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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. The other hassles of electricity expenses, configurations, maintenance and so on are basically 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 are in fact scams.
What's more, while there are a few legit sites on the market, 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 study since in the end, its own money.
A very popular way of growing your Bitcoin wealth is through Bitcoin lending systems. These sites connect debtors who need crypto with crypto owners who lend their coins for an interest rate. Because such loans are ultra insecure the interest rates are high which initially seems like a good thing. .
Well, since there's absolutely no actual collateral that retains the debtor 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 that claim to double your coins every couple of days or provide you unreal interest prices.
These sites actually do is take money from new users and use that money to pay off older users. This method creates a great deal of buzz around the website which seems to be legit and solvent.
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On top of that, they best site nearly always have some kind of referral program so that users 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 the site will just go offline and the money is going to be gone. No longer payments will be produced and a great deal of people may get mad that they got scammed.
We have reviewed several Bitcoin investment sites in the previous 3 years and have yet to find a site which we can say is  secure to invest in. Any site that guarantees you something that is too good to be true is probably just 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, use our Bitcoin scam test tool to get a fair assumption about a sites legitimacy.
Starting around August 2017 Bitcoin began forking into other coins. In a look these up nutshell, forking  means a new Bitcoin clone emerges from the existing Bitcoin. Every person who held Bitcoin before the fork can now also 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 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 .
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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 maintain your Bitcoins safe. Other alternatives include companies which claim the coins for you personally and take a commission but that could easily turn into a scam which runs away with you money. .
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Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or alternative 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 used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some cases some conditions can apply.
For instance, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.
To conclude, forks and airdrops could possibly be the look at this website maximum significance of time method you can use to make money from the Bitcoins but they can be SUPER insecure. I'd recommend that you use these approaches only after considerable research and a fantastic understanding of the claiming process.