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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 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 websites today are just pretending to use your money for mining operations, they're in fact scams.
What's more, while there are a few legit sites out there, the money youd pay them to mine Bitcoin is likely better invested just buying Bitcoin. Of course we always urge you to do your own market research since in the end, its your money.
A very popular method of growing your Bitcoin wealth is via 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 risky the interest rates are high which initially seems like a fantastic thing. .
Well, since there is no actual collateral which holds the debtor liable for your loan more often than not these loans default and lenders are left with no money.
Weve tested out several loans here at 99Bitcoins, and they 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 websites which promise to double your coins every couple of days or provide you unreal interest rates.
These websites really do is take money from new users and use that money to pay off older 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 users can bring their friends on board.
This is the way a Ponzi scheme works. This will go on for around 3-4 months until one day that the site will just go offline and the money will be gone. No more payments will be produced and a great deal of people will get mad that they have scammed.
We have reviewed several Bitcoin investment sites in the past 3 decades and have yet to find a site which we can say is  secure to invest in. Any website that promises you something that is too good to be true read more is likely only a facade for scammers trying to steal your coins. .
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How can you find out if a website is a scam for yourself Easy, utilize our Bitcoin scam evaluation tool to get a fair assumption about a websites validity.
Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone emerges from the existing Bitcoin. Every person who held Bitcoin prior to the fork can now claim the new coin as well.
The first popular fork 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 requires an above basic understanding of the way Bitcoin works. You can see our fork claiming guide .
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Bear in mind that if youre not sure what youre doing when claiming a forkcoin you could this page 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 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 alternative cryptocurrencies assuming it has a market.
Airdrops are much like forks in the sense which 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 certain situations some conditions can apply.
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 highest significance of time method you can use to make money from your Bitcoins however they can be SUPER insecure. I would advise you to utilize these approaches only after ample research and a fantastic understanding of the claiming process.