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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. The other 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 ideal, the majority of the cloud mining websites nowadays are simply pretending to use your money for mining operations, they are in scams.
Furthermore, while there are a few legit sites out there, 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 study since in the end, its own money.
A very popular way of growing your Bitcoin riches is via Bitcoin lending systems. These sites connect borrowers that need crypto with crypto owners who lend their coins to get an interest fee. Because such loans are ultra risky the interest rates are high which initially looks like a good thing. .
Well, since there is no actual collateral which retains the borrower liable for your loan more often than not these loans default and lenders are left with no money.
Weve tested out many loans at 99Bitcoins, and they all eventually defaulted. Thats why I recommend to stay away from this particular method.
Another method it is wise to avoid are coin doublers and High Yield Investment Programs also known as HYIPs. These are sites that promise to double your coins every few days or provide you unreal interest prices.
These sites actually do is take money from new customers and use that money to pay off older users. This process makes a great deal of buzz around the site that seems to be untrue 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 can go on for around 3-4 months until one day that the site will only go offline and the money will be gone. No more payments will be made and a lot of people will get mad that they have scammed.
We've reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a website which we can state is  secure to invest in. Any site that promises 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 site is a scam to get yourself Easy, use our Bitcoin scam test tool to acquire a reasonable assumption about a sites 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 before 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 process for claiming forked coins (aka forkcoins) is standard but demands an above basic 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 might 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 personally and take a commission but this could easily turn into a scam that 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 has a market.
Airdrops are similar to forks in the sense that article source you get coins from thin air. Airdrops are often used to spread the word in a certain cryptocurrency. The currency is distributed freely to the general public, although in some cases some conditions can apply.
By way of example, 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 insecure. I would recommend that you use these methods only after ample research and a good understanding of the claiming go to this website process.