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Mining altcoins (e.g. Ethereum mining) is more affordable than what youd need in order to mine Bitcoin. But this only means that the hardware will probably cost less. Another hassles of electricity 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 ideal, most of the cloud mining sites today are simply pretending to use your money for mining operations, they are in fact scams.
Furthermore, while there are a couple of legit sites out there, the money youd cover them to mine Bitcoin is likely better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its your money.
A remarkably common way of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest fee. As such loans are ultra insecure the interest rates are high that initially looks like a fantastic thing. .
Well, since there's absolutely no true collateral that retains the borrower liable for your loan more often than not these loans default and lenders are left without their money.
Weve tested out many loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this specific method.
Another method it is wise to 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 sites actually do is take money from new users and use that money to pay off old users. This method makes a lot of buzz around the site that is apparently legit and solvent.
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On top of that, they nearly always have some sort of referral program so that consumers can bring their friends on board.
This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day that the website will just go offline and the money will be gone. No more payments will be produced and a great deal of people will get angry that they got scammed.
We've reviewed many Bitcoin investment sites in the past 3 decades and have yet to find a website that we can say is  safe to invest in. Any website that guarantees you something that is 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 if a website is a scam for yourself Easy, use our Bitcoin scam test tool to acquire a fair assumption about a sites 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 as well.
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 fundamental understanding of how Bitcoin works. You can see our fork claiming guide .
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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 many non technical customers it'd better to pass on a fork and keep your Bitcoins safe. Other alternatives include companies which assert the coins for you and take 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 has a market.
Airdrops are similar to forks in the sense which you get coins out of 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 make money from the Bitcoins however they can be SUPER risky. I'd advise you to use these methods only after Website ample research and a fantastic understanding of the claiming process.