usually utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the general public, although in some situations some conditions can employ.
For instance, Byteball was distributed freely to Bitcoin users depending on the amount of that site Bitcoins they owned.
To conclude, forks and airdrops could possibly be the highest significance of time method you can use to create money from your Bitcoins but they can be SUPER insecure. I would my latest blog post recommend that you utilize these methods only after considerable research and a good understanding of the claiming process.