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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. But this only means that the hardware will cost less. The other hassles of electricity 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. When this sounds ideal, the majority of the cloud mining websites today are simply pretending to use your money for mining operations, they're in fact scams.
Furthermore, while there are a couple of legit sites on the market, the money youd pay 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 own money.
A very common method of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect debtors who need crypto with crypto owners who lend their coins to get an interest rate. Because these loans are ultra insecure the interest rates are pretty high that initially looks like a good thing. .
Well, since there's absolutely no actual collateral that holds the borrower liable for the loan more often than not these loans default and lenders are left without their money.
Weve tested out several loans here at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to steer clear of 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 promise to double your coins every couple of days or provide you unreal interest prices.
These websites actually do is take money from new customers and use that money to pay off old users. This process creates a great deal of buzz around the site that seems to be untrue and solvent.
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On top of that, they almost always have some sort of referral program so that users can bring their friends on board.
This is the way a Ponzi scheme functions. This will go on for around 3-4 months until one day the site will only go offline and the money will be gone. No more payments will be made and a great deal of people will get angry that they got scammed.
We've reviewed several Bitcoin investment sites in the previous 3 years and have yet to find a website which we can state is  safe to invest in. Any website that guarantees you something that's too good to be true is likely just a facade for individuals trying to steal your coins. look at here .
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How can you find out whether a site is a scam to get yourself Easy, use our Bitcoin scam evaluation tool to acquire 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 emerges in the existing Bitcoin. Every person who held Bitcoin before 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 more. The process for claiming forked coins (aka forkcoins) is standard but requires an above fundamental understanding of how Bitcoin works. You can view 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 many non technical users it'd better to pass on a fork and keep your Bitcoins secure. Other alternatives include companies that claim the coins for you and additional reading take a commission but this 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 that you get coins out of thin air. Airdrops are often utilized to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some situations some conditions can apply.
By way of example, Byteball click here to read was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops may be the maximum value for some time method you can use to create money from the Bitcoins but they can be SUPER insecure. I'd advise you to utilize these approaches only after ample research and a good understanding of the claiming process.