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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 cost less. Another hassles of power costs, configurations, maintenance and so on are basically 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 today are just 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 likely better invested just buying Bitcoin. Obviously we always urge you to do your own market study since in the end, its own money.
A remarkably common method of growing your Bitcoin wealth is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins to get an interest fee. Because these loans are ultra risky the interest rates are high which initially seems like a good thing. .
Well, since there's absolutely no true collateral that holds the borrower liable for the loan more often than not these loans default and lenders are left with no 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 I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites which claim to double your coins every few days or provide you unreal interest rates.
What these websites really do is take money from new users 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 this, they almost always have some sort of referral app so that consumers 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 that the website will just go offline and the money will be gone. No more payments will be check here 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 state is  safe to invest in. Any site that guarantees you something that is too good to be true is probably only 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, utilize our Bitcoin scam test tool to get a fair 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 before the fork can directory now claim the new coin too.
The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The procedure for claiming forked coins (aka forkcoins) is standard however requires an above basic understanding of how Bitcoin works. You can view 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 most non technical customers it'd 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 sites that may easily turn into a scam which runs away with you money. .
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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 which you get coins out of 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 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 maximum value for some time method you can use to make money from your Bitcoins but they can be SUPER insecure. I'd recommend that you utilize these methods only after considerable research and a good understanding of the claiming process.